Newbies take my advice - page 2. | Bitcointalksearch.org

niisarearning

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Crypto market is high volatile if somebody following the future events , Believing the concept of solution provided particular token or coin and also we should find the active team , community support . then we can make some profit by holding long i mean ( Crypto holding couple of months consider as a long ) . As OP said crypto is high volatile . For holding long lendign or borrowing for interest surely make you panic you may end upto loss your money.

Greatdev

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This warning is strictly for Newbies just like OP says, newbies have too low experience about crypto and many of them don't want to learn first before chasing money, they invest heavily on coins with money they never owned, there is always lots of mistakes waiting for newbies in crypto space if they put aside knowledge seeking

bits4books

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Crypto is not a religion but i like it

Quote from: Bezobraznike on July 04, 2020, 09:39:22 AM

Quote from: bison on July 04, 2020, 07:39:40 AM

Quote from: bits4books on July 04, 2020, 07:27:31 AM

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

Bison, people who are doing this are people who are self-confident in their intentions. The same people learn from their mistakes,
after they make them. And we shouldn't bother about this, it's their thing what they do with their own life!
What is important for us it to learn from other peoples mistakes, and if we made a mistake to not hurt us too much. It's what we
learn and what we need to teach our children and close people we know.

But we are talking about newcomers who only yesterday knew about the crypto markets and cryptocurrency from some articles on buzzfeed and decide that they are " PRO INVESTOR"

bits4books

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Crypto is not a religion but i like it

Quote from: bison on July 04, 2020, 07:39:40 AM

Quote from: bits4books on July 04, 2020, 07:27:31 AM

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

Yes a lot of people think like this. All sorts of guys who think they are the smartest in the world. That they smart enough to trade with loan money. Sometimes they could even have several successful trades. They take even more confident in their victory and then just burn all the money and start whining:
- my God i loose everything and don’t want to live anymore.....
a stroke of genius no less

Danslip

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Quote from: mithun303 on July 04, 2020, 01:47:54 PM

For newcomers, i would say that it is better not to invest in the crypto market without proper knowledge about crypto market. But i was saying that newcomers should not come to this market. Before you come, you should know something about the market and take tips from big brothers and online.

l do agree with your words, newbies must learn everything about investing then they can invest in any project. That is why knowledge and experience are so important in crypto-world. You can analyze the situation and make research about the project, which you want to invest in. It can increase your chance for getting some profit from your own investment. But without that l can not imagine there can be any success, maybe 2 or 3 times you can win for you lucky, but mostly you will lose.

osasshem

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Investing in cryptocureency is a 50-50 thing, its either you lose all or gain all. It is adviced not to invest what you can't afford to lose, not to say, taking loan to make investment in cryptocureency is a hell of disastrous risk. Getting loan to make investment in cryptocureency if it goes bad, its a double lose to you, cause after paying back the loan, you're starting from square one again. NEVER TAKE LOAN TO INVEST IN CRYPTOCUREENCY rather, USE YOUR HARD EARNED MONEY TO INVEST. Stay safe.

coupable

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Quote from: VIP BTC on July 04, 2020, 02:00:50 PM

...borrowing money to invest in crypto is very risky, because the price of crypto is very volatile. If after we borrow money and buy crypto, then the price of crypto increases, then we can return our loan money. But on the contrary, if the price of crypto is down then our loan maturity has arrived, of course we have to sell the existing crypto to return the loan.
In this condition we will lose.
I think investing in crypto is with capital that is able to lose.

It's just like how it works in gambling or investing in ICOs based tokens, you don't have to play with more than you can afford to lose. Personally, i don't suggest users to borrow for those fields, as the risk is getting higher by the crazy volatility in price even if it goes higher for a certain period.
Seriously, i find it stupid to risk of getting a loan in order to risk twice in an unconfirmed investment .

VIP BTC

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

Yes, borrowing money to invest in crypto is very risky, because the price of crypto is very volatile. If after we borrow money and buy crypto, then the price of crypto increases, then we can return our loan money. But on the contrary, if the price of crypto is down then our loan maturity has arrived, of course we have to sell the existing crypto to return the loan.
In this condition we will lose.
I think investing in crypto is with capital that is able to lose.

mithun303

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For newcomers, i would say that it is better not to invest in the crypto market without proper knowledge about crypto market. But i was saying that newcomers should not come to this market. Before you come, you should know something about the market and take tips from big brothers and online.

Yatsan

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The basic and simplest thought of the OP would "invest what only you can afford" well that was already usual and I think a common sense that everyone must know because we all know that trading is a serious matter that you can either earn or loose your money. But most of the time the odds is playing on loose side most specially if you were just new into trading. So borrowing money is not really a great option to be done because it might just lead you into debts once the borrowed money have not been settled due to the reason that you fail on doing your trades.

If you really do want to try trading, be responsible enough to have your own money to start trading. Even small amount will do because it is still a price to take and you will be taking the risk to witness your money grow or die. Just always keep in mind that it is still best to trade by your own money so that if ever you fail on your trade, you have no other baggage on you thinking that you will just forget and try again for quite some time. Unlike when you borrow and loss, you were still going to think how can you be able to pay the money you borrow.

devil2man

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before taking a loan in altcoin, investing or do trading we have to think about it a thousand times and be sure of what we are doing otherwise we can risk big losses

Bezobraznike

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★Bitvest.io★ Play Plinko or Invest!

Quote from: bison on July 04, 2020, 07:39:40 AM

Quote from: bits4books on July 04, 2020, 07:27:31 AM

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

Bison, people who are doing this are people who are self-confident in their intentions. The same people learn from their mistakes,
after they make them. And we shouldn't bother about this, it's their thing what they do with their own life!
What is important for us it to learn from other peoples mistakes, and if we made a mistake to not hurt us too much. It's what we
learn and what we need to teach our children and close people we know.

bison

full member

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SmartFi - EARN, LEND & TRADE

Quote from: bits4books on July 04, 2020, 07:27:31 AM

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause news of another suicide. This is very sad.

who does something stupid like that? it would be better to sell the real assets we have than to have to borrow from others. it's like killing yourself by losing people's money. no one gives certainty that they will benefit in the time they planned.

bits4books

sr. member

Activity: 854

Merit: 264

Crypto is not a religion but i like it

It is a pity that people generally come up with such a stupid idea as taking a loan for cryptocurrencies. How many classes of education do they have? 1-2? I understand when people who are already established and know the market do this - they fully understand what they are doing and know what to expect but when a newcomer comes to the crypto industry with credit money… This will cause news of another suicide. This is very sad.

greenlanternlight01

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Quote from: Sourhearrt on June 11, 2020, 02:36:47 AM

Warning strictly for Newbies!!!

Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations Huh

Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head.

I totally agree with this. But who knows right, since most altcoins are somehow on the dip side, perhaps, having to try to invest just for an ample amount wouldn't hurt today. But of course, this is still my personal opinion and you shouldn't take my word for it.

filterMX

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beginners are strongly advised not to take loans in crypto investing because some investors who have long been involved in the crypto world often also suffer huge losses

bluebit25

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Quote from: Jonyshake71 on June 29, 2020, 08:38:33 AM

You have provided very helpful information mate. Newbies should never be greedy. They should gain the proper trading management knowledge first. After know well about trading, they can take loan but not more than their sustainability

In order to make a profit from investing in this market, they need a lot of trading experience. And if they invest without experience, they will definitely lose money, and I totally agree with you. They can borrow money if they have experience in this market

Gunday_07

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Crypto investment can be scary at times, it's a very good advice that newbies and others should invest only what they can afford to lose, the truth is there is no way to read the future of new altcoins to know which one will survive in two years time or four years time.

And again it's wrong to invest all you have on a single altcoin unless the Altcoin is a very popular top altcoin like NEO or EOS, if you are in for new altcoins diversity is the best strategy

Jonyshake71

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You have provided very helpful information mate. Newbies should never be greedy. They should gain the proper trading management knowledge first. After know well about trading, they can take loan but not more than their sustainability

totoy4741

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Quote from: slashz9 on June 23, 2020, 03:37:04 AM

well, actually it can be done or not depending on the situation and conditions many people see this opportunity in 2017 and try the next year, even though the market is still unpredictable, they think that the next year the market will rise again.
so the problem of borrowing money is not a problem because large companies that are developing must have debt.

I don't think what happened in 2017 will happen anytime soon and we can't predict what the market is going to be like in coming days so borrowing money is not advisable especially now that we are still facing some financial crisis due corona virus pandemic. It would take a little time for the business and financial community to ba able to fully get back on track so better look for an alternative solutions rather than taking some risk with any certainty.

Topic: Newbies take my advice - page 2. (Read 1802 times)