YOU HAVE TO BE A DIE HARD RISK TAKER TO EXCEL IN THE CRYPTO INDUSTRY

[candy69]

Although, cryptocurrency is very volatile, but you can still do it relatively safely. There are a few stable cryptocurrency, if you invest in those then you will be in a bit safe.

[pooya87]

i would mortgage my house over and over again to invest on dip BTC i bought for $5230.
This industry belongs to the braveheart and the die hard risk takers

there is big difference yet a small distance between taking risks and being stupid!

when it comes to investing, taking risks doesn't mean doing reckless things. it means using your head, analyzing everything, calculate the risks and rewards and then finally take a calculated risk.
what you suggest here is a reckless behavior not a wise choice and it is not risk taking. and it has nothing to do with your title either.

you have to ask yourself this: what if you took a mortgage on your house and bought bitcoin but then price went down and stayed there for a long time or even forever, would you be able to accept a huge loss on the money that wasn't even yours?

[Juggy777]

I don't quite agree that you need to be a die hard investor all you need to be a smart investor, risk is involved in all investments, this statement of yours is misleading you always just can't take risks and expect to get away with it, you need to invest smartly and have patience to, you just can't jump in hey I'll take big risk I'll make more money, you need to study it, time it.

[ce7mee]

This discussion will be helpful for the newbies in the crypto market.  It is very necessary to take risk and having control over it by keeping update of all the information about the investment, investing in portfolio and expanding it with profits gained and most importantly, always keeping patience with decision making when it is a bad time, making the right decision in the right moment and executing it properly, i assume.

[Nisharawal]

Yes thats right you need to be a hard risk taker in this cryptocurrency market because here the potential is really good and high compare to other trading markets like Stock market, Forex market, and commodity market. Here the volatile movements are seen often and inrder to gain some good returns you need to take some risk and take the trades accordingly and i would advise you to have contrarian approach trading where taking risk would gain you bigger returns as compare to other trading approaches.

[elemosho.crypto]

There are many blogger which trying to make good blog about these. But of these you get dilemma. So you should get experienced help too.

[DavidCallahan]

Risks have no doubt higher returns, but calculative risk is needed than sheer stupidity. Many people invested their lifetime savings on cryptos and lost everything. That's why taking calculated risk is very important.

[pinoyden]

Risks have no doubt higher returns, but calculative risk is needed than sheer stupidity. Many people invested their lifetime savings on cryptos and lost everything. That's why taking calculated risk is very important.

risk taker is totally different from being smart and wise . you should both need those three traits in order to become succesful in the industry of cryptos because if you only posses a single trait , i dont think you can go anywhere .

Not only on the field of cryptos but that can also be applicable in other areas or in real life .  much better if you can combine it with other good virtues such patience , hardwork , perseverance , optimistic , etc and so on .

[xena2]

Thanks for such helpful article. You have mentioned all the important traits necessary to be succeed as an investor. I too think it is very essential for crypto folks to keep in mind that this platform is quite volatile.

yes,  To become and excel in crypto industries,  one must know how to take risks and do or try different types of crypto investments.  and it indeed has a big chance of generating income.

[RBEP-RBC]

i would mortgage my house over and over again to invest on dip BTC i bought for $5230.
This industry belongs to the braveheart and the die hard risk takers

there is big difference yet a small distance between taking risks and being stupid!

when it comes to investing, taking risks doesn't mean doing reckless things. it means using your head, analyzing everything, calculate the risks and rewards and then finally take a calculated risk.
what you suggest here is a reckless behavior not a wise choice and it is not risk taking. and it has nothing to do with your title either.

you have to ask yourself this: what if you took a mortgage on your house and bought bitcoin but then price went down and stayed there for a long time or even forever, would you be able to accept a huge loss on the money that wasn't even yours?

This is the answer. Taking measured risks, knowing when to get in, when to get out, setting limits, stepping back and re-evaluating positions. Also remember survivorship bias. All those hardcore risk takers that crashed and burned aren't around and don't advertise their failures. There might be 5 for every hardcore winner that you hear about.

[talkbitcoin]

the risks you take in cryptocurrency market doesn't have to be high so you don't have to be a "die hard risk taker" as OP is trying to say.

for example by investing a reasonable amount (not all your life savings) in bitcoin while staying away from altcoins you can benefit from that investment while taking smaller risks.

of course when you want higher risks you go to altcoins and pay the price of that higher risk with bigger losses when they get dumped on you.

[Lorna111]

true because the crypto world cannot be predicted at all and the results of predictions are sometimes far from reality, therefore we must be prepared to accept the risk if something unexpected happens

 We have different style in crypto currency investment, you maybe right we need to take Risk in Investment, but i would say, it is better to be a sound mind investors or a wise investors than "One time Big time". Some expert say just play it by the way you wanted to play never take your Emotion to it, you may end up emotionally beat up if something happen in the market which is not favorable to your investment.

[TheClownSong]

I will take a risk that i can afford. Its high risk market and its much better for me to invest with money that i can afford to lose. But i do believe cryptocurrency is good investment in the future.

[Red-Apple]

these subjects are very delicate, you can easily be misled and do a completely wrong thing in the name of that subject. for example having "patience" is something that i see these days people misuse, and now "risks" is another one.
instead of being an irrational investor you need to start learning what real investors do. those that are currently rich from their investment journey not the gamblers that won the jackpot once. the chance of it happening again is 1 in a million.

[tutorroma]

To invest in the industry, you must assess your own risk tolerance. I don't recommend borrowing or mortgaging your own house to make investment. It will put you under great pressure, and every mature investor will not do that.

[Ava Duvall]

true because the crypto world cannot be predicted at all and the results of predictions are sometimes far from reality, therefore we must be prepared to accept the risk if something unexpected happens

sure predictions differ but it's rarely a massive difference because everything is calculated. and the risk will be there no matter what

[msbtrooper]

Risk Characteristics
Will Bates was very good with math and science. He felt he was wasting his time in his college classes. Society's message was that a college degree equaled success, but Will wanted to be able to take a different path to achievement. He had some basic characteristics of a risk taker.

Heightened expectations: This is when a manager has goals that can be unrealistic and unattainable to some, but which the risk taker feels very confident will occur. Will felt the drive to start his own technology business. The product was an advanced computer. He was determined to create the prototype himself and dropped out of college to complete the task. He did all the parts of the product development from design and operations to production and even marketing the final prototype. He eventually realized he needed a support team and hired a basic staff. He treated the staff professionally but demanded excellence.
Constant learning: This is when a manager refuses to rest on his or her past performance. They are always researching, testing and looking to learn. Will viewed life as a constant learning journey. He spent years developing his prototype and now constantly works on new technological improvements of his computer.
Embrace change: A manager who embraces change looks forward to a constant flux of new information and is always trying for improvements. Will was willing to quit college, while his friends were graduating and pursuing a career. He lived close to poverty to develop his computer. He was also willing to change his goals in regards to his company throughout its development. Lastly, he is constantly altering his company's product lines and introducing new technological gadgets.
Trust instincts: Many risk takers make decisions based on both intelligent data and a gut instinct. It's a feeling that they have regarding a decision. It usually isn't the safest decision or the most practical, but it can lead to great risk and success. When Will finished his first prototype, he invested all of his money into launching his business. If the business failed, he would have been destitute. Fortunately, his gut was correct, and his computer was a huge success.

Above are the characteristics one need to be a successful investor,  most folks on this platform need to know life itself is volatile,  non of us knows what will become of us in the next five hours,  i would mortgage my house over and over again to invest on dip BTC i bought for $5230.

This industry belongs to the braveheart and the die hard risk takers

This writes up is sure an eye opener. I was taught in school that the higher the risk you can take in life, the more likely you are to succeed in life. The first step towards making it in life is the level of risk you can take. Taking a risk in the world of cryptocurrency is really worth it because the volatility will surely bring profit in the long run.

[chidrawarster]

Yes, that the only way to excel in the crypto space.It all runs on pure prediction and no technicals work here ,its all volume based game and as long as the investors exist in the market ,that market remains strong and vice versa when the big players leave the market.So,I would always hold the positions instead panic and look for getting some enormous returns in the long run, this is how the crypto space works and will be also for years.

[munareal]

To excel in life one has to take the risk not just in the crypto currency space. The high the risk the higher the reward

[KennethDarnell]

It is true that without taking risks you can't be successful in crypto space but there is also a thin line between taking risks and stupidity, we need to understand that too. Many people invested their lifetime savings on cryptos and lost everything, which made them deal with depression on a regular basis. That's why taking calculated risk is very important.