Crypto

Earnity’s Dan Schatt and Getting Over Crypto Buying Fear

Over the past years, many buyers have enjoyed success with cryptocurrency. Earnity, a social-first crypto platform and marketplace led by Dan Schatt and Domenic Carosa, seeks to make digital assets accessible to many more people by developing a platform where users can earn, collect, gift, and learn about cryptocurrency.

Still, the reality is that an abundance of fear holds back individuals and institutions from jumping into crypto. It is reasonable because there is still a lack of widespread understanding of digital assets in its early stages. Additionally, its market is significantly volatile.

But there are ways to overcome their fear and hesitation for those who wish to buy cryptocurrency.

Gaining Confidence

Before anything else, it is never wise to put money in cryptocurrency — or any other purchase vehicle — if there are insufficient emergency funds. Remember that buying an asset reduces one’s liquidity, which is a scary thought if a crisis arises. Most financial advisors recommend setting aside emergency savings to cover three to six months of essential bills before buying.

An effective means of gaining confidence is through education. A study determined that after people attained a complete understanding of the technology behind cryptocurrency trading, they could make the correct decisions most of the time. Many buyers have lost money in crypto due to FOMO (fear of missing out) without even attempting to learn first about what they are diving into. Sometimes, even simple research is not enough. Deep research is the key, especially since thousands of cryptocurrencies are in the market.

Looking for a Community

It also helps look for a community that can provide knowledge and insights into crypto. By connecting and interacting with like-minded people, it becomes easier to learn about the ins and outs of the crypto ecosystem.

The Earnity platform is intended to be social-first to promote collaborative learning among users and help potential cryptocurrency buyers. Dan Schatt and Domenic Carosa emphasize that crypto and the decentralized finance (DeFi) industry should be about access, where people can gain entry to financial participation and inclusion.

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