Are You Also Losing Chances in Crypto Because of Silly Reasons
Like using the money for urgencies or it’s just me?
I asked this question somehow rhetorical, and right from the title because I wonder if other people are losing opportunities just like me in crypto for simple, yet silly reasons such as needing the money for various emergencies.
Urgent Matters Cause Urgent Measures
Have you been in the situation of investing some money in cryptocurrencies and then having to take it out without being in profit, just because you had a family emergency, or you remained without a job, or anything else happened that left you with empty pockets?
I’ve been through this and it’s frustrating. I had to take out all my investment in crypto, but then I found a better job, and I gradually put the money back in.
I just had the hope that I can put back in all that I took out until the price of coins such as Shiba Inu doesn’t pump up again. This would mean losing the train one more time.
Hard Times Make Us Look for Opportunities
I know the eternal cliche that says you shouldn’t invest more than you afford to lose. I try to use it in all my crypto articles, in the disclaimer. We live in times that require us to do more than just have a regular job.
It seems that we are in a new recession, but this doesn’t mean that we cannot recover. Some prices have doubled or tripled and the salaries are quite low in many areas of activity in my country. It’s like we are almost forced to create additional income streams.
We live in times when things like investing in crypto can be seen as ways to fight inflation and we are almost obligated to search for additional ways of making money.
Losing Opportunities Because of a Lack Of Funds
To invest in crypto, you must know when to do it and sometimes you can lose opportunities if you don't have the money at that exact time. I have seen people losing opportunities in crypto for silly reasons, like trying a few times to put money on Binance without luck, because of some transaction errors.
When Elrond sky-rocketed
A friend of mine who didn't know much about crypto wanted to put like 50 dollars in Elrond when the coin’s value was about a few cents and then later, once Elrond reached hundreds of dollars he couldn’t believe how much return he would have on his investment. His 50 dollars would have become a thousand.
Isn’t this mind-blowing? Not really, if you know how much Shiba Inu has grown in just one year.
The pump of Shiba Inu — another silly situation
Those who invested a few hundred dollars in Shiba Inu in 2020 and held them are rich right now. I am thinking that another big wave is coming for Shiba, as the coin has great future potential, especially now when there are new amazing changes announced regarding this coin. I want to take advantage. I had to take my money out from Shiba In January, but now they are back in. I had an emergency, being jobless for a few months.
I know a hundred bucks (the sum invested by myself in Shiba Inu) is not much, but in some situations, this sum can become useful.
Some of us do lose opportunities in crypto many times not because we are not paying attention to what happens in the market, but because we are simply lacking the funds. Even when we do have funds, they are too important for us to be able to respect the rule of investing only what we afford to lose. This is discouraging, but it doesn’t mean we should give up.
Who knows what the next great opportunity will bring and in what financial situation it will find us. Sparing some money just for investments is for sure the key to succeeding. Whenever we are making more money at work, we could put aside even a small amount for future investments. We should never invest the money required for basic human needs, especially if this is the only money we have at that time.