Over the years I have learned that investing in crypto is a game; you either win or lose. Unfortunately, it’s a game where you cannot draw. With so many crypto projects in the market, there is a lot of competition and choosing the project to invest in can make you a winner or a loser.
Fence sitters like me have watched Bitcoin (BTC) grow from under $5 to almost $20,000 before heading south to the $10,000 threshold at the moment. Risk takers bought Bitcoin when it was low priced and are now smiling all the way to the bank. You see, a friend of mine offered me 6 BTC eleven years ago for $100 and guess what; I declined.
Investing in Crypto Moment
The above is a clear indication of a once a lifetime missed chance. When BTC hit the market, it was shrouded in mystery and few knew how the ‘coin’ works. At first, I was convinced it was a scam and am sure I was not alone. This explains why adoption was slow before the altcoin flood gates opened.
The timing for me was wrong despite the investing in crypto hype. However, with time I started to appreciate the power of the digital economy. Altcoins for me were the eye opener. The search for crypto use cases drove me to altcoins but this also came with unique challenges.
Choosing the right altcoin to invest was and still is a huge challenge; with many promising projects to choose from, it became hard to choose the right ones. This saw the growth of Initial Coin Offerings (ICOs) with many turning into scams.
Better investing in Crypto Environment
Over the years, things have changed with regulators coming in to put confidence in investing in crypto. This has seen scams take a back seat with fence sitters like me starting to build their crypto portfolio using affordable coins. The SEC has given the market some direction with some governments taking charge of which projects operate within their boundaries.
It been a long journey and Decentralized Dinance (DeFi) has given me a new lease of life. I have already grown a thin skin and no longer going to sit on the fence. I have come to realize part of investing in crypto is a game and once you look at the risks involved, you will never make the first step.
