My encounter with blockchain came as a result of a friend who introduced it to me. Firstly I asked him what crypto is and he stylishly told me digital currency. Is it all about digital currency? My interest developed and I found out that it is more than an ordinary digital currency but the future of money.
I realized that the possibilities are endless which are not limited to cryptocurrency but also healthcare, Money transfer, Smart contracts interaction, the Internet of Things (IoT), Personal identity security and many more.
Image by mohamed Hassan from Pixabay
Cryptocurrency and Mental Health
Is it truly the future of money? At first, it does not even make sense when you read the whitepaper of the first cryptocurrency. The second reading gives some fantasy and different thoughts about its endless possibilities. For self-learners who know nothing about the bearing or where and how to navigate the paddles, it becomes a serious concern. For someone whose mentor is vast in blockchain, it becomes easy.
The greatest fear of a trader is to see his capital going into extinction without possible greens. Even if your trading knowledge is better than the chart itself and both your technical and fundamental analysis are top-notch, you will not wish to see your funds being in the red. Hence, total health plays an important role in a cryptocurrency trader's life.
Health Challenges
1. Depression: This is a common and serious medical illness that negatively affects how you think and the way you feel which results in your action. As a crypto trader, it is what you need to watch out for and be able to manage. The rule says that for every green chart, there is always a corresponding red chart waiting. Knowing this gives you a resting mind and positions you for the worse.
2. High Blood Pressure: This is also called hypertension. It occurs when the blood pressure is higher than normal. Based on your activities, your blood pressure changes throughout the day. For a crypto trader, the possibility of developing an HBP is higher which needs serious medical advice.
3. Fear and Mood Swing: This is another likely challenge a crypto trader might face. Imagine investing a thousand dollars and realizing the money is gone. This creates fear, especially for newbies whose navigation knowledge is still an infant.
Possible Solutions
Health is wealth they say; knowing well that not every investor or crypto trader is mentally disturbed. To limit this health problem certain measures must be taken which include;
• Effective risk analysis
• Investing what you can afford to lose
• Avoid fear of missing out (FOMO)
• Trade with caution
• Explore, Endure and DYOR
