Not Everyone Will Be Crypto Investors And Here's Why
These days, many people are flocking into the crypto space but more keep leaving just as fast as they came in. This might not be because of the space but as a result of certain character and mindset they brought into the space. Most people find it difficult to adjust to the setting of the space and hence keep making mistakes. Not everyone will make money in cryptocurrency and here is why.
A lot of people see crypto as a get rich quick scheme. Cryptocurrency is more than buying a couple of tokens with lots of potential, it requires proper research and analysis. Most people scout for coins/tokens that promise immediate profit in a couple of days so they can make money quicker. While some people have been lucky, there is no certainty that you will be lucky as well. No one knows the time or position these rug pulls will decide to withdraw the market while carting away with your money. By sticking to schemes like this, people keep loosing more money while expecting a miracle to happen which never does and they begin to cry scam.
Few people in the space have the ability to be patient. When they aren't seeing profit as soon as they expect they start to cry scam. Cryptocurrencies require proper research and patience if you really intend to make profit for a long time. Some projects will rise in months and some will take years just in the case of Ethereum and Solana but you probably would have sold off by then due to impatience.It is advisable that you don't go into cryptocurrency if you can't be patient enough for the bears to move across or for certain projects to gain wide adoption or usecase.
Let Go Of Losses
If you will be crying 1 month after making losses I suggest you stay away from this space. Every trader has and will make losses in other to make meaningful profit in the future. If you can't handle loss, it is better you stick to investments with lower risk rate. The crypto market won't be bullish 24/7 all year, there will be weeks, months of endless bloody candles that will tug at every fibre of your being.
Inability To Learn
Some folks are just obsessed with relying on others for signals, info and everything concerning investing. If you refuse to take out time regularly to master the space and everything that will help you make better decisions, cryptocurrency might not be your thing.
The crypto world evolves daily wnd to maximize your profits, it is important that you master the space as much as you can while keeping abrest with the latest. Learning to make proper research on projects, study charts, analyze markets to make better financial decisions.
Not everyone will be full time investors, some will be in part time and some would be better off far away from it. It is important that you address your readiness or interst in the crypto world and all it's ups and down before jumping into it.