Does Being Early Matter in the Crypto Space?
Someone asked, "does being early matter in the crypto business or space?" As expected, there will certainly be varied answers and views to this question by several people.
However, whether early or late, it is pertinent to acquire the right crypto knowledge as this will help guide the overall decisions made by a crypto investor or trader. For some, it doesn't matter the time of joining the crypto train; what matters most is that profits are being made.
In attempting the above question, it is worthy of note that being early matters a great deal in the crypto space. The fact still stands that crypto early birds have an edge and a better investment opportunity over newbies and late investors. Nonetheless, it is never too late to start investing in crypto as they are countless emerging opportunities.
Here's my take
Why Being Early Matters in Crypto
Shortly, you will get to know why being an early investor in crypto projects matters. Yes, it's never too late to invest in cryptos but as the saying goes, early to bed and early to rise.
Cheap Accumulation and Increased Profitability
Continuously, it keeps getting more costly to buy 1 Bitcoin, 1 Ether, 1 LEO, or 1 Hive. This is so because the price for each of these coins keeps hitting new all-time highs as adoption and development consistently roll in.
A little rewind to 2009 shows 1 BTC at less than $1 in price but that is not the situation today. Bitcoin has grown to hit an all-time high of $69k and at the time of writing, the price of 1 BTC equals $43,000.
Meaning, the same $43,000 someone uses to buy just 1 bitcoin today would give over 43, 000 bitcoins as of early 2009. This is the point when people say, the difference is clear.
And then the question comes, when is it less costly to buy 1 BTC? Today, in the future, or was it years back? Unarguably, it is clear that accumulating bitcoin was cheaper than it is today or will be in the future.
The same applies to numerous other solid crypto projects. This is so because, adoption, expansion, and development tend to impact the price of crypto assets.
Therefore, being an early investor allows you to accumulate more of the coins or tokens at a cheaper price compared to someone who begins to invest when the price must have already been pumped.
Thus, being early gives the advantage of cheap accumulation. More so, being an early investor allows for increased profitability. However, increased profitability only comes when you invest in solid projects. Solid projects here, refer to blockchain projects with good fundamentals and tokenomics while also providing unique use cases and being development-focused.
Final Thoughts
You may have missed out on being an early bird with bitcoin but you don't have to keep being late on other existing and emerging crypto projects. It might interest you to know that there are countless baby projects with good fundamentals and unique use cases. The best time to invest in them would be during their infancy.
Hence, stop wishing you were an early investor in some successful projects today and start taking advantage of developing projects.
Tell us your story, what crypto do you wish you invested in early?
Posted Using LeoFinance Beta
