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How to Avoid Crypto Investment FOMO?

Navigasi - Currently, there are many investment instruments that Indonesians can choose and enjoy. However, many people do not understand an asset so that it is a loss even by fraudulent investments.

How to Avoid Crypto Investment FOMO?
How to Avoid Crypto Investment FOMO?

Not to mention that there are currently many influencers circulating who provide investment advice or an offer for stocks, cryptocurrencies, bonds, and other assets with the aim of attracting more people.

Responding to the many influencers who offer investment assets, observer as well as trader, Desmond Wira said that people should do their own analysis, whether the investment is suitable for them or not. Information from influencers should be considered as input only.

"No more than that. By doing our own analysis, we can avoid unwanted things," said Desmond

In addition, Desmond said, the community needs to apply the mindset: There's no free lunch or no free lunch.

"Everything that an influencer promotes has something behind it. Either he gets paid or he wants something in return for himself," said Desmond.

Therefore, people need to be careful when choosing investments promoted by influencers.

Things to Look For When Choosing a Crypto Investment

Things to consider before choosing crypto as an investment Crypto assets have recently become one of the investment instruments that are in great demand by the public. Even according to data from the Commodity Futures Trading Regulatory Agency (CoFTRA), the number of crypto investors is more than the capital market. Desmond said there are several things that need to be considered by the public before choosing crypto as an investment instrument. The public needs to be aware that cryptocurrencies are very high risk. “I don't think crypto is worth investing in because it's volatile, easy to manipulate and vulnerable to cybercrime. In my view, crypto is more for speculation, not investment. For safer investments, it's better to go to bonds or the stock market,” said Desmond.

However, according to him, if people still want to invest in crypto assets, it is recommended to use a minimum amount of funds and use cold money, so that even if the crypto fails later, it will not interfere with personal or family finances.

How to Avoid Crypto Investment FOMO

It is undeniable that the increasing number of crypto investors, makes many people want to try investing in crypto, but not because of their own desires but only to join in. Until finally causing Fear of Missing Out or FOMO.

In order to avoid FOMO in crypto investment, Desmond said that there are two things that people need to do to avoid FOMO in investing in crypto.

"First, you must have an investment plan. This will be your guide in making investment decisions, whether you can enter the market or not," said Desmond.

As for the second thing, psychologically, as difficult as possible, people must be able to stop and ask themselves if they want to enter the market.

“For example, why did I enter at this price? Is this in accordance with the investment plan that has been made? What are the risks? By stopping for a moment and asking yourself questions, you can let your logical thinking work and the decisions you make are more objective than just FOMO or jumping on the bandwagon because you see prices going up high,” concluded Desmond.