The Role of Community in Minimizing the Fear of Loss
For those who are new to the crypto space, investing could be causing extreme fears. And one of the many reasons that hold back people from investing in cryptocurrency is the fear of losing their money.
Investing in crypto and losing money could be a significant financial risk while there is also a chance that the crypto can go up but it is also is undeniable thinking of the crypto crash resulting in significant financial losses. It is also risky investing in a new crypto project.
In case of unreleased tokens while the signs are positive about it but still without a history of proof, investing in it could be intimidating.
But, it isn't only about the unreleased tokens because we have seen a recent example of Luna, UST crash which literally just crashed drowning thousands of dollars of investors.
The Fear of Loss
The fear of loss is considered to be a big reason and this is because of the lack of understanding and knowledge about cryptocurrency. And the solution to it is education. People should be educated in arming them with the informative knowledge in an attempt of minimizing the risks associated with it.
Lack of financial literacy could have a drastic impact on the mental health as well.
Community's Power
Educated people about the crypto could also be facing the fear of loss but the thing that distinguishes the crypto investing to traditional investing is the power of the community behind it. The opportunities this online crypto community provides are many.
Community's discussion about a crypto projects gives one a good insight about the future of the project. And if an online community is speaking highly of the crypto project, there is a good chance that the project could succeed because of the collective interest shown by the community and vice versa.
Being surrounded by a community making the same decision as you may help in minimizing the fear of loss.
And this is what I like about Hive ecosystem and specially LeoFinance community which I am also a part of. I have learned a lot of things being here either reading things on LeoFinance.io or their discord channel. The community has been really helpful as well.
How is LeoFinance community helping you in making your financial decissions? Do Share with us on LeoFinance frontend :)
Posted Using LeoFinance Beta
