Is your cryptocurrency portfolio not in good shape? Do you see a sea of red upon checking the cryptocurrency prices this morning? Are there are tons of FUD circulating the internet and you think it’s time to convert all your digital coins into fiat once again?
These situations aren’t new to cryptocurrency investors, but many couldn’t help but still feel anxious about how to move forward with their Bitcoin trading venture. The extreme volatility of the market is particularly feared by beginners. There are also cases in which a specific coin appears to have immense potential and then suddenly, its price plummets to the gutters. You could make several bad trades, but you should understand that being rich in cryptocurrency doesn’t always come in the form of monetary gains.
Harnessing and Developing New Skills
As you get acquainted with the cryptocurrency market, it’s almost inevitable to acquire new skills and develop them to the point in which you can apply these same skills in other areas of your life. A prime example is an importance of keeping your privacy. Back in the day, you may not have paid the slightest attention to how private and secure your online transactions are. You probably didn’t even care about divulging certain personal information for everyone to see. But thanks to crypto, you’ve learned that there’s a way to do safer transactions while keeping yourself totally anonymous.
You may have also found a new thirst for knowledge. Instead of spending all your free time playing video games, you now dedicate this time to reading and expanding your knowledge about cryptocurrency and other financial markets. In many ways, investing in cryptocurrency is like playing a game. You win some, you lose some. But in the end, you enjoy the ride and pick up new skills and knowledge along the way.
Take a moment to look at the graph of Bitcoin’s value since 2008. Although it shows a huge decline this year, it has seen a tremendous growth over the past decade. But this graph also shows how far you have come in terms of learning how to trade and manage your financial health.
Knowledge Trumps Gains
Imagine what you were like when you first learned about cryptocurrency. Now think about where you are today. You’ll realize that the former is completely different from the latter. You may have entered the realm of cryptocurrency for all the potential gains, but you now find yourself staying for how it has changed you on a deeper level. You are way smarter today as an investor, questioning everything instead of believing all the news you find online. You do your own research and choose what coins to invest in based on your own beliefs, principles, and interests.
Despite the huge earning potential that digital coins bring to the table, you understand that making mistakes cannot be avoided. You may have bought coins at their all-time highs. Or maybe you’ve missed a new coin that has grown in value by a hundredfold in a matter of weeks. But just like investing in stocks, you simply can’t find all these opportunities. It helps if you have trading tools like Crypto CFD Trader to make timely and accurate trades, but don’t be too hard on yourself if you make bad decisions or lose money.
You might also notice some trade-offs. For instance, you may have become the kind of person who always manages to bring up Bitcoin regardless of how a conversation started. It’s also possible that you now share fewer similarities with your former friends because of all the time you dedicate to trading. Being a Bitcoin investor doesn’t always mean you’ll become a better person, but it’s almost a surefire way of making you a wiser one.
Earnings for Life
Ask yourself what happens if you decide to stop investing in cryptocurrency altogether and revert back to your life before learning about Bitcoin. Surprisingly, you might see a bright future waiting for you because of all the things thing you’ve learned in this venture. Sure, you might not have reached financial freedom yet, but you’re now more equipped than ever to tackle new challenges and find effective solutions through your own skills, confidence, and determination.
Even if the exchange you’re using gets hacked right now, nothing can take away the knowledge you’ve acquired. You might be digitally poorer, but you come out richer when it’s all said and done. All this talk about Bitcoin, blockchain, and decentralization isn’t what makes cryptocurrency such an interesting asset. It’s the knowledge you gain every day since entering the market that could separate you from those who ride the waves purely for financial gains and those who truly understand what it means to be crypto rich.
