I myself have suffered many setbacks at the very beginning of my earnings on investments. I did not have enough knowledge for trading and I spent a lot of money on it. And so since then prefer to invest in the long term. And now I really started making money on cryptocurrency. Therefore, it all depends on you.
Topic: I went bankrupt when I joined in cryptocurrency - page 9. (Read 2129 times)
This market is very insidious, and succumbing to the excitement you can really lose all your money. But if you stick to one strategy and weigh your every decision, you can succeed.
Never think become millionaire in just one night. Investment is very high game and i am believe its not wise to put all our money in single investment. Every investment have risk and we should make anticipation and research before investing our money
This is probably one of the worse mistakes that investors make, investing is a game that takes a lot of time and in which if you want to see good results you need to be ready to play it for a very long time, but people want immediate results, they want to earn a fortune in just a few weeks or months and even if you were able to do that which is almost impossible you will lose all that money if you keep investing. 
This is the story of many traders when they began to invest in different projects , but if a person entered into the cryptocurrency in August , the profit he received, because bitcoin began to fall after January.
Your story is kind of sad. Like everyone has said, cryptocurrency is a risky investment, you could lost everything in one night or you could gain thousands of dollars in one night. My opinion is that they've invested in a wrong time which makes them lost money. But remember, with this experience we will be wiser and more careful. I hope they get on their feet. Good luck to everyone.
I almost get bankrupt too ut when I realized if I still continue to invest then possible I'll lose all my money. Also I realize that its important to know if your asset has potential so that you might avoid losing money. And I think its better to know your investment first before you invest to. I suggest to you to learn from it and still continue but this time be wiser enough than before, so that you will not do the same mistake again.
Your story is kind of sad. Like everyone has said, cryptocurrency is a risky investment, you could lost everything in one night or you could gain thousands of dollars in one night. My opinion is that they've invested in a wrong time which makes them lost money. But remember, with this experience we will be wiser and more careful. I hope they get on their feet. Good luck to everyone.
Always have the knowledge of what you’re putting your money into.. and never go all in the first time. If he had prior knowledge, stoploss or USDT might have save him from much loss. Worst cases happen in Forex trading too.
How sad the story was, that is why the general rule of investing is never invest amount you cannot afford to lose. Always save some money for the rainy season. Never invest all you have so that whatever may happen you can still have enough money for your needs and for you to start again.
It's our fault to deposit all our money into the crypto and not to make a profit when prices rise. We are influenced by news and comments that motivate continuous rising. We can't sell at the right time and ultimately sad results.
Cryptocurrency is not a magic to turn your investment 10x in a few weeks. Why people have such unrealistic expectations from cryptocurrencies? Who asked them to invest their life savings and go whole in crypto? It is not wise for any investment asset let alone cryptos which are highly volatile and unpredictable.
There is no one to blame but yourself. Either understand the market or have patience by investing only the amount you can afford to lose.
There is no one to blame but yourself. Either understand the market or have patience by investing only the amount you can afford to lose.
such a heart breaking story, well in every sad story, there is a lesson to learn, and i guess you have learned yours, one lesson i pick from this story is not to be rational when dealing on crypto, yes some people became mllionaires in the past isn't enough reason to make passive decisions without careful study or rather mentorship from a professional in the field.I have been in crypto up to a year now, and all i do is bounties, still want to understand the market to some extent before getting involved in trading. Yessome friends of mine are making cool money in trading, but i wont let that influence my decisions.
There are many ways to minimize the risk of Bitcoin loss, such as splitting investment into various types of cryptocurrency. And you have to take profits in Bitcoin, do not be too ambitious in the crypto market. It is not a game and tomorrow you will win.
I think you just don't know the good and right way to do good and right trading. Maybe you are still very easily affected by panic so that it will make you lose and go bankrupt like that. Hopefully you can learn from the mistakes you've made.
First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
"In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.
And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.
And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."
And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.
What is your opinion of this story?
It is not basically the cryptocurrency must be blamed for your bankrupt because in the first place you have your own decision making upon joining into this. You must have opened up your mind with the risk associated upon investing into this kind of currency. Maybe also because you have mislead yourself comparing other's experiences with yours which is practically not all the same because maybe its effective to them and on your part is not or vise versa. But since you have still been holding for that long, better hold tighter and great thing will happen unexpectedly. "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.
And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.
And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."
And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.
What is your opinion of this story?
when you are trading don't be greedy and must always be careful when you are experiencing a price where down you have to prepare everything that happens
it also affects, but if I think that there is a lack of knowledge about the crypto world, most people who have not learned properly can cause loss and loss, because working like trading and investing is not easy and the risk is also great. 
And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.
What is your opinion of this story?
We must not expect too much in crypto. We do not know what may happen since it is crypto and it is risky. We must consider losing money even though we can also earn big amount of money in here. Entering crypto is not that easy, not that simple so be very careful coz in a blink of an eye, investments or what we've earn can be all gone.
I don't think so that crypto is responsible for bankruptcy because crypto makes people lives easier like many people are now dependent on it and they try to make money in it and if we check the millionaire they are also interested to buy crypto and they hold for long time period while in these days market is showing a fall which is the main reason that people are slow in buying crypto but still the market demand is high for bitcoin.
Complete bankruptcy was due to the fact that this person has chosen false values in his life. Huge wealth obtained as a result of speculation is very rare, and cannot be achieved as a result of playing on a long uptrend, as it was in 2017. In addition, we don't have to put all eggs in one basket and invest all savings in cryptocurrencies.
Many commit suicide because of investing in Crypto, and many become millionaires as they grasp the opportunities created by Crypto. In economic investment there are losses and profits, it can not all be profitable because it can not happen.
Gosh! Even when you lost everything, it is not the end. You have to be very strong to get up and start to move up again. I know, there are other ways to get the lost money back.
Cryptocurrencies is a dangerous world. I too have lost a lot but I hope now to recover my losses little by little. It has always been said that you have to invest only what you can lose. It's fortunately what I did. My children and our daily life did not have a negative effect on my losses. As a beginner we have a panic when the market price falls. That's what you should not do, as long as you do not sell anything you lose nothing. It will be preferable to have a notice to explain to us what to do and not to do but hellas this notice does not exist.
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