Thanks for this advise, I hope many of us (newbies) will learn from this and avoid wrecking before even starting to sail through our journey in cryptocurrency. The importance of this forum, especially for beginners in cryptocurrency, can not be over emphasize.
I also want to mention that it's not too late to start, if you get things right from this moment onward, you will definitely gain back the money you've lost, meanwhile this should not be the source of your motivation, because if that's all that motivate you, you might not end up getting the best out of cryptocurrency.
Topic: Don't be like me (Read 743 times)
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Quite ballsy of a move by those people actually to pay "good money" to Youtubers. If I was starting out a brand new business off-crypto, I would not just pay off a large amount of my capital to them just for an exposure of my product. I can just imagine those people even handing out a script to Youtubers to say these lines while promoting their project throughout the video as a sponsorship. 
Unfortunately if you don't lose something you can't learn. I have been in crypto market since 2015 and i lost a lot until now. But that's good or i want to see it like good way 
When i lose something, that time i get new experience in my life so i don't do that again. Please don't be sad when you lose just don't play with your all money! You should always keep money for plan B.
When i lose something, that time i get new experience in my life so i don't do that again. Please don't be sad when you lose just don't play with your all money! You should always keep money for plan B.
Here are your mistakes.
+You were greedy, you aspired for heavy, quick wealth.
✓ always invest with your own capital, you broke that rule when you borrowed a lone like that to invest.
✓ never solely trust people who get paid to shill crypto-currency) on their channels.
√ you didn't see your loses Early enough or you ignored it
+You were greedy, you aspired for heavy, quick wealth.
✓ always invest with your own capital, you broke that rule when you borrowed a lone like that to invest.
✓ never solely trust people who get paid to shill crypto-currency) on their channels.
√ you didn't see your loses Early enough or you ignored it
Follow follow no make u rich rather u will fall because grace they can never be the same,please where your hand reach please stop they don't proceed because if u do stelling you go so,Socratic say stated that man be yourselves.this mean that always satisfied of what you have,don't borrows to be rich please, a world is enough to the wise
The biggest mistake Ive ever made with crypto was I took a 1200$ loan in 4th quarter of 2021to invest in a meme coin that later tanked down to 70% loss, I was deluded with 100k BTC by December and also the beginning of a bigger altcoin season, I wish I listened to some advices on here instead of relying on some crazy youtubers, my own crypto journey started with huge loss i hope I will make them back some day, if you are new to crypto do not take me step.
At least no knowledge is waste, I believe you have learnt from your mistakes because the greatest mistake in life is not learning from your past mistakes. Also not all that glitters are gold. Before investing next time you have to understand the concept of timing because timing is one of the strategy wen it comes to Crypto currency.
The biggest mistake Ive ever made with crypto was I took a 1200$ loan in 4th quarter of 2021to invest in a meme coin that later tanked down to 70% loss, I was deluded with 100k BTC by December and also the beginning of a bigger altcoin season, I wish I listened to some advices on here instead of relying on some crazy youtubers, my own crypto journey started with huge loss i hope I will make them back some day, if you are new to crypto do not take me step.
Too bad you lost what you borrowed to invest but at least you have gotten a bigger knowledge and experience on how crypto-investment is all about.Do not always rely on social media information especially when it comes to BTC and crypto investment because everyone will drop videos claiming to be expert in crypto but after you follow their steps you will loose all you suffered to save. I hope you have learnt from your past mistake?
It's almost same story with all crypto investors, one way or the other everyone have lost some money but the way forward is to stay strong and never give up you will end up making back more than you've lost.
It's a pity you lose such an amount in meme coins. It's a lesson well learnt listening to paid YouTube promoters. Meme coins are described as shitty coins, it's unfortunate you fall into it by investing wrongly.
Next time don't be in a haste to invest in any hype coin by YouTube promoters without DYOR properly well.
Next time don't be in a haste to invest in any hype coin by YouTube promoters without DYOR properly well.
Try before you do that, all loans, $1200 and cheated almost 100k Btc, first you do some discussion and questions in this forum, I'm sure you'll be fine, youtubers lie more than the real thing, 70% edit youtuber channels, which is impossible to make possible.
OP, if you are starting over or doing something new with crypto, discuss it here if you are in doubt about doing so and avoid getting scammed.
OP, if you are starting over or doing something new with crypto, discuss it here if you are in doubt about doing so and avoid getting scammed.
The biggest mistake Ive ever made with crypto was I took a 1200$ loan in 4th quarter of 2021to invest in a meme coin that later tanked down to 70% loss, I was deluded with 100k BTC by December and also the beginning of a bigger altcoin season, I wish I listened to some advices on here instead of relying on some crazy youtubers, my own crypto journey started with huge loss i hope I will make them back some day, if you are new to crypto do not take me step.
Nobody is perfect and nothing goes perfect as per our expectations in our life we just try our best to have good results & that efforts make us indulge in positive activities. You faced loss you came here you got positive suggestions with experience, that could guide you the actual way of investment. I also invest in crypto about one year ago. I faced loss a lot, I got my pockets empty. But I started again without regret and got well results. Mistakes lead to experience and experience leed to success.It's never too late to start again your efforts with deep knowledge and investigation.
Mistakes are made for lessons,and those mistakes are the experience one gets as well.If there is no mistake,one cannot improve,and one cannot take corrections as well,so it is not even good to regret a mistake made because those mistakes made are the experience you've had in that field.
There are some mistakes you made here since you said that you were new in crypto and just started your journey.
1. Never think to get profits instantly when you are new, better to focus on learning first.
2. Don't use a big amount of money on the first journey, $50 - $100 is enough to start your crypto investment. Then, you can use a bigger amount of money when you think you already have enough knowledge and experience in crypto investment.
3. Avoid using loan money for crypto investment, just use your extra money. Use the money that you can afford to lose, that's what people often say for the recommended funds to use in crypto investment.
4. Investing in meme coins are too risky for a newcomer. As far as I know, the meme coin is one of the hardest types of crypto coins to invest in because mem coins are very very unpredictable and have no fundamentals. Most meme coins are only used by the whales to earn huge profits by using pump-dump schemes. A newbie is probably difficult to follow this pump-dump scheme.
I hope you can take a big lesson from your first huge loss and never do the same mistake in the future.
1. Never think to get profits instantly when you are new, better to focus on learning first.
2. Don't use a big amount of money on the first journey, $50 - $100 is enough to start your crypto investment. Then, you can use a bigger amount of money when you think you already have enough knowledge and experience in crypto investment.
3. Avoid using loan money for crypto investment, just use your extra money. Use the money that you can afford to lose, that's what people often say for the recommended funds to use in crypto investment.
4. Investing in meme coins are too risky for a newcomer. As far as I know, the meme coin is one of the hardest types of crypto coins to invest in because mem coins are very very unpredictable and have no fundamentals. Most meme coins are only used by the whales to earn huge profits by using pump-dump schemes. A newbie is probably difficult to follow this pump-dump scheme.
I hope you can take a big lesson from your first huge loss and never do the same mistake in the future.
If you are borrowing money to invest in cryptocurrency, I believe the coin you should buy is bitcon, why will you borrow money and end up investing in meme coin which I believe by now the coin will be dead, I won't really advise you to borrow money to invest in cryptocurrency, it kind of risky for you to invest what you can't afford to lose, so how will you be able to repay your loan now that your coin price is down by - 70%. Incase if you are borrowing money to invest in cryptocurrency bitcon is a nice coin which I believe if you can hold you will never sell at lost. Atleast I believe you have learnt your lesson and i believe the mistake won't happen again.
im sure everyone make mistake, but its all become your experience to be better.
it doesn't metter to believe to youtubers or anyone but using loan money is a big mistake and i hope next day your problems are resolved
it doesn't metter to believe to youtubers or anyone but using loan money is a big mistake and i hope next day your problems are resolved
never trust a meme coin. on the bright side, you can take this incident as a lesson and become better next time.
To me youtubers and other social media influencers are just there to shill projects they are not scrupulous about. Many influencers are pure advertisers that shill projects not minding how genuine it is. It's only the newbies that will fall victim to shillers' contents. I once fell victim to this kind of trap before I discovered what it's entails. I wish I listened to some advices on here instead of relying on some crazy youtubers, my own crypto journey started with huge loss i hope I will make them back some day, if you are new to crypto do not take me step.
that's why it is always best to do your own research instead of completely relying on what someone says. these youtubers have their own agenda and helping the people who watch them is not always on their priority list.
I'm sorry about your lost in crypto but I believe you have learnt from your mistakes because the worst mistake is falling in to it again.
Experience is the best teacher
For every successful man and woman their must be ups and down.
I hope your mistakes didn't make you change your mind about crypto.
Experience is the best teacher
For every successful man and woman their must be ups and down.
I hope your mistakes didn't make you change your mind about crypto.
Stay away from YouTubers, articles, media - they add nothing useful.
Yes you are right it's just too late for me to find this out now but thanks anyway it won't happen next time, I think those YouTubers are also hoping that the coins they bought pumped in value using YouTube as the fake hype base.
Loan is bad for crypto unless you are a pro at investing and trading then you can try loan some times when you feel the timing is right but for someone who is just starting their crypto journey it's wrong.
A very deep and valuable experience. I don't know what made you make that choice at that time. But what is certain is that this is a valuable experience to be more careful in the future. Many people may also have similar mistakes with their own lessons. Me too. I also have several mistakes that I consider very meant to me. But, similar mistakes should be not twice done. SO, we must be careful and also smarter later so that we will avoid such mistakes.
This should be also about the learning process.
This should be also about the learning process.
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