Different Types of Crypto People
In the crypto world, just like any other, users come in all shapes and sizes. These people go down interesting paths that lead them to be really good or really bad. Some of them you can try to emulate, and some are a big no-no if you want to stay sane in this industry.
This article is going to shine a light on these people and help you determine what kind of crypto user you are or want to be. Keep reading, and you’ll see that even in the crypto space, stereotypes have emerged.
Let’s dive in! 🌊
The Degen
First off is the Degen, short for degenerate. Now, you might think the title is quite harsh, but when you find out how they operate, you won’t feel bad for them. Degen trading is when a trader trades without due diligence and research, instead aping into trends and pumping recklessly. A degen trader buys into an asset not because they see the potential value, rather, they do so with the belief that others will join in after them and speculate on the price swings.
A degen trader does care about metrics like FDV or TVL, they simply hop into a trend for no particular reason other than FOMO. It could be that they think the logo looks cute, or because the art style is cool, or because some famous person on the internet says it’s something they’re bullish on. Either way, a degen always falls into scams with very few wins here and there.
Don’t be like Chad, DYOR 😎
The Guy Who Gets Rug Pulled (aka The Unlucky One)
If you haven’t experienced rug pulling, here’s a description of how it feels. Imagine going in for surgery and waking up only to realize that one of your kidneys has been stolen. Maybe that’s a bit grim, but you get the point.
People rarely get rug pulled, but unfortunately, some experience it way more than they should. This person has a genuine interest in the crypto space and has high hopes for it, but unfortunately, it cares very little about them. Somehow they are always at the wrong place at the wrong time, and the brunt of the crypto failures usually comes crashing on them.
The Day Trader
The day trader started speculating in crypto in 2017 when Bitcoin had its massive price rally to $20K. He spends most hours on crypto news sites and checks CoinMarketCap nearly every 5 minutes. “You know in crypto, prices can increase by 5% in 5 minutes, so you must check it regularly.”
His mood depends on the Bitcoin price, ranging from “f*** y** all, I will become a millionaire on my couch, you idiots” to “oh s***, I will lose everything, this market is so manipulative, and the volumes are all fake.”
The day trader will become either very rich, or most likely, very poor or die of a heart attack in between. 👀
The HODLer
The HODLer can watch his coins double in value in a month or drop 30% in a day and never consider selling. Okay, they may consider selling, but they have the discipline to HODL through the highs and lows. Despite its deceptive simplicity, HODLing has proven to be one of the most effective crypto investing strategies, producing many crypto millionaires.
They are here to get rich, not get rich quick — and they focus on fundamentals, not FOMO.
The Believer
A believer is someone who is intimately familiar with Satoshi Nakamoto’s whitepaper. He is not primarily invested in cryptocurrencies because of the potential to become extremely wealthy very quickly. Rather, he believes in the future potential of cryptocurrencies and the widespread adoption of blockchain in a variety of areas of life.
The believer witnessed the 2008 financial crisis and fantasizes about money being traded in a trustworthy and transparent manner. He is an idealist who believes that crypto/blockchain will provide everyone on the planet with access to value in the same way that the internet did with information. In contrast to the day trader, who is influenced by the price, the believer sleeps very well every night. He doesn’t care if the Bitcoin price is $3750 or $18,000 today; he knows it will be six figures or more in the end.
NEO (aka The Lucky One)
Four-leaf clovers 🍀 practically sprout beneath his feet as he walks. He will claim he isn’t lucky but well-informed or well-connected, but we know better than to believe in realistic explanations. He never misses when it comes to investing in projects that eventually blow up. He somehow always gets out of shady projects, right before their collapse. This can only mean one thing:
He has been blessed by the crypto gods, never to make a wrong decision for as long as they live.
The Hunter
The hunter is skilled at discovering undervalued projects and making big bets, although they’re quick to sell (the pump and dumpers) when they realize they were wrong. When needed, he can switch from being a true believer to a natural skeptic on a dime. But ultimately, they wish to be great crypto investors.
He wants to be ahead of the crowd so badly that he can name 20 coins most crypto investors have never heard of, even if this project hasn’t listed their coin yet. Yes, he’s that good and always on the lookout for a new coin to invest in.
The Ecosystem Expert
Naturally, going into something as expansive as crypto, it’s crucial to stay abreast of industry happenings, but for some, it’s a religion. With so much going on, it’s impossible to keep track of every single project. However, the ecosystem expert doesn’t need to know it all. Instead, they dive deep into a specific community, such as DeFi, NFTs, play-to-earn gaming, or a specific blockchain ecosystem, and know the heck out of it.
This person stays up to date religiously on the latest ecosystem news, especially in their area of crypto. What’s cool about them is that they can identify a promising project in space, and they’re almost always right.
The Scum
This guy is scum, but he is way more than that. This person uses nefarious ways to extort, scam, and steal from people in the industry. He does this by creating bogus projects for the sole purpose of stealing funds and user data, hacking into wallets to steal funds, or any other evil ways to take from you.
We wish a fate just like that of King Joffrey for them.
This diversity of users is what keeps the industry on its toes, and by using their opinions on the technology to determine its direction as the space progresses, we can become better. So rest assured, there’s something for everyone. Well, maybe not everyone.
It’s been a long crypto winter, but things are looking up. Which type of investor do you think you will be for the next bull-run, bet a friend on IBY and wait for the bull to wake up! 👉 ibetyou.xyz
Learn more & connect with us:
🌎 Website
🐦 Twitter
💬 Facebook
📸 Instagram
📢 Community
🔔 Announcements
