Today's wealthiest have become superheroes of finance thanks in large part to their investments in cryptocurrency— with many people claiming that investing in cryptocurrency will make them rich.
But then there are those individuals in developing countries around the globe who have been completely left behind by the rapid growth of cryptocurrencies; yet millions still haven't been given opportunities or even access to participate in cryptocurrency-related opportunities such as jobs and access to capital.
- Lack of ability/knowledge to effectively utilize technology (for example, how to navigate/explore the many websites that offer resources to help individuals learn how to use technology — i.e., how-to manuals).
- Poor education level (many people do not have basic education—especially those aged 18 to 24).
- Lack of job training programs available to low-income families; therefore, few options to support low income families' need for jobs (many low education individuals will not find jobs but instead wind up being turned away from jobs where they could possibly make minimum wage).
- Lack of alternatives to working in jobs where pay is below the minimum wage.
- Lack of skills necessary to obtain a degree (many individuals who do not own a home or car do not own the necessary tools/equipment or skills to go into debt to pay for school).
- Low confidence in their ability to be successful/earn sufficient income so they will not pursue careers in similar fields.
Lack of Knowledge (The Real Reason)
The Truth of the Matter: 📉 Most traders partake in the market without any knowledge of what they are doing.
A trader does not understand:
Market Cycles
Risk Management
Portfolio Asset Allocation
👉 Imagine trying to run a race without first learning to drive a vehicle.Emotional Trading
Trading Cryptocurrency is about More than just reading a chart, it is also about the emotion behind the trader.
Traders Typically
Sell due to fear
Buy due to Greed
👉 An intelligent trader will stick to his or her plan and strategy.
While other traders trade on emotions and lose money.Copy-Paste Investing
A lot of rookies:
Follow influential traders on social media without understanding them
They trust the words of signal groups
But:
Everyone has a different goal, different amount of money to invest, and different level of risk tolerance/tolerance to the loss of money.
What normally happens? 📉 Loss of Money, Frustration, and ultimately giving up.
So What Do You Do?
In order to break out of Digital Debt:
✅ Learn and Create that knowledge
✅ Start small
✅ Look at long-term to accumulate
✅ Develop your own style and strategies
✅ Practice risk management techniques
Message for LeoFinance Community
If your goal is to only make money then you will not be in this community for a long time.
However, if you are here to learn, share knowledge, and remain consistent, then you will not only make money but, you will also grow.
Final Message
👉 Understand
👉 Be Patient
Digital Poverty does not just indicate that you have no money; digital poverty is the lost of knowledge and mindset around creating wealth.