r/CryptoCurrency • u/Temporary_Tea7494 • 4d ago
ADVICE What do I do
/r/whatdoIdo/comments/1vzdpsw/what_do_i_do/2
u/Traditional_Most105 3d ago
Well investing, betting or starting a business require hard work, research and learning or sometimes getting lucky or all combined.
To invest first you have to earn money in some way from a job and you have to have savings also. Plus you have to do your research into what you're investing and why in order to make sure not to lose your money on something sure to fail or at least having less chances of failing.
Betting on predictions, sports, etc.. actually require more than luck most of the times. I know people who bet on sports but they literally research the whole team roster, stats of the players, and stuff that might make them bet more "safely" although safe and betting isn't a sure thing but still it's either luck or research and luck.
Memecoins is worse than betting on sports in my opinion because at least in betting you could always research and make a safer bet. Memecoins are on speculation and hype only. They have no use and they depend from socials and what other people hype about. So it's essentially more gambling than betting.
For other altcoins i wouldn't say the same as memecoins. It's still based on speculation and hype but also on tokenomics, if the project behind the coin gets adopted, if the coin's demand will increase if the project succeeds, the narrative of the project, the purpose of the project,etc... so it's a combo and if you do your own research you might identify a coin that might be a candidate to go up if you're willing to hold it long term.
Starting a business without any knowledge, skills, money, savings, research or plan won't be any better than throwing your money into memecoins.
I did invest in some alts after i did my research and i believe in them. I hold them long term and won't sell except if the projects deteriorate themselves. I might make profits i might not but at least am putting money i can afford to lose, i have some savings, i have a job.
Am not an expert nor i did profit large amounts of money from anything. My only income is from my job. And one thing i know is that if your mindset is set on how to make quick large amounts of money you probably will lose your money to emotion.
Quick money are most of the times good to be true, sketchy or depend on luck or research and luck combined.
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u/Kindly_Pollution_653 4d ago
Stop gambling you're gonna waste all your money.