MY MISTAKES (Continuation)

Another thing I did wrong during the bull trend was being LAZY.

When you see your net worth quickly increasing thousands of dollars in a much shorter timeframe than you are used to (ie: Weekly, daily, hourly....) just "Watching the Walls" or doing some trades here and there, it is easy to procrastinate on other stuff you deem comparatively less important at that moment. I am not talking about personal life here, but crypto wise.

There was lots of money to be made with the multiple forks, airdrops, etc yet I didn't take enough advantage of them.

Many seemed to "not be worth the effort" but that was only comparatively at that time. Also some required some research, creating accounts on some other exchanges, ... In other words: WORK.

And why would you want to work for "pennies" when you are already earning thousands just for watching your bitcoins grow in price (coz, you know, you need to look after them all the time, right?)?!

WRONG!

We prepare during years of bear market, accumulating, trading and more importantly WAITING for the moment that rally comes and every part of the puzzle fall in place and  all the opportunities are handed to us. And we need to take them. All of them.

I left on the table, and still have, most of Bitcoin Gold, and *ALL* of the other less valuable forks (Bitcoin Diamond, SBTC, ). Also many of the airdrops like Bitcore.

With some I fooled myself thinking "Well, there's no hurry, I will be able to cash it out later and maybe at a better price too"... But that was not true, I was just being lazy.

Had I not been and really think it may be better to wait, I would have anyways cashed/traded 50% then and hodl the other 50% for a better moment. But no, I did absolutely nothing. Out of pure laziness.

The advice here is: Don't be lazy, try to participate in airdrops, extract all the damn forks asap and get them ready, ... ACT.

Additional advice come from another mistake I made: Not having ready all the exchanges I would later need.

So, during the bear market, employ your time opening accounts in as many exchanges as you can, verify as needed, learn their UI, etc... During a bull market things happen very fast, and chances are that you won't be able to use that exchange you need to trade some fork/altcoin or use for fiat withdrawal if you have not done your homework well in advance.

This last advice is particularly important in regards to withdrawals. It is preferable to have established some previous history with the exchange, make some deposit/s to join the bank account, etc. And it is also better to have a few different ones too when the moment comes to pull the trigger. As many as you can. Minimise third party risk, split the withdrawals over them, don't do it all at once, etc....


^This is something I am doing right now. It will be a long process. You should do it too if you haven't already. Don't procrastinate. ^

(Will continue)