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Wednesday, 25 September 2019

The Ultimate Guide To Investing In Cryptocurrency

Investing in Cryptocurrency
Before we begin talking about why you need to invest in cryptocurrency, you will first and foremost need to adopt the right mindset in place.

What does having the right mindset mean?

Having the right mindset means being open minded, thinking positive and not whining or complaining after making a decision and being accountable for the choices you have made.

Complaining and whining won’t get you anywhere. The market doesn’t care about your complaints, because the market will always be the market. Over the last couple of months, cryptocurrency have become a global phenomenon to many and has taken the world by surprise.While not everyone understands the cryptocurrency realm and how exactly
the system operates, banks, governments and companies are well aware of its importance as the cryptocurrency market cap is very volatile where the value of a crypto coin may reach thousands of dollars.

Therefore, it would be such a waste if you choose to ignore what is currently
happening in the market when there are countless opportunities for you to pursue.
To have the right mindset to begin with, firstly you have to be excited to start! If you know how vibrant the world of cryptocurrency is, you would want to start right away.

How can you start investing in something you have completely no interest in?

When you venture into an investment without the feeling of excitement or eagerness, it will reflect on the money you’ve earned. You will only feel a lack of fulfillment and worse still, it is as if you are being forced to do something
you do not like.

There are two important principles in order for you to have an investor’s
mindset:
(I) Focus on opportunities, not problems
(II) Take action and stick to it, don’t succumb to fear

Let’s focus on the first principle, which are opportunities vs. problems.
Many investors can come up with a 100 problems but can’t even think of single opportunity. For instance, “It’s impossible to understand the whole cryptocurrency system” and “the cyrptocurrency values are very volatile and I might lose all my money,” or simply “I don’t have time to invest“.

We know where this is heading. It is true that sometimes there are so many obstacles that it becomes difficult for us to identify opportunities. However, donot let your challenges discourage you from exploring the rich market of cryptocurrency.
If you knew of the countless opportunities available, you would never complain and be pessimistic of the drawbacks as you would probably overcome them.

The second principle is to take action!

A great mindset would be meaningless without action. Fear will not get you far, and fear will always be your limiting factor in taking that leap of faith. You have to start now. So remember to be firm in your choices, believe in what you pursue and make a difference in your life

What does Investment Mean

The word investment simply means the action of investing money for future gains. Your future gains can be in the form of assets or stocks and also cryptocurrency, which you purchase with the intention to generate passiveincome. Your assets value may appreciate in the future. Once you’ve made a conscious choice to invest, you are no longer working for money. You are actually making money work for you.

For those who choose to not invest or do not possess the awareness to do so, their monthly cycle would probably go like this. You are a full-time employee working the hours to complete the task given to you by your superiors. Sometimes, you would also need to work extra hours to compensate for the extra workload. By the end of the month, you are then given a substantial amount of pay as a
form of reward. Nothing wrong with that, but do you really want to live a mediocre life and just making ‘enough’ to live by for the rest of your life?

That is why you would need to devise a new plan to lead the life that you desire, to create not only financial stability but also sustainability. Instead of creating duplicates of yourself, which you can’t, you will need to find a way so that your money can work for you.Even if you still choose to keep your 9-5 job, your money from your
investment is working for you as well. You will be rewarded by having extra money in your account. This is one of the greatest way to maximize your potential to earn more and you don’t even need to receive any raise working overtime or even hop from one job to another for it. In the end investment is the key factor in putting your money to work, without you having to compromise your hours!

Why Should You Invest?

Have clarity on why you are investing.You don’t just decide why you want to invest. Well, obviously you want more money. Everyone does.But what defines your investment? Why do you even invest? You have to be clear of this, so you now where you are heading, and devise a strategic plan to get there.

Some people would want invest to save for their retirement. Those days when everyone worked similar jobs for a span of 40 years and retired to a nice pension are gone. These days, it's more than that. With the cost of living
increasing day by day, it’s vital for you to realize that being solely dependent on your pension would realistically not be sufficient to sustain your future.

You should be investing to save more money for your retirement. You can start now by optimizing your retirement savings into a series of investments. Then, you would surely see the results during your retirement age, by living off the funds you gain from these investments.

Many of us invest because we want to attain a certain financial goal. In that goal, investment plays a huge role to help you earn it. Either you want to start your own business, have your preferred lifestyle, buy a luxurious car, own a bungalow even - it all starts with your action to invest. Hence, it is imperative to know why you really want to invest.

Remember; don’t invest solely because of money, it is important to have passion in doing it. So, make sure you get your intentions right and have fun in doing it! Investment would not seem as a chore, or that daunting when you know how to have fun.