Money Sitting

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When I got my $10,200 into gdax I wasn’t sure what to do with it. If I bought bitcoin and the price went down I would lose value and buying power. If it went up I would gain value and buying power. I could move it into an alt coin or several but the same problems apply.

So I just let the money sit in gdax.

While it sat there the price of bitcoin went up and I could of made $817. Money I could have used for more zcoin.

But one of the first things I learned was to never invest money you can’t stand to lose. This money was something I could not afford to lose. Right or wrong I will leave up to you. But I feel good about my decision, even at the loss of a profit.

 

Update.

 

The price of bitcoin was roughly $9,000 when my money was sitting in gdax. As of now the price is $16,500. If I would’ve bought $10,200 worth of bitcoin at the $9,000 price I would have made around $7,500.

This is a good amount of money. Going to be honest, it sucks a little bit.

My reasoning was solid for letting my money sit so I am not mad about it. But next time I am going to at least take half my money and buy bitcoin then leave the other half sitting. Spread the risk.

Hopefully you learn from this and can make a smart judgement either way for yourself.

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