Qualities worth developing as a crypto enthusiast (Investor).

[adjed]

1,3 and 4 are definitely very important and many people tend to lack that trait, you also have to learn how not to be moved by the sentiments of others especially when it comes to their choice of project to invest in, everyone is looking out for their pocket, that is the mindset you should always have.

[maxreish]

Most of these qualities are being forgotten. I will not disagree bout those qualities that are mentioned above. Just to add some,

• Passion
  
  If you are really passionate enough with what you are doing, then continue to acquire your goal.  I mean if you are being a crypto investor by heart, there is a positive outcome to become a successful crypto enthusiast.
  
  
• Stand on your ground and stick to your plan.
  
  How many times did I change my plans and regret  it afterwards? Many times. That is why I have learned from my experience that sticking to my own TA and decisions is really great gaining profits.
  

[Baby Dragon]

Patience is important but be sure that you are being patient in a project that will give you high returns. You will just waste your characteristics of being patient if you participate in a not good project where you will lose your money.

For me, it is knowledge that is the most significant factor. An investor must understand digital market, bits of blockchain technology and bitcoin in depth. No matter, even if pans to choose some altcoin, things wont make a whole lot of sense to him if he ignores bitcoin. This way, he will be able to choose the right coin, most probably bitcoin itself. Then he needs to show some patience and hold for a good duration.

Well they are both needed to be a crypto enthusiast because if you have enough knowledge and understanding then it will be easy for you to make wise decision for yourself because you are thinking the possible outcomes of your decision and you are looking for some ways to avoid the possible problems that you might encounter. Also being patient is required why? because if you absolutely want to earn huge profit then you have to wait patiently. If you undoubtedly wanted to achieve your goals as an investor you should've think about your future and being successful takes so much time so be patient enough because it needs some effort and time, its also very speculative.

[panganib999]

Patience is really important but I still see some people who will get angry to the other person because of what he/she posted that made those people get angry at you  and you didn't even know the exact reason why. Same goes to the other people. Patience, it will help you construct great project and security cautios.

You're right and this issue is very common, people are acting opposing to the way they talk and we can't do anything with especiallybwe are talking about patience. We all have different lenght of patience, boiling points and sensitivity so other's words might be hitting the wound of others making it sting and leads to anger and lighting up arguments. Hoping people could learn what the real patience is and also have sensitivity to balance everything.

[Drai]

9. Know when to move on: Many investors are left holding bars of shitcoins because they lost a little fund when an investment they made don't pan out, for example some people would invest in an ICO because the hype was massive and they know that there is likely to be huge returns but after the token is listed in an exchange, the token didn't meet expectations but they refused to just dump and move on even knowing fully well that the token has no utility and is basically a shitcoin but they just don't want to accept that loss and move on, so they keep holding until it gradually fades to nothing and they start regretting not dumping at the beginning when they would have retained a large chunk of their investments.

[agentx44]

Picking interest in the cryptocurrency industry is one thing, been able to profit from your stay in the space is another thing. The industry is a host to many distractions (disguise as investment opportunities) that can lead to lost of capitals but with the help of some disciplines, you can navigate your way around. To enjoy & profit from your stay in the industry, there are some qualities I deem fit you should develop. Most of this qualities, I have been able to develop personally and have seen encouraging results. Each of this qualities have their rewarding benefits, below are some of these qualities;

1]: Be Patience: Wikipedia defines patience as; "the ability to endure difficult circumstances such as perseverance in the face of delay; tolerance of provocation without responding in annoyance/anger; or forbearance when under strain, especially when faced with longer-term difficulties". This definition can be related to the current market situation of the industry. Having patience with your investment especially when it comes to bitcoin is a key habbit an enthusiast will have to developed in order to record success from the industry. Our predecessors that didn't possess this qualities one way or the other, had all regretted their decisions made back then to sell their bags causing them to miss out on the current profits of holding bitcoin. It's quite easy to develop this habbit, if you can take your mind of the frequent movement of price of bitcoin and concentrate more on buidling your investment portfolio. Many veterans in the space will tell you, this is the best strategy you can engage the market with and without any doubt, they're right.

2]: Be security cautious: Humans in general aren't know to be security cautions when it comes to finanace that's why they entrust the government, bankers etc to handle their financial security. You can also observe this trend making its way into the cryptocurrency industry as  Investors are entrusting the safety of their investment to exchanges. From recent development, you can observe the exchange has gone beyond just holding Investors coins but now recommending what to invest in and what not to (AKA initial exchange offering). More power has been given to the exchange therefore as an enthusiast you have to understand, the security of your coins and choice of investment is a personal responsibility which shouldn't be assigned to any entity. Making security of fund you number priority goes beyond just safe guiding your coins in your personal wallet, it also involves been cautious of the exchanges you're patronizing and the level of private information you give out to this exchanges. Most individuals will argue that, this is the number habbit a cryptocurrency enthusiast should develop and they're not wrong as the benefits associated with this qualities is what will determine the success rate of been patience with the market.

3]: Be teachable: The moment an enthusiast feels he/she has gotten to a stage they're no longer teachable that's the moment that enthusiast is doom for failure. The cryptocurrency industry is constantly evolving (improving and growing). What might be the right decision today might become absolute tommorow. Staying updated with the latest trends in regards to security etc is a very important quality an enthusiast has to possess to enable profitablity from the industry in regards to not getting left behind while the industry continues to grow. e.g Back in the early days, participating in faucet would had been a good alternative to earn some bitcoin but currently they're a waste of time.

4]: Smartness: This quality us mostly for the short term profit seekers which might involve trying to outsmart the market by trading or capitalizing on new trends. Understand that this is quite a tricky quality to possess as sometimes your stupidity might be mistaken for smartness and unless you have the required skills and abilities to perfect this quality it's advisable you abstain from trying to leveraging on it. If you're interested in outsmarting the market then staying informed and been able to act smart should be a quality you should possess.

5]: Learn from experience: Be able to learn from experience is one of the most important qualities you should develop as a cryptocurrency enthusiast. There's nothing wrong in making mistakes but the inability to learn from those mistakes becomes a problem because it'll cost you, your opportunities to profit from the industry. If you made the mistake of chasing after the ICO hype and was unsuccessful then you didn't learn from that mistakes to improve on your investment decision making but decided to repeat same mistake by chasing after the IEO hype it simply means you aren't ready to learn from experience. Same goes for entrusting your funds to management sites which are just "scammers"  Ponzi operators disguise as "whatever they claim to be". Experience is rge best teacher therefore as a cryptocurrency enthusiast that intend benefiting frim the industry, been able understand the lessons taught by your mistakes should be a quality you should develop.

PS: Understand that the bitcoin and altcoin market works in different ways, while the bitcoin market works in cycle that can't be assured with the altcoin market in general since most of the current altcoins won't last long therefore while been patience is a quality you should develop while Investing in bitcoin, that can't be said with altcoins instead your smartness might play a part when it involves the trading approach.

Note: The numbering wasn't done in any specific order.


Additional qualities worth developing:

6]: Be skeptical: Most of the claims that you will read are misguided, unsupported, or just wishful thinking.

7]: Being firm in your belief along with patience is also important: I will try to explain this with an example:

Say a person bought bitcoin at a certain price and now the altcoins are going up while bitcoin is down. The person loses patience here because they were not firm on their belief of bitcoin's future. What happens is that because of the panic they buy altcoins, but this again the wrong move, because those coins are at all time high now. Very soon the price of altcoins come down and bitcoin goes up, but this person is now holding these altcoins and crying because they didnt firmly hold on to the bitcoins.

8]: Passion: If you are really passionate enough with what you are doing, then continue to acquire your goal.  I mean if you are being a crypto investor by heart, there is a positive outcome to become a successful crypto enthusiast.

We can consider all of these as important most specially patience. Not everyone can wait for so long so if you are not the kind of person who likes to wait for a long time, investing on crypto would not be very ideal for you. Passion is also important, it is the contribute that keeps you on going on and it is the one that makes you believe still amidst the failures occuring on the coin you are currently investing with. Always be optimistic too, you can dessiminate the vibe to everyone which will help the coin you are currently investing with.

[acdc]

Intelligence is a very abstract and difficult thing to measure, all want to do everything very well and bring high efficiency but it is very difficult.
I can contribute that cryptocurrency investors need to limit their emotions because Emotions are enemies of cryptocurrency investors.
Investing in cryptocurrencies is a really stimulating game: the price goes up, the price goes down continuously, the numbers are constantly dancing on the electronic board. New investors will be excited when the currency hit the ceiling, anxiety will appear all day when the currency is falling. Emotions will drive you to the wrong decisions. So be careful with your emotions

[agentx44]

Picking interest in the cryptocurrency industry is one thing, been able to profit from your stay in the space is another thing. The industry is a host to many distractions (disguise as investment opportunities) that can lead to lost of capitals but with the help of some disciplines, you can navigate your way around. To enjoy & profit from your stay in the industry, there are some qualities I deem fit you should develop. Most of this qualities, I have been able to develop personally and have seen encouraging results. Each of this qualities have their rewarding benefits, below are some of these qualities;

1]: Be Patience: Wikipedia defines patience as; "the ability to endure difficult circumstances such as perseverance in the face of delay; tolerance of provocation without responding in annoyance/anger; or forbearance when under strain, especially when faced with longer-term difficulties". This definition can be related to the current market situation of the industry. Having patience with your investment especially when it comes to bitcoin is a key habbit an enthusiast will have to developed in order to record success from the industry. Our predecessors that didn't possess this qualities one way or the other, had all regretted their decisions made back then to sell their bags causing them to miss out on the current profits of holding bitcoin. It's quite easy to develop this habbit, if you can take your mind of the frequent movement of price of bitcoin and concentrate more on buidling your investment portfolio. Many veterans in the space will tell you, this is the best strategy you can engage the market with and without any doubt, they're right.

2]: Be security cautious: Humans in general aren't know to be security cautions when it comes to finanace that's why they entrust the government, bankers etc to handle their financial security. You can also observe this trend making its way into the cryptocurrency industry as  Investors are entrusting the safety of their investment to exchanges. From recent development, you can observe the exchange has gone beyond just holding Investors coins but now recommending what to invest in and what not to (AKA initial exchange offering). More power has been given to the exchange therefore as an enthusiast you have to understand, the security of your coins and choice of investment is a personal responsibility which shouldn't be assigned to any entity. Making security of fund you number priority goes beyond just safe guiding your coins in your personal wallet, it also involves been cautious of the exchanges you're patronizing and the level of private information you give out to this exchanges. Most individuals will argue that, this is the number habbit a cryptocurrency enthusiast should develop and they're not wrong as the benefits associated with this qualities is what will determine the success rate of been patience with the market.

3]: Be teachable: The moment an enthusiast feels he/she has gotten to a stage they're no longer teachable that's the moment that enthusiast is doom for failure. The cryptocurrency industry is constantly evolving (improving and growing). What might be the right decision today might become absolute tommorow. Staying updated with the latest trends in regards to security etc is a very important quality an enthusiast has to possess to enable profitablity from the industry in regards to not getting left behind while the industry continues to grow. e.g Back in the early days, participating in faucet would had been a good alternative to earn some bitcoin but currently they're a waste of time.

4]: Smartness: This quality us mostly for the short term profit seekers which might involve trying to outsmart the market by trading or capitalizing on new trends. Understand that this is quite a tricky quality to possess as sometimes your stupidity might be mistaken for smartness and unless you have the required skills and abilities to perfect this quality it's advisable you abstain from trying to leveraging on it. If you're interested in outsmarting the market then staying informed and been able to act smart should be a quality you should possess.

5]: Learn from experience: Be able to learn from experience is one of the most important qualities you should develop as a cryptocurrency enthusiast. There's nothing wrong in making mistakes but the inability to learn from those mistakes becomes a problem because it'll cost you, your opportunities to profit from the industry. If you made the mistake of chasing after the ICO hype and was unsuccessful then you didn't learn from that mistakes to improve on your investment decision making but decided to repeat same mistake by chasing after the IEO hype it simply means you aren't ready to learn from experience. Same goes for entrusting your funds to management sites which are just "scammers"  Ponzi operators disguise as "whatever they claim to be". Experience is rge best teacher therefore as a cryptocurrency enthusiast that intend benefiting frim the industry, been able understand the lessons taught by your mistakes should be a quality you should develop.

PS: Understand that the bitcoin and altcoin market works in different ways, while the bitcoin market works in cycle that can't be assured with the altcoin market in general since most of the current altcoins won't last long therefore while been patience is a quality you should develop while Investing in bitcoin, that can't be said with altcoins instead your smartness might play a part when it involves the trading approach.

Note: The numbering wasn't done in any specific order.


Additional qualities worth developing:

6]: Be skeptical: Most of the claims that you will read are misguided, unsupported, or just wishful thinking.

7]: Being firm in your belief along with patience is also important: I will try to explain this with an example:

Say a person bought bitcoin at a certain price and now the altcoins are going up while bitcoin is down. The person loses patience here because they were not firm on their belief of bitcoin's future. What happens is that because of the panic they buy altcoins, but this again the wrong move, because those coins are at all time high now. Very soon the price of altcoins come down and bitcoin goes up, but this person is now holding these altcoins and crying because they didnt firmly hold on to the bitcoins.

8]: Passion: If you are really passionate enough with what you are doing, then continue to acquire your goal.  I mean if you are being a crypto investor by heart, there is a positive outcome to become a successful crypto enthusiast.

9. Know when to move on: Many investors are left holding bars of shitcoins because they lost a little fund when an investment they made don't pan out, for example some people would invest in an ICO because the hype was massive and they know that there is likely to be huge returns but after the token is listed in an exchange, the token didn't meet expectations but they refused to just dump and move on even knowing fully well that the token has no utility and is basically a shitcoin but they just don't want to accept that loss and move on, so they keep holding until it gradually fades to nothing and they start regretting not dumping at the beginning when they would have retained a large chunk of their investments.

All of this can be very important actually considering the complexity of cryotptocurrency, you should atleast acquire most of this. One of the most importance I think is experience, it is the best teacher as the saying goes. You should learn from your mistakes to become a better investor. Smartness wouldn't be enough, you need to learn how to cope up with the changes and be strategic. The most of important actually I think is patience since things here takes a lot of time before you can gain rewards from it. Be mindful of these things always to be a better investor you are looking forward to.

[Savemore]

Patience is important but be sure that you are being patient in a project that will give you high returns. You will just waste your characteristics of being patient if you participate in a not good project where you will lose your money.

For me, it is knowledge that is the most significant factor. An investor must understand digital market, bits of blockchain technology and bitcoin in depth. No matter, even if pans to choose some altcoin, things wont make a whole lot of sense to him if he ignores bitcoin. This way, he will be able to choose the right coin, most probably bitcoin itself. Then he needs to show some patience and hold for a good duration.

Knowledge is very important because you cannot grow your funds and you may lose your capital if you do not have this. If we want to make profit then it is good if we will have knowledge that we can use to secure our capital and make profit. Right education can give us right knowledge, it is important to study in order to gain knowledge that we will use in the cryptocurrency market.

[Charles-Tim]

Patience is the key to success, if an investor is not patient, he will also be greedy and this can build a wrong mindset. Patience is one of the keys to success. It is also good because to be knowledgeable and learn from experience, this is a great tool to be used with diligence in achieving greater success.

[Smartvirus]

I'll like to add that you should be flexible and always watch out for new innovations and smarter ways of doing this as the cryptosphere is a highly dynamic environment coupled with a variety of scam and hacking techniques on the web.

[CryptopreneurBrainboss]

Probably you're trying to say, we should watch out for new ways of keeping our sensitive details safe as the space are filled with tricky ways of stealing our information. If you read the main OP you'll see a quality highlighted that said be skeptical, having this quality will prevent you from falling victim to any of the new ways introduced by scammers to either directly scam you of your funds or steal your sensitive information.

Patience is the key to success, if an investor is not patient, he will also be greedy and this can build a wrong mindset.

Isn't been patience associated with greediness? Aren't bitcoin holders address to be greedy Investors, some don't even sell irrespective of the spike in price and so far it has been profitable for them and the future also holds more profits to come. My advice of been patience mostly has to do with bitcoin and not them altcoins although there are few that could be worth your patience, just do your research properly.

[TheUltraElite]

Isn't been patience associated with greediness? Aren't bitcoin holders address to be greedy Investors, some don't even sell irrespective of the spike in price and so far it has been profitable for them and the future also holds more profits to come.

Patience is an important thing when it comes to entering and exiting not exiting alone. Some people lose money by buying at the top seeing the pumped up buzz from social media and getting the FOMO feel they do that.

So if you are eyeing an asset, keep patience to wait for it to dump. This may take years but eventually you might get a chance. Also building a portfolio in my opinion takes generations and if your next generation is willing to continue to build on your saved assets, give them the advice to watch those assets in case they never dipped in your lifetime.

That is a very long term and sustainable system to grow your money across generations.

But comparing patience to greed would a gross mistake in applying these terms. Greed is something that is a wrong emotion. Also if you think gaining a 10% is greed then you should not invest in risky assets at all. There is a thick line between being diligent and being greedy.

[jademaxsuy]

I'll like to add that you should be flexible and always watch out for new innovations and smarter ways of doing this as the cryptosphere is a highly dynamic environment coupled with a variety of scam and hacking techniques on the web.

Yes, scammers and hackers now were becoming innovative these days. They too know how to scam other users may it old school or new trick in scamming. Old school in scamming is still very effective knowing that it could get a number of users getting scam because they were just very creative that it could not be assess as scam activity.

Hacking is way too advance also for the average users. This mean that a hacker is a techie and most likely can be able to get a huge money for their talent and skills in hacking.

[Rikafip]

Patience is the key to success, if an investor is not patient, he will also be greedy and this can build a wrong mindset. Patience is one of the keys to success. It is also good because to be knowledgeable and learn from experience, this is a great tool to be used with diligence in achieving greater success.

Patience is a virtue especially if we are talking about investing in BTC (for example dollar cost average method, where you buy BTC constantly over longer period of time ) but when it comes to altcoins it can be a problem. In that case, patience will actually do more harm than good, as people often find it hard to cut their losses and move on. Instead, they hold for a too long, and in the end they become nothing more than a shitcoin bagholders.

[CryptopreneurBrainboss]

Isn't been patience associated with greediness? Aren't bitcoin holders address to be greedy Investors,

But comparing patience to greed would a gross mistake in applying these terms. Greed is something that is a wrong emotion.

Thanks for this indepth insight, took some time to Google each word differently and later compared them, got the message clearly couple with your writings. In my example above, instead of calling holders greedy investor, I think it'll be more appropriate to called them patient investors.

In summary one can say, 'In investing, patience is good while greediness is bad'. Been patient is a skill developed overtime while greediness is an emotion.

[pooya87]

In my example above, instead of calling holders greedy investor, I think it'll be more appropriate to called them patient investors.

when talking about patience in an investment one must also think about the investment itself.
i have seen so many people both on this forum and in real life that have "invested" in something worthless then waited for a long time for profit while calling that "patience".
in fact there was a popular trend mainly during 2018 and partly in 2019 when everyone was talking about patience, you can even find their topics in altcoin board. they were encouraging newbies to baghold their shitcoins, mainly ICO tokens, and not sell and were calling that "having patience". it is not greed nor is it patience, i call that stupidity.