Yes, there’s no denying that investing in crypto, Bitcoin in particular, has made people rich in the past. Those who got into Bitcoin early, before crypto started to really take off, turned a nice profit. There is still money to be made in crypto. However, that’s an uphill battle that maybe not everyone is willing to fight. I would argue, therefore, not to invest in crypto purely for the sake of making money. Instead, you should invest in a project you’re proud to support.
This is not to say that nobody will ever make money from crypto again. It will be harder though now, with crypto a popular asset in many investors’ portfolios and so many altcoins fighting for attention. Instead of focusing so much on the money side of things, why not find a project you believe in and support that?
There are a lot of crypto projects out there. New ICOs are popping up every day. There’s bound to be a project, somewhere in this wide world of crypto, that makes you excited. That’s the project you should focus on. Choose a project you believe in. Chances are, you’ll get rewarded in the end – not necessarily in profit, but in the knowledge that you helped raise something you’re proud of from the ground up.
To find the project that’s right for you, you’ll need to do research. Figure out what the team behind the coin is trying to do. For example, Lisk wants to help you build your own app store. Stellar is looking to help fight poverty. Find the project that you believe in and support that, not to make money, but to support the cause, whatever it may be.
If Bitcoin is the currency you believe in, then invest in Bitcoin. If it’s Litecoin, invest in Litecoin. Crypto is about having fun. Sure, you could make a profit eventually, but you also might trade away your crypto before it’s worth anything or you might end up losing your investment. That’s why it’s more important to get involved in a project that you can hold your head up high about, no matter the outcome.
This brings me to my next point. Don’t put your entire livelihood into crypto. Don’t invest what you can’t afford to lose. Crypto is a volatile space, which means that sometimes you will lose, so it’s better to play things a little on the safer side.
If you’re proud of the project that you’ve invested in, then I think you’re doing crypto right.