Crypto currency and Bitcoins are a big hype topic, but very few people can do anything with them. But invest can be learned with financial kung fu in 6 steps.
- Cryptocurrency & financial investments: skepticism out of ignorance
- Financial kung fu: 6 learning steps in dealing with cryptocurrency and bitcoins
- 1. Deal with the topic
- 2. Well prepared in difficult times
- 3. Proceed with a plan and goal
- 4. Find the right consultant
- 5. Learn to deal with unforeseen events
- 6. Don't jump on any hype
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Cryptocurrency & financial investments: skepticism out of ignorance
The European Central Bank (ECB) holds the Base rate remains low. That tempts many to follow Alternatives to see. There are plenty of them, but as always, you can never have everything. There are safe investments, but they yield little profit. And there are riskier investments, which, however, promise high profit margins. These latter undoubtedly include bitcoins and cryptocurrencies.
But where do you start with Finance to deal with? For many People financial issues are a complex book with seven seals and the fears are correspondingly great. That was also the case for me. The stock exchange but also the topic of cryptocurrency is therefore more in fashion, especially in Germany negative occupied. Savings accounts and insurance are those favorite forms of investment by Germans. However, this is often due to complete ignorance. Because savings are by no means like that due to the inflation rate for sure how many believe.
Financial kung fu: 6 learning steps in dealing with cryptocurrency and bitcoins
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So it is actually necessary to deal with financial topics in general and cryptocurrencies in particular. However, this not only requires a lot of effort but also Courageto leave your own comfort zone. But it can be worth it.
The procedure reminds me a little of what it's like to want to learn a martial arts: At first you're overwhelmed, but then you gradually encourage it self-confidence and you work your way up step by step. From my own personal experience I have developed the financial kung fu with the following 6 tips so that you avoid recurring mistakes when investing.
1. Deal with the topic
Are you thinking about taking a self-defense course? Would you like to boost your self-confidence because you sometimes lack a bit of it? But are you still thinking about which martial arts course could be the right one for you? It's about the same with finance: more and more people are interested in bitcoins and others Online Currencies and it seems as if many are distancing themselves from banks and increasingly switching to online trading.
If you were to take a self-defense course, it would not only boost your self-confidence, but also your concentration and balance. If you are more concerned with financial issues, you can assets increase. You may be familiar with the situation where the bitcoin suddenly shoots up, or at least it seems as if it is going to do so. Perhaps you have already bought and are therefore one of the lucky beneficiaries. Now you can try to stay the course, always watch it closely, but be sure to get out if the situation becomes too risky.
2. Well prepared in difficult times
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Even if the training is certainly hard, the advantages of martial arts techniques are obvious: It is reassuring to know that you can defend and defend yourself in a possible dangerous situation if you have to. So if you are in an emergency and it really matters, then you are well prepared for it and need no longer have any concerns.
Problems you can also get with bitcoin investment: Because on the financial markets it can be very fast Situations arise that change rapidly. But what is the best thing to do when you realize that the situation has changed drastically? And changed to the negative? The hands Laying in your lap and waiting doesn't help, now you need to act. And when you have acquired the relevant prior knowledge, you will also know what to do.
3. Proceed with a plan and goal
In martial arts you learn to become more concentrated and more efficient and how to best defend yourself. Take Kung Fu, for example: The name also stands for the fact that something was achieved with very patient and hard work.
It's the same with me Investments: Make sure you always trade with a precise plan! A possible option for this would be, for example, that you consider a target and thus determine when the time has come to get out again. You will definitely get off the train sometimes too early, yes, but you are definitely less likely to jump off the train too late.
You should always be aware of potential gains and losses Eye keep. Pay attention not only to the exchange value, but also to the fees. So you always have an overview of the development of your credit. It's always the same useful to look at the different time windows when trading with bitcoins. Be sure to get a long-term picture of the development. And very important: Do not use more money than you verlieren could!
4. Find the right consultant
Nowadays there are already many martial arts schools or trainers who can help you with the training. But as in all other areas, you first have to find the right one that will suit you Fun imparted to this martial art and lets you dive completely.
There are also countless financial advisors and bitcoin traders, which can help you stick to your investment plan. In principle, however, no one can really say for sure which investment is really the one you are hoping for wealth will bring - and which leads to losses. Unfortunately, the basis of your investment is always an assumption! However, an assumption can be very well founded if it is based on a profound financial analysis. So be careful who you take advice from and read as much information as possible.
5. Learn to deal with unforeseen events
In martial arts you learn to defend yourself better and how to react correctly in serious situations. They also promote your motor skills, your self-confidence and you will also become much more balanced. Also more self-confidence Discipline and Respect im Everyday life are factors you will experience when you practice a martial art. It all helps with unforeseen situations clear get.
It is very similar with financial topics: How does the vernacular say? "You only have to lose money if you want to make money." Even the best and most careful analysis cannot do anything against sudden events, but this statement is absolutely true. No matter how precise you are and maybe you have basically assessed the situation correctly, sometimes things just turn out differently than you think. Unexpected situations can always and without exception occur, whether you want it or not.
6. Don't jump on any hype
The demand for martial arts courses has increased extremely recently. This sport with a large and long tradition, especially in East Asia, has become more and more established with us in recent years. Many celebrities also train corresponding courses. And everyone wants to learn martial arts.
It is similar with cryptocurrencies and bitcoins: everyone is talking about it and everyone wants to participate. But that contains that Risksto use more money than you actually have. Do not do that! In some trading guides you can read that you never own more than 2% of your own money should put into trading. Many take a more relaxed view of this, but it makes a difference if you stick to stricter guidelines. Please don't make the mistake of the so-called "bull run". Don't assume that your portfolio could grow a little more before the payout. It is better to always set smaller milestones. Always keep a close eye on your money! Your bank account will thank you.
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