Are you a polymorphs crypto? Are you one of those people who literally believes any cryptocurrency is the best? If you answered YES to either of the questions above, then you are probably a polymorphs crypto! polymorphs crypto believe that all cryptos are the same, which means that they will only invest in coins with stable and growing value. They usually avoid speculative coins such as ethereum and ripple, because they are known for their fast rising values. But what if these qualities are not enough to buy your cryptocurrency? What if they actually have negative characteristics as well? In this post, we will discuss why being a polymorphs crypto is bad for your investments, how to stop it and how not to be one in the future.
What is a Polymorphs Crypto?
A polymorphs crypto is someone who bases their investments on perceptions and not facts. They are usually young people who have very low investment know-how, which often leads to them getting into cryptocurrencies in the first place due to their ability to invest easily. Because they are not always realistic about their investment objectives, they end up with very high investment risk. They tend to buy into companies that are Dominions and especially into the biggest coins. When those investments gain value, they think they have made a great investment, but in reality, they have lost money.
Why Is Being a Polymorphs Crypto Bad for Your Investments?
The fact that many people are becoming interested in cryptocurrencies does not mean that they will start buying into the medium and long term viability of these coins. As with most investments, you get what you put in and most of all, you get what you want. In the case of cryptocurrencies, it is usually your money that is on the line. If you want to make sure that you get your money’s worth, then you should only invest in coins with a proven and solid business model. Unfortunately, there are many cryptocurrencies that have no proven business model, but are still trading at huge price gains! And these gains are mostly based on perception, not facts. So, while it is fine to experience some short-term gain from a new investment, you would do better to put your money into coins with proven business models.
How to Stop Being a Polymorphs Crypto!
Unfortunately, being a polymorphs crypto is an inherited trait from one’s mother. This means that even if a person does not have any intention of being a cryptoer themselves, the genes that control their investment behaviour will remain inside their body and will show up in their investment behaviours. To get rid of this unwanted genetic code, you should consider to: – Look into the psychology of investing. Why does somebody buy a certain coin and what does the buying process look like? – Don’t be afraid to ask for help. There are plenty of people who are willing to explain how cryptocurrencies work, how to invest in them and how not to make mistakes. – Don’t invest more money than you can afford to lose. This means that even if you want to get into cryptocurrency investing, you should only invest a portion of your income at first. This way, if the investment fails, you will be able to survive better than if you had invested all of your money at once. – Don’t keep buying and trading cryptocurrencies. This is a quick way to lose all of your money. Simply put, you should not buy and sell cryptocurrencies every single day. Doing so will just lead to loss of capital over time. – Don’t sell your cryptocurrencies when you are about to lose them. Doing so will just lead to more loss of capital over time.
Conclusion
Being a polymorphs crypto is a bad idea for both short and long-term investments. It is important to remember that even though cryptocurrencies are all highly volatile and can lose a lot of their value in a short amount of time, over the long term, most of them tend to rise in value. So, while it is important not to fall into the trap of thinking that all cryptos are the same, it is also important to invest in coins with a proven business model. This way, you will be more likely to gain from the volatility in the market and will be less affected by the extreme price changes that often occur in these coins. And last but not least, don’t keep buying and selling cryptocurrencies until you have lost all of your money. Doing so will just lead to more loss of capital over time.
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