I have been stalling a bit to write this, because it has been a while since I wrote this type of content, but then I finally got some external motivation and finally I am writing this.
I have been in the crypto space for about 4 years now and over the course of that time there's been a lot to learn. I was a newbie at the tail end of the last bull (start of the bear), and so I wasn't quite experienced, but watching all the little assets I invested in then was quite the experience. The bear brought me here (to hive) and here I have learnt a lot about crypto. I also learnt things that are not necessarily crypto related, but are traits that are needed in order to succeed in this space. Some of those things I have learnt are what I'll be talking about in this blogpost.
YOU HAVE TO BE PATIENT
The power of patience in this space cannot be overemphasized. Whether it be investment, trading, airdrop hunting, writing blogs on hive, looking for work. All of these require patience. This space tests your patience with intensity. At times you'll see your portfolio tank massively and due to lack of patient you'll sell only to watch it reverse instantly. Or is the airdrop hunters who do endless tasks for months on end and sometimes even years waiting patiently for when they will finally be rewarded? The successful people in this space are very patient people who are able to be consistent even when things are not quite clear.
YOU CAN BE THE HARDEST WORKER AND STILL LEAVE WITH NOTHING
Yeah, this is the sad truth about this space. Working super hard doesn't always guarantee that you will make a lot. Other factors such as what exactly you are putting your time, effort and money into, and luck play a big role. You may end up wasting your effort on a scam, so a lot of the time Information beats hardwork. Work smart, not hard also applies in this space.
EVERY PROJECT IS DIFFERENT, DON'T GET PTSD
This is one thing I always struggle with in this space. I remember after I got this particular airdrop I jeeted instantly cause it was a memecoin, but I didn't look at the people backing it and it's potential, and in about 2 months the same amount I jeeted did a 10x. It wasn't a loss, however selling my drop for peanuts hurt. Then when I received another one, I held it. And now that one has become dust. The project you jeet may touch the moon, and the project you diamond hand may dig crude oil, so always do your research and try to look at things individually not just operating on past knowledge.
MONEY STOPS NONSENSE
Yup, just like in almost any endeavour, money is king is this space. It is a lot easier for the whales to make money in this space. At times it feels like it is a, "rich getting richer" situation. But the oppurtunities for the small fish are more here than in traditional finance so there's always still hope. However having more money will make life easier for you.
YOU HAVE TO TAKE RISKS
Note that when I say risks I mean calulated risks. Risks where you can afford to bear the loss and if it favors you you'll profit greatly. In this space if you don't take risks there's a very high chance you may never make it. You have to be ready to take risks.
NEVER GIVE UP
This is the most important rule in this space. Do not give up. If you give up you automatically miss out on all the future oppurtunities that will present themselves in the future. This is one of the easiest times to accrue wealth in this space and if you give up you automatically miss out on that. I do not plan to miss out on that, which is why no matter how tired I feel I don't ever leave. I may take one or two breaks, but giving up is not an option for me. There's a popular Nigerian slang that says "Na who give up fuck up." I am not giving up and as such I'm not fucking up.
These are just a few of the things that being on this space has thought me. And on a daily basis I am still learning new things.
THANKS FOR READING
Cover image by Unseen Studio from Unsplash
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