We all come to the crypto market with hopes of achieving glory and riches. Hoping to change our lives financially forever. But most of all, finally being free. The harsh reality is that this dream will never become a reality for most of us. The reason is much simpler than you might think, but yet something that most people cannot do.
Those of us in the crypto market have all heard the prophecies that this market will cause one of the largest transfers of wealth the world has seen. This is the reason why many of us have become so passionate about this industry. For most of our lives, we have struggled to make ends meet, or even get ahead. Living paycheck to paycheck, while watching our amount of debt increase is something that far too many of us have gotten comfortable with. So much so that making drastic changes to improve your life seems crazy to most people.
Working a second job, studying after work to improve your skills and career prospects, starting a side hustle, and investing religiously are something most people aren’t willing to do. They would rather relax after work, meet friends, use their smartphones, and watch TV.
While those are all things that contribute to changing your life financially. That isn’t why most people won’t make it in crypto.
The truth is that most people don’t have the patience, stamina, or self-control to survive this market. The most successful people in the crypto market think in timeframes of several years and decades. In contrast, most regular people aren’t even thinking about the future.
There is a statistic that in the US, at least 50% of people don’t have even a few hundred dollars saved up to cover emergency expenses. These people aren’t thinking about ten years from now. Their main focus is doing whatever they can to make ends meet and survive another month.
This situation by itself is difficult, but it is the root cause of why most people won’t “make it” in crypto. In this market, there are countless ways to make money. By buying blue chips and holding them while they appreciate, receiving airdrops, staking, and the list goes on. The key point is that all of these methods benefit from having the patience, stamina, and self-control to stay in the market.
People in this hard situation that were lucky enough to receive the Uniswap, Optimism, or Arbitrum airdrop were ecstatic to receive a free couple of thousand dollars. They immediately sell it off for cash to pay for expenses. However, if they just had the patience and self-control to hold, they could see their airdrops value increase 20x or more. That is exactly what happened with the Uniswap airdrop. All of a sudden that $1,200 airdrop was worth more than $20,000. Transforming into life-changing amounts of money.
It’s a story as old as time. People buy and hold Bitcoin and Ethereum. Buying or selling when they go up or down 15% or more. Not realizing that 5 years from now these assets will likely have appreciated by at least 10x.
In order to make it in the cryptocurrency market, you need to have the patience and self-control to not sell the “prime” assets after they have only appreciated slightly, instead of waiting for real wealth. Most people don’t realize that they are trading in their winning lottery ticket for mere peanuts.
How about you? Have you ever sold crypto too early, only to regret it later?
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