Learn To Think For Yourself In The Crypto Space

Being brand new to the crypto space can bring in some intense emotions. Fear of missing out on making money, jealousy of all the people bragging about how much money they’ve made, uncertainty about who to trust or what coin to buy, and much more. If I were to sit here and list every type of emotion and why you might feel it, this article would never end.

The reality is, when you are extremely emotional, you help others make money. Yes, that’s correct. I know it might sound upsetting, but many of these big “influencers” you see on YouTube and Twitter, make money on you blindly following them. Big exchanges and mainstream crypto media follow the same playbook as well. They all make money off of you losing money!

Big YouTubers are paid to promote coins, or given a position in a coin before they promote it to their audience. Then, as their audience buys into the coin, they sell, literally taking money from the people who trust them. These big influencers will provide you with good information, maybe it’s crypto news updates, or security tips for your crypto. You start to trust them, you consider them the expert, then all of a sudden, they dishonestly promote something they are an insider on, and steal your money. Then, two weeks later, they might do the same thing again!

Big crypto media websites do the same thing. These websites often post articles promoting things that they are sponsored by or have big holdings of. The article will come across as if the author is genuine and thinks this project could be the next big thing. Then, in tiny letters at the bottom of the article, there might be a little disclaimer that says “Oh, by the way, this is a paid sponsorship.” These news sites have funders that want new and emotional people to come and “pump their bags.” The crypto media circus and influencer circle is essentially one big “pay to play” circle of the insiders winning, and the unsuspecting new investors getting fed into the meat grinder.

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If you read my last article “Get Off of Centralized Exchanges, Start Using Decentralized Exchanges,” I mentioned how centralized exchanges may refuse to list a cryptocurrency if it doesn’t meet their “requirements.” Usually, these requirements involve giving the centralized exchange a large position in the coin that is listed. This way, when people buy into a new coin listing, the exchange can instantly sell and make a profit off the back of unsuspecting investors.

Another important thing to understand about centralized exchanges is that the more you trade in and out of different coins, the more money they make. Constant trading in and out of different coins is often a sign of someone who is thinking more with their emotions than with rational thought and logic. A centralized exchange is incentivized to encourage you to make bad decisions. The more bad decisions you make, the more money goes out of your pocket and into theirs.

The crypto space is ruthless, dishonorable influencers, media outlets, and centralized exchanges thrive off a business model that takes from the poor and gives to the rich. If you put your decisions in the hands of these three entities, you will be chewed up and spit out. The best thing you can do is understand the game that is played in this space, and learn to think for yourself.

My goal as a crypto educator is to give people the skills to think critically and make their own well thought out decisions. Many new people come to me and ask me exactly what they should do, or how high a coin is going to go. These types of questions are very often signs to me that this person is being led by their emotions and is somewhat confused and lost. Don’t get me wrong, that was me when I first got into crypto too, so there is no judgment for being new, uncertain, and confused when you first enter the crypto space.

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Hopefully, if you are a new person and are feeling somewhat confused or lost, I hope this article has helped open your eyes to what is really going on in the crypto space. Check out my other articles here on nopermissions.com as well as my links below to continue your journey on learning to be a sovereign individual in this confusing and fast moving space.

Ben DuBard

To see more of Ben’s content, follow the links below.

YouTube: https://www.youtube.com/@BenDuBard

Twitter: https://twitter.com/BenDuBard

LinkedIn: https://www.linkedin.com/in/ben-dubard-70960324a/

Website: https://bendubard.com/

Course: https://www.atozcryptocourse.com/