Crypto Investing – Why FUD and FOMO May Be Your Worst Enemy
When it comes to investing in Cryptocurrencies or any type of DeFi option, FUD and FOMO are two of the most common sentiments among people intrigued about their options. David and I discuss some of the basics and how it compares to the birth and growth of the Internet over the past 3 decades.
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When it comes to crypto, I’m sure a lot of you have seen the acronyms FUD (Fear, Uncertainty, Doubt) and FOMO (Fear of Missing Out) mentioned in a variety of articles. None of them is new though since they’ve also been used in the past when referring to any type of speculative stock investment for a long time. Only now with Crypto’s growth and volatility in the news every day, both types of ‘fear’ have resurfaced stronger than ever.
As with any other type of investment, the key is researching and acquiring enough knowledge to understand the pros and cons of this relatively new asset class. But even more important, is the fact that no matter where you decide to invest your money, you need to be able to sleep well at night. Any investment that stresses you out and/or causes you sleepless nights is probably not good for you.
One thing is certain. No investment is 100% safe, and much less any investment in crypto assets. However, neither is any investment in fiat currencies subject to uncontrolled inflation, fluctuations in value, and government manipulation. Think of Decentralized Financing as a new way to complete transactions and a new asset class that it’s still in its infancy and with a lot of room to grow. The same FUD and FOMO was common when the Internet came into our lives three decades ago.
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