Don’t FOMO into Crypto. It’s a bad idea….

Ben Simpson, the Founder & CEO of Collective Shift, breaks down Crypto in a simple way, says we should never let FOMO takeover in Crypto, and explains why he is too emotional to trade.

Collective Shift is a global Web3 education and research platform which offers tools to traders and investors, expert daily insights and a thriving and supportive community. Ben is the co-host of two different Crypto podcasts and he loves Bitcoin, start-ups, entrepreneurship and almond lates

Time stamps

• [1:08] Introduction to Ben Simpson
• [1:40] Explaining cryptocurrency to a 5-year-old using animals in a zoo as an analogy
• [2:41] How did Ben, born and bred in Tasmania, get into Crypto?
• [4:36] Identifying a lack of education in the world of Crypto
• [5:29] Ben explains what we need to understand about money
• [7:13] Biggest arguments against Cryptocurrency
• [8:52] How early are we right now?
• [9:50] Ben’s advice went it comes to Crypto FOMO
• [10:55] Ben’s take on the Web3 industry
• [11:48] What’s a Bitcoin Maxi?
• [13:03] Why community is so important in Crypto and Web3
• [13:45] What advice would Ben give to his younger self?
• [15:06] How much of a role does intuition play?
• [16:14] Why Ben is too emotional to trade
• [17:04] Qualities needed to successfully trade in Crypto
• [17:56] Myth-Busting: Bitcoin is not a ponzi scheme
• [18:34] Stay safe from scams
• [19:53] Wrap-up

Key takeaways

• What is Cryptocurrency, in simple terms?
• How did Ben get into Crypto
• The possibilities Bitcoin presents compared to Fiat currencies
• Why you need to understand money before you buy in
• Why Bitcoin makes sense in comparison to inflation and hyperinflation
• Outing multiple Bitcoin myths
• Why we shouldn't FOMO not Crypto
• What's a Bitcoin Maxi (Maximus)?
• The power of community in Web3
• Self-belief: The value of backing yourself in Crypto decisions
• The role intuition plays in decision-making in markets
• Why Ben is too emotional to trade
• The dopamine loops of daily Crypto trading
• Traders cannot be emotionally attached to assets
• Myth-Busting: Bitcoin is not a Ponzi scheme
• Stay safe from scams: If it's too good to be true, it usually is

To follow Ben Simpson, connect vis his social accounts below:

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You can connect with Collective Shift through its website or via its socials below:

YouTube

LinkedIn

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Discord

Podcast audio editing by Dejan Djajic 

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