Most crypto investors are what I would call amateurs as the knowledge they have is minimal at best.
I bumped into an old work colleague today who I haven't seen for a good 4 years. He started getting involved in crypto due to my involvement and was curious to aske him how he had progressed. He is an accountant so he is no dummy and should be good with figures.
The answer I was given was that he hasn't looked at his portfolio on Binance for 3 years and opened another account on another exchange back in 2021 and has lost almost half of that investment due to buying near the top.
Why should we not be surprised as he is clueless which I would say more than 50% n crypto can be labelled the same way. If you do not do any research then you are gambling and it is as simple as that. I then asked him what he has staked and he had no clue what I was talking about and you could see the panic over his face as if I was speaking another language.
Again it is attention to the detail and these are the basics we all take for granted as we have learned what we know by being involved. This maybe scary to think we are so far ahead of the average crypto investor if you could even call them investors, but they are as they have bought crypto.
Many are treating crypto like a stock or a share where you buy and wait for the right time to sell or a long term hold. Only a small percentage are actually making their crypto work for them as they have no idea what they are doing or what their options are.
This is kind of comforting and worrying at the same time that someone who is so educated yet can be so lazy not researching into their investment. I never mentioned what I am doing as he is not worthy of tips and above his pay grade as his crypto knowledge is zero. Not only that the time it would take to educate him would be hours if not days as the hope is this may wake him up a little.
I have noticed not just with this guy, but everyone else I know in crypto is they are waiting to be told what to do as once they buy in they don't know the next step. The last person I spoke to was taking notes and you could see he was trying to learn yet also on another wave length and how much he understood was questionable. I do think people are blown away by just how much knowledge we have and why we are starting to feel a little nerdy in discussions.
The crypto knowledge we have taught ourselves is not normal and in many ways we have become specialists. the 5 plus years have definitely not been wasted and was highlighted today on how far I have already come. When an investment becomes that important in your portfolio you do need to know more than just the basics as this is your future that you are dealing with. I would comfortably say I am a specialist in 3 crypto projects now and need a few more over the coming years.
