There are common and costly mistakes which a lot of us have made and so many others are still going to make unless you read this post to the end. This is not in any way a curse or ill luck rather it is one of the greatest but common mistakes in the crypto space. I believe that a lot of people are already aware but what about the others who are ignorant of it? The idea of cryptocurrency being a quick way to financial freedom has become the reason why a lot of us make this same mistake. Although I would not blame anyone who falls victim to this particular mistake, I will rather wish for all of us to understand that being in the crypto space requires a high level of business understanding. Just as it is very hard for a goat to bark like a dog, that is how hard it is for a person who does not understand the pro’s and con’s of any business to succeed. The vital question to ask is; why did I venture into cryptocurrency? I was watching an animation movie titled Ballerina, it got to a point where the girl was asked this question; why do you dance? I saw how hard it was for her to answer the question because she could not pinpoint why she ventured into dancing.
This is the same question a lot of us have failed to answer and this is why we keep making this common but costly mistake in the cryptocurrency sphere. Let me allow you to answer for yourself; why did you venture into cryptocurrency? This is a question nobody will answer for you and it is also a question that will direct and guide you through your journey in the cryptocurrency space. I believe you must have answered the question by now or you are finding it a bit difficult to answer because you probably have never thought about it before now. Whatever the case is, you must understand that the answer you give will determine whether you reach your desired goal in the crypto space or you keep making this common but costly mistake. I have written articles on risk-taking and I have understood why the rich keep getting richer. This is because they have come to terms with what I am about to tell you in this post. Let me ask you this question; why do you think a rich man will use collateral to take loans from the bank for a business that may fail? Does it not look and sound foolish to an average person who is not business-minded? The truth of it all is that making it in life requires a high level of risk-taking. This is the number one rule that guides every business.
Let me bring it to the crypto space. A lot of us must have had the opportunity of getting one airdrop or the other since we started our journey. One question you should ask yourself is; how have I handled those airdrops? It may interest you to know that fear is the greatest enemy of every person within the corridors of cryptocurrency. This is why we have acronyms like FOMO, FUD, DYOR, RUG PULL and the rest.
It is common knowledge that coins or tokens may fail or succeed at any time this is why people are advised to invest wisely. Now, what would you do when you get a certain coin or token through airdrop? A lot of us will certainly sell the moment liquidity is added not minding how little the reward is. This is has become the growing trend till the recent airdrop which has given all those who dumped the moment liquidity was added. I believe we all heard about $SAMO and how it has become the trending meme coin in the Solana blockchain. The very first feeling people got when it started pumping was the feeling of heartbreak and regret. I had a friend who got the airdrop but sold everything at $165 whereas if he had held unto it till today, he would have made over $60,000. This is someone who is coming from a poor family.
He is not the only one who sold off the moment there was a little pump after the airdrop was distributed. The reason people sold off was because of Rug pull but would you take it because one egg is bad you will now condemn every other egg in the crate? This is exactly what happened and that is what I am here to talk about. I will caption it Dreaming Big.
How big is your dream?
One of the driving forces of every rich man is his dream. He sees himself severally swimming in wealth and this is why he takes unthinkable risks especially when it has to do with business and money-making. If you are in the crypto space and you do not dream big, you will always cry had I know at last. It is common knowledge that scam projects are everywhere but one should not make hasty decisions out of fear. Those who sold off their entire $SAMO airdrop are not going to be happy as long as the $SAMO keeps increasing.
The simple advice you must not allow to erase from your mind is; never you sale off every single airdrop you get or even any single investment you have profited from. It may sound very funny to you but that is true. I have another friend who did not sell his entire $SAMO airdrop, today he is over $10,000 richer. When I asked him why he kept some, he told me that he had no reason other than taking Risk. He is now richer than he could have imagined. It is not about getting an airdrop or investing in a project, it is about dreaming big which will push you into taking unthinkable risks in life. I believe you have heard of this saying; Take the Risk and Join the Millionaires. Those who sold off thought it was quick and easy cash but they forget that cryptocurrency is not a quick money scheme. I will ask you this question for you to answer yourself because I believe it is necessary.
Would you prefer to sell off an airdrop for fear of Rug pull or would you take the risk and Hodl since you did not spend a dime to get it? Learn from the mistakes of others.
Thank you for reading my ranting today.
Davinchsax loves you…
Lead image from unsplash
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