12 min
My Crypto Investment Experience : What I learnt in 6 months Journal Of Small Musings
-
- Self-Improvement
#podcast #crypto #investment
Hello and welcome back to another episode of Journal Of Small Musings,
A podcast that generally moves around career, productivity, philosophy and almost everything else.
Since the start of 2021, Crypto has been one of the most trending topics
So I decided to share my experience and how I invest in cryptocurrency.
Here I'm going to discuss this from a layman's standpoint that means,
the way I invest does not need you to have any special knowledge regarding cryptocurrency or blockchain or anything else.
I'm not a financial advisor nor a millionaire but what I am saying is these are a few things that I followed which provided me with better results.
So since the July of this year, I had been keeping track of my crypto investments and I had been successful in achieving at least 12% profit per annum.
and I'm happy with it.
I'll first discuss different things that I learned through out the process.
because I literally had zero experience in investment at that point.
First and the most important:
Understand what you can afford
and this will save your ass on a long long scale.
now let me elaborate
We all have heard the stories of way too many people getting homeless just cause they did a wrong investment.
Do you why that happens?
It's because they do not know what they can afford.
for example you have 100% of your monthly income.
Now in my case, I try to reserve 30% of my income for saving and investment.
That means I have 70% of my monthly income for my daily needs.
now assume I have multiple options for investment or savings
It might be a Provident fund, A mutual fund, Crypto, Fixed deposit etc.
Let's consider only these 4 for now.
There will always be 1 compulsory section in savings which is liquid cash for emergency cases.
that means in total you have 5 sections.
now we will divide the 30% that we are using for savings equally into these options.
that means each will get 6% of your monthly income.
This is what you can afford to invest in crypto.
This way even If you lose all of it, you're never in a bad situation.
The second thing is
to start small.
my first crypto investment was 100 rupees.
because you are trying to understand the market, understand the tendency of the coin, its behaviour
Crypto Investment will always be a game of who makes the best guess
and to make the best guess you will need to understand the game that you are playing.
Third point
Our aim is to consistently grow with having a balance between risk and profit.
The way I invest is not for someone who wants to become a millionaire quick.
Our aim here is to increase the value of our investments with the least no. of losses.
Results will take time, we are trying to grow gradually on a long run.
Fourth point
You need to be okay with losing everything you invested. The moment you will unfazed by the growing and falling of your portfolio will be the moment when you will stop taken decisions based on your emotions.
Remember it's just maths and they are just numbers If you start getting attached to your crypto investments.
then the market will start affecting your real-life decisions.
Fifth point
You need to trust the process that I am going to teach.
until and unless you don't trust it, you will not have patience enough for it to work.
Sixth point
Keep track of your progress in as many ways as possible,
I myself keep track of my crypto investments with respect to each month so that
It gives me enough time to study my investments, the behaviour of coins.
You need to work up an action plan based on actual figures not just on what you feel about the coin.
I guess this is enough for the first part of this video.
Regarding the strategy, I'll share it in the next part which will be released next Friday !!!
So don't forget to tune in again next Friday.
until then, keep hustling.
Bye
Background Music: Pomegranate Instrumental - Kota The Friend ( https://www.youtube.com/watch?v=EoEBMf6lilU )
Find this episode on Spotify: https:
#podcast #crypto #investment
Hello and welcome back to another episode of Journal Of Small Musings,
A podcast that generally moves around career, productivity, philosophy and almost everything else.
Since the start of 2021, Crypto has been one of the most trending topics
So I decided to share my experience and how I invest in cryptocurrency.
Here I'm going to discuss this from a layman's standpoint that means,
the way I invest does not need you to have any special knowledge regarding cryptocurrency or blockchain or anything else.
I'm not a financial advisor nor a millionaire but what I am saying is these are a few things that I followed which provided me with better results.
So since the July of this year, I had been keeping track of my crypto investments and I had been successful in achieving at least 12% profit per annum.
and I'm happy with it.
I'll first discuss different things that I learned through out the process.
because I literally had zero experience in investment at that point.
First and the most important:
Understand what you can afford
and this will save your ass on a long long scale.
now let me elaborate
We all have heard the stories of way too many people getting homeless just cause they did a wrong investment.
Do you why that happens?
It's because they do not know what they can afford.
for example you have 100% of your monthly income.
Now in my case, I try to reserve 30% of my income for saving and investment.
That means I have 70% of my monthly income for my daily needs.
now assume I have multiple options for investment or savings
It might be a Provident fund, A mutual fund, Crypto, Fixed deposit etc.
Let's consider only these 4 for now.
There will always be 1 compulsory section in savings which is liquid cash for emergency cases.
that means in total you have 5 sections.
now we will divide the 30% that we are using for savings equally into these options.
that means each will get 6% of your monthly income.
This is what you can afford to invest in crypto.
This way even If you lose all of it, you're never in a bad situation.
The second thing is
to start small.
my first crypto investment was 100 rupees.
because you are trying to understand the market, understand the tendency of the coin, its behaviour
Crypto Investment will always be a game of who makes the best guess
and to make the best guess you will need to understand the game that you are playing.
Third point
Our aim is to consistently grow with having a balance between risk and profit.
The way I invest is not for someone who wants to become a millionaire quick.
Our aim here is to increase the value of our investments with the least no. of losses.
Results will take time, we are trying to grow gradually on a long run.
Fourth point
You need to be okay with losing everything you invested. The moment you will unfazed by the growing and falling of your portfolio will be the moment when you will stop taken decisions based on your emotions.
Remember it's just maths and they are just numbers If you start getting attached to your crypto investments.
then the market will start affecting your real-life decisions.
Fifth point
You need to trust the process that I am going to teach.
until and unless you don't trust it, you will not have patience enough for it to work.
Sixth point
Keep track of your progress in as many ways as possible,
I myself keep track of my crypto investments with respect to each month so that
It gives me enough time to study my investments, the behaviour of coins.
You need to work up an action plan based on actual figures not just on what you feel about the coin.
I guess this is enough for the first part of this video.
Regarding the strategy, I'll share it in the next part which will be released next Friday !!!
So don't forget to tune in again next Friday.
until then, keep hustling.
Bye
Background Music: Pomegranate Instrumental - Kota The Friend ( https://www.youtube.com/watch?v=EoEBMf6lilU )
Find this episode on Spotify: https:
12 min