Last updated on November 8th, 2022 at 01:48 pm
So, let’s be honest, we all enter this cryptocurrency space from different points in life.
We all have different, experience, backgrounds, education, we come from different states or countries and we have differing expectations of what we want to get out of this venture.
Given all of this, it’s probably a good idea to consider some general “housekeeping rules” while operating in the crypto universe.
Not A Get Rich Quick Scheme
First and foremost, cryptocurrency is not a get rich scheme or plan.
If that’s why your here, you’re in for lot’s of disappointment and frustration… and quite frankly, save us all some aggravation and just leave now and go find something else on the internet that suits your fancy.
Now that we got that over with…
You should know that you CAN make a considerable amount of money in this space.
There are an almost unlimited number of options, which include HYIPs (High Yield Interest Platforms), day trading and long term investing to name the most popular.
We will discuss all of these in greater detail, but for now, I would like to focus on long term investing.
The definition of investing is “to allocate money in the expectation of some benefit in the future.”
Investing for the long term is not a new concept and is probably something you have done at some point in your life… perhaps through a 401k or IRA.
Cryptocurrency provides you with decentralized investment opportunity. The medium of this opportunity is cryptocurrency.
Benefits & Drawbacks of Decentralization
Many investors get involved in the crypto space because of the draw to the idea of a decentralized investment opportunity.
This leads us to the main benefit available in the crypto universe.
The idea that there is little to no regulation by governments and other authorities coupled with the possibility of being in complete control of your financial sovereignty.
These are some of the pillars of Liberitarian ideals.
For that matter, it was the desire of the Bitcoin founder, Satoshi Nakamoto, that this new currency and technology would revolutionize the world as we know it and bring all persons of the world the opportunity to become financially independent.
This greatest benefit of the space, self direction, can also be one of the greatest drawbacks.
Because, just as we mentioned in the beginning of this talk, all of us have different gifts and experiences. We all handle similar situations quite differently.
The cryptocurrency universe is a volatile space. The price swings alone can cause the best person many a sleepless night.
So, if you plan to be here for the long haul, you need to be sure you can handle the volatility, stress, and uncertainty with maturity.
You can’t melt down or blame anyone for the investments you make or fail to make…
You are in charge… you are the captain of your ship… you are responsible for it’s successes and failures.
Sounds a bit lonely right?
Well, while it’s true that you are ultimately responsible for doing your own research, choosing your investments, making sure your money is secure… you are not completely alone.
Crypto investors are all about community. There are many groups throughout the space where you can socialize with like-minded individuals who are on the same journey as you.
Seek out these groups.
Join them, learn from them, share your experiences and knowledge with them.
And ultimately, if these groups don’t seem to be helpful, providing good advice or are just generally negative overall… then pack it up and find a better one to help you continue to grow and succeed.
As you may have heard before – “With Great Power Comes Great Responsibility.”
Nothing could be more true when it comes to the opportunities available in crypto!
You are responsible for you, your money, your online security, your time, your investments, your wins, your losses… the whole thing…
Here’s to having fun, making money, securing your future and enjoying the ride!
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