Avoiding FOMO in Crypto

in Project HOPE2 years ago

There is a lot happening in the crypto space and sometimes its difficult to cope up with all of this. Its because of time and even lack of knowledge. Maybe people who are experts in crypto do it all but for someone who is not a pro, then it will surely be thought to manage it all. It happens with me and still, I try my best to catch up with things as much as I can. While I try to manage multiple things I also ensure that I don't miss out on the learning side because its very important and missing it any day is not a good idea. I have already shared that I spend some time on learning and crypto reading every day and this is what helps me to enhance my knowledge.

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While we need to invest time in learning, then we also need to follow a few things in this market. One of the important factors that we always need to avoid and its FOMO. FOMO or the Fear of Missing out is the situation when we see the price growing and we don't want to miss it which is good but sometimes we end up losing money. We believe that when everyone is investing in this the all these people can't go wrong but is not the right way.

FOMO or the Fear of Missing Out is one of the biggest reasons why people invest in a new coin or digital asset. After all, if so many people are buying a coin, they can’t ALL be wrong. Every day brings an exciting new coin to invest in, but remember – for every cryptocurrency that ends up being traded and accepted by the mainstream world, there are many, many more that die out quickly.

There are thousands of coins in the market and we see some of them these coins mooning which makes us greedy and we think of investing. We should not invest in any coin unless we are sure of the project and or that study is required. We need to go through its fundamental or technical analysis to figure out overall about it. If we see it as a good option to continue then we should invest but if anywhere its not satisfactory then we need to stay away.

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These days we can see lots of meme coins and even some people are making good money out of these but it does not mean that we can also do the same. Things can be different for us so just because people are buying does not mean that we also can do the same.


I am ok to miss the money-making opportunity but I am not ok with losing the money that I hold just because I do FOMO buy. I believe rather than going for easy money in crypto we should look for stable and long lasting options and there are a bunch of things available.
Crypto is here to stay and if you lose one opportunity then you will get another but if lose your money then it will take too long to earn it back so it's better to make a planned a wise investment rather than following the hype and putting money on something that can give us easy money but at the same time, it can be so risky too.

Thank you so much
Stay Safe

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Greetings @reeta0119 with the rain of information and project that appear daily in the blockchain world is normal to appear in FOMO, now we must learn to filter and take advantage of good projects. Greetings

I tried to avoid FOMO in every angle. We all have seen how people bought the top just because they bought the top.

But we should avoid this because it can lead for losses. thanks.

Hi @reeta0119
Thank you so much for talking about this interesting topic in crypto space and I believe this is one of the topic which can help a lot of uses which can surely help them to avoid this situation..
Fomo is one of the situation which happens with most of us sometimes it can be loss making so We should always avoid getting in to it.

Some people have done FOMO and they realise that they bought the top and the coin starts dipping. Well, the crypto space is not predictable but people should try as much as they can to avoid FOMO.

Nice tips you put here. Thanks for sharing buddy

Excellent article @reeta0119, the fomo generally as you mention can lead us to have significant losses, since we enter the project at the last moment, I think that can bring the lack of knowledge of the market and study in depth about it. That is why I consider this information very educational and of great interest to keep our finances safe.

See you later, have a great weekend.

 2 years ago 

Dear @reeta0119

I enjoy reading this post a lot. After all, topics related to technology, business, economy etc are at top of my list.

I also ensure that I don't miss out on the learning side because its very important and missing it any day is not a good idea
sounds like you're fearing of missing out on something too :) FOMO hehehe (just kidding).

On more serious note: I felt into FOMO trap several times before I've learned that it's always ending up badly. Right now, whenever I feel that emotion growing - I simply assume that all I need is to be patient and wait till FOMO will go away. I'm trying really hard to do nothing, as I understand that most of my actions (Caused by FOMO) would bring negative results.
Sometimes it ain't easy.

Upvote on the way.
Cheers, Piotr

Hi @crypto.piotr
I have also been in FOMO situation and lost some money but now I try to stay away from this because losing money is not good. Its human nature and sometimes its difficult to avoid and we just be part of it unintentionally.
Thanks for your comment and it means a lot to me. take care

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