Hello Project Hope Community, I wish you all a great start of the week, may the days ahead be filled with lots of productivity.
All of us who are on this platform, in one way or another we have a vision of what is investment, whether we want or not, we are in the situation to investigate about it, we know different projects that make us open our minds in this area, some we like, others not so much, but in the end, we are on the way to invest.
From my own experience I know that many when starting in the cryptomundo want quick profits, it happened to me at some point, and the reality is that it is not always going to be like that. Let's face it, sometimes, if we can catch a good rise we get a good profit margin and fast, but it is not something that happens frequently.
In view of this reality, as time goes by and also in this financial world, we are realizing that more gains often means more risk of losing as well, which some like but others do not, it is a matter of the characteristics that each of us has as an investor.
But in the last few months it has become much clearer to me the role of patience and the importance of looking at the long term in terms of profits sometimes it is better to be able to back up the money earned. Although the truth is that those of us who are here in the world of cryptocurrencies are for the fact of that possibility of earning good money fast, but knowing what we must risk, at least most people.
I think that the ideal is to have a variable source of income, which is distributed in such a way that a part of our capital is to have low income but with low risk, seen more in the long term, but allocate a part of our capital to those investments of risk, that they can eventually generate a good source of income for us, but that it is not the majority of our money, at least that is how I see it.
It is obviously a point of view, that I have created with these 4 years that I have in the world of cryptocurrencies. Far from being financial advice. I would like to know if your way of looking at investments has changed over time. Thank you very much for reading my post.
Hello @josevas217, there is a very wise saying that says "from haste remains is weariness", when one makes investments expecting to make quick profits the risk of loss is greater, so as you say it is better to make small investments but that guarantee profits that although small for sure will be useful.
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Patience is and always will be something very important for whatever we do, and in the case of finances it is not a separate case.
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greetings @josevas217
this world where we are is attractive and dangerous, believe that we will become rich overnight is false, however lucky you are, it is always important to have clear goals and go one step at a time to reach the top and very careful because you can slip by greed and avarice. prudence and patience are the best allies.
Thank you very much for sharing
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Congratulations, your post has been upvoted by @dsc-r2cornell, which is a curating account for @R2cornell's Discord Community. We can also be found on our hive community & peakd as well as on my Discord Server
Felicitaciones, su publication ha sido votado por @dsc-r2cornell. También puedo ser encontrado en nuestra comunidad de colmena y Peakd así como en mi servidor de discordia
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Thank you for support
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Investment is a bit like marriage, I mean on getting attracted.
Some hot cryptos... but the stragergy depends on you as a investor...
How much are you spending time trading for crypto projects you based on hype to make good profits.
If your a active trader and abreast of project happens...you can be sucessful.
But that's risky...
What I learned is having patience is key... and you don't need to buy hot cryptos... but cryptos that are sound like BTC, ETH, and mid cap ones DOt, Atom, Matic and chill... follow these projects... price action and developments.
Then eventually grow your portfolio to other newer crypto projects after research...
Taking profits is important because else obviously in bear market you will be at a loss...
I am completely broken in my crypto journey(: ... meaning did not become rich or make much wealth inspite being in space since 2019... so you got to be smart as well... street smart.
Diversification is important and being decisive, for good projects in terms of populatiry can collapse - like Terra did or celsius...
So, I would say be happy with your pace of investment, even if gains are slow and expand slowly and in the long run it will benefit.
Not sure it made sense... always know your crypto too as much as possible, be ready to change or sell it if its not suitable, no one is married to their crypto holding.
its easy said than done, coz I wanted Monero for long selling my DCR but waiting to break even atleast in DCR to exchange it for Monero... its hard decisions... anyway
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having patience is key
100% agree with this statement.
The truth is that most of those who focus on trading lose, because it is not an easy thing to do.
But learning it is worthwhile. I particularly like it. I think it is a matter of personal taste, but there are always options for everyone.
There are difficult decisions to make, I know, but that's also what it's about, learning to see what's best for us. Thanks for your comment
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When I first finished school, I had no idea how and what to use my money on! I was wasting it and I would love to travel abck in time to punch my younger self :D
Since then I developed a habit of saving and investing the money. I am yet to find some alternative income streams other than my regular job but I feel like it is easier said than done.
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Well, a young person makes a lot of mistakes, it's true. But we also learn from that, and as adults we should avoid making those mistakes.
The additional income is not complicated to have, it is just that we cannot expect big margins without a big capital.
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Hello friend, I think that after being in the crypto space for a while our vision of investments changes, as you say at the beginning we are attracted by the idea of quick profits, but then we realize the importance of managing risk, and maintain a balance between stable projects and others of of high volatility.
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Achieving this balance is more than necessary.
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@tipu curate 3
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Upvoted 👌 (Mana: 0/3) Get profit votes with @tipU :)
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Thank you for support.
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Getting into cryptocurrency with the mindset of making quick money may most likely not end well for your finances. Some people even quit their well paying jobs for the proposed gains they could make from cryptocurrency, a very wrong move to make. Starting little and growing gradually, is a good move.
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