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Ask Leo: When Can You Identify and Differentiate Between Patience & Greed In Crypto.

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The crypto space is a strategic space where every decision you make counts, your decisions can make you money, lose you money, make you grateful and make you wish you had waited for some time. Not just the crypto market though but when it comes to trading the digital market generally. In my opinion it can be confusing sometimes, you spend your time thinking you were patient, but unfortunately, you were only being greedy, then you try to be greedy, then you realize all you had to do was be patient.

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Legends in the crypto space said that if you can find a balance between being patient and being greedy then you have gotten 70% of the crypto hack. Initially I used to take 30% profit off my coin whenever am in profit just so I don’t end up regretting i took profit too early or too late. You know that moment when you bought a coin for $1 and it gains 100% profit and the coin is worth $2. This means that if you invested $100 into the coin, you now have $200, normally you can take profit, but you don’t know if the coin will keep going up to let’s say $6. What do you do?

Some people will suggest using DCA(Dollar Cost Averaging) just to be on a safer side to help balance patience and greed. This means that for every 10% spike you take a 3% profit just incase. This is my own opinion though. If your asset goes 600% then you have successfully taken 180% profit just incase the market dips, you can buy it back and have more coin token. I might be wrong in my own analysis though, you can share how you balance patience and greed with your crypto.

Yesterday I made my first Cake withdrawal after 7 months in cake staking, this is the reason I will recommend staking as one of the ways you can use to balance patience and greed in crypto. I staked about 17 Cake tokens on cubdefi using the cake kingdom vault. Yesterday I had 22 Cake in total, this means that I have been able to accrue 5 Cake token, although the price I bought those CAKE token were $20 but the current price is at $10. I withdrew 2 Cake tokens worth $20, I had an emergency I needed 2 CAKE tokens for, leaving me with 20 CAKE staked, which am sure that in the next 2 months will return the 2 unstaked CAKE tokens. Even though the value of my CAKE token is down, the quantity is still up. While waiting for the value to go up am experiencing patience and using the stake rewards to solve some of my money problems.

This is the power of crypto and defi, you can not always be in a total loss. Because of the unforeseen value of crypto, some people prefer to HODL for a long time, we have people that have been HODLing for 2 years and more, but how are they reaping the benefits of HODLing, they are either lending it or staking it. I try not to leave any of my tokens idle in my spot wallet, they have to work and make me some passive income while HODL till better days of taking huge profits and rewards.

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