Psychological Tips For "Saving" Crypto.
Technically we may already know how to "save" through Crypto and Bitcoin, but it is also important to understand that psychological factors also play an important role. So, what are the psychological factors that can be strengthened before saving crypto?
#1 Conviction Is Key.
Without the conviction to play in the long term, we will tend to waver with short-term movements. That is why knowing what crypto and Bitcoin are in depth can be one of the factors to increase conviction.
#2 Don't Think About the Results.
Know that when our mindset is to save, we must have confidence and a long-term timeframe. Don't be tempted to move assets and make other plans because there are no significant results in the short term. Always have a long-term mindset.
#3 Focus and Consistency.
The hardest thing is to focus and be consistent. Always remember that this is a long-term game and it requires high endurance. There are some crypto exchanges that have an automatic DCA feature which allows automatic saving.
#4 Focus on increasing income, don't go all in.
The key factor of saving in any asset is to still have a large income. Also understand that any crypto asset even Bitcoin also has a very high risk. Before saving crypto always have an emergency fund for the next 6-12 months.