5 Reasons You Keep Loosing Money In Cryptocurrency

Investing in cryptocurrency has become a sad tale for many and has also reinforced the fear in various community about cryptocurrencies. And if there's anything fear is good at , it's trapping both the victim and the people around. The cryptocurrency market although nascent is quite volatile and also a factor many fail to understand or come to terms with. It is certain that by jumping in blindly you will continue to lose money no matter how frequent you invest. So here are 5 rules you want to stick to in the crypto world.

First ditch the FOMO syndrome. Time and time again people have lost money because everyone was buying. What they fail to do is make their own research into why people are buying or if the project is worth buying into. They get swayed left and right whilst losing money in the space because they fail to have a mind free from the market frenzy. If Mike buys Squid game token they will, if Lola buys Pokemon game tokens they will too without figuring why they are buying. It is very foolish to follow trends in the crypto market and it is even worse for a newbie. Should you lose money, Lola or Mike won't reimburse you and neither will Binance or any other crypto exchange. The crypto world is plagued with many people who think they are always right and without a mind of your own you might get lost in their games.

Secondly don't be greedy. The greed in certain people blinds them so much they constantly find themselves in crypto ditches. With the increase in pump and dump markets, many greedy people see them as an opportunity to make money quick. Sadly, they get rug pulled before they can even take profits and although some get lucky it's only matter of time before they get blinded by their luck and lose everything. Some of these people are actually smart people but their greed often get the best of them and they go on to blame the crypto space when it was actually their greed that put them in that situation.

Thirdly overcome laziness. Often times people shy away from making proper research because of the time and effort required. They find it difficult to read a whitepaper or study a projects road map because they are lazy. Constantly they try the quick get in and get out method but this doesn't do you any good overtime. The crypto space doesn't work that way and to avoid wasting time on fake or useless projects a deep study into these projects will help you weed the shit coins from the real coins while saving you a alot of money. If you are not one to do proper research into projects then staying away until you can will be better.

Another important rule you need to abide by is the willingness to learn. I have met people who just want you to tell them the best tokens or coins to buy without an intention of learning about them or what they do. While they are thinking they are saving themselves time they are actually closing their eyes to the opportunity of learning about these cryptocurrencies. I am wiser than I was last year because I took out time to read and understand the space and how it works plus I am certain I will become even better over time. As a person on their way to attain the ultimate financial freedom it is not always smart to choose the easy way . Take out time to learn about the cryptocurrency so you don't get swayed easily and get exposed to more money making ways in the space.

And lastly stop panicking. A bearish run doesn't mean you have to sell, learn to hold assets long term because constantly selling during a bearish run will leave you with more losses than you can bear.