5 Things to Do to Make Money in Crypto In 2022.
What can you do to be successful? have you been asked this question in the past?
If yes, what was your answer? If not, then give it a thought. The secret of success is not hidden from people, but the discipline to do them is the problem.
If you want to succeed, you will need to study success. This is exactly what Jim Rohn said ‘ if you want to be wealthy, then study wealth.’
The crypto industry is here to stay. Many people have already made millions and billions from the industry. Do you think it is by luck? If it is by luck, why are you not lucky?
Every success is a result of cause and effect. In 2021, many will become rich by doing certain things in the crypto space. To make it big in 2022, you need to know what to do, and you need to start doing them.
So, in this article, I shall be explaining five things you must do to make money in crypto in 2022. So, if you don’t do these five things, you may not make money in crypto in 2022. Here are the five things.
5 Things to Do to Make Money in Crypto
I shall be explaining them one after the other. To me, the fifth one is the most important of all.
The first thing to do when you want to make money in crypto is to acquire knowledge. Knowledge is important because it will help you know the key concepts in crypto.
It will enable you to join the conversation and contribute. It will enable you to understand how disruptive and big is the blockchain and crypto industry.
If you don’t have the right knowledge, you won’t know what these terms means, Defi, Smart Contract, Contract address, TPS, TLV, Web 3.0, metaverse, private keys, DOR, Hold, bear market, Bull market etc.
To add to this, when you are equipped with the right knowledge, you will know the area in crypto to develop a money-making skill.
Knowledge will eventually lead to skill development, which will translate into money-making.
The next thing to do is very important, if not more important.
The opportunities to make money in crypto are enormous. The two ways I shall be talking about here are investing and trading.
Before that, I want to explain how crypto works. Crypto is like the stock of different companies listed on the stock exchanges. In the case of crypto, they are created or listed on the blockchain, and they are decentralized.
So, for you to trade or invest, you need capital. You can use this money to buy tokens, NFT and metaverse land.
So, if you want to make money from crypto, you need funds or starting capital.
But, capital without the next point may lead to know where.
Crypto Risk Mindset
Risk is like a coin that has two phases. Risk has opportunities, and it has a loss. This means when you are in crypto, you can make big money and have the same chance to lose big money.
However, if you don’t take the risk, you will never know how to make it big. Those that made big money took the risk, and the odd turned out in their favour.
Imagine one person buying BTC with millions of dollars. These people will make it big in the crypto game when the market goes in their favour.
However, the best part is not to take risks but to have the skill to manage risk. When you manage risk, you will reduce the chances of losing your money.
After all, is said and done, you need to manage your portfolio. The question is, how do you do that?
In crypto investing, there is what is called a portfolio. It means having a collection of crypto assets that you have been holding for a while.
Here is why this skill is very important. Firstly, you need to know the crypto projects to add to the portfolio.
Secondly, you need to manage the portfolio to maximize the market. Thirdly, you need to know when to take profit and close your position.
This is golden because making it big in crypto comes from this strategic skill. Well, the last point is the most important of all.
Crypto security is important because crypto is money, and this value is digital. So, there are many attempted attacks on wallets and exchanges. You need to know how to secure your crypto assets to avoid losing them to others.
I often explained the basics of security principles as not disclosing your private keys and passwords to your exchange accounts. Airdrop can also be a disadvantaged activity.
When you verify the origin of an airdrop before participating, you will do yourself well. Better still, don’t do an airdrop.
To make money in crypto in 2022, the above five points must be in place. However, if they are not in place, you will end up paying dearly for it because you may make some irrational decisions.
But, when you put them in place, you will make it big in crypto. People that make it in crypto do the same thing and more.
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