Important Reminder About Investing and Finances

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Important Reminder About Investing and Finances

After a huge blood bath and honestly one of the most perfect storms of bad to hit crypto in a very long time I feel it's important to go over some core investment suggestions.

When There's Blood

For whatever reason when there is blood being split heavily in the markets a majority of people get REALLY weird.

The first rule above all else is don't invest anything you are not willing to lose. This was the biggest mistake I saw with LUNA and UST recently. About people losing it all. As much as it pains me to say it you honestly only have yourself to blame. Either you didn't do enough research yourself before investing to see how it all worked or you invested far too much that you shouldn't have.

I feel it's important to say that even stable coins are not sound investments. They are not backed by the FDC and insured if you lose it you lose. Crypto is high risk because it's new, it's being innovated and built right now and it is not insured. If you lose you lose simple as that and it's why you should be very careful where you put your money.

The MEME Phases

Stop investing in meme garbage looking to make a quick buck and start doing a little research and investing time into where you are putting your funds. There are good core legitimate projects that are building and shaping the true future of web3 and crypto. However they often get over looked as it's a slow sluggish process and not flashy and fancy like some of the other stuff.

This has already happened many times in the crypto space. One of the first was the meme layer 2 tokens and projects that exploded out of 2017. Some where legitimate project which are now worth a lot while others where a flash in the pan. The trailed over into NFTs and the same thing. There are legitimate NFTs and there are flashes in the pan. You have got to do your own research.

I'm hoping many learned their lesson this time around and don't take crypto, NFTs etc as bad things and group it (even though people love doing that for some reason) Instead take it as a lesson learned that YOU made the mistake and the bad choice and to learn from it. How can you better research and learn before investing and realizing you should only invest so much without risking it all.

What's really crazy is I feel my Assets I built are the things that took the least hit during all of this. For example my Splinterlands NFT cards maybe lost 7% while everything else tanked 30%+ during this sell off. There are now many options outside of just crypto tokens to get involved with.

*This article is for entertainment purposes only and not investment advise. Do your own research before investing and understand the risks before you do. Above all else take responsibility for your own actions.

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