At this point, you’ve almost certainly heard of the cryptocurrency industry and all the amazing assets within it. These include tokens of many different niches, and it has proven to be very profitable over the years. Not only was Bitcoin named the highest performing asset of the 2010s, but it has recently crossed the 120,000 dollar mark as an all-time price high.
With that in mind, many people are considering beginning their journey in the crypto industry. What you should know is that starting your crypto journey sooner rather than later offers a myriad of benefits.
Early Access To Promising Tokens
One of the first and most obvious benefits of having an early crypto journey is that you can get in on very valuable tokens before anyone else. When people look back with nostalgia at the Bitcoin market, it is often for the earliest days. It’s been talked about online how you could have become a millionaire a hundred times over if you had invested in Bitcoin in 2011. While there’s no time machine to go back and buy Bitcoin when it was only a dollar, many new tokens are following the same trajectory. By starting your crypto journey early, there is a higher chance that you can invest in a promising project before it takes off.
If you invest in certain assets early, you could go on to see your profits increased a thousandfold. In fact, the market has shown that early investors gain access to assets at certain prices that will never be seen again. As such, you should certainly look into early crypto investment. The good news is that there are a myriad of auctions to help you along your journey. If you’re ever confused about which cryptocurrency to invest in, you can look at the many articles written to guide you, such as the one from CoinSpeaker (Source: https://www.coinspeaker.com/guides/best-crypto-to-buy/).
Learning The Pitfalls
Another benefit to starting your crypto journey early is that you get to learn the various pitfalls of the industry. As much as cryptocurrency is valuable and profitable, it is not without its issues. Specifically, the industry has to deal with market volatility, pump-and-dump schemes, rug pools, on the performing projects, and so on. Like any other asset market, dealing with these various issues is a matter of time. Anyone who has been in the crypto industry long enough has come across some of these issues and has enough experience to know how to deal with them.
If you’ve been investing in crypto for 10 years, you can likely spot a rug pull a mile away and also know how long a market winter will likely last. There’s a certain level of grit and discernment you develop by having an early crypto journey, and this is certainly a reason to get involved in the industry sooner rather than later.
Trying Different Asset Types
Having an early crypto journey also means you’re more likely to explore different types of crypto and crypto-adjective assets. If you’d got involved in cryptocurrency years ago, you would have likely seen the NFT boom and might have invested in such assets. You would have also seen the use of cryptocurrency in the gaming sector, decentralized finance, and much more.
By getting involved early, you can witness certain important periods in the cryptocurrency cycle and take advantage of them.
HODLing
One of the most common investment tactics within cryptocurrency is the concept of huddling. This means ‘Holding on for Dear Life’ and is a situation where an investor locks away their tokens for a period of months, if not years, waiting for a price spike. An example of this would be buying a token for a dollar, locking it away with the intention of unlocking it in five to ten years when the price would have reached a hundred dollars. But HODLing, as the name would suggest, takes time.
Hardcore HODL enthusiasts will hold on to a token for a decade, and this means that it is most accessible to those who enter the market early. If you have any intentions to HODL, you might want to begin your crypto journey early. This is especially true if you plan to use your crypto profits for retirement, housing payments, or any other expense in the future. HODLing means that you can go through the motions of the market as needed and hopefully, reap a profit on your investment.
The same principle applies to staking. Staking means locking away a token based on the proof-of-stake consensus and accruing interest on it. Staking is more profitable the more tokens you put away and the longer you keep them locked up for. If you plan to make your crypto fortune via staking, you might want to get in on the market early and begin the process.
Finding Community
As a crypto investor, you want to find as much community as you can. These will help you identify promising investment opportunities, become aware of scams, or simply have people to go along the journey with you. Finding the right community can be tricky and oftentimes requires some time investment. This is once again where early crypto journeys come in, as by starting off on time, you can refine your community of fellow investors over the years and truly find those with whom you connect.
Conclusion
In the crypto industry, starting off your journey on time offers a myriad of benefits. As we highlighted in this article, starting our journey on time means that you can take advantage of promising tokens before they blow up, can find your true community, can explore various options, and so on. Make sure to begin your cryptocurrency journey as soon as possible with the right knowledge and attitude. With those by your side, you will reap the rewards.
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