Sadly, this is something seasoned crypto will tell you they hear all the time. I don't want to kick you while you're down, but many people have already stated the the most relevant points. During my years in crypto I've joined and observed many communities. I've been asked countless times to join big crypto YouTubers to come onboard as a coach crypto and did so twice because I understood the value of the unique perspective I bring to the table. Both times I opted to leave because of the difference of opinion about how and what information is ethically presented to the community and its students. YouTubers are not financial advisors.

A common misconception is that YouTubers are in possession of some supreme knowledge that no one else has access to regarding crypto or any other subject matter. That couldn't be further from the truth. They were (some still are) just as clueless as you. The ONLY difference is that they've been in crypto longer than you, therefore have a slight head start and have learned from their mistakes (hopefully). However, they're driving motivation is views and likes to increase their numbers in order to collect that YouTube revenue.

The number one rule of this game is to DYOR. There's nothing wrong with being open to opinions, but make sure the source is credible. Being in crypto or any investment market requires you to be dialed in. Assess, process and filter valuable info from the noise and use all that data to make your best informed decision. DO NOT get caught up in hype or the price prediction clickbait. The market does what it wants, when it wants. The sooner you under the correlation between sentiment and the conditions that drive price volatility, the sooner you'll realize more success. BUT even then, expect to take some loses every now and then. Nothing goes up forever and there isn't an investor on the planet with a flawless investment record. In order for you to win, someone has to lose on the other end and some days that'll be you. The lessons you take away from those loses should make you a better investor/trader over time. Refine your strats and learn to manage your risk.

Easy mode:

1. Invest in quality vs trash.

2. Properly timed entry point is everything.

3. Learn basic charting / technical analysis .

4. Control your emotions.

5. Never chase pumps.

6. Learn the correlations between the Crypto and Traditional markets.

7. Patience is a virtue - This cannot be overstated.

8. Visibility is a must - How can you manage your investments if you're not tracking them or their changes. Track and set alerts.

Yes, it's that simple. People make this far more complicated than it has to be while chasing Lambo dreams. That'll never become a reality for 99.4% of people that enter crypto. That's the mentality of gamblers, not investors. Decide which you want to be and do the diligence required to separate yourself from the herd. Just because 1000 people are doing something doesn't make it the right way. When the flock walks off a cliff would you follow them to you death as well? Learn and do better.

--

Thoughts and perspective set free.

Love podcasts or audiobooks? Learn on the go with our new app.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
The Yearn

The Yearn

Thoughts and perspective set free.