Sirwin
Sirwin
Guide to Time Management for Crypto Investors

Guide to Time Management for Crypto Investors

By SimpleSwap | SimpleSwap Blog | 30 Mar 2024


Working with cryptocurrencies, as ironically noted on one of the forums, first requires the investor to give up their apartment, then their soul, and then all their free time. Jokes aside, there is some truth to this.

Crypto trading, exchange analysis, building investment strategies, supporting crypto startups, tracking airdrops – these are just a few tasks on the crypto investor's list. How to manage it all? Turn to the technology that has been saving entrepreneurs from burnout and seclusion for years – time management.

Time Management - Investment #1

Time management is the technology of organizing time and increasing its efficiency. Simply put, it's all about organizing your time effectively to get the most out of it. No strict rules or one-size-fits-all approaches here – it's all about finding what works best for you. 

Like any other useful habit, time management requires practice. To learn how to save time, you first need to spend it – paradoxical as it may sound. It's worth noting that this investment will pay off early on if approached correctly.

Effective Time Management: Instruction for Crypto Investors

Picture this: you're juggling crypto trading, market analysis, investment strategies, supporting new projects, and keeping up with airdrops. Phew! It's a lot, right? That's where time management swoops in to save the day.

Tip 1: Leveling up Productivity

Here’s a list of things that might help you increase your productivity:

  • Remember that memory is imperfect. Record your tasks more often and unload your brain.
  • Make a list of priorities. This will help you not get lost in the endless stream of tasks.
  • Make a plan for next week. At the end of the week, it is recommended to slow down a bit, calmly sum up the results, and based on that, make a plan for the next week. A very important point for working in the unstable crypto world.
  • Keep an "idea notebook" with you. The physical or digital format of the notes does not matter - the main thing is to record all ideas and not rely on memory. Some people find it helpful to record on a voice recorder or in voice messages sent to themselves. This is helpful in developing your own investment strategy.
  • Learn to say "no" to other people. Stop tormenting yourself with guilt over not taking on a burdensome task, making a choice in favor of your goals. And remember, the highly volatile crypto market will not wait for anyone.
  • Evaluate your bad habits in terms of time spent. Can you adjust your behavior accordingly?
  • Try not to make impulsive decisions. Often, the time saved on consideration is then spent correcting mistakes.

Tip 2: GTD (Getting Things Done) System

The GTD (Getting Things Done) system is a methodology for increasing personal effectiveness developed by David Allen in 2001. It includes 5 steps:

  1. Collection. Gather all your tasks in one place. This is the stage of making lists.
  2. Organization. Organize your time based on the list of tasks, priorities, and context. By context, we mean the place and environment where you can perform the task: in the office, on a walk, at a meeting, at home, etc.
  3. Clarification. Separate completed tasks from uncompleted ones, prioritize tasks of primary importance from secondary ones.
  4. Action. Perform tasks based on priorities and context (see point 2). An interesting recommendation: if completing a task will take less than 2 minutes, do it immediately.
  5. Review. Periodically return to the initial to-do list and adjust it, based on the work already done. This marks progress and refines priorities.

Tip 3: Eisenhower Matrix System

The Eisenhower Matrix is a system that involves dividing all existing tasks into 4 categories:

ab9411013080e5d783c15d57684817725c6009ecaba3b70ff89205167377ca10.png

Based on this division, it is easier to set priorities and get used to gradually completing tasks without unnecessary anxiety and chaos.

Tip 4: Time Management Applications

When working with cryptocurrencies, it is important that the necessary information is always in front of you or appears at hand at the first request. Time spent searching for data can cost a deal.

Special applications can help you not drown in the flow of information:

  1. Notion. An "online notebook" application format. Users note the simplicity and convenience of using the application. Notion is great for teamwork. There are no obvious drawbacks; the application may not be suitable solely based on personal preferences.
  2. Todoist. A good application for daily task management. Suitable for those who plan to apply the GTD system in life. Cons include not being suitable for long-term planning.
  3. Obsidian. This is a huge hard drive for storing all kinds of ideas - small, large, important, secondary, crazy, real, too bold, and those in doubt. Obsidian can independently, in a chain, trace the logic of the ideas entered into it and ultimately provide the owner with one comprehensive idea consisting of the already loaded excerpts. This is a complex application that is not suitable as a digital daily planner but will be an excellent "second brain."

Conclusion

In conclusion, we confidently say one thing - it is impossible to work in cryptocurrency for long without time management skills. It is worth spending time and learning it at the initial stages to effectively manage your finances, plans, and ideas in the future.

If you want to learn more interesting facts about crypto then check out our blog! You might like our articles “Liquid Restaking Protocols: the New DeFi Primitive” and “Authorization vs. Success Rates”.

The easiest way to buy, sell or exchange coins is to use SimpleSwap services.
SimpleSwap reminds you that this article is provided for informational purposes only and does not provide investment advice. All purchases and cryptocurrency investments are your own responsibility.

How do you rate this article?

205


SimpleSwap
SimpleSwap Verified Member

SimpleSwap is an instant easy-to-use crypto exchange free from sign-up with over 1500 cryptocurrencies to swap, buy and sell.


SimpleSwap Blog
SimpleSwap Blog

SimpleSwap is more than just an instant cryptocurrency exchange, our team works on crypto adoption making the Crypto World simple and easy-to-understand for everyone. You are welcome to enjoy our articles here!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.