Earn crypto, don't buy it!
The number one lesson I have learned is that it is better to earn crypto than to buy it. Buying crypto is the least sustainable and most stressful way to hold it. Prior to Steemit, it was much much harder to earn crypto than it is today. Today anyone who really focuses on earning crypto can figure out ways of earning it. So from this lesson I suggest to anyone to focus on earning rather than buying crypto.
You are almost guaranteed to lose a private key, prepare yourself!
The number two lesson I learned is there will be losses. Even if you trade perfectly and invest in all the right coins you will eventually make a mistake. Either you will get hacked, or you will lose a private key which later on turns out to have been worth hundreds of thousands of dollars if not millions. This is not avoidable and it happens to most people in crypto. One of my first experiences in crypto was getting scammed, and losing around $500 trying to buy Bitcoin. I lucked out and got my money back somehow by complaining to a middle man in the chain but I did not get my coins.
Have patience, time is on your side if you got in early
The final lesson is patience. People who do not have patience will not do well. It takes time for your favorite tokens to go up or become truly useful. It can take a few years before it is really developed. On the topic of losses, I lost access to a private key just recently worth over $1000 due to unknown unexplainable technical error. The difference is now that I earn crypto pretty much 24/7, I know eventually I can get it back over time.
Buy, earn, mine, trade labor for fiat and buy more crypto. Just buy and hold and stay plugged in, things change very fast in the Age of Crypto.
in the course of a business we must be excited do not be afraid our business bankrupt ,,, maybe from our failures can learn how to change our business next ,,, failure is common with there is a failure we can learn to succeed ,,, time has passed the professor in life
Lose private key - check
I did within the first month of being on steemit. I tried and tried to recover but no luck. So I had to start another account.
Earn crypto don’t buy it. I have only invested around $400 fiat into crypto but my portfolio is over $4,000. Maybe it is just luck but I’ve only been in crypto since August. I feel I doin pretty good so far😉 on the other hand there are a couple people I know throwing tons of fiat into crypto. Making very small gains. I guess if you have it to invest go ahead.so to each his own.
Thanks for the advise
STEEM ON!!
Wow a 1000$.... gone just like that....
never mind you are an amazing steemian I believe you can make tons of $$$..
Good luck@dana-edwards
Very insightful thanks for sharing to us newbs
Great post, thanks for sharing your experience and knowledge.
Would you mind expanding on ways to earn crypto? I have no interest in mining and I can't compete on the contract gigs that pay in bitcoin (very hard to justify the amount of time relative to the pay).
2 years in crypto and mining business and i second this opinion.. never throw fiat into buying cryptos. You will make rash decisions and you will lose your money. I have always said that the coins you get from mining are really hard earned and you end up taking care of them as your own kids. So always prefer mining or earning (in case of steem).
Second thing is that all of your investments must head towards a single target i.e to get your hands at bitcoins while they are still trading at under 10k -15k. Once they soar above this price range, you cannot get them either through mining or purchasing. Then it will be a game of big whales. So keep some bitcoins in your wallet and don't touch them..
Very good post. I am gonna resteem it..
Amazing lessons buddy. Loved reading your post. There is soo much of learning from this post.
Regards Nainaz
#thealliance
Well, thx for the lessons. I am like 4 month into cryptos and about 10 days on steemit and till today fortunatley nothing happend to me. Puh! But when I am doin my researches on any kind of topics, I always find some people who made such mistakes and lost their money. I think it's a generetion problem. Many people forgot how to focus and to stay focused on a topic. We (they) need to learn it again - And the best but not the easiest learning is through pain and lose.
Another question: besides earning cryptos on steemit, where do you have a possibility to earn cryptos? Unfortunately my customers are not into cryptos (and wont get there) ;)
Greetz from germany