Crypto can't make you rich

Cryptocurrency is the future money of the future world and in the upcoming years people will understand it well. Very few people know about cryptocurrencies at the present time, but the knowledge related to cryptocurrencies started to spread quickly. There are many people who heard the name of cryptocurrency and learned a little bit. Some maybe dared to make some investment also. At the end most of them end up losing their funds and they start to blame crypto for it.

picture generated by Rafiki

I am living in such a country where very few people know about cryptocurrency. If I want to discuss something related to crypto, it will be hard to find a person except my little brother as he also learning many things with me. So, I asked one of my cousins who has been abroad for a long time and I asked him if crypto is legal in the country he is staying in and about his thoughts related to crypto. I thought he may have some insight to share with me.

He said that he also made some investment long ago and he lost all of the funds he invested, and he suggested that I stay far from crypto as it will lead me to the dead end. I didn’t say I made any investment, but he insists saying crypto is very dangerous. Hearing his statements, I was smiling as I have a good amount of investment in crypto and all the assets I have in crypto came from zero. I didn’t make any single cents of investment from my cash money. So, there I have actually nothing to lose. Like my cousins I also heard some people having same thoughts about crypto. Why is it like that?

The cryptocurrency market is a volatile market, and I think one should come to the cryptocurrency market after knowing the truth and I already said it many times that one should invest the money that a person affords to lose. Most of the people come to the crypto market thinking that it’s a short cut way to becoming rich. It’s not fully wrong but it happens only for few people. Most people just make investments without any consideration, maybe by following social influences. When the market is good everyone is crypto influencers and so listening to them means a trap of losing money is ready.

The reality is that there is no short cut way to become rich and trying to find a short cut in finance is foolishness. People are ready to follow social media influences blindly and ready to be doomed. I feel ridiculous when they dream of becoming rich in that way. I think that without knowledge, one can’t be rich doesn’t matter what the field is. In the crypto investing without having knowledge is not less than gambling. In my case, I heard about crypto long ago. I started to gather knowledge little by little and do you know when I made investment. I was a slow learner, and it took approximately 2 years to make first investment.

In the 2 years I read countless articles related to crypto. I tried to understand the behavior of market, and I used to keep checking the candlestick all the time even if I didn’t make any investments. I was doing it to learn and later I made investments. I never thought of getting rich in a short time with the help of cryptocurrency. I feel steady growth seems to be the best way here even in the volatile market. I realized that most of the people who invest in cryptocurrencies don’t even have any strategy and don’t know how to manage risks. When they lose money in crypto market, they blame crypto for it which is ridiculous.

I am saying all those things because in my opinion, crypto can’t make anyone rich. It’s the knowledge and right action which is needed if one wants to be rich. It’s applicable not only for crypto but also for other fields.