I got into crypto for the potential profits on offer. I’m not talking necessarily life changing money, but more consistently market beating returns. And I’ve not been in long enough or accrued enough of a stack to have made any profit of any real note.Although I came for the profits, I’ve definitely stayed for the tech. In particular, DeFi use cases and potential future adoption are something I’m both very interested in, and bullish on.One thing that’s mentioned a lot on here is DCAing to just sit back and slowly accumulate, missing out on the ups and downs on the market. And that’s a great option. It’s definitely low stress.I’ve found it most helpful to view my crypto holdings in terms of accumulation. Building my stacks. Rather than in profit. Obviously, as someone interested in making money, I’d love for those stacks to be worth many times what they are today. With enough time and patience, they hopefully will be.Instead of focusing on how much your portfolio is worth, thinking in terms of how much you’ve accumulated can really help when we see dips / corrections / the bear market. Rather than your portfolio being worth X yesterday, and now Y percent less today; these are good opportunities to add to your stacks.The more hopeless it may seem, the lower the market and your coins sink, the better the buying opportunity in most cases (read: not with shitcoins and scam coins).Key to all this is putting in what you can afford to lose, and what you don’t need access to anytime soon. However much of a “sure thing” you think something is, stick to this mantra. I also like trying to make the most of my stacks with the money I’m putting in - by focusing on buying on dips that take my cost-per-coin lower than it previously is. I enjoy the element of competing against myself to get more of a coin for the same amount. It definitely helps me with focusing on accumulation, and taking the little victories along the way.
Submitted April 24, 2021 at 11:05PM
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