As a risk-taker in the world of crypto

Disclaimer: The following statements do not advertise any coin and not a financial advice from a professional, consider to do your own research and invest only what you can afford to lose. This is only the author's point of view based on her own experience. Crypto is already subjected to high fluctuations of value and you may consider possible loss once you take the risk of entering the world of the crypto-verse.

As an investor, crypto blogger, and trader, exploring blockchain is a somewhat exciting and nerve-wracking experience. You may encounter a lot of confusion when it comes to terminologies, procedures, and all that if you do not start from scratch and jump to it immediately without testing the water but somehow, a risk-taker can take advantage of this kind of situation. If you are also one of the believers that digital money or cryptocurrencies are the solutions to resolve the issue in our financial world, you can gain more confidence in the coins and tokens you have right now. Revolution is waving. You have been aware so I am going to explain some of the perks of being a risk-taker and how to be wise when it comes to diving into a world that you are not familiar with.

• Knowledge

  Learning takes time and effort and investing while you don't have enough knowledge or information is taking risk already. Awareness can help you avoid scam and suspiscious projects, knowing the information about the project is a great start before putting your money into it. You have to look for the basic info such as website, whitepaper, tokenomis, team behind the project, who are the investors, and so on. If an investment opportunity seems too good to be true, promise unrealistic returns, it’s a scam. Avoid them, and ignore any further messages.

• Access/ security/privacy

  Since cryptocurrency operates on blockchain technology, which at its core is used to record financial exchanges some of us prefer using centralized over decentralized exchanges, the security concern will probably increase.

  You can protect it by;

  - Being Responsible,

  - Not losing or forgetting passwords,

  - Use secure crypto platforms and exchanges

  - NOT YOUR KEYS, NOT YOUR COINS (keep your seed phrase and private key)

  Giving your data is risky enough to lose your funds, investors should not only rely entirely on security in the blockchain, you have to take personal resonponsibility to protect your information and money. It is very important to secure your privacy to keep your data secure and wide eyes open. Remember, no legitimate company will approach you asking for money, and you shouldn’t send currency to random strangers either. 

• Volatility

  Crypto price movements are very volatile and everyone must know it. You have to identify which coin is for your short and long-term hold so it will be easy for you to diversify your portfolio. The most famous line to be safe on this volatility is to buy low, and sell high. It is pretty easy to understand yet many of us failed to follow this because of our greediness, once we earned some, we tend to enter without hesitation and give it all wanting higher rewards. Being a risk-taker can lead you to become instant rich or not. When you are a risk-taker, you have to remind yourself to set aside your emotions and not put all of your investment in one shot. Risk-taker must also be a wise thinker.

• High risk, High reward

  You might seen it everywhere and that's true, you will get higher rewards when there is high risk. If you want to earn big like others, you have to remember that before they get into it, they also have big losses. That what makes them more stronger, you have to lose in order to learn and gain something. Like what they said, experience will help you improve.

Take risk, if you win you will be happy but if you lose, you will learn and become wiser. Be brave to take risks, nothing can substitute experience.

"The biggest risk is not taking any risk" - Mark Zuckerberg

All those opportunities in front of you will not gonna wait for you to take risk, it's etheir riding together with the train or you let it pass and that opportunity will be gone once you ignore it.

I have this saying that regrets are always there but the moment you tried something is already being brave enough to take a risk and step up.

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Author's Note:

Article #131 (April 25, 2022)

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