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Building Crypto Today How to get into Crypto
Welcome to the community, built for newbs to start learning and get into crypto an otherwise challenging world in a safe way. We’re not in the investment advising game, we’re not CPAs, nor are we attorneys, but we do love to share information and help other good people do good things.
This week we’re getting into the beginnings of crypto, places to start and a few reasons you may or may not want to start. There is a coming boom and busts will surely be an integral part as they are in any market. Like the .Com bubble, there are a great deal of completely useless cryptos out there. We will in the not so distant future see everyone flooding into the crypto market, I’m guessing we’ll see a bump going into winter with a big spike in late spring 2018 after Americans get tax returns and their annual slush fund.
If you haven’t yet, but want to get into Crypto, you may want to wait.
A fundamental truth about the markets, they tend to figure themselves out. The crypto market is still so new that it hasn’t had a chance to work. There haven’t been enough opportunities to show off working technologies, they’re all too new. What we are likely to see, possibly in the summer or fall of 2018 is a big correction when all the 2017 ICOs don’t deliver their marvelous promises. This will have an equally chilling effect on the solid ICO groups who do deliver on their equally marvelous promises. Some quality groups are set to make some amazing technologies come to life in 2018, but the pull back will likely hurt them just like the .Com bust.
The saving grace if you want to get into Crypto after getting through all this.
This is still the future of the economy and world we live in. Even if you invest today on an up market and stay through the coming corrections, you’ll still be postured to win big in 3-5 years. As the saying goes, HODL, just HODL. That’s a joking way of saying hold. Don’t hold just anything though, there are a lot of trash coins out there. Just like when investing in an ICO, look at the whitepaper and team for the token you want to invest in. In an up market, I don’t make too many picks. Everyone is doing great when the money is flowing, but you see the solid teams and projects in a down market. When a parity wallet bug or hack occurs, you see the strong teams come through. Stick with those projects, they keep working because they are there for more than just the money.
So many options in terms of what to do, that’s on you, I’m just here to give you perspective on the options in front of you.
If you’ve got questions or comments, want to see something specific covered, or want to come on and join the conversation, give me a shout at Josh at Ritchey.Space
Looking to learn more about starting in crypto, check out the ultimate beginner’s guide.
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