It has been couple of years since crypto is a part of my life. So much has happened and so many lessons have been learned over the course of life. Some were useful, while some has backfired! But even after all this, I would say crypto has been one of the best event which really happened into my life.
Whenever there is investments involved, there are risks. It is either you make profit or you end up in loss. Being a beginner in the early days of mine there were things which really shocked me, baffled me in ways which I can not even explain in words. It was sort of like, invest in crypto and become a millionaire in couple of days. But little did I know this thought soon started to diminish and reality started to come in front of me.
When the market is in bull trend than the usual aspect of crypto is shown to people like us. Its like influencers saying invest in this and get 100x and so on. Market also reflects that and shows some very positive gains. But the real fun starts when the market is in bear trend. That is when everything starts to come in front of us. That is when you start to analyze, use skills, make proper and wise decisions. If one can survive one bear market without that much hit in his/her portfolio the real excitement begins on the next bull run.
Image source
Lessons learned from the loss/worst decisions
If its too much lucrative, be alert!Yes, I have fall for this too many times. This usually happens when the market is in bull condition. Countless projects starts to emerge and they began to give lucrative APR's or returns for investments into their projects. Which is why before diving into projects such as this, please do a background research of this project and always ask yourself,why they are being so generous?andif they have this much money than why do they want my money?Once these questions comes in front of us, you will definitely know what to do!
Do not follow the crowd!I have been doing this as well and I fall into pit hole too many times. I followed some people who were getting some insane returns from their investments and I got too intimidated and followed them without much of a result. Which made me loose money and ultimately learn from those mistakes. I am not saying do not follow others, what I am saying is follow those who are already successful and share their wisdom. Also you have a perfect brain to utilize. make it work as life is not really that easy my friends.
Never go all in!This sh**t happens all the time. I get too much excited and invest whatever I have and when the market is down I end up loosing a great chunk of my portfolio and be left out in the corner. Which is why always keep some extra cash and have backup for uncertain situations.
There are tons of things which we get to encounter in this crypto journey of ours. Not all of them are useful also not everything comes in handy. But some of this lessons that we go through does really helps us in our real life as well. I was able to learn few things which to date, I use them in my life and in my crypto journey. I must say, I have lost way too much in crypto but there were situations where I was also able to make money beyond my imagination (during those moments). So Crypto is that place where if you know what you are doing, it will show you the path to move forward. Nothing really matters, if you can not learn or gain something from your time or investments. As at the end of the day, you will be one who gets to suffer of gain from your choices/decisions. Be Wise and Be Vigilant. As during next bull we will see, what really awaits for us ;) Be prepared!
Best regards
Rehan
If you want to play Splinterlands
Join via, My Referral link
Splex.gg Rental Service
My Referral link
Posted Using LeoFinance Beta