The Impact of Gambling Mindset on Cryptocurrency Ecosystem and the Importance of Informed Investing.

Debunking the Misconception of Cryptocurrency as Gambling: A Strategic Approach to Investment.

The evolution of technology has resulted in a financial breakthrough in this era, this is due to the emergence of #cryptocurrency. However, the structure seems to be ruined by gamblers who don't understand the structure of the ecosystem. This deterioration has made people view the cryptoverse as "SCAM." In cryptocurrency, the structure is 100% free from gambling, but the mindset of some investors makes it gambling.

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How does a gambler think?

Most of the people we call crypto investors are actually gamblers because of their mindset in trading or investing in a crypto project. Their mindset creates a wrong system in the right ecosystem which indirectly means doing the wrong thing in the right place.

A gambler does not care to understand the prospect of a project before investing, all that matters to them is earning profit and not knowing what problem the project is solving. Having such a notion in mind will result in bringing in people of his kind thereby destabilizing the system. Sometimes, when a project does not yield as they expect, they end up circulating a rumor that cryptocurrency is a SCAM making people lack trust in the ecosystem due to their greed.

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All that concerns a gambler is taking advantage of the project with a selfish intention; unfortunately, building and engaging the project happens not to be his concern.

Moreso, any business strategized by chance is gambling, even though it comes with rewarding profits. Therefore, the notion that cryptocurrency is gambling is wrong - any business can be gambling as long as you trade it by chance without prospective research.

How does an investor think?

As a good crypto investor, we study the market trends, analyze the project we want to invest in, the fundamentals behind the project, what problem are they solving, where will the project be seen in the next 10 years or more, what contribution can I offer to build the project. Even when the profits may not come immediately but they exercise patience using the market trends and analysis of the project.

Such investment ends up solidifying the ecosystem, because there's value in exchange for value.

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In conclusion, the rise of #cryptocurrency has brought about financial opportunities, but the ecosystem has been negatively impacted by individuals with a gambling mindset. Their focus on short-term gains without understanding the projects they invest in has led to instability and mistrust. On the other hand, informed and patient investors who contribute to the long-term value of projects are essential for building a solid and trustworthy crypto ecosystem.

We are hoping in the future that the misconception - "cryptocurrency is seen as a gambling scheme" where traders earn their rewards by chance will be altered because such irony is birth from the mindset of one approaching the cryptoverse.

This article is written in InLeo

Inleo is a blockchain-based Web3 community that builds innovative applications on the Hive, BSC, ETH, and Polygon blockchains. Our flagship application: Inleo allows users and creators to engage and share content on the blockchain while earning cryptocurrency rewards.

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