If you are entering the world of coin investing with the desire to become a millionaire, then I have good news and bad news for you.
The good news is that it can happen, but the bad news is…
it can happen because you have lost all that money from a billionaire! Let's explore with me the secret of investing coins in the style of "fun is the main thing, money is secondary".
1. FOMO is a “specialty” of coin investors FOMO (Fear Of Missing Out) is like an infectious disease in the coin investment community. Every time the coin price skyrockets, you will be haunted by the thought “I have to get in right away, otherwise I will miss the opportunity to change my life”. And that is also the time when you buy at the top, and then watch the price fall freely as if it is sliding downhill. The experience here is: if someone says this is a “once in a lifetime opportunity”, suspect that they are trying to sell you.
2. “All-in” is for gamblers, not investors. It’s true that “risking big wins big,” but “risking” in coin investing sometimes means eating… instant noodles next month. If you intend to “go all-in” on a coin just because you “feel sure,” remember that your feelings are not market analysis. Divide your capital and invest in many different coins to minimize risk. Because if you lose, at least you still have money to… try again.
3. Advice from online gurus is often… to make you lose money. Online gurus often appear with accurate predictions… after the fact. The “peaks” and “bottoms” they analyze are often just retrospectives. If you listen to them and invest, you may learn a valuable lesson (literally). Doing your own research is the only way to become a smart investor, instead of “prey” on people who are good at talking but bad at doing.
4. Keep a steady mind when seeing your account fluctuate stronglyInvesting in coins is no different from riding a roller coaster. You will experience feelings from extreme excitement when seeing profits increase, to fear when the coin price plummets. Practice “deep breathing and relaxation” when seeing your account fluctuate strongly. Sometimes doing nothing and waiting is a wiser strategy than constantly trading.
5. Don’t invest in a coin because its logo is “cute”There are many coins with cute, adorable icons, but that doesn’t make them valuable. Invest for the platform, for the project, not for the logo. You wouldn’t want to tell your friends that you lost money just because the coin had a cute dog on it, right?
6. Be prepared for “life after investing”After investing in coins, you may have to live with the “up and down” situation often. One day, you may feel like you are the “Warren Buffett of the crypto world”, but just a few days later, you have to wonder if you should sell some of your belongings to cover the loss. Being mentally prepared to live with these “chaotic” emotions is indispensable when investing in coins.
7. Know when to “get out”The crypto market is not always rosy, and not everyone is successful right away. Know your stopping point and don’t be too greedy. If you have made a significant profit, don’t be afraid to “take profit” to realize the profit. And if you are losing, you should also consider cutting your losses before things get worse. “Know yourself, know your enemy, and you can fight a hundred battles with no risk of defeat” is not just a saying.
8. Keep your spirits up and smile moreFinally, remember that coin investing is just a part of life. Don’t take winning or losing too seriously, but consider it a game with interesting ups and downs. Even if you lose money, consider it “the cost of fun” and always keep a positive attitude. Otherwise, you will find yourself no different from a… failed investor who is always sad.
In short: Investing in coins is like participating in a thrilling game that can make you feel excited or scared at any moment. The most important thing is to know how to protect yourself, do not let your emotions dominate too much and always consider investing as a learning journey.
And remember, if you lose, there are still… instant noodles to eat!
HEHEHEHE
