š BTC $ETH $SOL: Four Missteps That Can Hinder Your Path to Becoming a Crypto Tycoon š
1.Hoarding Wealth: If youāre continually saving, like depositing money in the bank or investing everything in crypto and stocks, you may never become a tycoon. Those who hoard money and donāt use it when necessary may eventually lose their motivation to earn. Donāt fall into this trap. When you need something essential, feel free to withdraw the same amount of money from your savings and spend it. You can always replenish the amount later.
2.Never Donating: You might think, āWhy should I donate money? I need to save, and thatās how Iāll get rich.ā This is a misconception. When you donate money to the poor or for a good cause, it boosts your motivation to earn money by increasing your dopamine levels. In several religious scriptures, itās written that if you give, you will actually gain wealth. So now, science is backing up this age-old theory.
3.Ostentatious Display of Wealth: When you earn a lot of money, you might start showing off. For instance, when I started my software company, I rented a large office and spent a ton of money on rent, furniture, tech, but we hardly used the office. Our developers preferred to work from home, and so did I. Why did I waste this money? Right, just to show off that Iām a CEO. This is the silliest thing I could do.
4.Constant Fear of Loss: Look, if you made 100k in 1 year, itās okay to lose 90% of it.