Limit the Information Intake

Fewer than fifty will yield meaningful returns for you out of thousands of cryptocurrencies. Even with a team of investment analysts at your disposal, it is easy to be overwhelmed with crypto research. It gets even easier to miss gems when you are yet to define criteria that align with your investment goals. Are you comparing assets by their market cap? Do you consider their overall return on investment? Perhaps the number of active trades and volumes are your preferred metrics. These are but three more factors to consider before putting your money into a digital asset class.

Extending these criteria even to 100 digital assets is a lot of work. It’s therefore helpful to limit the information intake you’re doing so that you can develop a better or more in-depth understanding of a crypto asset.

Alternate your research from written content to include physical breaks such as walking. A physical break can refresh your mind, which at one point will need such breaks. A constant barrage of information past a certain point will have a negative effect. This happens especially when things like brain fog begin to cloud your thoughts. Furthermore, it’s easier to make errors in judgment, and being counterproductive will only make your work harder.

For variety’s sake, include documentaries, podcasts, and other forms of interactive conversation. These avenues depend on your learning needs, as well as your preferred way of interacting with information. Research that you consider fun or engaging will be easier to follow through than a method that’s monotonous.

In the early days of crypto assets, there were less than a hundred types of cryptocurrencies. Since that time, some cryptos have all but disappeared while others came into being. Of the thousands there, similar types exist. There are, for example, utility coins, stablecoins, decentralized application projects, and different types of DeFi (decentralized finance) tokens. You can choose to study DeFi tokens over a month or two. In the next learning period, you can focus on utility coins. Since the foundational principles are similar, you can further choose three assets to follow.

You will be better off studying three assets under an asset category than trying to guess which one to start with. While the current market price is a general place to start, the overall asset type is better. In the crypto space, you will come across a lot of guides and recommendations. It’s ultimately important for you to have a few personal guidelines that you understand to help in your decision-making process as you learn to invest in crypto.

Knowing these strategies will help you manage risks, but won’t eliminate mistakes. Some mistakes will be costly in your journey, but be sure to have a long-term view of your learning and investment growth. Being able to grow through different goals and milestones as an investor, is, after all, what this journey is about.