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Five misbeliefs about crypto trading debunked

Yayın RAIN EDITORIAL TEAM - May 09, 7:00 PM

Crypto trading is a vivid area within the financial world, offering unmatched excitement and countless opportunities for investors of all kinds. Still, there are numerous misbeliefs out there about crypto trading that simply couldn’t be further from reality, yet scare many potential traders away. In this article, we’ll debunk five of the most common ones, and explain why you shouldn’t worry about them when starting out.

 Why misbeliefs are harmful

Misbeliefs are actually preventing a great number of individuals from securing their fair share of the crypto market. Most of them don’t actually aim to help candidates in deciding whether to start trading, but rather want to manipulate them into not weighing the pros and cons in an objective manner and make up their minds based on someone else’s experience. 

To avoid such a scenario is the very reason why it is vital to understand and spot when a statement or idiom is truly a misbelief, and how so. Without further ado, let’s see the top five misbeliefs about crypto trading.

1.Crypto trading is just gambling

Gambling is when players simply play the game of odds, and nothing more. In other words, it’s simple betting without using qualitative knowledge to players’ advantage. The problem with this misbelief is that it actually uses gambling and risk interchangeably, while they are two very different things in reality. Crypto trading carries a certain level of risk, but it is definitely not gambling. When done right, crypto trading is much more than simply betting on the statistical odds; it is a combination of knowledge, gut feeling, price analysis, and many other factors. 

2.One either becomes a millionaire or broke when trading crypto

Sounds catchy, right? That is the very reason many tend to notice and believe it. However, this statement is not true in the vast majority of cases. The simple reason is that investors often have realistic expectations, make educated decisions, and recognize when it’s time to get out of trades before they go to the millions, or plummet to the zeros. 

3.Crypto trading requires deep technical knowledge

While it is proven that education about crypto assets can have a positive impact on results, getting started with crypto trading does not require deep technical knowledge. In fact, with a platform like Rain, trading crypto is as easy as a few clicks on your computer or smartphone.

4.Investing in crypto assets is only great short term

It is true that investing in crypto can produce gains even on a daily or weekly basis, it is surely not the only goal traders can aim for. In fact, many actually regard crypto as the go-to asset class for establishing a long term retirement fund, or saving for a down payment on a property. Overall, if you’re looking to profit in the long run, crypto could be the right choice for you.

5.Profit in your first six months, or quit crypto trading outright

Succeeding from the get-go is not impossible, but it is no standard practice, either. Most beginner crypto traders actually break even, or sometimes even lose a small part of their account during their first six months, and only start turning a profit consistently afterwards. Knowing this should give you comfort and courage not to quit after the first few failures, which will likely result in eventual success.

There you have it, the five most common misbeliefs about crypto trading, and the reasons why they are wrong. Next time when you encounter one of these, or something along these lines, remember to have a critical approach to their message, and question whether they are really trying to help you, or they simply want to scare you away from taking a step towards the future you desire.

Rain, Bahreyn Merkez Bankası tarafından Kategori 3 Kripto Varlık Hizmetleri Sağlayıcısı olarak lisansını almıştır. Merkezimiz Bahreyn Krallığı'nda bulunmaktadır.

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