Topic: Does crypto offer riches overnight? - page 7. (Read 6150 times)

yes because crypto is not a way to get rich quick. knowledge plays an important role in crypto trading and investing. many people fail because they only think crypto is profitable, but don't care about the risks that will occur in the future. crypto market is very uncertain and difficult to predict even, there will even be people who lose even though the market is bull. they're the ones who always get stuck FOMO, and never be patient.

only miracle could make us rich in a night. this is the most fatal mistake that done by most crypto trader or investors. in finance industry it have big risky that could make loss our money only in second. forex, stock and crypto market were full of risk for unskill investors. and i am agree while we join in this market our knowledge will be our saviour and make us survive or not.

When I discovered crypto my understanding is we can earn bigger overnight and before sunrise. Why? Because my classmates and schoolmates are always sleepless. If you ask them why, they are going to answer you "I'm monitoring the price" or "I'm keeping an eye to crypto" or "Make posts". I know this makes me afraid to enter crypto but when I finally decided to study how or what are the things to make me earn in here, I notice that I am wrong. Yes it is patience that we need, become hardworking person, and continuous learning process. Sometimes it may require us to have sleepless nights but it does not always work no that way.
Get rich quickly? Like a normal job or like in school if we start one thing we have to go through the learning process on what we are doing since we are newbie. It is impossible that as a first timer, we already know all the things that we need to know so we become rich quickly. We have to invest effort on how to study this thing, we must fully understand this thing since it is very risky.

Thank you for such a wonderful advice, personally, I discovered about bitcoin and crypto currencies in 2016, i got not because I wanted to make money quickly but because the technology was fascinating to me, I wanted to really understand how it works, after playing faucets and earning some satochi in bitcoins, I started trading for fun on poloniex, I was trading for the profit but to see how it works and feels, and it was great, I mean it was like playing a game to me, I loved it, so after some time when I've mastered the art of trading a bit, I decided to put in more money into it, along the line, I discovered I can actually buy this coins and hold it, I tried it and it felt better, so I decided to look for an ICO and invest in, unfortunately, the first ico I invested in turned a scam and that was how I lost all my money, I hustled and put in more money and more money and more money and eventually after like 1 and half year going to two years, I started making some money out of crypto.
Friends saw me I wanted to join, but they always have this mindset of investing $50 today and withdrawing thousands of dollars tomorrow, they never understood that, just like every other business, it takes time to start making money in crypto, each time I try to make them understand this, they feel am deceiving them, this is why I stopped talking to my friends about crypto.

Not sure if crypto is a get rich quick over night, cause it requires alot of hardwork and dedication to be able to succeed in this space, the people who get bankrupt aren't patient because they invest more in a project than they can afford to lose, and in the end things go sideways instead of profits they suffer losses, in the crypto space there are so many ways to become rich quickly but it's never over night you have to put in the work to get the right result.

Sometimes this is actually possible. Sometimes for individuals it just worked out well for this circumstance, but in general it takes a long and exhausting work to become rich in cryptocurrency. Due to its unpredictable price movement, getting rich quickly is just as possible as losing your investment in cryptocurrency.
To become rich, it can be enough just to invest in some coins or tokens and this can bring big profits after a while. However, this is becoming increasingly difficult to count on.

Actually there is, we can look at the shit tokens hypes on binance smart chain.
Some people who lucky enough, were able to make tons of money from of the hypes.
I think we can get rich very fast in crypto, but don't get me wrong, because cryptocurrency is more profitable if we hold it for long time.

Absolutely agreeable even you have a good amount of funds doing crypto like trading/scalping cannot get you rich in just overnight because those who got rich in crypto is those who hodl in a long term manner. So that is really true that patience is the key to get rich in cryptocurrency.

Crypto is one investment that can offer you riches overnight. We can all see how meme coins gave exponential profits and growths over time

But what a lot of people hear about the crypto market is an investment that will make people rich quickly in no time.
a reason that many new people use their spending money and even borrow people to enter into the crypto market.
This market is volatile, but this market has been built on the trust of everyone for a very long time. nothing is instant get rich.

The returns offered by Crypto coins are already much more than any other investments. One just needs to be patient and not be too greedy and fall for any get-rich-quick scams.

Yes, but that kind of thing rarely happens forever in crypto so the risk is greater than the profit because being rich in one night can only be obtained by a few people and usually people who enter earlier when the price has not been pumped.

getting rich overnight is definitely risky although not impossible, the recent coin pump and dump meme trend has seen absurd earnings rates but this is for a few people, laggards investors have discovered what a ponzi scheme is.
patience and the long run always pay off

It will be very sad when people who have never tried working in crypto think that in crypto they can get money very quickly, even though everything takes process and time, so there must be patience when starting to work very seriously.

Anytime there is a huge success story in crypto , people outside usually think it was rapid especially when it's investing little funds to earn big. Many people will come in and start investing in random projects. When things don't go as expected then they start saying many things. Patience and hard work lesson are not usually said because all they want to hear is to start making money as quick as possible. That's not how it works.

If there is a coin that is able to increase three times the price it bought, I am sure everyone will sell it, because usually after a large increase there is always a decline in the end even though it is not in three times, but what needs to be underlined is that this kind of thing is very rarely happens in crypto.

I agree with your point of view! It's hard to become rich just after a night. Although this can happen when investing Bitcoin. For example, you bought a coin after a night of its value rising triple. Means you have a word. Do you keep it or sell? Or after a night value it drops to 3 times compared to the original. How do you resolve? So patiently and find the best business direction.

If you are rich with plenty amount of funds maybe you can get richer overnight if you are good in trading as well however I don't think that as a normal crypto enthusiasts getting rich in crypto space cannot be done just overnight because it is a long process and you need to have plenty of patience waiting for the right timing.

There is no such thing as getting rich overnight. Some people believe that getting rich is easy. It is not easy and you have to be consistent in doing the things that will help you to get rich. It needs to have a lots of knowledge before jumping in c,ryptocurrency because this kind of investment is very risky and will make your hard-earned money go away in an instant. If you do not know what you are doing.

Depends on what you define as "overnight"... I think for some people that does apply even though it may not have happened within 24 hours frankly speaking. Sure, lottery makes you rich over night, but hardly anything else has been as profitable as cryptocurrencies for those who got in early. Or do you know of another asset class that did the same (ever)?