Why Are Crypto Traders Trading FOMO?

Let’s start this a bit academical, Crypto traders are trading FOMO? How? Why are crypto traders trading FOMO? What is FOMO? FOMO is an abbreviation for “fear of missing out“: a worrying feeling that you may miss exciting events that other people are going to, especially caused by things you see on social media.

You know how Fintech seems to be the reigning thing. It is almost like if you are not into Fintech, your life as a Tech Sis or Tech Bro is incomplete. You know that it is a lie right. That is FOMO and that is what crypto traders are doing.

FOMO means fear of missing out. They are traders and they must make a profit. They earn coins as the market moves and increases in volume. Also, as you come in to invest with and through them, profit is made. So, how will this happen if you don’t come in to buy? Or invest

The truth is, Cryptocurrency Traders don’t even have to do so much these days. Social Media, like in the definition, is enough to amplify it.

CRYPTO IS NOT A GET RICH SCHEME

The mistake you make is that you are beating yourself up over it. You didn’t buy BTC or ETH when it traded 1$ to a coin, or when it traded 1000$ to a coin. Neither did you trade when it was at 10,000. Why are you beating yourself up? Your life isn’t over yet. It is not 1 Million Dollars yet. There’s still a lot of catching up you can do.

Buy and hold long term. Study the market and know how it works. Don’t let traders capitalize on your fear of missing out. It’s not like if you decide to invest with them, the crypto is yours. Yes, you heard right. Not your keys, not your coins. Strangely, a lot of people making noise about it are out to rip you. In my opinion, legit traders will tutor you and show you how to invest properly. All without taking undue advantage of your desperation.

Just like a lot of people think Fintech is the only tech there is. No, you don’t have to trade crypto to be rich, you can always buy and hold long term. It is never too late. (Like they say in the crypto world, THIS IS NOT FINANCIAL ADVICE). It is not a get money quick scheme.

WHY ARE CRYPTO TRADERS TRADING FOMO?

Crypto traders trading FOMO is just a form of marketing and publicity. Publicity is a great way to make the crypto market move. Just like how you see traders putting out adverts for you to buy their wares. The same way they get you onboard to either trade yourself or invest with them. But, before you go in and trade with someone, a grand rule in crypto says, “NOT YOUR KEYS, NOT YOUR COINS”. Be very careful with whom you invest.

Also, a great way to deal with FOMO is to remember that Crypto traders will spend their money somewhere. They will buy food, buy clothes, build houses and it’s money they’ll use to pay. Either crypto coins or your country’s currency. Not everyone has to jump on the bandwagon of trading crypto. You can buy some coins and HODL long term. Nobody will beat you for it.

No, they are not wrong though because gbogbo wa la need la ti je breakfast. It is how they earn. They are cashing out from your cash. So, like I said buy and hold your coins long term.

Read Here: How I Lost To Money Doubling 1

Crypto is the future.

Crypto is here to stay. Well, maybe yes. But something new will still come out. You haven’t missed it in life. Stop crying and beating yourself up. Find your own forte.

Get on your trading platforms and buy it yourself. Although you’d still need a guide. Don’t go into the market shortsighted or blind.

Don’t let FOMO kill your mood.

So, do you know what FOMO is now? Do you understand what we mean by Crypto traders trading FOMO? Have you invested in crypto because of it? Do you think it’s a good or a bad thing? Please share your opinion in the comment section below.

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