Topic: I went bankrupt when I joined in cryptocurrency (Read 2138 times)
I'm sure many of traders around here share the same story but people should really plant this idea on their brain that "what if" situations. This situations applies in everything like millenials dreaming to be a famous celebrity, actor, singer or youtuber and then they spent money, time and effort and they did not succeed as if nothing has worked for them. I know crypto is much more risky but that also means you should have a better back of plan that those.
I am sorry to hear that. I just want to share that AML BitCoin cannot be stolen. AML BitCoin rests on a privately regulated public blockchain that facilitates AML-KYC compliance and identifies criminals associated with illicit transactions while maintaining and strengthening the privacy protections for legitimate users.
From different experiences that i read online about cryptocurrencies, they all have common reasons why. One is the incorrect management of their assets that comes from the wrong decision-making. Others also are in the wrong time investing like just when bitcoin hits 20,000$ last year but eventually falls down to 6,000$ now.
Greed overcome you and force you to make a very stupid decision without knowing the risk you are involve on. Now you just can blame cryptocurrency for your stupidity. That why lot of peoples not just jump in cryptos just like that without learning and knowing about cryptos first. Dont be lazy to learn something. Regret later are not useful already.
You went bankrupt when you became greedy and not when you entered crypto. The desire to get rich quick cost you. It is an advice to similar persons.
Don't blame the cryptocurrency when you go bankrupt, your steps and your decisions that are definitely wrong. That is why understanding before plunging is very important because we will not know the market conditions that change at any time. I hope that the first failure you make a lesson for be better in the future.
You have said it all. When you allow greed to take over your reasoning, there is no how you can make a good investment decision. All you will be bothered about is how to get rich overnight. People refuse to change despite the warning that only spare money should be invested into cryptocurrency.
Not all people will really have a good story with cryptocurrencies because it depends on your decisions being made and that's how investor's story are made. If you are just always making good decisions, then you will probably have good story to be told.
the decisions that were made yesterday were the best at that time, today can be very bad and bring a loss. the market is changing too fast.
This field works how all another.
Someone must lose for income others.
Cryptocurrency investing meaning hold your moneys for long time if you not understand rules of cryptomarket
Someone must lose for income others.
Cryptocurrency investing meaning hold your moneys for long time if you not understand rules of cryptomarket
Good one and never give up is the answer to the cryptocurrency challenge, many sold in the middle of dip and thought this is the end which is the best mistake they will ever made , this is the best time to buy more and wait patiently for the best time to come .
if you intend to want to trade, you should not invest too much in bitcoin because of the sharp risk of falling prices. if you just want to trade, try altcoin with less capital. even though the profits earned are not too large, at least you don't lose. I always make small purchases on ripple or cardano.
altcoin and bitcoin are dangerous it can make you rich but it can make you bankrupt, when my friend want to investing in cryptocurrency with all their money i tell them about the risk and at the end they just investing 25% of their money and they get loss so if you want to invest in bitcoin think twice
In life i believe that we have a different feild and I think if we are not fit on crypto feild we needbti find another job for good. I see that there are so many people gain on this feild but some other get loss because they are not lucky on this feild. I think patience is really needed to gain on crypto.
I feel sorry for the husband in the story - although I heard a lot of similar stories already.
Then hopefully people will learn some lessons from this.
Rule of thumb for myself:
1. never invest more than you can afford to lose
2. dollar cost averaging
3. buy and hold the Bitcoin throughout the Bear market
4. Be patient, very patient. Treat Bitcoin as a store of value instead of an investment that can make you rich quick.
5. Believe in the Bitcoin on that it is a revolution in human history that people can fully control their wealth, instead of through banks and governments
Then hopefully people will learn some lessons from this.
Rule of thumb for myself:
1. never invest more than you can afford to lose
2. dollar cost averaging
3. buy and hold the Bitcoin throughout the Bear market
4. Be patient, very patient. Treat Bitcoin as a store of value instead of an investment that can make you rich quick.
5. Believe in the Bitcoin on that it is a revolution in human history that people can fully control their wealth, instead of through banks and governments
It is really a sad one. I have a story close to this as it was the wife's had earned savings that was invested into the cryptocurrency investment. The investment is still hanging at the moment and the only glimpse of hope to get part if the capital back is when the whole cryptocurrency market picks up again.
I would advise other persons not to be so carried away by the juicy profits and then putting ALL they have saved into it; it's not wise at all.
I would advise other persons not to be so carried away by the juicy profits and then putting ALL they have saved into it; it's not wise at all.
Well, that's why it is always recommended to invest only which you afford to lose, and especially if you are going to invest in cryptocurrencies. It is already known that this crypto market is really unstable, and the level of volatility of this currencies is high. You haven't another choice actually but waiting until the prices go up again.
The loss will always occur in the crypto world so you should look for something more thoroughly to see if the coin is worth investing long term.
In my opinion, like a business, the choice of an investment is only profit and loss, so we must prepare for both risks, and it must be remembered that smart investment is an investment that comes from savings. Selling valuable assets to turn them into investments in crypto form is not wise unless we are ready to lose them because the cryptomarket is a complicated playground, prices can rise and fall very dramatically,
Invest only what is more than your income and stay away from greed. Adequate income must always be a standard.
Invest only what is more than your income and stay away from greed. Adequate income must always be a standard.
Well every investment platform that you join has its own risks and i am sure he/she was definitely aware of the volatility of cryptocurrencies before he invested into it. Moreover sometimes we should really do a little bit of research into our investment portfolio before taking any decision to invest so that we don't lose our funds.
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