Is Investing into crypto really safe?

Manlikefrank1

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Quote from: KupaCrypto on January 08, 2024, 08:22:07 AM

Crypto currency investment na risky kind of investment, because Several risk dey associated to this kind of investment, crypto currencies dey very volatile, come dey make crypto investors more vulnerable to losses, but most persons no dey reason am , them invest in am heavily and most of them done cash out, and still most of them still loose money, crypto investment fit profit you or fit make you loose money before you close eye open, because the price fit climb or drop before you close eye open. E better to take the risk, but take the risk responsibly.

Investing in crypto is safe because it’s decentralized,
Transparency, security features, global access, diversification and technology innovation.

AVE5

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Eloncoin.org - Mars, here we come!

Quote from: Charles-Tim on January 08, 2024, 08:46:53 AM

The most important things to first know are the coins to invest on and the right time to buy. Some people will invest on a shitcoins while some people will invest at the wrong time. These are the two most costly mistakes someone that wants to invest on coins and tokens can make.

The recommended coin is bitcoin. Make further research to know some other ones. Last year has been the time we have been advising people to invest in bitcoin, but it is never too late for now.

You're right @Charles-Tim, when you stick to invest in the crypto markets by speculative influences and rumours without researches enquires to understand how reputable and reliable the coin maybe and ignores all that measures, of course you could end up being messed up. Wise enough keeping yourself off from the devastating shitcoins that you wouldn't know your state of stance then you must stick to Invest on the bitcoin digital assets.

Kingperry22

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Alot of post on the theead that i read talked more on the best cryptocurrency asset to biy which is Bitcoin because of the surge in it but failed to state one vital issue about the security of your wallet. Like we all know cryptocurrency is highly volatile prices fluctuate in the shortest period which makes it risky to invest.

Secondly, to the issue of cyberattacks on cryptocurrency exchanges and wallets. it is important to use highly secured exchange wallets if not your account might be hacked. Some reputable platform out there have secured their security by enabling using two-factor authentication to secure the storage of their users coins.

Gormicsta

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Well for me, I go say na yes and no matter be that because the yes and no get advantages and disadvantages. E good to save for Bitcoin o but your fit dey der, dollar drop and we know say dollar fit drop anytime and when e drop, we don lose the value of our money that is we dey safe for Bitcoin with $10 and we dey hope say by next week you won use the money and na that next week u go exchange am, so that by then dollar don increase and you dey hope say as at that time wey you get $10, say if you exchange am, e go fit come out like 15k to 20k for Nigeria currency o, so wen you ready now, to exchange am, the value don drop well, to the extent wey you go dey regret say if to you know, you for don exchange am since and we know once Bitcoin or dollar drop e dey take a while to increase no be e go tey o but e go take small time to increase so na so the thing be, na e make I say na yes and no answer depending how long you won use the money.

Kliss

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Investing in crypto can be risky, it can make you win or lose money. Especially when you invest in crypto that lacks transparency, unrealistic promises and exaggerated marketing claims. So invest responsibly, to invest responsibly in crypto Start small diversify and research well because these are the most common mistakes over investing, lack of research and following hype blindly most of these altcoins are over exaggerated. But investing in the right coins at the right time is important and to be specific Bitcoin is a good choice to invest in, investing in bitcoin can be profitable with lesser risk you just have know when is the right time to invest in it, Altcoins are riskier.

Y3shot

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Quote from: Zackz5000 on March 06, 2024, 06:12:58 PM

Crypto is not an investment where you rush into without getting full knowledge of it and inproper research, and also when investing into crypto let it be a long term investment and also have it in mind that there are two things involve when making investment expecially altcoin is either you loss or gain, to succeed in crypto you need to have full knowledge about the particular coin you are investing into. And again life it self is all about risk but let be a calculated risk when it comes to crypto investment.

Cryptocurrency is not safe for people who don't understand it. Rushing into cryptocurrency to invest is big risk that is why it is important that people needs to understand it very well before going into it . Without the right knowledge it will be impossible to invest in cryptocurrency. The currency is very volatile and one needs understanding to manage it very well so that their won't be lose of money .

Promocodeudo

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The only cryptocurrency that is safe for me is Bitcoin, I didn't say that you shouldn't invest in altcoin if you want but that will depend on your choice, but as for crypto generally bitcoin is the best, I always hear people say that investors should know when to buy, though thats a good advise but what if a crypto enthusiast wait for a long time and the price keep skyrocketing will he still wait or go in with what he has, I strongly believe that every investment is starts when you have the fund to invest, so I come to the conclusion that an investor can invest anytime to avoid using the fund for another thing.

Obim34

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Quote from: Gormicsta on March 07, 2024, 05:40:27 PM

Omo if no be say as our country dey do us yeye like this, I prefer to safe for crypto pass all this our bank them, if na only me and them, bank no go dey exist again, our government them won just comot anything way they answer crypto for our we country Naija but God no dey gree for them, e just dey pepper them for body as e be say some people no they reason government matter, like to dey find job opportunities even after person go school finish but person go still dey suffer. So as e be like say, some people don wise up, them don dey find means to dey earn for online where them go they received dollar, dey use dat one dey hold their side too, but e no mean side effects no dey as we dey save for crypto o, because if Bitcoin drop, our money wey we save their don drop too, for example if we get 5$ for their and Bitcoin come drop we go come get 4$ so na e be but even as that I find more safe and secure to safe crypto.

You should be more specific, you would prefer saving in Bitcoin or just any Cryptocurrency. Bitcoin should be the main course of saving not any coin, to avoid risking our money. One should be aware of the volatility in terms of saving in Bitcoin, at the time which the money is needed may now become lower than what was deposited, it may also be the other way round when profits is made from the savings.

Makus

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Bitcoin!!

Quote from: Barikui1 on March 07, 2024, 06:51:15 PM

Actually to me it's safe to some people, and not safe to some people because In this crypto space you only got what you deserve.

In the world of business, their is always a risk and the likelihood of you losing all your money, so that's why it's very much important you go for knowledge first, so as to know how to navigate your way in that particular line of business.

So if you are knowledgeable enough to know your way in the crypto space, you will definitely be profitable, but if you have no knowledge about it, their is a very high tendency of you losing your money, so that's what it is, so it's either you go for knowledge first, or your ignorance cost you dearly.

I can't say for sure that cryptocurrency is safe, let's call a spade a spade. Starting from wallets, we all know how dangerous it is to keep our seed phrase careless. Most times we even didn't plan for any disaster yet where we taught is safe for our seed phrase becomes unsafe. Let's just take for example, those leaving in areas where natural disasters do occur without their notice, like tornado, earthquake, rapid flood..... If paraventure they kept their seed phrase in a paper form and things like this happen, the probability they might loss their seed phrase and access to their wallet is very high, and we have been warned not to safe out seed phrase online.

Then when it comes to buying of crypto. The only factor that determines that we get profit from the coin is the volatility, at can also be a disadvantage to our holding. Currently there are many scam projects and after conducting your research and all of that, you can still end up buying a scam project, cause even those developers of scam projects try as much as possible to make sure the project looks legit and even pass through all the KYC and gets listed in exchanges.

Barikui1

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Quote from: KupaCrypto on January 08, 2024, 08:22:07 AM

Crypto currency investment na risky kind of investment, because Several risk dey associated to this kind of investment, crypto currencies dey very volatile, come dey make crypto investors more vulnerable to losses, but most persons no dey reason am , them invest in am heavily and most of them done cash out, and still most of them still loose money, crypto investment fit profit you or fit make you loose money before you close eye open, because the price fit climb or drop before you close eye open. E better to take the risk, but take the risk responsibly.

Actually to me it's safe to some people, and not safe to some people because In this crypto space you only got what you deserve.

In the world of business, their is always a risk and the likelihood of you losing all your money, so that's why it's very much important you go for knowledge first, so as to know how to navigate your way in that particular line of business.

So if you are knowledgeable enough to know your way in the crypto space, you will definitely be profitable, but if you have no knowledge about it, their is a very high tendency of you losing your money, so that's what it is, so it's either you go for knowledge first, or your ignorance cost you dearly.

RockBell

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Underestimate- nothing

Quote from: Zackz5000 on March 06, 2024, 06:12:58 PM

Crypto is not an investment where you rush into without getting full knowledge of it and inproper research, and also when investing into crypto let it be a long term investment and also have it in mind that there are two things involve when making investment expecially altcoin is either you loss or gain, to succeed in crypto you need to have full knowledge about the particular coin you are investing into. And again life it self is all about risk but let be a calculated risk when it comes to crypto investment.

The investment is catching but very risky, if you not prepared don't go into it, because you will just lose you money and that is what some people have heard and they are trying to avoid losing there money, but with the right knowledge you will do bitcoin and you wont lose your money. money understand things you suppose to understand and that way you will be free. and one of the easiest thing to do when your involved in crypto is for you to hold and people will want to trade and they don't have adequate knowledge to actually go into trading only few people like trading so for people that don't want to trade can hold. people do not want to lose all they want is to gain all the time and it wont work that way. there are days that you will win and days that you will lose so it is something you are suppose to have at the back of your mind.

Gormicsta

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Omo if no be say as our country dey do us yeye like this, I prefer to safe for crypto pass all this our bank them, if na only me and them, bank no go dey exist again, our government them won just comot anything way they answer crypto for our we country Naija but God no dey gree for them, e just dey pepper them for body as e be say some people no they reason government matter, like to dey find job opportunities even after person go school finish but person go still dey suffer. So as e be like say, some people don wise up, them don dey find means to dey earn for online where them go they received dollar, dey use dat one dey hold their side too, but e no mean side effects no dey as we dey save for crypto o, because if Bitcoin drop, our money wey we save their don drop too, for example if we get 5$ for their and Bitcoin come drop we go come get 4$ so na e be but even as that I find more safe and secure to safe crypto.

Zackz5000

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Crypto is not an investment where you rush into without getting full knowledge of it and inproper research, and also when investing into crypto let it be a long term investment and also have it in mind that there are two things involve when making investment expecially altcoin is either you loss or gain, to succeed in crypto you need to have full knowledge about the particular coin you are investing into. And again life it self is all about risk but let be a calculated risk when it comes to crypto investment.

Gormicsta

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Quote from: Makus on January 25, 2024, 01:40:41 PM

Quote from: Miles2006 on January 25, 2024, 10:14:45 AM

The only problem people face holding some altcoin is because of greed, taking advantage of the market is never a bad idea rather they believe the coin will experience a great and high potential, some coins are for short term investment not long term investment, if talking about long term investment you should consider bitcoin investment first.
Talking about the scam now, I don't think people still fall for their silly games and lie except the person don't know what to do and mostly newbies face this challenges of scam and hack cause they're not enlighten about bitcoin, people like this have enough chance to learn like e.g forums like this will always enlighten newbies about investing.

Newbies are not the only one who fall for those scams or hacks, especially hacks. Hackers don't plan on hacking a newbie, but rather they aim higher at those who have accumulated more coins over the years. That is, they target exchanges and other businesses. Just like one of the post boss Charles Tim posted, talking about a scam in binance exchange. Even an experienced user could fall for that scam. The scam is all about the scammer generating a Bitcoin address that look almost like your own, and keep it in a position were you can easily pick it up and use it thinking it's urs. And if you are not careful you might accidentally credit the scammer thinking it's your own address.

Yes, you're correct. while newbies are frequently intended targets for scams and hacks, experienced users may also become a target. You brought up the "Bitcoin address hijacking" fraud, which is especially risky as it's simple to confuse a slightly changed wallet address for your own. Wallet addresses should always be double-checked, even if you believe you are sending money to yourself. It's better to be safe than sorry.

teamsherry

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Bitvest.io★ Play Plinko or Invest!

Bro I would not say that your not right cause in general all investment bears its risk and we only do it because of potential future gain that we can see, and its good to make informed decisions based on performance of this asset that we chose to invest in, in our case bitcoin or any other crypto currency, since its been generalised I won't use the stats of one to cover all, but I'll say that it all matters on your approach, there are many successful investors in the crypto industry and history and they all have one thing in common they were long term holders, so I'll advice you to follow long term holding if you want to make profit from crypto with little stress on your emotions about risk, cause as historical performance permits, crypto currency and assets in general gains value over time or lose value over time and there are many factors that cause this, and one of them is scarcity which bitcoin is a very good example, with only 21 million total supply, but would continue to be scarce as time goes on, so if you want to invest chose bitcoin and for sure as a long term investor you would be on the winning side

Biggeno

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I like the fact that you said it all without been bias, like some people who only would say the benefit of the subject matter, but even as at that I would love to add to what you have already played on, cryptocurrency investments been risky is just like every other business that also suffer from high chance of profit and loss, but where I feel most individuals get it wrong especially most of our Nigerian brothers and sisters is that they fail to do proper market analysis before they jump into it, most of them just want quick money and they are usually filled with greed and pride.

So when they hear about a business model they just want to heavily throw all of there money into it without understanding what it is all about and at the end of the day they start complaining that it's a scam or the system doesn't actually work, i just wish people go through things before they engage on them.

Y3shot

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Quote from: icebar on January 31, 2024, 06:31:17 AM

Purchasing cryptocurrency requires extensive knowledge, so proceed with caution; investing without this knowledge will put your money at serious risk. You must adopt distinct investment methods and certain investment times. Your investment will be riskier if you are unable to purchase the proper currency at the right moment. Thus, your investment method will determine how much risk you assume. There is increased danger when making short-term cryptocurrency investments. Thus, you have to make long-term investments. Furthermore, investing in cryptocurrency requires taking a risk. Investing in cryptocurrency requires accepting risks. Thus, you must make cryptocurrency investments.

The first investment one should think of before acquiring cryptocurrency is knowledge. You can do without knowledge when dealing with cryptocurrency, knowledge will determine if you are in the right investment or the wrong one. I think people what people needs most I crypto is knowledge, the lack of knowledge has really made so many beginners to lose their money just because of too much desperation of making money quick from the Market.

Gormicsta

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Quote from: KupaCrypto on January 08, 2024, 08:22:07 AM

Crypto currency investment na risky kind of investment, because Several risk dey associated to this kind of investment, crypto currencies dey very volatile, come dey make crypto investors more vulnerable to losses, but most persons no dey reason am , them invest in am heavily and most of them done cash out, and still most of them still loose money, crypto investment fit profit you or fit make you loose money before you close eye open, because the price fit climb or drop before you close eye open. E better to take the risk, but take the risk responsibly.

E dey good to know say crypto currency investment get risk, because lots of different risks dey associated to this kind of investment, crypto currencies dey very up and down, e dey make people wey dey invest dem money for crypto, dey vulnerable to losses, but some people no dey reason am, dem dey invest heavily, and some people don cash out, and some other people don lose money, if person wan invest money for crypto, e dey better make dem know wetin dey at stake, and manage the risk properly

icebar

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Purchasing cryptocurrency requires extensive knowledge, so proceed with caution; investing without this knowledge will put your money at serious risk. You must adopt distinct investment methods and certain investment times. Your investment will be riskier if you are unable to purchase the proper currency at the right moment. Thus, your investment method will determine how much risk you assume. There is increased danger when making short-term cryptocurrency investments. Thus, you have to make long-term investments. Furthermore, investing in cryptocurrency requires taking a risk. Investing in cryptocurrency requires accepting risks. Thus, you must make cryptocurrency investments.

Promocodeudo

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Quote from: KupaCrypto on January 08, 2024, 08:22:07 AM

Crypto currency investment na risky kind of investment, because Several risk dey associated to this kind of investment, crypto currencies dey very volatile, come dey make crypto investors more vulnerable to losses, but most persons no dey reason am , them invest in am heavily and most of them done cash out, and still most of them still loose money, crypto investment fit profit you or fit make you loose money before you close eye open, because the price fit climb or drop before you close eye open. E better to take the risk, but take the risk responsibly.

The most important thing to do an investor is to have a good knowledge of crypto in general and be very conversant with the particular coin you are investing in, no matter how risky a commodity is, your first approach determines your continues existence in such investment, you don't just wake up and see a coin, then decide to invest immediately without make thorough research about that coin, the crypto market is different from our usual goods, you have to study the potential profit attached to any coin before investing, the fact is at this point crypto market is not understand so investing in new projects without a good information about them will amount to high risk.

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