Today we will talk about the fears that every newcomer faces when diving into the world of cryptocurrency. These fears even have names, with abbreviations. The first is called FUD – Fear, Uncertainty and Doubt, and the second is FOMO – Fear of Missing Out. These fears live side by side and often create stressful situations for those who are not yet confident in themselves.
Who wouldn’t want to go back to 2014 and stock up on bitcoin to become fabulously rich? Unfortunately (actually, fortunately), this is impossible, and the thought itself, firmly planted in the head of a novice crypto-investor, leads to a subconscious fear of not following the market trends, missing some news, not buying or selling on time, and so on. And just like some people monitor the social networks of their friends and idols, FUD and FOMO people are constantly refreshing their news feed, trying to find every news that can affect the crypto market. And the point here is not even in the extra fuss and waste of time (which, of course, is not good for health), but in rash decisions made in a hurry and panic. What to do if you experience FUD and FOMO? Here are some simple tips:
No rush. The market never stands still, it has its own fluctuations. Something goes up, something goes down in price, and sometimes these are such small changes that you shouldn’t pay attention to them. Remember that profit comes in the long run, and selling and buying assets at any whiff of the breeze is a sure way to lose money.
Learn the basics and get distracted less. Instead of following the price of a token all day, try to read about the history of its creation, features, pros and cons over others. Read serious business analytics. Everyone who sees the whole picture is in a winning position.
Communicate in a circle of interests. Share knowledge, suggestions, ask questions. The modern crypto community is large and international, and someone will definitely share advice or join in an interesting conversation. By the way, there are a lot of wonderful people in our chat, feel free to join!
