Let's talk about investments
There's a big mistake that some people make who want to start in investments in general, but mostly in cryptocurrencies I've seen it a lot, and it's that as it happened with the gold rush in the 19th century, seeing that there are some people who make big profits want to go in and put money in, even without knowing what it is about, some even take out loans, acquiring big debts and if things don't go as expected - which usually happens - they can literally even ruin their financial life completely.
Why do I talk specifically about cryptocurrencies?
This year in particular has been of rebound in the market and many people have entered the cryptomundo, for example with DeFi there has been a big Boom, however it is something that is not easy to understand for everyone, and enter a business or investment that is not understood is a big mistake, do not you think?
A common mistake is that, to enter something that we do not understand, particularly has happened to me and I have paid dearly, but, I have learned, this year particularly was of much learning, and obvious, I will continue learning and making mistakes, only that I will try that it is not with the same thing.
To invest in something, especially when we talk about projects in Cryptography, we must not only understand what it is about, but also believe in that project. Why? we are witnesses that cryptocurrencies are very volatile, that is to say, their prices vary permanently and can fall abruptly, as well as rise in the same way.
So, if you believe in the project, in the people behind it, you will know that even if the price drops, they will continue to work to add value and thus make the price of the token rise.
If not, what will happen is that at the first sign that the price may go down, or remain below the price at which the investment was made for a long time, the first thing that may come to mind is that if the capital is withdrawn even if it loses or not, doubts will enter, driven by fear, and the person will end up practically suffering because "he is losing money", when in fact he is not losing, not until he sells.
An example, Hive recently was at 0.233 dollars, and even a few months ago it was over 0.90 dollars, who bought at that price can say that according to the current price (0.105 dollars, for the day of this publication) is losing, however, if he trusts the project he will know that later the price will stabilize, to a point in which it could be far above the purchase price, now, that time can take hours, days, weeks or even months, that's why being in the crypto-world has to do with some patience too, not only knowledge and belief in the project, although in the end everything is related.
What do you think about what I just said?
I would like to know your opinion
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Greetings friend @josevas217.
Cryptocurrencies are undoubtedly extremely volatile, in my case it turns out that during the first 2 years on the platform I only dedicated myself to writing content related to STEM so my income was exclusively rewards, however, since the launch of HIVE and after all that fuss related to exchanges, plus the advice I received from a friend who is also a user of the platform, it was an impulse to dedicate myself to cryptocurrency trading, the starts were very good (the first 2 weeks), then considerable losses came Well, I really shouldn't include this as losses, because they were learning moments, however, after seeing the whole not-so-optimistic outlook, I took it upon myself to study in depth the world of cryptocurrencies trading, and today I'm more cautious when it comes to to buy and sell a certain cryptocurrency, first because I learned to respect my strategy, second because I invest in short periods, and third or I analyze what is behind the project and in what situation it has in the days when I plan to invest in that specific cryptocurrency.
Hi @lupafilotaxia
You are an example of what I meant in my post, mistakes lead one to be more cautious, as long as what one is really after is that, to learn.
It's good that you have entered the world of exchange houses, trading. It is something that I particularly like, although I am not an expert, but I am advancing in some things.
Thank you very much for your great commentary.
Have a great day.
I totally agree dear friend, it is some faith and patience it is a shame the fall of our beautiful hive but I am sure it will recover ground in the next few weeks
The cryptos all go through this period, even the same BTC at the beginning of the year was at 3000, it is already above 14mil... you have to be patient and intelligent.
Buying something at the TOP isn't a wise decision, and it's the classic FOMO mistake... and than, as you said, if someone doesn't know what it is about, it sells at the bottom (for example now), and makes the second mistake, following the FEAR emotion...
So, DYOR (do your own research), and do like you said... Invest in the long term, and don't let your emotions mess with your business related decisions... ;)
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Yes, investing in the moment you have come down is the logical thing to do, but it seems that this logic is not applied by everyone. Some because they don't know, others because they want to invest and don't have the patience to wait. In reality, yes, you have to do your own research, not trust yourself, because that's when you can get desperate.
Thank you very much for your support @ph1102
I agree with you mate, many people don't really consider some fundamentals about a project before investing in or maybe they just want to pull early out of the rug pull in order to make insane profits out of the loss of another person. Whatever be the case, many crypto noobs are falling for the traps that are being set in DeFi projects these days. I personally got my feet burnt when I invested into $SUSHI and I did this because it was listed on Binance and this project had a great use case over Uniswap. Well, I learnt my lessons and started doing my own research about projects and some of the things that I look out for is the experience of team members, use case, my time of investing into the project etc.
Having this in mind I happen to come across this project Tagion Project. There is a lot of research going into this project as it has been under development for the past two years. I feel the reason behind this is to learn from the mistakes of all these projects in order to come up with a working solution. Currently, they are under a testnet of their Alpha Network and I think this is a good time to buy into this project as one of the early adopters as it's conducting its private sales at the moment. They have a very interactive community that you can reach out to for more information.
Certainly, to invest in something you must believe in the project and have confidence in it, but at the first sign of change, fear will mobilize us to flee with what can be saved. Especially in this world of crypto-divisions we must be cautious and not enter just for fashion or to take advantage of a good time, because then we find periods that test our mettle, no doubt the knowledge and confidence in a project is what makes the difference.
Hello friend, you are very right and I understand you, I also learned many things this year, and I also lost money for not knowing and not educating myself before, but these are mistakes that surely in the future we will not make. This world is a complete challenge, when we think that we are winning suddenly we can get very low, but as you say we have to trust in the projects and be sure that we will not lose our investment. Greetings!
Very well what we try to explain friend, in particular I do not understand very well the market for exchange of cryptomonies, so I do not risk in making some kind of exchange so far, perhaps in the future I will encourage me to make such investments but with a clearer learning about this world. Greetings and thanks for sharing