How First Time Experiences With Crypto Shapes People's Financial Reasoning In The Long Term.

I got my first experience of Crypto being on steem and honestly after four years, I still believe that I haven't really known enough about everything crypto. Everyday coins are popping out like crazy and people are left with a lot of decisions to make; "should they invest or not" most times, they are always caught in the dilemma of making that decision to "buy or not to buy", a lot of people are learning how to handle the regrets of making a bad call or not making the right call or buying in too early or buying in too late. This regrets is what a lot of people do not know how to handle despite being so experienced with dealing crypto.

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We must understand that money is the ultimate thing, and this sometimes makes us neglect our finacial constraints or discipline. A lot of people are attracted by the profit they forget they have to gather knowledge or tutoring before actually investing. Many others do not know the foundation or inception of a coin, Infact they do not check the structure, look at the calibre of people buying in or even check if there's a use case for the coin. They forget to look at the creators of these coins or see if there's a sort of white paper especially if it's a sort of project. Are the creators locking in the coins to reduce liquidity and bring in more value to the coin? Is there a sort of plan to maintain the use case for the coin?

Will there be a case of rug pull? Or would it be possible for Investors to lose their their money through rug pull schemes?. All these are viable questions that can help people make decisions. These questions are the real financial advise determinant. A lot of people aren't financially stable enough and during their first experience with crypto they start out with shit coins which not guarantee then them the financial education they need. One thing is, shit coins sells due to the hype and not because they're actually valuable persay. One of the reasons why shit coins pump a lot is because we have a lot of people who wants to take the gains and put it into their main coins but when a newbie try to follow this pattern they end up failing.

Crypto is not all bed and roses and even people who are vast in experience constantly needs to upgrade. When I started buying into crypto my first major purchase was hive and after that I bought into Bitcoin and Eth. I knew of many people who had put all their money into a few shit coins and make quite a sustainable amount of money but then that wasn't me. I was a newbie, I was low on cash, I had no gurantee should I lose to gambling with shitcoins and this was a lesson I learnt in my newbies days. Many newbies had and still have this ponzi mindset "throw in everything and make it big". They forget to think of the repercussions to their finances and hence forget what is obtainable.

One of the biggest mistake a person can make is starting out in crypto and having instant high hopes to become rich very quick. Some of these coins owners knows and exploits these tendencies. Inasmuch as I wasn't expectant on making too much profits by buying btc I know my Investments were going to be solid and in the long-term i'll eventually make the gains I want. Steady of course wins the race. Crypto is luck and planning and not essentially money in the first instance. When it comes to making the hardest of finacial decisions everyone becomes a newbies because despite the charts and patterns and permutations no one exactly knows the future.