Crypto is for everyone. Investing in it is not.

in Hive Learners7 days ago


Investing in crypto is a great way to set yourself up for financial freedom, but it's not for everyone. You should only invest money you're willing and able to lose because that's exactly what can happen if you don't do your research or don't follow this blog properly. 😂 Don't make the mistakes I made!

Crypto Is Volatile

Crypto is volatile, and that’s a good thing. Now, before you think I have lost my mind, let me explain. If you are an investor looking to make a quick buck in the crypto world, then volatility is not good for you. On the other hand, if you are someone who has been in this market for years—like me—then volatility is an opportunity for some great profits!

Volatility occurs when there isn’t enough supply or demand to meet the price of an asset. This causes large fluctuations in value which make it difficult to predict where the price will go next (hence volatility). When a new technology introduces itself to the world (such as cryptocurrency), its value can fluctuate quite wildly because there aren’t many people participating yet with enough supply/demand balance to stabilize prices across exchanges worldwide simultaneously over time. As more people jump on board investing/trading currencies like Bitcoin or Ethereum, there will come a time when prices become less volatile because there will be plenty of buyers willing pay top dollar for these assets. Thus stabilizing their value against other fiat currencies such as USD Dollar etc. In summary: Volatility = Opportunity!!!

You Don't Understand Crypto

  • Do you understand how crypto works?

  • Do you understand the technology behind cryptocurrency?

If not, then it's likely that you don't fully understand the risks of investing in it. Crypto is a complex space and there are many different types of coins out there. The same goes for blockchain technology, which is a decentralized database powered by cryptocurrencies like Bitcoin and Ethereum. It’s worth doing some research before diving into investing if this isn't your area of expertise or interest; otherwise, you may find yourself at risk from scams or a lack of understanding of how these currencies work. Take some time and look for the following info before putting your money into any crypto project:

  • What Is The Problem & Proposed Solution?
  • Tokenomics/Whitepaper
  • Team Background
  • What Percentage of Initial Supply Is Owned By Team & Early Investors?
  • Website & Social Media Links Like Twitter & Discord
  • Total Addressable Market

In addition to this, you need to decide at which point you are going to invest and pull the money in the future.

You Need The Money You've Invested

Need the money you've invested? If so, crypto investing is not for you. You will feel the need to pull out money when the price of your coin is so low. Cryptocurrencies have wild price swings and most are backed by nothing but a promise that someday they'll be worth something. They're also not regulated by any central bank or government - so if things go wrong, there's no safety net to catch you!

You're Investing More Than You Can Afford To Lose

The first rule in all investing is to never invest more than you can afford to lose. This especially applies when it comes to high-risk investments like cryptocurrencies. Remember that this isn't your retirement fund, so don't put everything you have into a single investment. If it works out, great! But if not, at least you'll still be able to pay rent and buy groceries and live your life normally. Don't try to turn it into a disaster if it can only be a small bump in the road.

FOMO

It's easy to get caught up in the hype and think that investing in cryptocurrency is like winning the lottery, but nothing could be further from the truth.

Crypto has been around for less than 10 years and has already seen a massive rise and fall (Bitcoin went from $0 to over $68,000, then back down under $20,000). While this rollercoaster ride may seem like fun for some people, it can be extremely stressful and even devastating for others. You should never risk what you can't afford to lose on something as volatile as cryptocurrency—no matter how tempting it may seem at first glance! Fear of missing out will rekt you. :)

Conclusion

Crypto is for everyone. Investing in it is not. Yepp, that's the conclusion of this blog. If you’re still looking to put your money in crypto and are considering doing so on your own, I encourage you to do a thorough assessment of the project before diving in. A great way to do that is to join a crypto community such as LeoFinance on Hive. You can learn more about how to safely invest in crypto opportunities and find new ones while earning $LEO token for your activity. And Hive, and several other tokens. xD

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One of the problems affecting many crypto investors is their gamblers Mindsets.

They like crypto but their gamblers Mindsets make them believe that you can drop 1k today and wake tomorrow with 1000k without doing any research. Many so called crypto investors rely on some crypto Gurus to just give them Signal, and that'll be their formula for wealth, hehe.

I once belonged to a WhatsApp group in which the Gurus will just push us to any f***ing just-released Inu token out there believing we bound to the moon. The end result was Zero, 😆.

And this is still happening to many lazy crypto investors who don't want to take their time to study the crypto space and protect their investments.

LeoFinance is a great place to find sincere crypto knowledge. Personally, I consider "being on the Hive blockchain" as an investment.

Thank you, @finguru

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 6 days ago  

Gambler's Mindset! Lovely term bro.

I once belonged to a WhatsApp group in which the Gurus will just push us to any f***ing just-released Inu token out there believing we bound to the moon. The end result was Zero, 😆.

Happened to me as well. This is the fastest way to go from poor to very poor. xD

Personally, I consider "being on the Hive blockchain" as an investment.

Same here!! It is in fact one of the biggest investments of my life.

#WAGMI

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Great post, yeah you are totally right. Right now crypto is so volatile because most people invest in a emotional way and they don't analyze the market, they let their fear take the best of them. In may case I know I'm a emotional person that's why I use bots, I put some money in it and if the bot earns me money great if not that's ok too

 6 days ago  

Thanks a lot, mate. 🔥 I have never used bots. Do you find them easy to work with? That's how they are supposed to be though. Shed some of our load and automate investing. I am emotional too but I try to control or channel my emotions into something else - like writing!

Posted Using LeoFinance Beta

yep and there are several tutorials that help you get started, of course I only use the basic settings but the bots do help a bit

This is very true... and something I have been saying for a while. Not everyone can handle investment strategies, especially since being effective requires knowledge and understanding. It's like arriving at a firm wanting to be an engineer without any experience... it's simply not for everyone. However, everyone can learn and earn on Hive!

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 5 days ago  

I love the learn-and-earn model. Best way to create wealth in crypto. There is much more than just trading and investing!

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 6 days ago  

I always look forward to your BOOMs. Thanks a lot @onealfa. 🔥❤️

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So true, if one can't handle the swings they shouldn't invest.

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 6 days ago  

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The rewards earned on this comment will go directly to the people( @finguru ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

Thank you for this very helpful reminders.

To sum it up, for me, it translates to:

NEVER INVEST AN AMOUNT YOU CAN'T AFFORT TO LOSE and NEVER INVEST INTO SOMETHING YOU DON'T FULLY UNDERSTAND. :)

!1UP


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 6 days ago  

Brilliant. xD Thanks for the one-line summary mate!!

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I was able to come up with my personal summary thanks to your explanation. If not for you, I may not able to summarize it. 😊

 5 days ago  

Looks like we both did a great job. Let's have some !PIZZA xD

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I agree that crypto isn't for everyone. It's a developing space and volatility will be high. There will also be a lot of tokens that die as well and Hive is the best place to learn about all of this without paying so much.

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 5 days ago  

And once you earn enough, you can learn to invest in good projects. That's the best way to go!

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I've always been amazed that people with little knowledge of crypto dare to invest in niche crypto assets.

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 6 days ago  

LMAO. True. xD After losing a lot of money as a crypto noob, I was amazed to see myself being so greedy. 😂

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Some great advice there! Keep up the great work!

 6 days ago  

Thanks mate. 🔥🔥

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And that's where hive comes into play. One of the few crypto ecosystem that you can invest your time and generate money/cryptos etc etc!

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 5 days ago  

I have tried others too. There's nothing like Hive. I love it here. 🔥

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This is really good to see, nice i write ✍️ up

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 6 days ago  

Thanks a lot mate. Cheers!

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 5 days ago  

Thanks SS. xD

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