Who else slightly misses the old Bitcoin days when nobody knew anything, the projects like Ethereum were just being development and the conferences were small? I for one do, but it is great to see the industry growing so much. During this time though, it can feel like there is just nothing to do. Just sit on our investments and wait. Although, here is a list of a few things on what you should be doing in crypto to not only help the industry, but your portfolio as well.
Nothing should be considered investment or financial advice. Enjoy the ride.
Bored in the House
Yes, I know we are all bored in the house right now, but there has to be a way to productively spend this time. If you are anything like me, you probably already have a sufficient amount of crypto, and now you are patiently waiting to see if your investment pays off in the near future.
While we wait for this future to arrive, there are several things we should be during to help it along the way. In particular, we should be actively trying to educate ourselves further on our investments, other investments, and how to better the decentralized economy. Since we have all this free time, what else are we going to do? Therefore, lets dive into the first thing we should be doing while we wait on the moon and lambo memes to fall in our favor again, educate ourselves.
Educate Yo Self
With all this time, we really should not be wasting it.
Like it or not the investment you made a year or two ago, might not even be toward the same project you once thought it was. Think about it a little – these currencies and ecosystems are constantly changing, evolving, and being shifting around. When is the last time you did a deep dive into your favorite project with an unbiased opinion? I know it had been a while for myself in that regard.
Not too long ago, I did this myself. Two out of the 7 projects I was in were just not cutting it. I loved the projects, the idea, and the potential, but as I saw them progress compared to other projects on the market, I realized they were just not good enough. That’s right, I had to sell decent projects that I liked, in order to help support other projects that had even more potential and even better teams working on them.
In another example, I sold out of a project mainly because of its business philosophy that had changed. It was a project I held for years. Although, from its new business philosophy, it was basically stealing from its community constantly. I did not like that very much. You see, it is vitally important for us HODLers to constantly be reviewing our own decisions and what projects we cling to. We can not let our emotional connections to these projects out weigh our fundamental duty of supporting the best decentralized project on the market. Oh, and also our duty to have the best portfolio possible.
With that, continue to educate yourself in this market. Not only on the top assets, but on new ones and even revisit old ones you once dismissed. There is a never ending list of digital assets to research now, so I encourage you to research at least one asset a day! You will be impressed with either how much you start to respect the projects in your portfolio, or slowly start to question them.
When I started my research journey, it was really hard to compare digital assets, because I did not have much to base the off of. Now that I have personally seen and researched hundreds, it seems like I have most of them figured out or at least can group them into categories.
For you to be a successful investor, you have to work on your base knowledge. You need to know the macro differences in projects around the market, and be able to group them properly for reasonable comparisons. For instance, you should never be comparing Ethereum to Bitcoin. They are two very very different projects with two very different goals. In actuality, Bitcoin and Ethereum compliment each other and are not direct competitors at all.
This is why developing your base fundamental knowledge of these projects is essential. From this, you can already ignore 90% of the articles talking about Bitcoin and Ethereum. This fundamental knowledge lets your ignore the noise and focus on the real important news and information.
Ignore The Noise
If you are wondering how you can start to help the decentralized economy, then you already have started! That is if you are doing what I just discussed – researching digital assets!
By deepening your understanding and developing that base knowledge, you have just made yourself an educated investor. On top of that, you can now properly educate others and push the proper agenda of crypto. That is to make a better, decentralized ecosystem where everyone has a fair chance to succeed. By ignoring the noise of fake news, manipulation, and the buzzing words of Craig Wright, you can start to help build the digital economy.
This space needs more people like you. It needs people who understand the fundamentals, people who do not cave at every dip just because some FUD was spread, and people who can invest with confidence in projects they have researched and vetted themselves. Not just retail investors who FOMO in because of an article they read. The crypto space needs real educated investors, and by becoming one, you have already started to help this space tremendously.
Not only that but when people come and ask you about crypto, you can meet them on their level. The hardest thing to do is usually not to learn something but to teach it. Once you have truly mastered a subject or a skill, sharing it with others in steps is a wonder to behold. If you can not only learn about crypto, but guide other people on their journey when they come to you, then you have done more than 99.9% of the other people chattering on the market over spilled milk or a recent Bitcoin price dip.
What You Should Be Doing in Crypto
Thanks for reading my blog post! This was covering what you should be doing in crypto while we are bored in the house. If you agree, make sure to share, if not then leave a comment why! As always, happy hodling crypto pioneers.