This Mindset Will Make You Successful in Crypto

The cryptocurrency market is one of the most vicious and volatile asset classes that you can invest in. There are dangers lurking all around you; waiting to take advantage of your greed, impatience, or carelessness. It only takes one second of not being fully focused or making an impulsive decision that can result in you losing everything. But it is even more difficult than that. Even if you put in lengthy research and heavily think out your decisions. There is still a substantial risk.
All of this is evident from last year’s summer of crypto insolvencies. People weren’t trading with leverage and weren’t even buying low-cap cryptocurrencies that no one has ever heard of. These people were buying the blue chips of crypto and planning to HODL for the long term. They were true believers in the future potential of this industry. They felt that by depositing their crypto onto these lending services that they felt were safe, they would be able to accumulate crypto even faster. Their end goal was to change their lives financially by using the asset class that they believed the most in.
However, all of those things are in the past. In the crypto market, we must remember the past, and learn from it, but always be looking toward the future. The truth is that everyone in the cryptocurrency market has the same goal. We are all trying to change our lives financially. But the problem is that many of us don’t even know where to get started on this journey. Today I will be sharing a few traits that will make you successful in this industry. For some people making these actions a part of their daily habit, they will make them successful in 1 year, for others, it might take 2, 3, or even 4 years. By repeating these not only will your chances for success increase in crypto but in most aspects of life as well. These tips might not work for everyone but have been successful for me.

Become Obsessed

The single trait that I believe to be the most responsible for me having success in the crypto market is that I became deeply obsessed with it. There’s rarely a moment during the day that I’m not thinking about it. Researching, watching videos and podcasts, reading books, learning about new developments/projects, and keeping up to date with all of the latest news and prices.
Obsession is a dangerous thing that can take over someone’s life for the worse, but if used correctly it can be your greatest tool as well. I have an undying feeling within that I always need to be working or doing something to become successful. While others are relaxing or sleeping, I am working on my next project. It is the sole reason that I was able to pull myself out of substantial debt.
While always thinking about crypto won’t guarantee you success. The odds are that if you have a real passion for it and learn as much about it as possible. This will put you on the right path toward success.

Make Your Plan & Stick to it

A problem that I see all the time in the cryptocurrency market is that people haven’t made a plan or strategy. They are hoping to get lucky or go with the flow. For some, their strategy might be to have a highly concentrated or diversified portfolio. For others, it may mean they only want to invest in the blue chips of crypto or the low-cap altcoins. Maybe they want to build a staking portfolio that can earn them passive income for years. Many of these people haven’t decided if they will be long-term investors, or sell when the price is up or down drastically.
Whatever your plan is, your odds of success will greatly grow if you stick to it. But on the other hand, constantly changing between different strategies will dramatically lower your odds of success.

Generate Alternative Income — Make Your Own Luck

Many of us enter the crypto market hoping to change our lives financially, but the truth is that it still requires a lot of money invested to make life-changing money. This is an amount of money that most of us don’t have disposable to invest.
And so this means we must become creative to find ways to generate our income. One of the easiest was mentioned above, crypto staking. The great thing about the internet is that there are countless opportunities to earn. One of my favorites is writing about cryptocurrency. However, if you’re not able to earn on the internet, beginning a side job for 1 or 2 nights a week would have a dramatic change in people’s lives.
Let’s imagine that a person named “Bob” wants to invest in crypto, but has no cash to invest. He decides to work 2 nights a week at a side job which nets him an extra $100 that he puts into crypto. That equals to about $400 per month and $4,800 per year. Then let’s imagine that his crypto went up by 10x during the bull run. All of a sudden that $4,800 is now worth nearly $48,000. That would be life-changing for most people. Now imagine if “Bob” would do this for 2 or 3 years. Imagine if the crypto market would go up by 20x.
The problem is that many people are hoping to just get lucky in life. The truth is that we must make our luck. We do this by outworking other people. If you want to change your life, you will have to do things that you weren’t doing before. You will have to put in the work.

Participate

Finally, the last trait that will make you successful in the cryptocurrency market is participating in it. Recently the biggest reason why people participate so heavily is that they are hoping to receive free airdrops. Some of which have been priced at several thousand dollars. Life-changing amounts.
Another reason why participating is so important is that it will allow you to build contacts and relationships in this industry. This could open the door to you potentially getting a job in crypto in the future. At the very least, it will make investing in crypto a much more fun place. Which will likely result in you being able to stay in this market long enough to become successful.
While these tips are simple, the truth is that they are very powerful and could be the difference between you becoming successful in crypto or not.