3 behavioural changes you need to make to boost your profits with cryptocurrencies

First of all, I'm not any random blogger or youtuber pretending to be a specialist in the subject so that I can sell courses and coaching sessions.

I've been investing in the financial market for over 10 years and I've worked with private banking and asset management for foreign investors in the largest financial institution of Latin America.

Please, don't get me wrong, I'm not saying this to brag about myself. I just wanna tell you a little bit of my background so that you can have a brief idea of who is giving the advices listed here and in the next articles.

Most of these youtubers and bloggers are just full of sh*t.

Honestly, I'm just sick of seeing tons of people on the internet with no knowledge or experience giving "great" investment advices and pretending to be these "experts" while their sole purpose is to attract new investors and profit from them. It happens in the stock market, forex, internet marketing and also in the cryptocurrency space.

My goal here is to filter all the BS, hype and FUD spread on the internet and provide high quality information for everyone who's interested in investing in cryptocurrencies. That's what new investors really need to make better investment decisions and avoid being scammed or investing in suspicious projects with no future.

I'm not here to give investment advices!

All I wanna do is to educate people based on my knowledge and experience in the financial market and share what I'm doing with my investments. It's up to YOU to decide what you are gonna do with your money.

I've seen so many people complaining and accusing others of being scammers just because they followed their recommendation and the price of a certain cryptocurrency dropped during the week.

Unfortunately, people who always find excuses and blame others for their failures will never succeed in life. That's not the mindset that leads you to success. No matter what, YOU are responsible for the decisions you make and the results you get.

So, be critical and NEVER trust anybody (including me) at first glance. Always do your own research and make your own conclusions before investing in anything!

With that being said, I hope to help everyone who is looking for genuine and quality information about cryptocurrencies and always remember:

This is not about making a quick buck in the short-term, this is about creating a solid asset that will give you the financial freedom in the long-term.

The sad truth is that most people will fail along the road because they don't have the right mindset to play this game and end up making some basic mistakes:

#1 Do NOT think like a gambler. Think like an investor.

Yes, cryptocurrencies are assets that can go parabolic and multiply your initial capital by many times. It's just like investing in Google or Apple in the early days. BUT, that doesn't mean that you are gonna be rich overnight or by next month. Projects need time to mature and generate consistent cashflow (which impacts its price).

The most common complaint I see on the internet is: "the price is not going up, what a sh*tty coin", although if you look at the chart, it has already gone up by hundreds of percent since the beginning of the year.

That's how most people think and behave in the cryptocurrency space. They think that you just need to throw some money and everything will go up by 100x in a couple of days and make you an instant millionaire. This is clearly the mindset of a gambler.

A true investor knows that time is his best ally and have patience to hold his positions even in bad days. That's how huge investors like Warren Buffett made their fortune. Early investors of cryptocurrencies did the same (even though they lost 90% of their capital for a certain period) and now they are millionaires.

Those who were impatient and didn't see the big picture, ended up getting out of the game and lost a huge opportunity.

#2 NEVER invest in something you don't understand.

Would you marry someone you have never spoke to nor met in person? Of course not because you can't make such an important decision blindfolded. You need to hang out with the person, get to know each other, evaluate if both are a good fit and so on. That's how you are more likely to make a good decision.

When it comes to cryptocurrencies, a lot of people are investing without doing any proper analysis. They just throw money in what is going up or being hyped and that's it. Let's go to the moon!

Really? Do you think that's a good strategy to build a long-term portfolio and achieve your financial freedom? Do you think the most successful investors act like that? Absolutely not!

They know EXACTLY where they are putting their money into and what kind of opportunities and risks they are facing. Basically, they do a complete fundamental analysis of the project BEFORE risking their money.

When I see sh*tcoins like Dogecoin being valued in the hundreds of millions of dollars, it's clear that there are just too many people who have no idea what they are doing with their money.

Again, this is not about making a quick buck based on speculation, this is about investing in solid projects that can become huge in the future. The only way to select these assets is by doing a complete research based on some criteria:

1- Who is the team behind the project?
2- Are there any big investors supporting the project?
3- Why is their solution better than what we have today?
4- Do they have a roadmap? Is it reasonable?
5- What kind of challenges they are facing right now?
6- What have they accomplished so far?

And so on.

These are the type of questions you have to think about in order to understand the business and select the best ones for your portfolio. Otherwise, you are not investing, you are just gambling.

#3 STICK to the fundamentals and NEVER get emotional by the daily price fluctuations.

This is the hardest part of being an investor: NOT allowing your emotions dictate your actions. Yes, it sucks to see the price declining for a week, a month or several months, but if you focus on the long-term, it's not a big deal.

Nobody can time the market every single time. In fact, the statistics show that most of the traders who constantly trade end up making less profits than those who just hold the asset for the same period of time. The book "The Intelligent Investor" written by Benjamin Graham (Warren Buffet's mentor) show some interesting numbers about this.

Even huge companies like Google or Amazon had some serious declines before reaching the prices of today. So, if the fundamentals of your assets have not changed, don't worry if everything is going down.

Value and price are different things.

Newbies and average investors focus on the price. Successful investors focus on the value.

If you keep these 3 tips in your mind during this journey, I can assure you that you will have a much better performance than the average person who is trying to make some profits on the next "pump and dump" scheme.

There will be many ups and downs, but we are all very fortunate to get into this world sooner than most people.

A visionary can see the invisible before it becomes reality.

Hope you enjoyed reading this article and please leave your respectful comment if you agree or disagree with anything I've said!

See you!

Byong