But because of the cryptocurrency hype at the end of 2017, many peoples trying to get rich using cryptocurrency.
No wonder after the hype, cryptocurrency gone dump. Now, many newcomers already left crypto i think.
Cryptocurrency is a digital currency that must be used as a currency, not a speculation instrument.
Topic: Crypto is not a get rich quick scheme (Read 23384 times)
Crytocurrency has always been misconstrued as a get rich quick scheme, this is because of the freedom and opportunity that the industry holds. Many people have made significant amount rapidly by holding bitcoin in the past and it could be replicated for other cryptocurrencies.
It is so unfortunate that most people dont see it that way many see it as just a profit scheme but on the real sense it is supposed to be a technology that will aid decentralized verification of payment
it's very reasonable because most people are here because they want profit.it's just that their way of thinking is indeed wrong because there is nothing easy in investing because there is no investment that is not risky and also requires sometimes very long time.
Thanks to the work on the cryptocurrency market, it seems to me that one can become rich.
It is rather difficult to achieve success due to the fact that the market is volatile and not all players have enough experience.
Over time, all these moments will become easier for you and becoming a professional you will come to success.
It is rather difficult to achieve success due to the fact that the market is volatile and not all players have enough experience.
Over time, all these moments will become easier for you and becoming a professional you will come to success.
most of the coins will not go up in price, you only need to pick up coins with a good idea
full member
Activity: 660
Merit: 101
Colletrix - Bridging the Physical and Virtual Worl
It is so unfortunate that most people dont see it that way many see it as just a profit scheme but on the real sense it is supposed to be a technology that will aid decentralized verification of payment
Cryptocurrency is a good way to make money. But we should not take this carelessly. This is a big risk and we should be aware of this.
That is right crypto is not easy to get quick rich as you dreming of, when you are trader or investors anytime you will might loss you capital or sometimes you will get success here in cryptocurrency.
In 2017, many beginners were sure that the cryptocurrencies could really make them rich in the shortest time. Later, when they understood that this business needs a lot of work and effort, many of them lost their trust in crypto.
In 1898 Alaska had a "gold rush" and then the hype around gold subsided. Now the same thing is repeated in the cryptocurrency industry.
For me crypto is the same type of traditional investment as stocks, gold, property and so on, if there is no hope for quick rich, I immediately leave crypto, I better switch to other types of investments that more safer than crypto.
Perhaps you are right, everything is relative, and everyone has a different understanding of what it means to get rich quickly. For me, this means a steady ever-increasing earnings over the course of 5 years, I think that this is quite fast.
I would not think so, there is always a chance that you will become very rich thanks to cryptocurrency. But there are so many other serious situations. Especially if you become rich, you will need to explain to banks how you became rich and where did you get that kind of money.
Crypto is growing stronger each time since the inception of this great technology. This means the awareness creation is effective and must be continued. The people are gradually getting to know the concept and how the crypto market operates. Although the market is showing red, it is far better than the previous years irrespective of the attacks and regulations coming from the governments.
I always think about how to benefit from crypto, crypto space is one place to get money easily but not get rich quick too. here we need to really understand how to find loopholes from crypto, actually it's harder to do than just talk.
Its possible, there is a big possibility for getting rich really fast, what more do we need except that chance! I saw some people going all in, selling houses and investing in cryptocurrencies in 2016, now they are rich. Getting rich fast is not falling from the sky thou, you need to put your ass on the line and risk a bit more than usual. Binance coin is x3 since December, on 1 million invested you collect 2 millions clean profit, its happening and you need to risk your ass big time if you want to get rich quick.
I always think about how to benefit from crypto, crypto space is one place to get money easily but not get rich quick too. here we need to really understand how to find loopholes from crypto, actually it's harder to do than just talk.
There is no such thing as free money on this world so you have to work very hard with full dedication to achieve your your goals ,run away from projects that promise huge returns because there is high chances that its scam and don't join and money doubling schemes cos they are ponzi schemes ,cryptocurrency is not a get rich quick scheme ,your hard working is required to achieve your aims
Definitely getting rich in crypto might not really be a good thing, its is because you does not have the skills needed in trading or choosing an ICO but just based on pure luck on selecting ICO to invest you can be lucky for a few times but it will not last you long before your portfolio turn 0.
If you rely only on luck, then the cryptocurrency can be compared with a casino-although it is not.Cryptocurrency is not a game, but a new digital financial instrument on which you can earn.But as in any business success depends on hard work and knowledge that we get for this.
If someone is lucky enough to make money in a growing market and these people continue to think that this will continue-sooner or later they will lose their money.
Definitely getting rich in crypto might not really be a good thing, its is because you does not have the skills needed in trading or choosing an ICO but just based on pure luck on selecting ICO to invest you can be lucky for a few times but it will not last you long before your portfolio turn 0.
Those who believes of their thoughts that crypto is quick rich scheme they might lossing their investment, if you want to get rich here in crypto take all the risk from your investment and after this you might be able going to success and probably you are getting rich at that time.
For me crypto is the same type of traditional investment as stocks, gold, property and so on, if there is no hope for quick rich, I immediately leave crypto, I better switch to other types of investments that more safer than crypto.
It's a bit different because crypto has very high volatility comparing to another market like gold or even stock market. You can see how the early adopters have become the millionaires of bitcoin and that gives real evidence.
For me crypto is the same type of traditional investment as stocks, gold, property and so on, if there is no hope for quick rich, I immediately leave crypto, I better switch to other types of investments that more safer than crypto.
Jump to: