When you invest in Bitcoin, or any other cryptocurrency, you need to develop resiliency. It helps to have the right mindset in place so you'll be able to withstand the ups and downs of investment in volatile assets. Here are my 11 "commandments":
- I hold my crypto in self-custody wallet, therefore I own it (I don't keep my crypto on Exchanges or buy Bitcoin ETF)
- I, and I alone, am responsible for my crypto
- I'm aware and alert of scams & hacks
- I am aware of what I click or tap on
- I'm investing, not trading
- Invest in assets with liquidity
- Invest only small amounts in low cap/low liquidity assets
- Control my emotions (a hard one): Try to avoid impulsive decisions based on fear, greed, or hope
- It's okay to sell if you need the cash (food, rent, etc)
- There are other Cryptos other than Bitcoin
- I'm learning something new everyday (read, videos, etc)
Do you have other/additional beliefs?
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