There’s been a major shift in investment strategies over the past couple years. More and more people are moving away from the stock market and investing funds into crypto. While this can be a smart move, the problem is a lot of you are newbies looking to get rich quick and have a strong ignorance of what the crypto industry is all about.
If you seriously want to make money through crypto investing, you have to ditch the idea of instant wealth and learn the game. Just like any other investment opportunity, success in the crypto industry takes strategy, not just following the bullshit that “insta-gurus” are feeding you.
Get real, people. Do you really believe random internet people, with no skin in the game, can give you the best advice? It’s time to stop following and start doing the work yourself.
I am not here to tell you which crypto coins to invest in. I’m not here to tell you how much you must invest. The fact is, all of this varies. There’s a ton of ways to have success in the crypto industry. The key is to be smart. So, if you want to thrive in crypto investment, here’s a few tips on where to start.
Quit Playing it Safe
Just like any other investment, if you do not take this risk, you won’t see the reward. A lot of people play the safe game, only investing in the big well-known coins. The truth is, this gives you a false sense of security. While these coins are good to have in your portfolio, they’re not the ones that will give you huge returns. So, if you’re investing all of your funds here, don’t expect to make millions of dollars off a $100 investment. It’s not going to happen. In fact, I personally use the “safer” crypto options like Bitcoin as a savings account that can stimulate smaller consistent growth (higher than the average APY rates of savings accounts). But it’s not a way to see huge economic gains.
Where the real “magic” happens is the new up and coming coins that actually have potential to grow in value rapidly. There’s a ton of coins out there with great potential. The key is to catch them early and ride the wave.
Invest at the Right Time
This brings me to my second tip, timing is everything in crypto. You’ll see the biggest returns on coins that you invest in early and the value soars. A huge mistake that occurs often is that people make crypto investments when it’s too late. Yes, it takes a bit of predictive abilities, but if you do the research, you’ll pick up on the common trends that occur prior to a coin’s value skyrocketing.
You also have to pay close attention to where crypto is heading. It’s becoming much more than obsolete coins that just sit in thin air. They’re becoming real forms of currency exchange. This is something heavily to consider. Notice which coins are taking measures to adapt to this concept. Find out who’s backing the coins before investing. Investigate coins that started out similarly.
Play it Smart
The last tip that I’ll leave you with is to play the game smart. Do your own research, plan it out and execute on the strategy. You have to make wise decisions and the best wisdom comes from experiencing. The only way for you to truly learn more about the crypto industry is for you to start gaining skin in the game. Accept the fact there are going to be learning curves. You may experience some losses. Learn from them. Recognize trends among your own wins. Don’t watch from the sidelines, jump in and play to win.
Remember, generating real wealth in the crypto world is not going to happen overnight. It takes real time, effort and work. Get rid of the get rich quick concept. Crypto is more so about building long term wealth over time through wise decisions. Therefore, you will only see success if you have a true understanding of how the system works. So, I encourage you to take the time to thoughtfully build out your crypto portfolio. At the end of the day, your wins and losses are a direct result of the work that you do. Stop looking at crypto as a magic machine to generate millions and use it as a tool of economic empowerment.
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