Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.
Borrowing money for investment is not recommended, especially if we do not have income that we can use to pay off the loan. That can make it difficult for us later and increase the risk to be even greater if our investment cannot increase in a short time. Investing in crypto is not necessarily profitable in 1 or 2 years because it depends on the existing market conditions and situations. We have seen what happened in the last 6 months, and now, the crypto market is going through uncertain times, which can make us worry if the value of our investment will go up or down. We really need to think again if we want to borrow money. 
Topic: Another warning for every NEWBIE! - page 2. (Read 677 times)
2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.
Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.
Unnecessary borrowing is trouble. Inviting trouble unattended can bring in so much demons along. I like all the points mentioned in OP - stay contented and keep your saving saved. Greed and lust in one of the deadly sins. So be aware.
Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.
I know most of us here already knew what happened to $LUNA but for the sake of beginners, I want to reiterate and give a warning about investing and going all in on this market.
I saw a post online in our local group about money investing and he shared his experience their about losing all his life saving money because of $LUNA investment, this is very heart breaking and that guy really want to end his life which I hope he wont do it. This is why I want to list some of the reminders about crypto investment and I hope every beginners here won't do the same mistake.
CRYPTO INVESTING - SHORT REMINDER
1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES - Use your separate funds if you are going to invest on any market and make sure that you are ready to lose that money because investing is not a guaranteed way to make profit, so have some funds for this.
2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.
3. DON'T BE GREEDY - If you already lose money, you should stop for a while and study again so you can know what's wrong with your strategy and start analyzing again so you can do better next time.
This is just a short reminder since I want to highlights the important things you need to know before investing.
There's a lot of news about suicide incidents because of losing money on their investments, and I don't want you to ended up on the same path so please do your own research first and again invest only what you can afford to lose.
These are considered the basics when it comes to making investments but still most of the newbies fall for it. Maybe because they don't see theirselves as long term hodlers but they are more on seeing crypto as a get-rich-quick scheme. The reason why they tend to be more aggressive and end up falling for their mistakes and lose their funds. The fate of Luna was totally unexpected, and we can't afford bitcoin to end up that way too. So as much as possible, invest with caution and never fall for wrong dispositions in life. I saw a post online in our local group about money investing and he shared his experience their about losing all his life saving money because of $LUNA investment, this is very heart breaking and that guy really want to end his life which I hope he wont do it. This is why I want to list some of the reminders about crypto investment and I hope every beginners here won't do the same mistake.
CRYPTO INVESTING - SHORT REMINDER
1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES - Use your separate funds if you are going to invest on any market and make sure that you are ready to lose that money because investing is not a guaranteed way to make profit, so have some funds for this.
2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.
3. DON'T BE GREEDY - If you already lose money, you should stop for a while and study again so you can know what's wrong with your strategy and start analyzing again so you can do better next time.
This is just a short reminder since I want to highlights the important things you need to know before investing.
There's a lot of news about suicide incidents because of losing money on their investments, and I don't want you to ended up on the same path so please do your own research first and again invest only what you can afford to lose.
The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
many people tend to gorget that the principle of buy more on dip is only applicable to bitcoin and does not work for other cryptocurrencies, as the coin begin to fall and keep falling should have signal a warning to them since its not bitcoin, once an unrealistic altcoin falls it find it difficult to rise back, because then their real identity as shitcoin got revealed, it is good to take risk but it is unwise enough to seek such opportunity from what doesn't really worth it.
The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
People becomes confused when influencers incurge them to invest on shitcoins. I know a youtube channel named Fomotion and Fomotion HQ. This guy release videos every weeks with no research, no fundamentals. You will understand what I mean if you visit his youtube channel.
The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
This will be tough for those who used all they had in this coins, it is good to buy smaller amount of coins that are not too reliable because most of all this shit coin when ever the market bearish such lost value. The best thing is to buy will small amount just to observe how valuable the coin will be.
I saw a post online in our local group about money investing and he shared his experience their about losing all his life saving money because of $LUNA investment, this is very heart breaking and that guy really want to end his life which I hope he wont do it.
Cryptos isn't for sissies and weaklings. It's for men with heart of steel. Even the caveat of not investing money you can't afford to lose euphemistically reveals that. So, if anyone comes baby crying that they lost all in crypto and think that suicide is their best way out I will hand them a noose. They think crypto is a get rich quick scheme and they want to breeze in and then walk out with a loaded briefcase with cash.Well, the points in your advice are notable and correct. However, dragging in just Luna alone as a scapegoat into your post makes it look personal. There are several other altcoins which will soon follow the way of Luna in time to come. It's the pattern in crypto. Newbies should invest more in Bitcoin than alts. It's not as if Bitcoin doesn't dump. It's just that it's the only one sure to rise whenever that dip happens.
The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.
All of those reminders are on point.
The current most hot issue about Luna and UST have thought these lessons to those who lost a lot of money including their life savings. Saw some investors who have borrowed money just to invest in Luna alone.
We are not suppose to criticize or laugh at them, even though they did not use their spell money to invest in Luna coin. Many other coins has done what Luna did. The thing is that nobody knows the project that will yield positively before concluding to run investment with a lot of capital, the things i seen that caused this massive lost via new adoption projects, is inability of the investors to research and know the potentiality of the project before investing for long term investment. And in this case of investing via newly launched coin you most not use borrow capital, because of the risk involve on it, because the project never build it's reputation or trust. The current most hot issue about Luna and UST have thought these lessons to those who lost a lot of money including their life savings. Saw some investors who have borrowed money just to invest in Luna alone.
I know most of us here already knew what happened to $LUNA but for the sake of beginners, I want to reiterate and give a warning about investing and going all in on this market.
This warning is actually not only for newbies but also all of us, especially for me, this kind of remaining from each other is really helpful because we are sometimes too greedy and dumb to see the project and all in to buy the token or coin without any diversification and cosndieration. Whereas, so far, there have been several examples that also crash like LUNA although LUNA may be the worst. But as a newbie or even as an investor, we must know about money management including the risk amnageemnt. The two combination will result a wsie management of fund and also strategy so tht we don't regret about what we are doing so far.
It's not bad to use your savings in investment. You can divide your savings which is fund #1 is for Bitcoin investment then fund #1 is for expenses that is important to spend your money with. This also apply to don't invest what you can't afford to lose and if you can't afford to lose all your savings then why take a portion of it which I just explained earlier. You can invest separately to avoid losing all your money if ever the project you have invested is a scam or a shit one.
Pretty simple logic doesn't invest that you can't afford the loss. Luna sorry was like a killing mission for new investors. Even I have lost a lot. But I invest only that I can afford the loss though the amount was big. No reason to borrow money to invest in cryptocurrency, it's not only a risk but it would destroy your life. It's not very easy to make money from crypto anyway. It's always risky, before getting into crypto should think twice.
A lot of advice for beginners is written. But I think beginners are quite difficult to do that. In addition, practice will be more difficult than reading. Because the state of the market is very different from the conditions when you understand the theory about beginners. One problem is especially greed, I am sometimes a little wrong to leave the market because of greed. This greedy nature seems to have been carried from birth and it is a difficult to control it. A person must continue to practice discipline with the plan he plans to avoid regret.
Yes you are right that mate and every newbies must know about that it's hard to understand and gain more knowledge if they spent less period of time for reading and understanding the topics provided by our forumites.
Before investing in a new project make sure that if you lose you won't be hurt, and don't invest a big amount in a new project, also you are right that Op does not use your savings for investment because it causes depression if you got scammed or lost. This is what happens to a friend of mine he withdraws all his savings to aim a big amount but the project is a scammed. Then a depressions come.
Not just only to invest with small amount on new project, it is also important too to make research on new projects to know how legit it is. Many new projects don't survive during the bearish season. It is always advisable to invest only on the amount that won't result to any emotional issues if anything happens.
Before investing in a new project make sure that if you lose you won't be hurt, and don't invest a big amount in a new project, also you are right that Op does not use your savings for investment because it causes depression if you got scammed or lost. This is what happens to a friend of mine he withdraws all his savings to aim a big amount but the project is a scammed. Then a depressions come.
Not just only to invest with small amount on new project, it is also important too to make research on new projects to know how legit it is. Many new projects don't survive during the bearish season. It is always advisable to invest only on the amount that won't result to any emotional issues if anything happens.
Most people who makes such mistakes are those who see the crypto projects out there for a get rich quick scheme.
Suddenly, you get a new investor completely obsessed with making money out of cryptos that they tend to forget that, there is a risk factor in every investment and crypto is no exemption.
Some of these obsessions comes put of listening and giving much attention to users success stories on the various social media groups or channels out there. Even some of the once j a blue moon promoted stories on some start up projects for which some user must have acted as an early bird and made the most of it.
The truth is, it happens but this might not be your story. Again, the user just might not have taken the sort of risk obsessed reckless users are willing to take by going all in. You have to be conscious of the fact that it can go south at any time and when your not properly grounded in a field and on a project, your always in for some huge risk.
Take time and study the field and the project before investing. When you do invest, ensure its money you would be comfortable loosing. No doubt, the money gets to accumulate into something worth the while and painful to lose but, you still get a lifeline I'm the fact that, they were not some pained investment.
Suddenly, you get a new investor completely obsessed with making money out of cryptos that they tend to forget that, there is a risk factor in every investment and crypto is no exemption.
Some of these obsessions comes put of listening and giving much attention to users success stories on the various social media groups or channels out there. Even some of the once j a blue moon promoted stories on some start up projects for which some user must have acted as an early bird and made the most of it.
The truth is, it happens but this might not be your story. Again, the user just might not have taken the sort of risk obsessed reckless users are willing to take by going all in. You have to be conscious of the fact that it can go south at any time and when your not properly grounded in a field and on a project, your always in for some huge risk.
Take time and study the field and the project before investing. When you do invest, ensure its money you would be comfortable loosing. No doubt, the money gets to accumulate into something worth the while and painful to lose but, you still get a lifeline I'm the fact that, they were not some pained investment.
A lot of advice for beginners is written. But I think beginners are quite difficult to do that. In addition, practice will be more difficult than reading. Because the state of the market is very different from the conditions when you understand the theory about beginners. One problem is especially for greed, I am sometimes a little wrong to leave the market because of greed. This greedy nature seems to have been carried from birth and it is difficult to control it. A person must continue to practice discipline with the plan he plans to avoid regret.
Since you brought up Luna I thought it was Luna related but you just repeated what everyone else has said a million times. A better warning would have been to avoid centralized altcoins with no purpose such as Luna that try to fool people into thinking that they are useful, stable, offer this and that utility, etc. while they remain useless and their price can dump significantly simply because they have no value.
Avoiding centralized altcoins might be hard since some of them are still in a good shape, it's actually hard to predict stable coin especially if someone holds them a big portion of that coin and he can easily drop his holdings just like what happened with LUNA. This is not about the progress or update about LUNA but this one is the bad result of manipulators, many lose a lot of money.
Before investing in a new project make sure that if you lose you won't be hurt, and don't invest a big amount in a new project, also you are right that Op does not use your savings for investment because it causes depression if you got scammed or lost. This is what happens to a friend of mine he withdraws all his savings to aim a big amount but the project is a scammed. Then a depressions come.
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