Coming from stocks, I deem crypto investing quite different, and I am still to get my complete understanding behind it. When talking about stocks, there are a lot of people and investors that tend to spend their money on businesses or shares they firmly believe in.
Talking about cryptos, I see a lot of people cashing out on short term for quick money, but the question is, is it worth playing it like that or better to consider the project behind the coin long-term? Regarding stocks for instance, Nvidia is a share I really do believe in and the sentiment itself is what keeps me holding the stock no matter the market. There was a huge dip in May, similar to what the crypto market is facing now, and although difficult to hold, I strongly believed in the long-term.
Regarding coins, I struggle to understand the approach people have. I am, by no means, expecting people to run down details on what they do, as we are not here to give financial advice, but a small explanation on how you address your investments: both short-term and long-term. Similarly to the stock mentioned above, I do have the same kind of interest for coin Oracle ($ORA), it’s quite new so I don’t expect many to know it. I really believe in the platform they want to create (just for context it’s a NFT market for ideas, so you just buy others’ ideas) and I would like to see their project created and support them long term, but how popular is the cashing out in cryptocurrencies? Everyone seems to be spamming to the moon to the moon, but most people seem to be selling.
Comparing stocks with crypto is like comparing swimming in the sea vs swimming in a bathtub, for me crypto investment is very good and prospect, there is an opportunity to make our money increase up to 500% even in a day, whereas it is impossible for us to get in stocks. And in the other side our money can lost 99,9% only in a day.
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