Crisis Management In the crypto space

*So far so good, we all have one or two experiences with crises in our lives, it might be a family crisis, emotional crisis, financial crisis, health crisis, and many more. But what matters most is the ability to stand strong during those times of crisis, seek solutions to the problems that surface, and overcome those critical times.*

The crypto world is someplace I can call the home of crisis, because if you want to take any step you have to be extra careful about the step you are about to take. You will get advice but you will also be told it’s not financial advice. So it's left to you to face the results of your actions.

Crypto is volatile, DYOR before venturing into any project or before buying any token. Do not FOMO or else you might end up buying the top and selling the dip. So where else do you think a crisis should erupt from if not the crypto space?

My bad experience with the crypto crisis

There was a time when I got an airdrop of a token, I didn't even know much about the crypto space then. It was around this bullish market era. If care is not taken you will get confused even by your mentor. So I had to try learning on my own, which was very hard to get. In crypto, you need to learn from others. It's either you are learning from others' experiences or you are the experience people would learn from.

I got the airdrop and when it was time to sell my tokens, I never knew it was a token airdropped on the Binance chain, and I would be using my BNB as a gas fee. I had some BNB in my wallet and also ETH that could make the transaction go to Binance.

It was clearly stated in Binance for me to choose the network I would be transacting with, I wasn’t certain so I chose the ETHEREUM network. I made the transaction and never got it in my Binance wallet. I had to make a lot of complaints but I never got a satisfactory response till a time when they launched another project. Then I read the white paper before I realized it was launched on Binance networks and not on Ethereum. I lost all of that asset and it's worth it.

In conclusion

Crisis is bound to happen, it might come by mistake or sometimes comes as a result of trusting a fake project. An example is the Wakanda shitcion and some other shitcoin projects like Safemoon, and Pig coin, that came up during the last bull run. I still have some rugged balance in my wallet after I bought them with a lot of money. Some even lost liquidity to trade.

_{Image is mine; All are rugged tokens in my wallet}

A lot of people dived in and got rugged from it. So from my perspective, I believe crisis management is something that requires knowledge and also playing wise and safe when embarking on any project. There is time to opt in and opt-out.