THE COMMON MISCONCEPTION OF A QUICK-RICH CRYPTO SPACE

"People are making easy money from airdrops; teach me how to do the same." There have been very frequent songs and requests from friends and sometimes strangers. And yet again, a friend asked my opinion on which crypto projects she could invest twenty dollars into that would yield her massive returns. The general belief is that people in the crypto space are swimming in money, and when we drop hints, updates, or highlights, it is presumed that we have made some significant profits, and they would want to win just like we do.

But no, the crypto space is not for the feeble or faint-hearted. I see the crypto space as a business where participants and users have a lot of research to do and need to stay alert and updated. In fact, the crypto space is a 'learn to earn' space where you have to patiently understand basic terminologies. A significant number of people are armed only with the basics of crypto knowledge, which is fair, as half bread is better than none.

IMAGE CREDIT

First, they believe the crypto space is a quick-rich space where some tiny investments would yield massive returns. And of course, they are motivated by the testimonies of our wins and scared when they hear of our failures and disappointments. They want only the wins and not the losses. True, nobody willingly walks into losses in the crypto space, but this is rather unavoidable, and sometimes it is necessary to exercise more caution while traversing the crypto space.

Luckily, most people who show interest have little capital to invest, and it is often easy to expose them to possible outcomes, leaving them to make informed choices rather than banking on the rumors of quick and easy money in the crypto space.

SCREENSHOT IMAGE TAKEN BY ME

A mentor of mine made 46 Solana within 62 minutes of trading, and he posted his success on his channel. This revelation sparked a lot of reactions, and even I wanted to jump at trading and probably make this overnight. But this is not the case; winning does not come easy. During his subsequent advice, he made us realize the importance of patience in the crypto space, along with identifying opportunities to enter and exit trading. I learned a lesson from his counsel, which is to wait for the opportune time to enter trades rather than trade based on emotions.
Unfortunately, many people are in a haste to make it big and early in the crypto space and are often overtaken by emotions, oftentimes leading to grave losses.

People with misconceptions often have hopes heightened, believing that all is rosy and will probably remain so. The worst scenario is when they achieve some quick wins and expect to have such wins sustained. I have had to explain the unpredictability and volatility of the crypto space, especially for the new entrants that came purposely for the airdrops (free monies). As much as I admire their enthusiasm and optimism, I make them realize the need to tread with caution and reduce their hopes while taking their time to learn before earning.

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