What is FOMO, the pitfall of Bitcoin investing? A detailed guide.

비트코인-투자-FOMO란-무엇인가?

"FOMO" (Fear of Missing Out), a frequently mentioned phenomenon in the cryptocurrency market, refers to the feeling of anxiety that others are making money while you're left behind. Today, we'll delve into the FOMO phenomenon that occurs in Bitcoin investment and how to overcome it.

FOMO: Why is it dangerous?

 

FOMO stands for "the feeling of not wanting to miss an opportunity." This feeling, experienced by many investors when Bitcoin prices surge, often leads to irrational investment decisions.

This sentiment becomes even stronger whenever I see stories on social media or in the news about people making huge profits with Bitcoin.

The main causes of FOMO

 

1. Media influence

  • These days, investment success stories are shared in real time through social media. Regrets like, "If only I had bought it yesterday..." further fuel FOMO.

2. Market Characteristics

  • Bitcoin's price volatility is extreme. Large price increases within a single day can trigger investor anxiety.

3. Psychological factors

  • No one wants to miss out on an investment opportunity. This feeling is especially strong when they hear stories of potential profits from those around them.

Representative risks of FOMO

 

1. Impulsive investment decisions

  • Rushing into investments without sufficient analysis
  • Investment decisions swayed by emotions
  • Investing an amount that is difficult to afford

2. Bad timing

  • Increased likelihood of buying at highs
  • Investments swayed by market sentiment
  • Contributes to bubble formation

How to Smartly Overcome FOMO

 

1. Establish investment principles

  • Set clear investment goals
  • Determining the amount of investment available
  • Setting a loss limit

2. Emotional control

  • Keep an investment journal
  • Calm market analysis
  • Maintain a long-term perspective

3. Sound investment habits

  • Regular installment purchases
  • portfolio diversification
  • Continue studying the market

Conclusion: How to Become a Smart Investor Who Overcomes FOMO

 

FOMO is a natural emotion anyone can experience when investing in Bitcoin. However, avoiding it and maintaining a cool-headed approach is key to successful investing.

Investing is a marathon, not a sprint. A wise investor should move forward at his own pace, step by step, without comparing himself to others.

🧳 TIP: Before making an investment decision, ask yourself, "Is this investment driven by FOMO?" Simply stopping for a moment and reflecting can help you avoid many mistakes.

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A Beginner's Guide to Bitcoin Investment

비트코인_초보자_투자가이드

As the cryptocurrency market continues to grow, interest in Bitcoin is on the rise. However, many people worry, "Isn't it too difficult?" or "Is it too late to start?" Today, we'll explore the basics of Bitcoin investment, step by step, for those of you who are concerned about these things.

What is Bitcoin?

 

Bitcoin was created in 2009 by an anonymous developer named Satoshi Nakamoto. The world's first cryptocurrencySimply put, Bitcoin is a digital currency that can be used online without any central bank or government control.

Based on blockchain technology, Bitcoin's entire transaction history is publicly recorded and verified, and once recorded, it cannot be altered. These characteristics enable secure and transparent transactions.

Why should you pay attention to Bitcoin now?

 

1. Active participation of institutional investors

 

Recently, major corporations like Tesla and MicroStrategy have begun holding Bitcoin as part of their assets. This signifies that Bitcoin is beginning to be recognized as a store of value, rather than simply a means of speculation.

2. Changes in the financial system

 

As traditional financial systems become digitized, Bitcoin is at the center of a new financial paradigm. In particular, its use is increasing in cross-border remittances and payment systems.

3. Improved accessibility

 

Buying and storing Bitcoin has become much easier than in the past. Many secure and easy-to-use exchanges have emerged, and mobile apps allow you to trade anytime, anywhere.

A Beginner's Guide to Bitcoin Investment

 

Before you start investing

 

While various circumstances are becoming more favorable for Bitcoin investment, there are still some things you should know before starting your Bitcoin investment journey. Let's explore them now.

1. Set the investment amount

 

  • Invest only the amount you can afford to lose.
  • It is best to start with a small amount at first.

2. Choose a safe exchange

 

  • Use a legitimate exchange registered with the government.
  • Choose an exchange with strong security certifications.

3. Manage wallet security

 

  • Setting up two-step authentication is required.
  • Make your password complex and change it regularly.

Start investing now

 

1. Exchange registration and authentication

 

  • Complete your ID and account verification.
  • Check your security settings carefully.

2. Deposit and Purchase

 

  • After depositing money into your account, purchase the desired amount of Bitcoin.
  • Understand and use the difference between market orders and limit orders.

3. Long-term investment strategy

 

  • Consider a lump sum investment plan where you invest a set amount of money regularly.
  • Avoid being swayed by short-term market volatility.

Investment Precautions

 

  • Investments must be made at your own discretion and risk.
  • Market prices can fluctuate dramatically, so managing your investment is important.
  • Don't blindly trust unverified information or investment advice.

In closing

 

Investing in Bitcoin may seem daunting at first. However, with a basic understanding and a safe approach, anyone can get started. Always keep in mind that investing carries risk, so develop an investment strategy that suits your circumstances and preferences.

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