Developing the Investor's Mindset
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Welcome to ML-BLOG.
In this post, I will be airing my opinion on the need to invest in the crypto market rather than trading it. I'd like to let you know that what I say here is not in any way written in stone. As such, one is permitted to do whatever works for them.
From my short crypto journey, I have come to realize that one of the best ways to be successful in the crypto market is to invest in it and not trade it. When I got introduced to this space, I had this notion of trading, otherwise known as scalping. When I felt there had been a dip, I would quickly buy a coin and prepare myself for its disposal as soon as it reached a certain gain, but to be honest, this only landed me lost and more lost until I was forced to learn the hard way.
Trying to make it quick is the major reason people think that trading is the right way, but I guess at some point, they get to realize their worst mistake, which is why I am letting others know the best way to go.
Developing investors mindset
Many of us have the hive platform as our first encounter with cryptocurrency, and aside from hive, we barely know anything about any other coin. Making an investment requires one to have good knowledge of the system and some level of trust in the system. Understanding the tokenomics of a coin gives insight into placing a trust level on it.
Aside from tokenomics, market caps, total supply, total staked and others are some of what is being looked at before choosing to invest. When these are understood, you get to know the level of growth such a coin can attain. Also, keeping a close eye and reading lots of crypto market analysis helps a lot.
Investing, being the preferred and successful method, is, however, a long term project as yields from staked coins drop gradually and one can only hope that the chosen coin maintains a high market value. It's also proven that staking qualifies one for other existing or newly introduced benefits.
Overall, the right investment will make you gain overtime, but trading will likely take you to zero unless you are such a person who believes in luck, but even if you get lucky at it, it isn't the best way to go about crypto because it doesn't help the system at all.
There's no gain in making money just to lose it in one bad deal, and that's what scalping does to you. It makes you feel like you're winning while preparing for a heavy loss. However, the next time you think of making it big in crypto, try developing an investor mindset and ditch the trading mindset, then your journey will start heading the right way.
Thanks for reading
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