This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. With the crypto space exploding and everyone supposedly hitting it big, lucrative shortcuts are advertised at every corner, guaranteeing you riches if you just do a few simple things. They come in all shapes and sizes and usually rely on risking your entire portfolio on a "sure thing," be it a trading system or specific coin.You might think that only newcomers fall for these traps, but many of the victims are traders and investors who have grown restless over time. The longer the market takes to move up and to the right, the more likely it is that patience begins to wane, even for the most seasoned traders. Scammers know this and use this psychology to their advantage. They flex their Rolex watched while sitting in a Ferrari outside of a mega mansion on the water in Miami on their Instagram account. If they did it so can you - right?Wrong. Have you ever seen Buffet, Soros, Dalio, Cohen, Ackman, Woods, Icahn or any of the other greats behave in this manner? Shouldn't they be the ones publicly stepping onto private jets and flexing their jewelry?They don't have to, because they aren't trying to sell you anything.Let’s break down some of the most common shortcuts in the crypto space.Going All In - I never recommend that anyone go all in because of the risk it entails, but I will acknowledge that this is the strategy of many of the greats listed above. What usually happens when someone ‘goes all in’ is they find themselves stranded in a losing asset or making poor emotional decisions because they are gambling with money that they can't afford to lose. There is no crypto that is invincible and is no need to go all-in in this space to succeed. Moving Further Down The Risk Curve - After a trader or investor establishes a certain level of comfort in Bitcoin and Ethereum, they want to kick it up a notch and move towards “greener fields.” They are actually often moving further and further away from profitability and closer to a negative return. If it was so easy, everyone would do it. Properly moving down the risk curve requires diligence, patience, conviction, and research, attributes that many traders and investors are not ready to stomach or exhibit.Buying A Niche NFT Project - This is also the same as buying land in the metaverse or yield farming. These methods are advertised as sure things without warning newcomers of the downside. Impermanent loss, dropping floor prices, and poor tokenomics are rarely mentioned when you sign up. I am aware that you can hit it big in these innovative sectors, but I’m also aware that you can hit snake eyes in Vegas - neither are likely. Leverage - This is the dagger that leaves more traders in crypto broke than anything else. You see it all the time - traders are desperate to "earn it all back" on one trade, or want to amplify the size of their bets. Leverage is readily available and abused like a drug. It’s a fast track to rock bottom. Leverage is a tool designed for the big players to minimize risk. Most traders should never touch leverage and those that do should only be using it in very small doses. Get Rich Quick Course - “All you have to do is sign up and pay for access to our discord and you can be financially free within 9 months.” It’s always a variation of this. If it sounds too good to be true, it almost always is. There are so many good educational platforms out there that are free or cheap with the goal to actually educate you. Don’t sell yourself short or take shortcuts with your education.As George Soros once said, "if investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring."In This Issue:Shortcuts Never WorkBitcoin Thoughts And AnalysisThe FBI Is Closely Watching CryptoUkraine Legalizes CryptoBiden's Executive Order On Crypto Coming Next WeekMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #439 - Shortcuts Never Work
The Wolf Den #439 - Shortcuts Never Work
The Wolf Den #439 - Shortcuts Never Work
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $3600 worth. With the crypto space exploding and everyone supposedly hitting it big, lucrative shortcuts are advertised at every corner, guaranteeing you riches if you just do a few simple things. They come in all shapes and sizes and usually rely on risking your entire portfolio on a "sure thing," be it a trading system or specific coin.You might think that only newcomers fall for these traps, but many of the victims are traders and investors who have grown restless over time. The longer the market takes to move up and to the right, the more likely it is that patience begins to wane, even for the most seasoned traders. Scammers know this and use this psychology to their advantage. They flex their Rolex watched while sitting in a Ferrari outside of a mega mansion on the water in Miami on their Instagram account. If they did it so can you - right?Wrong. Have you ever seen Buffet, Soros, Dalio, Cohen, Ackman, Woods, Icahn or any of the other greats behave in this manner? Shouldn't they be the ones publicly stepping onto private jets and flexing their jewelry?They don't have to, because they aren't trying to sell you anything.Let’s break down some of the most common shortcuts in the crypto space.Going All In - I never recommend that anyone go all in because of the risk it entails, but I will acknowledge that this is the strategy of many of the greats listed above. What usually happens when someone ‘goes all in’ is they find themselves stranded in a losing asset or making poor emotional decisions because they are gambling with money that they can't afford to lose. There is no crypto that is invincible and is no need to go all-in in this space to succeed. Moving Further Down The Risk Curve - After a trader or investor establishes a certain level of comfort in Bitcoin and Ethereum, they want to kick it up a notch and move towards “greener fields.” They are actually often moving further and further away from profitability and closer to a negative return. If it was so easy, everyone would do it. Properly moving down the risk curve requires diligence, patience, conviction, and research, attributes that many traders and investors are not ready to stomach or exhibit.Buying A Niche NFT Project - This is also the same as buying land in the metaverse or yield farming. These methods are advertised as sure things without warning newcomers of the downside. Impermanent loss, dropping floor prices, and poor tokenomics are rarely mentioned when you sign up. I am aware that you can hit it big in these innovative sectors, but I’m also aware that you can hit snake eyes in Vegas - neither are likely. Leverage - This is the dagger that leaves more traders in crypto broke than anything else. You see it all the time - traders are desperate to "earn it all back" on one trade, or want to amplify the size of their bets. Leverage is readily available and abused like a drug. It’s a fast track to rock bottom. Leverage is a tool designed for the big players to minimize risk. Most traders should never touch leverage and those that do should only be using it in very small doses. Get Rich Quick Course - “All you have to do is sign up and pay for access to our discord and you can be financially free within 9 months.” It’s always a variation of this. If it sounds too good to be true, it almost always is. There are so many good educational platforms out there that are free or cheap with the goal to actually educate you. Don’t sell yourself short or take shortcuts with your education.As George Soros once said, "if investing is entertaining, if you're having fun, you're probably not making any money. Good investing is boring."In This Issue:Shortcuts Never WorkBitcoin Thoughts And AnalysisThe FBI Is Closely Watching CryptoUkraine Legalizes CryptoBiden's Executive Order On Crypto Coming Next WeekMy Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO