Embarking on a crypto journey isn't at all easy. While others make it look simple, there isn't always a big paycheck waiting for you after investing some of your hard-earned dollars. In fact, there were more rug pulls and heartbreaks the last few months than there were wins, especially in the altcoin world.
As a new crypto trader trying to make money out of this thing, it's easy to lose heart and just walk away empty-handed. You'll often wonder how those people can keep on HODLing while your funds kept on dwindling. Unless you've got money in some bottomless pit somewhere, you'd like to be in the crypto scamming corner yourself at one point.
I tried my luck on IDOs and IPOs, and nothing has come out of it yet. While a lot of people are boasting of the big wins they've had, I was left in the mud. What am I doing wrong? A lot of things, really. Here's what:
I just kept following the trend.
In the crypto world, FOMO feeds the whales. If you keep following what others say without doing your own due diligence, you're setting yourself up for failure. You have to know exactly when to jump, run, or cry. No one's going to wait for you. Ever.
I don't have lots to spend.
They always say invest what you can afford to lose, and that's very true with crypto. The market is very volatile and it's practically goodbye the moment you click that Buy button. For my part, I'm keeping the loss at a minimum. But that only means I'll be winning at a minimum too, if ever at all.
I'm too lazy to learn.
There's nothing easy to understand about crypto. If you're new to this world like I am, you'd think that you just stepped into a new planet with people talking a digital monosyllabic language. If you can't train your mind to understand the dev speak, it's near impossible to get anywhere in this world.
I'm too impatient.
You have to know by now that HODLing is a very popular term in crypto, and for good reason. Contrary to popular belief, people don't get rich here overnight. Well, some do. But if you're just like me, you won't. So don't dream or even dare to ask "When Lambo" just yet. Believe me, it won't happen anytime soon. You first have to learn the all-important skill of HODLing.
I'm an idiot.
Oftentimes, I use my guts to determine if a coin will go up or if a project will flourish. I don't know what level of authority or experience I gained a few months dabbling into crypto that gave me the idea that I can go it alone. You'll need really, truly, perfectly trusted experts to lead you by the hand. But unfortunately, that's nowhere to be found in crypto.
These realizations lead me to just one thing: I have to get into this rabbit hole a whole further. This is one journey I won't back down from. I may transform into a crypto master or I may not. Even so, this ride is too bumpy and too crazy to pass up. Wouldn't miss it for the life of me. Crypto on!
Hodling not just for dear life, but also for my sanity 🤪