In 2017, I first heard about cryptocurrencies, first through a friend who introduced me to Hive (steem, then) and then through Hive and it piqued my interest. I started reading articles and watching videos to understand what it was all about. I got a ton of information from Hive as well as it was basically the only crypto blog I knew at the time. The two bookmarked sites on my phone browser then were CoinMarketCap and Hive (steem, then). I was amazed at the potential of digital currency to revolutionize the financial industry, and I decided to invest a small amount of money in Hive and Bitcoin, and this has been the most eye-opening journey of my life.
Fast forward to today, and my experience with cryptocurrency has had a profound impact on my financial outlook. Investing in crypto has affected my overall financial outlook, my approach to risk, and my long-term financial goals. I have learnt a lot, gained and lost a lot and grown tremendously within these past few years.
When I first invested in Bitcoin, I was nervous about the risk involved. I had always been conservative, preferring to put my money into "safer", more established investments like stocks and landed properties especially because of the environment I came from and the upbringing I had. My mom, from whom I learnt a lot is the most conservative investor I know. But something about the potential of cryptocurrency intrigued me, and I decided to take a chance.
As I watched my investment grow over the months, I became more and more interested in the world of crypto. And even though the journey has been far from smooth, I have surprisingly still remained tied to crypto through the highs and the lows. I started learning about other cryptocurrencies, reading whitepapers, and following industry news. I also began to understand the potential risks involved, such as market volatility and the lack of regulation in some areas.
As I said, before investing in crypto, I had a relatively conservative investment portfolio, with most of my money in stocks and real estate. But investing in crypto opened my eyes to the potential benefits of diversification. I realized that by spreading my money across different types of investments, I could reduce my overall risk and potentially increase my returns.
One of the biggest ways crypto has helped me diversify my investments was through investing in decentralized finance (DeFi) platforms. DeFi allows users to borrow, lend, and trade cryptocurrencies without relying on traditional financial institutions. By investing in DeFi platforms, I was able to spread my money across different types of investments, reducing my overall risk.
Investing in crypto also changed my approach to risk. As I learned more about the potential rewards of taking calculated risks, I began to shift my perspective. I started to think about risk not just in terms of potential losses, but also in terms of potential gains. I realized that by taking calculated risks, I could potentially earn higher returns than with safer investments. I started to care a little bit less about the risk and though this isn't necessarily a good thing, it opened my mind to certain possibilities.
Crypto taught me the importance of taking calculated risks even when I was going into an overall risky investment. For example, when I first started investing, I was nervous about investing too much money in any one cryptocurrency. But as I learned more about the market and gained more experience, I became more comfortable taking larger positions in certain cryptocurrencies that I believed had strong potential.
My greatest mind-shift gained from crypto would be the change in my long-term financial goals. Before, I had been focused on building a retirement nest egg through traditional investments. But as I learned more about the potential of cryptocurrency, I began to think more broadly about my financial future. I started to think about how I could use crypto to achieve my financial goals, whether that meant investing in new projects, starting my own business, or exploring other opportunities.
I am now exploring opportunities to invest in blockchain-based projects that have the potential to disrupt traditional industries like finance, healthcare, and real estate. I am also considering starting my own business in the crypto space, using my knowledge and experience to build a successful venture.
Another aspect of my experience with crypto is the community that surrounds it. The crypto community is a passionate and engaged group of individuals who are deeply committed to the principles of decentralization, transparency, and innovation. Through online forums, social media, and meetups, I have had the opportunity to connect with other crypto enthusiasts from all over the world. We have shared ideas, debated the merits of different projects, and worked together to build a better future for crypto.
Being part of this community has been an incredibly rewarding experience. I have learned so much from others, and I have been inspired by their passion and dedication to the cause. It has also helped me to stay informed and up-to-date on the latest trends and developments in the crypto space.
Of course, not everyone in the crypto community is friendly or helpful. There are scammers, trolls, and bad actors who are looking to take advantage of the unwary. But overall, I have found the crypto community to be a welcoming and supportive group, and I am proud to be a part of it. My experience with crypto has been about more than just financial gains. It has been a journey of discovery, learning, and growth. It has opened up new opportunities and perspectives, and it has given me a sense of purpose and direction.
Another important aspect of my experience with crypto has been the sense of empowerment that it has given me. Before investing in crypto, I felt like I was at the mercy of traditional financial institutions and systems. I had little control over my investments and was frustrated by the lack of transparency and accountability in the financial world.
Investing in crypto has given me a sense of control and ownership over my financial future. With crypto, I am my own bank, and I have the ability to manage my investments and assets directly, without intermediaries or gatekeepers. Not everybody may agree with this of course and a few people might even argue that is the opposite with crypto. I believe though that these people do not really understand the fundamentals of crypto and the blockchain. It is also possible that they have had bad experiences with one of the many bad or outright scam crypto projects of course. It is impossible to avoid this, especially with a new and growing financial system that is disrupting the norm.
This sense of empowerment has also translated into other areas of my life. I know it sounds cliche but that is the way I feel. I feel more confident and assertive, and I am more willing to take risks and pursue my goals. I have learned that by educating myself and taking control of my financial future, I can achieve things that I never thought possible.
Of course, this sense of empowerment is not unique to crypto and different people can achieve this through various means. There are many other ways to take control of your finances and build wealth, whether it's through traditional investments, entrepreneurship, or other means. But for me, investing in crypto has been a powerful tool for achieving financial independence and self-determination.
My experience with crypto has been a transformative one. It has had a significant impact on my financial outlook. It has taught me the importance of diversification, risk tolerance, and thinking about my long-term financial goals. It has introduced me to a passionate and engaged community, and it has given me a sense of empowerment and control over my financial future. By investing in crypto, I have become a more informed and savvy investor, and I believe that I am better equipped to navigate the changing financial landscape.
Of course, investing in crypto is not without risks. It is a volatile market, and there are still many unknowns and uncertainties. But for me, the potential rewards outweigh the risks, and I am excited about the possibilities that crypto presents. In the end, my experience with crypto has been a positive one, and I am grateful for the opportunity to learn and grow in this exciting and ever-changing space.
If you are considering investing in cryptocurrency, my advice would be to start small, do your research, and be prepared to take calculated risks. Crypto can be a powerful tool for building wealth and achieving your financial goals, but it requires a level of knowledge and understanding that goes beyond traditional investments. If you are willing to take calculated risks and embrace the potential rewards and losses of course, investing in crypto can be an exciting and rewarding journey. It has certainly been for me.
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Written by @gamsam
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