The needed psyche for any cprytocurrencies investor

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This is not a preliminary write up on cryptocurrency for I know majority here are deeply resourceful in its knowledge already. But the question is do majorities have the right psychology a-head for this incredible technological invention such as Bitcoin, Litecoin, etc.? If you are reading this, I am thus certain you (could have) learnt of the rudimentary as per cryptocyurrencies somehow through the information shared by someone or so digitally or conversationally; otherwise, probably I should say I believe you could not have learnt them outside these 2 reasons:

1. You Learnt about the Excitement: all you knew prior to the introduction of crypto space to you was just the fiat currencies which are centralised and which are the responsibilities of the worlds governments. You work in the ways you know, get rewards, you expend and probably spare little out of the money to save. But dramatically, the technical terms Bitcoin, Litcoin, Steem, Sbd and the likes popped-up in the scene of your economic life alongside the bounty financial benefits therein them. Then the excitement and the want to be one of its adopters fills your ‘commercial’ mentality as cryptrocurrency evidently appears to be the world-changing piece of technological innovation.

2. The Whooping Returns: what naturally makes human beings gladder other than good tit-bits? Learning of the little efforts put into the crypto space by people and the crazy gains in insane multiplicity overtime that follows too encourage. When someone with the investment of $100 after sometime owns a beautiful cottage with Ferraris waiting for lousy runs outside.

I actually would never narrow down the assumption of what made you find yourself in crypto world but I would love to be inferential as to the little I know about the nature of humankind and the world of crypto yet. As of last year, 2017 alone, the entire space of crypto was painted with approximately $429 billion and ICOs –newly released coins into the system with the worth of $5.6 billion in the same economic year alone.

Naturally, these big numbers are quite tempting don’t you think? They would make almost anyone to hardly think twice before trying to venture into it all in order to accrue wealth when the sun shines by perusing some of the options available. But is that good enough? As you would know there are hundreds upon hundreds of differs cryptocurrencies and tokens that are currently being traded on the open market within crypto space. Probably, you have analyzed some of the charts for these cryptocurrencies, and you acknowledge that a few of them were accruing ludicrous profits. So, the decision to give it a try but I know surely you most likely have invested (a lot) in the cryptocurrencies as at the time of reading this yes?!

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Now about the needed Psyche
The rest of this article would be based on the psyche necessary in order to survive fine in the crypto space (cryptocurrency, investing….) that keeps expanding as time advances.
The psyche in sum is the knowledge of what to do and what not to do in order not to find yourself in the blue pool of regret in the long run. At this juncture, I would want to emphasise that I really appreciate the efforts of people (steemians) who, based on minutes update members on here and the world at large about the crypto world, most commonly on free tokens and all that. You all are doing incredibly fine I must tell. But we must try and remind ourselves on the right psychology as well in order to keep properly the mainstay of the profits made and ones to be made in the course of the engagements with the widening world of crytocurrencies. I am right don’t you think? –this is what I am trying to do here as directly as I could:

Be Wary of Social Media Platforms
When we say social media, as you might know, we are referring to internet/social platforms such as the famous Facebook, Twitter and the likes. I would like to urge you to be very sensitive as you relate with personalities on them. You would attest to this; at a point in time you might (have) come across some individuals or users who would claim they are ‘experts’ who know everything related to cryptocurrency. Few of them are identifiable with identities which might be factual whilst a good number of them are with profile pictures of animated character. Few could do well and be smart enough to come around even with disclaimer they are not ‘Financial Advisor’ all in order to convince you for their own wide purses. Those who are unfortunate enough to listen to the ‘professional items of advice’ given by these posers might bite their fingers off in regret in the end when they find out in the stead of gains, what are accrued are losses.

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But what about now?
Now seems like the best time to buy and keep as the prices of cryptocurrencies have falling discouragingly to the extent that some (Steemians) are already selling their steemit accounts. The prices are ever infrequent, they fluctuate based on differs decisions made in the business world here and there. But this fall is way below the prediction of users yes I understand. But is there a possibility that the price of Bitcoin will eventually rise again at some point? Affirmative! Nevertheless, there is no reason to take losses in an unnecessary situation the moment you mathematically sense things might not work well for profit (as profit-making is why we do business of cause right? To invest and make probably doubly the investment at the right time).

Being Conscious of Groups/Channels you are Invited to or Join such as Telegram…
Yes, this includes ‘signal’ groups, ‘whale’ groups, ‘dolphin’ groups, and so forth. You would not get rich there. Any concrete analysis hardly ever supports the entries and targets that many of these groups give and most of them to fail to make for the provision of any. More than likely, if you attempt to follow these groups, you will end up losing a substantial sum of money in the long-term. There are fake channels here and there on Telegram. The admins there and others would feign there personalities for mundane returns for you for they might appear real but are the otherwise. This is where it is always necessary not to be lazy at all on any bit of information as per crypto space on the internet before venturing.

Be up against late researches, wake early to research. Keep researching till it hurts to search any longer . At that point you would have learnt more than needed on whatever. Majority have probably forgotten in which century we are currently. We are in the age of information –and information is power now. Be informed and you are powerful to beat the reach, economically.

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It was noted earlier In this article that there is a whooping some of dollars thrown into the crypto world. Anyone who would not do sufficient researches to be informed on the goings-on, how and where to come in might not earn $1 whilst the person next to the same would be earning times 1 million of the $1 because of deep researches done. Never be behind. Always update yourself on what is new in order to avoid being hoodwinked ‘legitimately’ by nuts appearing officially real.

In conclusion, a wise crypto investor should always think even more than twice before investing no matter how much the money told looks like. Reason. Ask questions. Inform parties for validity. And it is not being paranoid at all or having trust-issue to be technical about this; it is having the right critical psyche to have a big chance against falling in the wrong hands.

© Jodekss
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