Actions You May Want to Take in a Post Crypto Winter

The year 2022 brought a number of financial problems for investors toward the end, a period which has become known as the crypto winter of 2022. This period recorded a major downturn in the value of cryptocurrencies. In the midst of this, a serious financial crisis was also recorded in the crypto space known as the FTX scandal where a major crypto company folded up with people’s funds. \ As a writer in the crypto space, I personally witnessed a downturn in gigs in wake of these events and like me you may have lost money in one way or the other. Hence, it has become important to be very careful in making financial decisions so as not to make costly mistakes that one may come to regret. Below is a list of actions you may consider implementing to make the best use of your resources in these hard times. \ \ 1. **You may want to adopt wealth management tools:** Technology is advancing very rapidly and leveraging on innovations like artificial intelligence, block chain technology and other fintech tools, finance companies and software developers have flooded the internet with many tools that will aid people not only easily enter the finance market but also become educated and proficient at it. \ While you may rightly distrust some of these tools due to many scam apps that are also being released or just prefer to rely on your good old personal expertise, it may also be advisable to adopt some of these tools at least to improve your efficiency as an investor. \ Some popular tools you may want to check out include; \ * Akt is a wealth tech platform that promotes profitable savings using secure block chain enabled Euro vault technology and high interest rates of about 8% annually. The platform combines artificial intelligence and the experience of financial professionals to provide users with automated tools to expertly manage their traditional and decentralized financial assets. * Wealthfront gives you high quality financial advice to help manage your portfolio. This platform is built to help you invest in the long term through an automated diversified investment account. * Revolut is a personal finance app for long term management of transactions. This platform is built to be a comprehensive all things money platform allowing users to smartly spend, send, save and invest in one place. * Stash is wealth tech app for management of investments in crypto, bonds, forex etc. Stash described as the investing app for building long term wealth. This goal is accomplished through the use of automated investing tools, low and transparent fees, profitable interest rates on the platform. \ 2. **Educate yourself more about the financial market:** Perhaps there is no better time to learn about a subject than when there is a problem to solve there that may turn out to be beneficial. This is very true for the finance market. Due to the proliferation of fintech apps in both the regular finance and crypto world it has become very easy to begin investing in financial assets. Hence, many people have gotten onto the field that may not be very informed on how the market works. Hence, if you’re one of those, or even a seasoned expert, you may want to read up some more. \ Now may a good time to know about a bull market and a bear market. A bull market as may be obvious from the name refers to a period of great performance in the finance market. It’s often a very profitable period and many people make money in times like this. A bear market on the other hand refers to a period of poor performance in the finance market. Hence, the crypto winter being experienced is a bear market period (probably because bears hibernate in winter and because it happened in the winter of 2022). \ Bear markets often occur due to a negative perception of trends in the market that discourages investors, just like the many crashing of some cryptocurrencies that preceded the crypto winter. \ With that said, an investor should know however that a bear market period like the crypto winter does not signify the end of the market. [Historically a number of bear markets have been recorded](https://www.investopedia.com/a-history-of-bear-markets-4582652) but the market recovers eventually. Hence, there is a good chance that crypto currencies will recover from the down turn. \ In summary, if you are discouraged and planning to give up on the market entirely due to the crypto winter, that may not be too advisable as there is still hope of market recovery. \ 3. **Now might actually be a good time to invest but maybe not too heavily:** The value of crypto currencies is down currently so for many people if not most, its time to avoid the market. This is a natural feeling but sometimes what seems obvious can be misleading. \ The financial market itself is actually about discovering opportunities and if well observed the crypto winter period can actually be a blessing in disguise. How you may ask? \ Well, the same reason why you may be trying to run away! The prices of crypto currencies are down so they are now more affordable! \ Given how we’ve already established that historically speaking, the crypto market has a good chance of making a recovery, you may to invest some money in crypto assets at a lower price now so that when the market eventually recovers, your asset could significantly appreciate in value and you can sell it for profit. There’s often a serious rush to invest in appreciating financial assets, so many buyers will likely be available for the asset. \ However, the market is still volatile and unpredictable so you may not want to pour in all your savings in it or even any money you may need soon. As you should already know, invest only what you can afford to lose. \ 4. **You may want to discover other ways of making money from crypto:** I know, you came in here to be an investor and not to stress yourself with another task that will disturb your precious schedule. But, if we are speaking honestly you probably came into the crypto world because you saw (or maybe just heard about) the great potential in it. You should know that investing is not the only way of benefiting from this potential. \ There are several other ways of making money from crypto and not all actually feel like a job. A good example of such opportunity will be crypto gaming. A number of play to earn web 3 games have already been released which allow you to earn NFTs or currencies from playing. You may want to check this out to make money from a leisure crypto activity. \ If you already have a lot of knowledge about investing in crypto, you may want to become a crypto based content creator and make money from making investment videos, writing crypto articles or creating investment tutorials. \ You can post videos on monitisable platforms like [Youtube](https://www.youtube.com/) and [Tiktok](https://www.tiktok.com/) or you can sell articles on platforms like marker etc. \ \ ## Conclusion The crypto winter of 2022 is a bear market period that has discouraged a lot of people in the finance world but as has been highlighted bear markets also create an opportunity for great improvements. I will advise that instead of just sitting back to wait, investors should adopt these named (and other related) best practices in wealth management to make the best of the situation and place themselves in a profitable position when the dust (or should I say winter snow) clears.

Actions You May Want to Take in a Post Crypto Winter

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