Being focused inside the crypto space

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Avatar for bala41288
5 months ago

Focus is very important in the crypto world. We have to know when is the right time to book our profits and when it is the right time to invest further. There can also be situations that stand in the middle where we would not know whether it is the time for investment or it is the time for booking profits. Most of the time it is the case but we have to keep studying the situation and be focused.

In addition to investing, there are also many events happening around us. For example, there would be a new project that would give us an Airdrop for holding some other coin. This is a great opportunity I would say but if we don't know about it, we might miss the train. When the Drugwars game was introduced on Steem back then, I joined the game during the early days and was able to make decent money out of it. It did survive for some time and later vanished. These days there are similar games but I've missed most of these games because I'm not up to date with the trend.


Hard to keep track of all new events

When we are focusing on our real life or working seriously on some of projects, it is obvious to miss some of the new events that are happening around us. People who are on track with all the events happening around them get the most rewards. I remember there used to be airdrops and giveaways happening on some of the Discord channels. I remember getting over 100$ worth of crypto just like that from giveaways for just being a part of the server and staying active there. This is just an opportunity but if we don't keep track of these things, we might miss these wonderful opportunities.

Staying up to date with the latest trend is challenging

The trend will keep changing now and then. In the last 5 years, I have seen the trend changing in the crypto world too. During the early days when I joined crypto, mining was trending and many people were into mining. I was also considering purchasing a mining rig and doing some mining at home. I tried joining hands with some of my friends on this and doing it but before even I started doing this, it was out of trend. It was no longer profitable after the bear market started and most of the mining was done by big mining farms in countries like China.

Staying up to date with the trend is very important. There once used to be a trend where people collected rare NFTs and traded them with players for a good price. That trend also vanished and now it looks like playing crypto and blockchain games and earning from them is the current trend. But still not sure how long this trend would last.


We shouldn't spread too thin

We should be able to follow some of the things happening in the crypto world and go along with them. We cannot obviously be everywhere and even if we do something like that, we would be spreading too thin and that is not very good for our growth. We would start losing focus on important things and would be doing only exploration that would not let us learn much or earn much here. Spreading too thin should be avoided and in a way keeping all the eggs in the same basket is good if we know very well about the basket and we are very comfortable about the basket.

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Avatar for bala41288
5 months ago