The investment world, especially Crypto trading, must have several terms that are foreign to the wider community. One such term is Crypto FOMO.
Many have made crypto investments because more and more are claiming that these investments are promising with lucrative profits.
This trend is happening in Indonesia and there are already many young people and millennial investors who are just getting into the Crypto trading business. So, not a few are FOMO towards Crypto investment.
But what is FOMO? For Vicigers who don't know, let's see the explanation below!
This time, VCGamers will discuss what Crypto FOMO is and the dangers of FOMO.
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Crypto FOMO Explained
Literally, FOMO means Fear of Missing Out. When translated, it means fear of missing something.
People who are FOMO mean they don't want to be left behind by trends and in the context of the investment world Crypto, it means that the community wants to get instant benefits because of FOMO.
Most FOMO people want to get instant profits because they see investors who get profits in Social Media.
They don't want to be left behind from the trend of the Crypto investment world, so they immediately jump into the investment world without being equipped with sufficient knowledge.
People who are FOMO have social pressure because they are tempted by profits and profits from investors who show it via social media.
Apart from that, there are also generations who are FOMO because if they don't follow trends they will be considered stupid or stupid.bullying.
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The dangers of FOMO
However, what are the dangers of FOMO in the context of the Crypto investment world? One of them is a big loss due to plunging into the world of investment due to lack of knowledge.
Many people invest without learning more about the world of Crypto and how to trade.
Like other trading activities, Crypto trading requires knowledge for the people who do it.
In addition, people who want to enter the world of trading or investing need to have an investment plan. For example, Vicigers must calculate the risk and reason for entering a certain price.
By pausing and asking logical questions, Vicigers can avoid FOMO as well as avoid excess losses.
The investment world is cruel enough for people who just want to join in. Maybe you will get a profit, but Crypto does not always provide profits.
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How to Avoid Crypto FOMO
For those Vicigers who fear FOMO, don't worry. Here are some ways to avoid FOMO and avoid losing out on trend following.
First, Vicigers must evaluate the Crypto assets that Vicigers wants to invest.
Vicigers should be familiar with the types of cryptocurrencies and how they work. For example, by visiting the official website and looking at the cryptocurrency trends.
Second, also find out the amount of service fees. Vicigers also have to pay attention to fees and spreads. To guarantee the safety of Crypto investments, choose a media exchange that has been registered at Bappebti.
Thus the discussion about Crypto FOMO and how to avoid it. For gaming needs, let's visit VC Market by VCGamers!