notfinancialadvice

Most people lose money in crypto. Why do they lose money in crypto? I lose money too in crypto. Not a big amount like these 'whale guys'. My loss is maybe only a small percent of these guys' usual stop loss. But it is considered a big amount to me.
Why? I tried to examine. First from me. I've known crypto since 2019. Covid era. Maybe you guys knew earlier. Yes. Back in 2009, I knew nothing about crypto at all. All I knew was Facebook. And I was probably in elementary school. If I had known crypto earlier back in that day, I would be a billionaire now.
But no, I'm still claiming faucets and airdrops. Truth is, I'm still hustling trying to make it. I've tried meme coin trading. No luck. I lost money faster than people can react to memes with 😂 and headstone icon — damn I forgot where the emoji is. 🗿. Nah there you go, I've found it lol.
Bottom line is, I don't know what is causing it. But I've done my research, and it comes down to two main reasons.
Two myths, actually.
Myth 1: I need to find the next 100x
FOMO kills your net worth faster than a rabbit gets sucked into a rabbit hole. What? 🗿.
Whatever, you know how it goes. We are not in the era of Bitcoin anymore. It is over. No sane person will ever check CoinGecko and try to find the next potential 100x gem.
It. Just. Doesn't. Happen.
It doesn't work like that anymore.
But there it is. People still hope for the impossible. Why is that? Need to get rich quick? There you go. Don't worry, me too. Everybody does. Nobody wants to invest in blue-chip stocks and expect normal annual return. That doesn't feel normal anymore, right?
Myth 2: If I buy more coins, I have more chance
This doesn't work like fiat lol.
Take a look at meme coins — it's ugly, but it is a meme tho, what do you expect? 99% get rug-pulled. That's why over-diversification leads to disaster. You have a better chance focusing on 2 or 3 projects that matter.
The other reason people lose money is not having an edge. What is an edge? You see, this industry is highly speculative. You need information. And information is valuable, in a space built on trust. Knowledge is power. Literally.
Second, talking about the emotional side: overtrading, revenge trading, etc. This too is fatal, because futures perp is quite a dangerous realm if you proceed with emotion. You can't take your emotions with you. Gotta remove them completely. Is it possible? Perhaps. To be reborn, you have to die first, right? Also, have an exit plan with you.
Know when to enter and cut your position. You can't hold them forever. Your floating profit is not your actual profit until it lands in your wallet, and same with your floating loss — it is not your loss until you decide to cut it. Pray to God to give you strength to accept the things you cannot change, and the courage to change the things you can. Always involve a higher power in every action you take, and that includes life.
And I want to talk about this one. There is actually less risk in terms of making some real cash into your wallet. But it may feel painfully mundane, boring, and not very "thrilling".
For example: DCA, staking, something like that.
But speaking of thrill — ask yourself. What exactly do you pursue? Do you pursue money or the thrill of it? Know thyself. If people say this industry is quite similar to gambling, they could be right too. Everything is gambling anyway. Your mother gambled her life to bring you into this world. Everything is a gamble. So choose your bet. And choose how much you're willing to risk. And make sure you only risk as much as you are willing to lose. Because the money you put on the table will quickly vanish like a Bugatti on the highway.
We've reached the end of this post.
And I just want to sum it up this way:
If you think crypto will make you rich quick, think again — you will encounter your biggest heartbreak since your first ex.
But if you choose slow and steady growth, then maybe it is a good fit.
So, what do you think is the biggest lie in this industry that they are trying to feed the masses?
#cryptotruth #writetoearn #Binance #CryptoReality #NotFinancialadvice