Did you know that there are seven types of crypto bad investors that all struggle with patterns of deception in the crypto world? We are going to explore the 7 types of crypto investors and the patterns of deception. they fall prey to throughout their journey toward becoming an experienced and successful investor in the space.
Together we are going to learn how all 7 types of crypto investors can make a few small simple tweaks to evolve into the 8th type of investor, an ultimate performer in crypto investing to experience long term success with the least amount of work or stress.
So, let’s figure out which type of investor we currently are and how we can evolve together into a successful one. Lets find out what type of crypto investors we are.
7 TYPES OF CRYPTO INVESTORS: HOW TO EVOLVE TO SUCCEED
You may be thinking that these categories of deception are something external or outside of ourselves that we need to recognize and watch out for, When actually, they are internal or already inside of us in the form of.
Basically they are our natural tendencies we developed over time from where we grew up, what your parents told you, what your role models did, as well as our life experiences and how we perceived them.
So as we go through the 7 types of crypto investors and the patterns of deception they fall prey to as it relates to being an investor in the cryptocurrency space, keep in mind that these dont represent you or who you are.
These represent behavior patterns that we may currently act out, and once we recognize them, we can make an effort towards changing them into patterns that create success.
So let’s explore the 7 types of cryptocurrency investors.
TYPE 1 – 2 The VICTIM
The victim blames other people or blames external factors for their lack of success and the challenges they face. The victim as it relates to being a crypto investor blames their challenges or failures on situations like when exchanges go down, or their support tickets going unanswered.
They blame crypto influencers like BitBoy, Elliotrades, or myself for price predictions or mentioning projects that didn’t quite pan out, they blame Elon Musk tweets, They blame FUD, or fear uncertainty doubt in the media, or negative news about developments, hacks, or similar to explain why they aren’t experiencing success in crypto investing.
Essentially, the victim believes nothing is their fault and will come up with an endless amount of external excuses to justify why they are unsuccessful. Does this sound like someone you know? Are you thinking, gee this kinda sounds like me?
Well, if so, the good news is that it isn’t you, remember? Because these are just patterns we follow and they can be changed. The new pattern we should set in motion if we identify with the victim type is to start taking personal responsibility for any success or lack of success you experience in crypto.
In order to evolve into the ultimate performer in terms of crypto investing, tell yourself that you and you alone are responsible for making positive changes in your life that will help you realize an abundance of success in crypto investing.
THE RUT DWELLER
The Rut Dweller focuses mainly on how difficult things are, becomes overwhelmed, gets caught in a rut, and stays there for the most part. They lack motivation to learn, grow, and evolve and believe that a positive change won’t happen for them. The rut dweller as it relates to investing in crypto rarely even ends up investing in crypto in the first place.
They believe that they aren’t tech-savvy enough or smart enough to manage their own wealth and sit on the sidelines in their rut. If they get into crypto, they typically ask if they can send someone else money to buy crypto for them, which can create a tax nightmare at the very least or they could loose all the money from theft or user error.
If this behavior pattern sounds like you or someone you know, to take a step towards becoming the ultimate performer in crypto investing is to shift your focus from how hard it seems to invest in crypto over the long term, And focus more on taking one small step in the right direction.
TYPE 3 – THE CERTAINTY SEEKER
The certainty seeker needs to feel safe, needs guarantees, needs a crystal ball telling them exactly What’s going to happen and how it’s going to happen. And if life, much less crypto, was that predictable, we would all be extremely wealthy right about now.
So when dealing with something unknown, they lack confidence to step out of their comfort zone and into the unknown for fear of wasting their time or money.
These types of investors can’t get past the fact that cryptocurrency investing has no guarantees, that there is very little regulation, very little insurance investment options, no agreed upon no authority or school of thought they can reference,
And most of the people they do decide to consult with have been entrenched in traditional financial systems that have no idea what they’re talking about, usually in finance, much less crypto,they’re ill-informed, or flat out ignore the space altogether.
Certainty seekers also dislike the lack of hotlines they can call for help with certain processes and managing their wealth in these types of digital assets at large. If you or someone you know identifies with the certainty seeker behavior pattern,
the first step towards becoming the ultimate performer in crypto investing is by reminding yourself that there will always be uncertainty, a level of uncertainty when making a change. Stick with it and the results will come. Also, the more uncertainty, the more potential reward in crypto.
TYPE 4 – THE SUCCESS SEEKER
We all have experience with success seeking at some point in crypto. Success seekers are always looking for the next big thing. After starting something new, or investing in something new, if they dont experience results quickly enough, they change their plan, sell, and buy something else.
Success seekers lack discipline, focus, & commitment in crypto investing. Between natural dips in the market, transaction fees, and potential new projects failing for either natural or predatory reasons, their hasty actions cause their investments to dwindle.
They panic-sell when the market is red and greed-buy when the market is green. They will also turn to risky trading behavior like margin and leverage trading in an attempt to realize quick, big returns, which hardly ever pans out.
If this behavior pattern sounds like you or someone you know, in order to evolve into the ultimate performer in crypto investing, create a solid plan before starting, stick to it, and stay focused. Resist chasing the next new shiny coin because you will realize more long term success faster by staying committed versus prematurely pivoting in the crypto space.
TYPE 5- THE ESCAPIST
The Escapist tries to escape & hide challenges by delaying decision-making or by not admitting when they make a bad decision. They put their head in the sand and avoid what’s playing out in their lives.
These investors want to invest, but are too paralyzed to act and eventually regret waiting to get into the market. Then instead of acting, they just mull over whether or not they should just wait until the market corrects, and when it does, they still fail to act.
Or these investors buy in, but don’t do daily or weekly due diligence to keep up with the latest news affecting the markets or specific projects. Or they buy and don’t make strategic moves to take profits or keep up with news about hacks or projects and risk losing everything they initially invested.
If this behavior pattern sounds like you or someone you know, to take the first step towards becoming the ultimate performer in crypto investing, you need to believe in yourself and your ability to make decisions, and accept when you’ve made bad ones.
A failure doesn’t mean you are a failure, it just means that its time to assess the situation and make a new decision. Don’t stop just because something went wrong. When things go wrong, make another decision and maintain the momentum.
TYPE 6 – THE PRETENDER
The Pretender does exactly how it sounds: pretends everything is just fine and everything is under control, even if everything is falling apart. They put on a show and front as if everything is going extremely well to avoid criticism or loss of respect from others.
These investors put on a ruse that their investment portfolio is performing well when it may actually be in shambles. They may follow the news, do due diligence on new promising projects, and have some strategies in place, however their portfolio isn’t performing, and instead of focusing on trying to fix it, they front as if it’s doing well.
They show people ONLY what they WANT them to see by cherry picking or downright manufacturing details.bIf this sounds like you or someone you know,the first step towards becoming the ultimate performer in crypto investing is by recognizing that you have to love who you are and know that you are worthy, regardless of how your magic internet coin portfolio is performing on any given day.
Know that you are an early investor in an extremely promising sector, and in the end, we all gonna make it. Ditch the pony show and be yourself because you’re unique and you are awesome. Own that feeling.
TYPE 7 – THE STRESSED ACHIEVER
The stressed achiever becomes obsessed with the end goal to the point where they sacrifice their own wellbeing to try and achieve it. And when they do achieve their goals, they aren’t satisfied and move on to the next goal. A stressed achiever in crypto investing constantly checks the market 24/7, loses sleep over volatility, and is constantly scouring the internet for the next investment opportunity.
Although they may achieve their investment goals and make profits, it’s never enough and they always want more. This behavior increases their risk of falling prey to a scam, engaging in margin or leverage trading, and leads to other risky activities that could wipe out all of their realized gains.
If you or someone you know exhibits behavior patterns of a stressed achiever, in order to take the first step towards becoming the ultimate performer in crypto investing you need to learn to enjoy the journey and focus more on growth and not so much the end goal.
The crypto investment process should create happiness along the way, and should not be about achieving an end goal in exchange for happiness. Appreciate small wins & failures along the way, as well as any failures you may learn from.
So what types of behavior patterns is the ultimate performer? in the crypto investing exhibit? Let’s check it out. So now that we are aware of the 7 deception patterns that crypto investors may follow, our goal is to shift our focus away from how we normally think, behave, and react to situations.
In crypto investing, an ultimate performer focuses on their journey towards becoming a more sophisticated & knowledgeable investor. This journey is taken at a nice, easy pace that allows them to enjoy the process and revel in small accomplishments along the way.
When they encounter an obstacle or challenge, instead of getting frustrated, feeling inadequate, giving up, or lying about their investments performance, they adopt a more curious attitude and take a neutral assessment of the situation to figure out how to proceed.
An ultimate performer remains conscious about how they respond to both negative and positive investment outcomes. The growing process involves a mix of pleasure and pain at times, and they understand this is natural and at the end of the day, progress is being made.
Each and every day we all learn new things in crypto. This is an extremely new sector of technology that involves some level of knowledge about finance, economics, politics, regulations, science, mathematics, etcetera.
So let’s all focus on learning a little bit day by day, and eventually over time, the knowledge will compound, and WAGMI, fam. Stay positive, keep an upbeat, curious attitude,
and let’s all achieve an abundance of wealth in this once in a lifetime opportunity we have right now with cryptocurrency investments. Thank you so much for taking the time to read this article. If you enjoyed the content, please make sure to share this article to your friends and family.
So did you find the explanations of the 7 categories of deception helpful? Which type of crypto investor are you currently? What steps do you need to take to work towards becoming an ultimate performer? Let me know in the comments below.