Whether you are a seasoned crypto-enthusiast or a newbie to the space, staying calm is the key to staying in control (and not losing money) in the World of crypto.
Have you:
Ever watched your portfolio halve in price in a matter of minutes or hours?
Ever panic sold at the bottom of a drop?
Ever bought at the top of a huge move?
If this is you, or you are worried it may become you, then this list will help keep you calm as you navigate, or enter, the undulating seas of crypto finance.
So, let's begin..
Tip #1 - Only invest what you are willing to lose
We are starting off the bat with the number one rule when investing in crypto. Do not spend what you do not have, or that you cannot afford to lose.
So for this, just be clear with yourself from the outset. How much will you invest, over what period of time?
Stick to the plan.
Tip #2 - Choose wisely
If you're choosing to enter the crypto market and know nothing about cryptocurrencies, only select the ones you know of. If that's just Bitcoin, start there.
Over-extending yourself with lots of coins that you don't understand and are not sure you can trust will weaken your resolve when the market does crash. So stay safe. Take small steps and only buy coins that you would want to hold long-term, that you could explain what they are to someone else, and that you believe in.
Tip #3 - Enjoy the ride
And take profits!
When your portfolio is WAY up .. sell some of your crypto. There is no guarantee the market won't drop. So take your profits when they're there.
And if there are no profits to be taken. Lean back and enjoy the ride!
There is something SO extraordinary, exciting and engaging about being in crypto. Being ahead of the adoption curve; having the ability to pick and choose the coins you want; choosing when to sell them, and how to use them, all of it generates a feeling unlike anything else. Full financial control = full financial empowerment! It changes you from the inside out..
AND whenever there is downtime us it to discover all the inventive ways that crypto is being used. Seek out all of the projects that are doing extraordinary things, it is truly inspiring!
So whatever the weather is of the cryptocurrency landscape (stormy, calm, HOT) there is never a dull moment and no end to where and what you can explore. So.. lean in and enjoy the ride!
Tip #4 - Meditate
It's so easy to fill posts with a need to turn to mindfulness, silence or meditation, and it may even bring feelings of boredom or anxiety, but the truth is, it comes up often because it is POWERFUL.. and a little secret - everyone can do it (it may just take practice or a willingness to let go).
And turning to meditation in moments of need is one of the perfect tools we all have that can truly bring calm when the world feels crunchy.
And meditation all starts with the breath and our attention.
Where you place your attention, your attention (and energy) follows.
And so, when you intertwine them. Bringing your attention to your breath. Something magical happens. You begin to slow down...
Reach in to the breath, encourage it to slow and deepen.
And just gently follow the gentle rhythm of the rise and fall of your chest as you breathe.
Lean into this present moment, drawing yourself in and away from the outside World.
Letting all worries, or tension, or tightness melt away like dew in the rising sun.
Weave the fabric of this stillness with your imagination and take yourself away to a far off land where there is nothing but gentle waves rolling in and out on a white sand shore, where a gentle breeze touches your skin, and the warmth of the sun warms your body. Filling it with the eternal radiance of life. Nothing can find you here. You are safe, supported and at peace....
...And now that you know how, sink down into your breath before every decision you make. Knowing you are 'choosing' your way, you are safe, nothing has gone wrong.
Now, for the final crypto-calming tip!
Tip #5 - Don't look
You're in it for the long game, right?
You heard about Bitcoin and you wanted to get in. Why? Because you believe in the potential for long term gains.
And so, it's time to learn patience, and to let your Bitcoin rise and fall and ultimately grow.
This patient attitude is just what you need to succeed in crypto. It may not sound like the most exciting strategy, but it has proven to be the best one.
"Nothing comes as an accomplishment instantly. Success does not come overnight. Patience is the key! Grow up and be the tree; but remember it takes dry and wet season to become a fruit bearer, achiever and impact maker!"
- Israelmore Ayivor
In the down-trends it is the perfect time to educate yourself, strategise, relax and buy when the market is low.
In the uptrends, keep an eye on the big movers and when you're in good profit sell some of your coins and bank that profit. If you can come away with your initial investment, and everything in the space is pure profit then you are doing well!
And when times are good aways extend your gratitude to the space, and don't forget to give back.
When money comes our way, we welcome it, it's high time to begin our journey towards loving money!
And we look to pass on some of that love! We share our wisdom, we teach, we tip, we donate to good causes, we support the system in order that it can support others'.
This is the crypto way.
Let go of fear, it has no place here
The crypto space is yours to explore, it is up to you what you do. You decide your risk and reward. So go gentle, go slow, learn the essentials, connect with others' and have fun!
And when the market drops (as it always will in the wild of the crypto seas) just ask yourself '..and so what?' Knowing life is a journey, and for now crypto is the game.
"Our doubts are traitors, and make us lose the good we oft might win."
- William Shakespeare
All our worries stem from fear, and three ways to release fear are through surrender, love and knowledge.
Surrender and love we can conjure through all the practices above, and knowledge we can achieve through learning. And if you are looking for the perfect entry-level knowledge to keep you safe and steady then join our next course. Click Here to find out more.
There is no better time than the present.
Tansy Baigent is a Crypto Coach, Psycho/Spiritual Counsellor, Meditation Teacher and Environmental Legal Expert, she founded The Crypto Ethic in 2021.
The Crypto Ethic focuses on being on the heart-led side of crypto. To bring consideration, conscious decision-making, kindness and integrity to all things crypto.
If you are interested in deepening your meditation practice or learning more about crypto, contact us at info@thecryptoethic.com and we can support you from wherever you are on your journey. We look forward to hearing from you.
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