Topic: Crypto business isn't for everyone - page 4. (Read 588 times)

For those who just want to make a profit and preferably as soon as possible, investing in various tokens/coins is more or less similar to gambling or sports betting. And it's no secret that only about 3-5% of people manage to be profitable in these things, which is also the case with cryptocurrency trading.

There is nothing wrong if someone wants to try crypto trading, but they just need to follow the golden rule of not investing more than they are ready to lose. If after some time a person realizes that it is not for them, they will not be too sorry for the lost money and time, unlike those who lose all their savings, which leads to serious problems in life and even suicides.

The best option for the majority is therefore a long-term investment, but in something that has purpose and meaning and will not disappear in one or two years. Be smart, don't believe false promises - they are mostly the way to your failure, and someone else's profit.

Actually Bitcoin investment is perfect only for extra investment purposes and not for full time because its volatility is very risky that is not worth it to use as full time source of income. I personally just allocate a portion of my salary on my job to crypto in addition to my signature campaign earnings and leave it as is for future investment purposes. I have health and life insurance while I use Bitcoin as my future savings insurance by storing little by little every month without selling any sats on my crypto savings balance. I just allocate different portion for trading and leisure activities.

Each person has their own talents. Someone can do some things better than others. When a person finds his business or his favorite thing, he will certainly give it all his strength. But unfortunately, some people rush about, not understanding what business to choose, and because of this they become impatient, not ready to study but want to quickly change their financial situation. This applies not only to the cryptocurrency business. Patience is an important virtue of learning. The OP is right. If a person is lazy, he will be poor even if he wins the lottery one day. 
Having spent the winning money, he simply will not be able to properly dispose of it.

No truer words have been stated- The Crypto business isn't for everyone.  A couple of the easiest way to tell this is panic selling aka buy high and sell low and expectations of a quick, exponential return.

whatever happens, is not for everyone, and that's right, I don't know why bitcoin and crypto are singled out.
For example, programming is not for everyone. (now I can list all the reasons from the first post)...
greedy for riches but too lazy to learn anything new...


I would just replace the word "crypto" with anything, and that's the whole wisdom.

Sadly, those whom such warnings concern don't listen to them. The #1 reason why people lose in trading is because they believe they are special, gifted, have talent for trading, have luck and so on. Typically it happens when they make some money in a bull market, simply because all coins are growing. Then the bear market comes and instead of cashing out they double down on looking for profit to compensate for some unrealized gains, and in the process they lose everything.

I disagree, crypto business is for everyone. There is varied business related to crypto, it doesn't refer to investing and trading only. Even if you have no money, you can join bounty or airdrop to earn money in crypto businesses. We also can provide a service related to crypto activities, both for the activities in this forum or outside of this forum. For example: Escrow service, art service, promoting a new project service through social media, or so on. So, people have many options to join crypto businesses. They can choose a business that fits their skills/knowledge.

Greed is not bad in the cryptocurrency industry, even in the personal life greed is not bad. It depends on how you perceive the greed or how the greediness affects another person.
If I am giving 3 options to chose and the three are; 0.5btc, 1btc and 100btc. Do you think I will go for anything other than 100btc? Will you say I am greedy.

Greediness in crypto is not bad, but observe the rules. "Be fearful when others are greedy, and be greedy when others are fearful "


Patients doesn't always work in the one way you defined it. It depends on the coin you are holding. If you hold a shit coin, sell off as others are selling. It could dump in your hand and never return forever.  So, be guided.

I deliberately had to chip these in, so that we can know that there are more than one meaning to every statement.

What you mentioned are for just investment kind of business only, more like trading or just buying coins, then call it crypto business.

Cryptocurrency business is too different for what it is like.
Having business in this space is more like only for those who have knowledge the volatility, regulations, have risk management, know how to adapt, security, even attracting VCs who will invest in to the company is a big factor, and having insurance.

Being too lazy to learn is one of the main factors that can lead anyone in the wrong direction, especially when it comes to investing in Bitcoin and other cryptocurrencies. Many people prefer shortcuts, and this is why many new investors lose money because they don't want to learn and conduct additional research before investing. Instead, they choose to follow signals from unreliable sources of information instead.
Being willing to take risks is important because they are a part of every business. The risk associated with investing in cryptocurrencies is particularly high because it is possible to lose money in a short amount of time.

 Cryptocurrency 'Bitcoin' investment is also for people who already have other jobs that gives them income, with this you can invest without thinking much about the profit and also being in a haste to make profit from it. It is like a treasure for people like this.

People that look at Bitcoin as a way to make money are mostly missing the point of the technology, I think. Yeah, it's a good investment (especially at current prices) but more importantly than that, it's a means to financial autonomy, which is to be cherished as a principle far above ROI.

Investing in cryptocurrency is a very nice and lucrative idea but this isn't for everyone. Some people believe crypto is a get rich quick scheme so they invested in it. They invested with little or no knowledge about it. They never consider how volatile the market is. In cryptocurrency, a single token/coin can go in your favour to make you a millionaire, the otherwise can also happen in a bearish market. One shouldn't invest in cryptocurrency if he/she:
👉👉is greedy: Some people want it to be bullish always. They never learn to take profit. They keep waiting for their token to do more than ×100 but in most cases this turn around and go against them making them to lose all profit and part of their investment because they end up selling in panic.
👉👉is impatient: They invested waiting to make money within days/months forgetting it may sometimes take years to make good profit. Most end up selling their token in little deep.
👉👉is too lazy to learn: You must be ready to learn to make it big in the space. Crypto investment involve research and this may be time consuming. It is through your research that you will know which token to buy and also when to buy and sell.
👉👉lack risk tolerance ability: Cryptocurrency is a high-risk and high-rewarding business but it isn't for the faint of heart.

Conclusion
Crypto business is meant only for patient people with strong heart who are not too greedy and are always ready to learn.