Post
Topic
Board Economics
Re: Crypto: a place where everyone makes money, but few secure it
by
slapper
on 19/01/2024, 11:28:13 UTC
Experience without financial learning leads to huge losses. and I consider this also a reality, sometimes it tastes bitter and sweet. However, from what you wrote above, at least you need to have a good understanding of finances. As you said, it is recognized that the crypto space produces various characters and typicalities where we see many who achieve great success easily but still continue to fall into financial failure due to lack of knowledge.
Infact after aquiring wealth the person must have an understanding of financial education because getting money is one thing and managing the money is another area that is very important, otherwise the wealth will start to diminish until nothing will remain. Some people will sale their Bitcoin that they've been hodling for year in a bull run season, after cashing in on returns on years of investment, if they don't have a solid plan on what to do with all that money, they can spend it all on luxury items and partying, in the end if there's nothing else to fall back on financially they'll become poor. With financial education, the person will decide the percentage to use for enjoyment and luxury, then the rest has to be reinvested, so that the returns on investment will continue.
Yes, making money is one chapter, but managing it is another. Picture this: After winning Bitcoin, what's next? Your decision is crucial, friend.

Financial education is essential. Your financial future depends on post-windfall actions. The idea is simple but profound: some of your riches should fund your passions. However, the majority? That should boost your wealth. Not just saving, but smart reinvesting. Financial wellness relies on earning, enjoying, and reinvesting. A short-term thrill against a lifetime of financial security.