Much has been talked about the role IQ plays in crypto investing. Doing our due diligence, learn to think critically and not blindly believe what others say, reading the mood of a chat room and deciding whether the developers are legitimately invested. All these and more are ways that we keep ourselves and our money safe from the hands of people who don’t have our best interests at heart.

However, often we fall prey to hacks and scams because we let our emotions get the better of us. We are vigilant 9 times out of 10, but just for that single occasion, we neglect to do a test transaction and lose our money due to incompatibility of blockchains. Or we may be preoccupied with other things on our minds and click on the bogus link, unwittingly allowing intruders to sweep our MetaMask wallet clean subsequently. That’s why we put certain structures and boundaries in place so that we don’t let our emotions get the better of us. Here are some common ways to be a high EQ crypto investor as advocated by the sub:

1. Automate your DCA right after payday because you would rather not time the market to optimise any returns for something you are doing for the long term.

2. In fact, you only put a certain percentage of your money into crypto because you wanna make sure you can go about life, confident that you are not overly invested in anything.

3. Refrain from leverage because you know your temperament doesn’t suit you to be a trader.

4. Have a plan in which you clearly spell out how you DCA in and DCA out. You know what your exit strategy is, so you are unlikely to be swayed by FOMO tsunamis caused by changing market sentiments. You also keep your emotions steady when the value of your portfolio oscillates up and down like a pendulum.

5. Hold your emotions, keep them in check and remind yourself how the best thing to do at times is to do nothing. Since you know you want to have skin in the game for the long term, you adhere to “Time in the market beats timing the market”.

6. Keep a journal of your crypto failures and mistakes so that you know what pushes your buttons to act impulsively and avoid making similar lapses in judgement in the future.

7. Recognise that when you are staring at the charts too often, you probably need to find substitutes to distract yourself. Re-evaluate the amount you are putting into crypto. Be honest with yourself - is it beyond your comfort zone? Recalibrate until you find yourself more relaxed with the proportion of your savings allocated to crypto. Replace staring at the charts with hobbies and/or interactions with friends and family.

Any other ways you recommend to be a high EQ crypto investor?