Lessons from a mentor.
I was busy reading other users content on noise cash when I saw Pantera notification about a post he renoised so I clicked and it took me to Marc de Mesel page, I clicked on the link to YouTube and the video happened to be loaded with first-class advice for people who care to listen.
Taking crypto advice from YouTube is something I don't do often because most times it ends as a disappointment since most people do it just to get attention and subscribers but it is usually a different case to some of the people I have met on the platform, they never disappoint.
I wouldn't want to beat around the bush I will just go straight to the points I learned from the video.
•Spread your Investment
It feels great when the people you look up to have a good heart towards growth. I have seen people condemn good projects just because they want people to like what they created or follow them blindly but Marc is different and has once again proven to be a leader.
The crypto-verse is unpredictable and the unexpected happens a lot of time that's why you see the warning that "Invest what you can afford to lose", investing in any project is a risk but you can say if the risk is worth bearing or not. Marc mentioned in the video and emphasized how important it is for us to spread our funds on different good projects to avoid losing a lot if one of the investments doesn't go as predicted.
Spreading your investment doesn't have to be just purchasing the big names in the crypto-verse because there are numerous new promising projects that can make us happy in the end, I have a friend who use to refer to those coins as young gems. These coins are out there but a lot of us are obsessed with hype because we feel like searching for the gems can be stressful so we just depend on what the influencers in the crypto-verse say and invest, sometimes it turns out good while it ends terribly in some instances as well.
There was a particular project I was introduced to a few years back, I am the kind of person who is very loyal to projects when I see their potential. I gave my all and went dip even though I was warned but I didn't listen and it backfired, the people I refused to listen to made fortunes out of it while I got nothing at the end.
What I am saying in essence is that your love for a particular project should stop you from doing your research and investing in another project, if I had spread my fund on another investment then, I probably might be in better shape than I am today.
•Explore the crypto-verse
Cryptocurrency has gone beyond what people foresee 5 years ago, the rate at which it is growing is awesome. Despite the opportunities it has brought, the risk is huge as well.
How well are you exploring the world? Trading, NFT, gaming, crypto blogging, Defi, and others, the opportunity is limitless but before going into anything in the crypto, ensure you have proper knowledge of what it is.
•Buying and selling tactics
A lot of us still feel like we are unlucky with this thing called crypto because we make the wrong moves almost all the time.
Understanding when to invest and also take profit is very important in the crypto-verse, buying because people are doing so is not a good tactic. There are times when the hype is the reason for project popularity and we blindly walk into the trap by investing and the next we know is that our huge investment is reduced to almost nothing.
Investing in a coin during its glory moments can be dangerous as well because you can predict what can happen next.
The issue of taking profit ends up affecting people who are waiting to get the best out of a project, always remember that you are not the only investor and everyone is alert in case something wants to go wrong. No profit is too small when you can't guarantee how long a project will be holding its ground. You should always be smart and alert with taking a profit.
In case you want to see the video, you can watch it.
It is a new week and I believe that we are all charged up to achieve greatness, I pray things work out well for us all. Amen
Thanks for reading
Everything said in that video is amazing