In the crypto world, there’s a relentless pursuit of the next big opportunity, which dominates social media feeds and news headlines. Unfortunately, chasing every investment trend often leads investors to make impulsive decisions, and the results are often disastrous.
Thankfully, this can be avoided by embracing JOMO, which is the acronym for Joy Of Missing Out. Once they learn how to buy ethereum (or other digital asset), investors may have difficulty controlling their emotions – especially when they always hear the promise of unparalleled financial gains. While crypto can bring substantial profits, it shouldn’t be perceived as a one-way ticket to the moon.
After all, the assets tend to be very volatile, with their prices swinging wildly in a very short time, and there are no guarantees of getting rich when putting your money into a particular project. Finding peace of mind in such a chaotic landscape can seem like an elusive goal, but we’re here to tell you that it is actually possible to navigate the crypto world with greater tranquility and without succumbing to FOMO. Do you want to learn how? Keep reading!
Embracing a mindful approach when investing in crypto
FOMO can be extremely exhausting, and more often than not, it’s the reason why investors end up making bad choices. They buy cryptocurrencies at inflated prices or sell their assets too early because they want to lock in gains as quickly as possible. Or, they invest in a project which doesn’t really have long-term value or real-world use cases, which instead of helping them make more money, it leads to financial losses. While FOMO is a real issue in the crypto world, there’s good news: JOMO is an excellent solution to counter it, and it’s all about embracing an intentional approach when investing. The benefits of doing this are tremendous, helping you remain focused on your long-term goals and make decisions from a clearer perspective. JOMO makes investing much more enjoyable and fulfilling, as you no longer feel compelled to participate continuously on the market – instead, you can take a step back and relax, as you always remain focused on the bigger picture and your motivations for investing in the first place.
Now, it’s important to remember that shifting from FOMO to JOMO is by no means a piece of cake! In fact, it requires effort and time, and cultivation of self-awareness. It takes a lot of practice to stay calm in a volatile market like crypto. But it’s something you can achieve as long as you set an intention to do so.
Tips and tricks to find joy in missing out
Define your investment philosophy
Before you start investing, it’s essential to take the time to establish your goals, and values. What is it that you want to achieve at the end of this journey? Get really clear on your long-term aspirations, as this will help you find a sense of purpose when investing in crypto – which is more than necessary when achieving financial success. Besides, when you shift your focus to your long-term goals, missing out on short-term profits becomes irrelevant. Not every investment opportunity must be acted upon – profitable investors know this very well and thrive on patience. The best approach is to wait for the right opportunities that align with your long-term strategy that you’ve carefully planned after getting clear on your goals.
Curate your information diet
Following crypto news all the time can easily lead to a sense of urgency, making you believe that you are missing out on the opportunity of a lifetime. Obviously, this isn’t the case most of the time, and there will be another opportunity – perhaps one that aligns even better with your goals. However, it can be hard not to succumb to FOMO when you’re bombarded with so much information, so it’s best to reduce your exposure to social media platforms and schedule specific hours to check the news. Also, instead of checking every single headline, we recommend to get your information from trusted sources – quality over quantity is always better when it comes to making informed decisions, and it will ensure you won’t become overwhelmed when reading all those articles online.
Practice mindful investing
Do you know when investors are more susceptible to making bad decisions? When they become reactive to market noise, believing everything they read online is true. By implementing a mindful approach in investing, you will stay more grounded and no longer find yourself chasing after more, or get anxious about missing out on a trade. Not all is in your control, and missing out on an opportunity is a natural part of crypto investing. Once you bring mindfulness into your investing strategies, you can take a step back, conduct detailed research on different investment opportunities, and carefully study market dynamics, underlying technologies and potential risks before making a decision. Besides, you will learn to cultivate a sense of contentment for your current investments, and focus on what matters: developing a resilient investment portfolio.
Focus on your life outside investing
Investing is only a small part of your life, and by implementing JOMO, you can free yourself from price obsession and focus on the other areas of your life as well, such as hobbies and relationships. This will help you detach yourself from the outcome of investing while reducing the emotional impact of missed opportunities. Instead of striving for more, it can help to turn your attention to the present moment and remind yourself that success isn’t just about making profits, but also about following your strategy, learning from your mistakes and maintaining emotional wellbeing throughout this investing journey.
Unlock peace of mind when investing in crypto
In the fast-paced landscape of crypto investing, JOMO provides a solution to FOMO, which is responsible for investors’ bad decisions. By practicing mindful investing, having a clear vision, and building a life outside of investing, it’s possible to navigate the crypto market with greater resilience and confidence and make your financial dream a reality.
