Cryptocurrency, if it wasn’t for the pandemic it would definitely be a world of a decade, but, nonetheless, it is still a term that signifies an enormous change, not only in our monetary system but in our life and future as well. Since the end of the last year, and especially during the first two months of 2024, the value of BTC skyrocketed, which further led to even more interest in cryptos. Nowadays, almost everyone who is at least slightly familiar with the whole crypto concept wants to learn and start investing and trading on this market. Luckily, there are many great and reliable websites and software like thebitqtapp.com/de that can help, especially if you are a newbie and still learning the basics of crypto trading. But even so, there are some things you need to understand and be familiar with before you start since trading is not a game, and there are many problems that can occur. That is why we will further discuss and take a closer look on what are the top three biggest problems professional crypto traders have in 2024.
1. Stress
Trading is not an easy task, and professional trading is not something most people can easily do, at least not successfully. It requires a lot of energy, passion, and commitment, and one needs to put in enough effort in order to make the most of that trading and make it profitable. And since that’s the case, it is no wonder why it can all be pretty stressful. It is not something one can plan in advance, and in many cases, things may not go the way we want and desire. Burnout is one of the biggest problems, and it is not that rare among traders because of the necessity to be good and at their best all the time. The crypto market and trading can be cruel, and it often makes traders think that they are not competent enough to make money in that way. A high level of stress is not something that should be overlooked, and one should always keep that in mind before making any decision. Stress is a disease of the modern world, and although it is nothing new, it looks like today it is widespread and “popular” more than ever. All that stress can further lead to many serious health issues and cause numerous diseases that are closely connected to an early death. Because of all this, trading is not a job for everyone, and it is reserved only for people with strong nerves. Even if we put those problems with health aside, stress can cause problems in your social life and make a person isolated from any social gathering. Life quality suffers, and many people have trouble socializing since their thoughts are on the market all the time. People often avoid them since it can be almost impossible to have a normal conversation with them, as they are strictly thinking solely about trading, cryptos, and what will their next move be.
2. Technology
It is not possible to be a crypto trader if you are not familiar with the technology. It is not required to be a computer geek, but it is necessary to keep up with the tech world if you want to do that for a living. One doesn’t have to be the blockchain expert and how the whole system works but should know what it is, what makes it unique, and why blockchain is so crucial for the entire cryptocurrency world. Also, one needs to do proper research to be informed in order to try and predict the next big change and needs to understand how some events, like when PayPal added BTC as the payment method, influence the BTC value. The trading platforms are shifting all the time, and it is sometimes hard to keep up with all the updates. Luckily, those people who love trading are usually good with all new technologies, so the updates are something that they are used to and can effortlessly adapt to them.
On the other hand, trading can also be pretty expensive because buying a new computer every time you need it is not a cheap investment. But, if you are lucky enough and have enough knowledge, you will not only earn back the money you invested in new equipment but make much more. Also, great equipment can save you a lot of money and help you earn even more in the future since it will make your job much more manageable, as it is necessary to invest in every job if you want to be the best in it, and crypto trading is not an exception.
3. People around traders
Although it is common that traders’ social life suffers due to a large amount of stress, if one manages to separate their professional from their private life, it can be pretty amusing, but it also has its downsides. Traders are always interesting, and their stories can be pretty entertaining, and since that’s the case, there are always people around them who want to know more about what they do. It can be really annoying and exhausting to tell the same story over and over again to people who do not know anything about trading. Those people are looking at all that as a game, and they are fascinated with the fact that someone is actually earning money in that way. Because of that, their questions can be unrelated, and their comments can often annoy you. Many of them are asking for advice and want to start trading, but they are giving up as soon as they realize that it is not as easy a job as they think. Just ask someone who is in this line of business how many times have they heard “I thought that it was much easier” when someone new tries to trade. The best thing you can do is to avoid such conversations, but if that is not an option, try to remain calm and change the subject quickly.
Wrapping up
As you can clearly see, professional trading is not as easy as it may sound, but with enough commitment, everything is achievable. Cryptocurrencies are yet to reach their peak, and this value growth of Bitcoin is only the beginning, so let’s hop on this crypto train and begin with our crypto journey.
