How First Time Experiences With Crypto Shapes People's Financial Reasoning In The Long Term.

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I got my first experience of Crypto being on steem and honestly after four years, I still believe that I haven't really known enough about everything crypto. Everyday coins are popping out like crazy and people are left with a lot of decisions to make; "should they invest or not" most times, they are always caught in the dilemma of making that decision to "buy or not to buy", a lot of people are learning how to handle the regrets of making a bad call or not making the right call or buying in too early or buying in too late. This regrets is what a lot of people do not know how to handle despite being so experienced with dealing crypto.


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We must understand that money is the ultimate thing, and this sometimes makes us neglect our finacial constraints or discipline. A lot of people are attracted by the profit they forget they have to gather knowledge or tutoring before actually investing. Many others do not know the foundation or inception of a coin, Infact they do not check the structure, look at the calibre of people buying in or even check if there's a use case for the coin. They forget to look at the creators of these coins or see if there's a sort of white paper especially if it's a sort of project. Are the creators locking in the coins to reduce liquidity and bring in more value to the coin? Is there a sort of plan to maintain the use case for the coin?

Will there be a case of rug pull? Or would it be possible for Investors to lose their their money through rug pull schemes?. All these are viable questions that can help people make decisions. These questions are the real financial advise determinant. A lot of people aren't financially stable enough and during their first experience with crypto they start out with shit coins which not guarantee then them the financial education they need. One thing is, shit coins sells due to the hype and not because they're actually valuable persay. One of the reasons why shit coins pump a lot is because we have a lot of people who wants to take the gains and put it into their main coins but when a newbie try to follow this pattern they end up failing.

Crypto is not all bed and roses and even people who are vast in experience constantly needs to upgrade. When I started buying into crypto my first major purchase was hive and after that I bought into Bitcoin and Eth. I knew of many people who had put all their money into a few shit coins and make quite a sustainable amount of money but then that wasn't me. I was a newbie, I was low on cash, I had no gurantee should I lose to gambling with shitcoins and this was a lesson I learnt in my newbies days. Many newbies had and still have this ponzi mindset "throw in everything and make it big". They forget to think of the repercussions to their finances and hence forget what is obtainable.

One of the biggest mistake a person can make is starting out in crypto and having instant high hopes to become rich very quick. Some of these coins owners knows and exploits these tendencies. Inasmuch as I wasn't expectant on making too much profits by buying btc I know my Investments were going to be solid and in the long-term i'll eventually make the gains I want. Steady of course wins the race. Crypto is luck and planning and not essentially money in the first instance. When it comes to making the hardest of finacial decisions everyone becomes a newbies because despite the charts and patterns and permutations no one exactly knows the future.




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Without spelling it out, I'm sure that you have vast experience as far as Cryptoverse is concerned. In my case, I started looking into Crypto this year. I had to force myself to learn it in January because l was wrecked by an Exchanger last year.

Loll... I studied Banking and Finance. I ended my service 2 months ago yet, the few months I've spent with Crypto gives me more assurance and practical knowledge of investment than all the textbook l read.

Well, l want to learn more and possibly invest in solid Crypto projects. For now, I'm just trying to have something left over to invest despite my recurrent expenses.

Well Done Bro

I hope to also benefit from this Crypto world

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Haha I don't have vast experience, im still sure that im a knob when it comes to crypto but then we're trying and getting there. I try as much as possible to squeeze out some finacial experience from my crypto journey and this has totally been enabling thus far. As for school, it never teaches you how di survive in real-time really but then it has it's advantages. I guess being exposed to Crypto, you'll definitely learn.

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You know people dont think there is something called financial education..a lot of people do not know the benefits of delayed gratification too. That's why most people regret a lot of things in the crypto world. I am learning everyday and I am trying to make sure that I invest my time in building the right financial habits

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You're definitely right, building the right Financial habits is also part of the long game.

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It’s really a good thing to always try and do some researches in any type of investment either digital or physical.

Getting the right information and the right knowledge to that particular product or crypto is very essential and it’s what most people fail at, myself included.

What I do now is never to be sure of anything and am always a newbie in any type of investment. That way I am always curious to know more about any coin I wish to invest in.

Hive, Btc and Eth is a great idea.I think best ones for most people so far

I’ll add BNB to the list, as I see it has a future in the crypto-verse.

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BNB is sure really amazing,I did get a little today, hopefully we can see how it goes. Experience also plays a huge part as well and its necessary for one to be patient and do their research.

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oh that's nice!

i think experience is the best teacher when it comes to crypto.


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I think crypto is currently a high risk high return place. Doing your own research and ensuring you have financial education makes sure your chances of getting hit by a rug pull lower. If you are chasing the highest returns, you are also taking part in the highest risk area. It's similar to going to a casino, the house wins in the end so defining how you approach things with things in your favor is the best.

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Exactly, its essential to do one's research but then I Point out that a lot of newbie I know, Just Wants to get into the thick of things and make money rather than taking their time to develop themselves. Its rather unbelievable, but crypto has its dos and don'ts and it burns when people don't pay attention. Thank you for dropping by

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