Market is down, emotion takes over and some of us are experiencing their first bear market, it’s tough.
@cobie often says that crypto is a survival game, you have to figure out what can kill you.
Indeed, understand what can knock you out of this game.👇
@cobie often says that crypto is a survival game, you have to figure out what can kill you.
Indeed, understand what can knock you out of this game.👇
@cobie What can kill you?
👉 Leaving your money on an exchange/entity that went bankrupt/stole your funds (Mt. Gox)
👉Losing the private key/seed of your cold wallet
👉Leaving you funds on a specific blockchain/protocol that crashed (Terra)
👉Having a poor risk management
👉 Leaving your money on an exchange/entity that went bankrupt/stole your funds (Mt. Gox)
👉Losing the private key/seed of your cold wallet
👉Leaving you funds on a specific blockchain/protocol that crashed (Terra)
👉Having a poor risk management
@cobie To survive, @ledgerstatus used a great analogy called the "Horcrux method", which is a Harry Potter reference.
To survive, you just have to split your soul into many different places. Same for your money: spread across exchanges, custody types & blockchains to survive
To survive, you just have to split your soul into many different places. Same for your money: spread across exchanges, custody types & blockchains to survive
@cobie @ledgerstatus This will prevent you from losing 100% of your money.
"You can’t win if you’re not betting, but you can’t bet if you lose all your money"
It's also important to diversify outside crypto: don’t put all your eggs in one basket.
"You can’t win if you’re not betting, but you can’t bet if you lose all your money"
It's also important to diversify outside crypto: don’t put all your eggs in one basket.
@cobie @ledgerstatus However, understand that generational wealth is created during bear markets.
No one can tell how low we can go. Therefore, the best strategy here is also the most simple one: DCA the coins you like the most which have strong fundamentals.
No one can tell how low we can go. Therefore, the best strategy here is also the most simple one: DCA the coins you like the most which have strong fundamentals.
@cobie @ledgerstatus Prices have changed but fundamentals are still the same, take that into account when you decide to buy a coin.
Focus on top quality teams, the ones you are sure will still be there years later.
Accumulate their coins, put them into staking, increase your bag & wait peacefully.
Focus on top quality teams, the ones you are sure will still be there years later.
Accumulate their coins, put them into staking, increase your bag & wait peacefully.
@cobie @ledgerstatus Fortunately, bear markets = build markets for the #cosmos ecosystem. We have an army of builders ready to ship next technologies that will expand our ecosystem.
So, let's build!
So, let's build!
https://twitter.com/RobbStack_sats/status/1536262081661620230?s=20&t=zXHqqwXdfq8LuuCt3WSITw
@cobie @ledgerstatus Please, be safe out there Cosmonauts ⚛️ 🙏
You can join our Telegram group if you want to speak about anything related to Cosmos: t.me/+oXrUbkJewTpkZ… t.me/+oXrUbkJewTpkZ…
You can join our Telegram group if you want to speak about anything related to Cosmos: t.me/+oXrUbkJewTpkZ… t.me/+oXrUbkJewTpkZ…
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