Topic: What was your biggest fear with starting in crypto? - page 2. (Read 784 times)

The biggest fear when I started investing in crypto was losing money on the investment I made. I feel that the crypto investment that I did at first will not get any profit, because I only see short-term gains. When I made a long term Bitcoin crypto investment I felt that this profit was extraordinary. The fear that initially made me doubt, finally made me believe that crypto provides bigger profits. But the risks that will be experienced are also greater, so you have to be more vigilant with crypto investments.

I was a victim of online scams too before I got to know about Bitcoin. People that surrounded when told me that I should be careful when I've discovered Bitcoin but I told them that it was different that time and it's unlikely a scam wherein I was too naive with those scams that victimized me and I was younger.

Sadly, it's common in the internet and there's the negative thoughts about it when people talks about crypto. It should be for everything online and crypto was just exploited by these scammers.

My biggest fear in starting crypto is getting scammed, I've already gotten scammed and rugged a lot of times before and it makes me feel bad and felts terrible, well scamming and fraud are really common in this crypto world so always be careful on that and this is a really common experience for a beginner so we should learn a lot of things first before we try something involved a money.

The barrier I had that prevented me from investing in Bitcoin initially was my mindset. I thought that I had missed the train so I opted for a shitcoin because I thought it was going to make me a lot of money in the shortest amount of time. I sold my car so as to have enough funds to invest in the shitcoin which they promised was going to the moon. It didn't. I lost everything. It wasn't until I decided to do my own research. I read some Bitcoin books for beginners, watched a lot of Crypto YouTube channel, listened to podcasts and engaged actively with other Bitcoin enthusiasts that my mindset began to shift and change.
When that happened I bought a small quantity of Bitcoin and started to invest in smaller units monthly.

Guy, na you be the real OG but after you will sey I'm the wan 🤗.

I believe those of us who got here pre–2018 all suffered that same fate. It was mandatory for us to learn through the reality that it's not all rosy in this industry. You win some, you lose some. I remember believing all the shitcoins (it was later I knew what that meant) that I bought  at $0.000001 would do half as much as Bitcoin was doing in price, at least 😆.

You're right about MMM. However, I didn't get involved in that because I saw the module as "robbing Peter to pay Paul" type of arrangement and that was why I stayed out of it. There was no real business transactions with MMM. During that same period other similar Ponzi schemes also sprang up in the country.

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My early experience of Bitcoin (first heard of Bitcoin in December 2016) was that of curiosity and not scam. I was really fascinated about its price of how it "dusted" the dollar with so much gap. Bitcoin was slightly above $700 then. It was that perplexity that drove me to digging about it and then I stumbled on this forum through the CMC.

"MMM" made me to believe that all online investments were scams. After a lot of people lost their money to the ponzi fraudster. In fact i had that fear until I joined bitcoitalk and began to have a better understanding of bitcoin, that first it is legit and not a ponzi scheme. So I'll say my greatest fear was getting scamed by someone that I haven't seen before and I can not sue.

I can clearly remember how I felt, but if I were to imagine myself in that situation, I'm sure I'd feel anxious. Whenever I attempt something new, I'm always curious to see how it turns out. Going on the air was just another chance for me to spread the word about how incredible this innovation is as I progressively tried to contain my excitement about being involved with cryptocurrencies and, more specifically, was looking for ways to educate people about the entire process. Even after that, I still need to continue learning, especially from forums and research. Knowledge is essential for success, but the biggest issue is maintaining security in any environment where money is involved. Scams are also not far from such environments.

To be honest, it’s the fear that crypto investment will eventually turn into a scam like most investors online have experienced. That’s the reason why I seldom invest online, same with the reason that I have known from my friends and colleagues. I have only started to invest in crypto when i read some positive reviews that it took me some courage to try and invest for just a small amount. And when it worked, my faith has been deepen that I started to trust crypto more and increase more of my capital.

Yeah. I guess it's all for the money? Those people just gotta scrape the bottom of the barrel just to make something new for the audience. Can't do anything about them anyway. There would still be pro and against Bitcoin regardless on how good of a technology it can bring to people who does not want any authority being involved with their money.

Some would not trust it at all like why would you not trust something that does not have any authority anyway. It's just like the usual Apple and Android hates.

You’re not alone mate. I was also same like that when I started investing in bitcoin. There’s always this fear of losing my capital once bitcoin investment turns into a big scam knowing most of the online investments that time end up as ponzi schemes. However, I managed to take the risk and overcome my fears. Yes, I always believed DYOR is the key, without it bitcoin investment will still fall into gambling.

This is kind of similar to me when I know about Bitcoin and didn't invest in it because what I did before is join bounty campaigns which I did earn money and that's why I didn't invest in Bitcoin. The other reason is that I don't have much knowledge about where to invest and what I should do when I have money to invest. During that time, I didn't regret joining bounty campaigns and trading because it is the reason why I was able to earn $2000 which is a lot of money when it is converted to my local money.

To be honest I got involved with Bitcoin many years ago.  Even my friends around me didn't know much about Bitcoin then too. and then the price of bitcoin was not as high as it is now and also bitcoin was not as popular as it is now so I was not too interested in investing in bitcoins. and that's why I invested some money I had in Bitcoin without borrowing money from anyone. my first bitcoin investment amount was only $10 and this amount was huge for me then. this was my first bitcoin investment budget

It is quite difficult to examine about the fears you are facing with, sometimes these are the decisions you choose about to unlock your assets and sometimes looking forward to. I didn’t face something else like that, because I believe that this is not fear, these are the challenges of your road map and you should choose the right way. Trade in any crypto is really a technique to earn some profit using your trade standard coins.  As a beginner, put a little effort into developing your skills and making a study of the market before determining what is happening. Learning with experience and mistake also help you for your next intake in the forex exchanges

They don't know anything about bitcoin and they just base those misconceptions from the news that many has been scam due to investment schemes so they assume that bitcoin is included on scams. If they could just do deep research about it for sure they will never call bitcoin as scam but rather a currency or a technology which us good to adopt.

But we can't force those people to believe on those so maybe let them discover and prove that they are wrong about what they say about it.

It is not just one thing preventing them from investing, my friends all have different reasons, some is because of fear of being scammed after being victims of thieves online before, they have not been able to overcome that fear and move forward. I have another who knows about bitcoins but say she does not have enough money to invest for her basic needs so does not have to invest. I met someone who their own barrier is not money or fear of being scammed, but just that they do no believe bitcoin will do well for investment so they have invested in other things. Another person is  lack of enough knowledge sufficient to invest. Many people have their reasons, but it takes personal effort to overcome the different barriers.

The reality is that nobody want to lose money, so my fear then of not losing money has kept me away from Bitcoin since the first time I heard about it because many people claim to be losing money online, and I have therefore perceived it as a scam. However, after meeting with some of my friends who are in the cryptocurrency industry, who were able to explain it to me in greater detail and provide me with proof that they have been in the space for a long time and make me understand Bitcoin is not scam,before I was able do my own research and found out the true about Bitcoin before I start to invest in Bitcoin.

Many people that are yet to adopt and invested in bitcoin and they have heard about it, they fear is that they don't want to lose their money.so with that fear they never interest in doing their own research to found out the knowledge.

Adding up to this, people and the media seemingly have the misconception of Bitcoin itself being a scam. I also blame myself to be fair of thinking Bitcoin to be an illegal coin before but that's quite a different discussion.

News media commonly see Bitcoin as like a scam whether as an investment or even as like a digital money and it is quite sad that they don't realize that even paper money is being used to launder money and do crime activities. :/

What prevented my friends and relatives from investing in crypto from the beginning was the fear of losing everything. When one doesn't actually know much about something, they will try so hard to avoid those things they do not understand. They lack all the knowledge it takes to understand what crypto currency is all about, and all this crypto currency stuff was just like a scam to them, adding to the fact that it gained popularity in my locality just after the collapse of some Ponzi scheme.

Personally, I gained interest in crypto from the very beginning when I started running all sorts of airdrops. 1 out of 20 might actually be what sometimes gave me some couple of dollars, which was just like a total waste of time, but I later realized there was more to crypto than just doing airdrops. That was when I started planning on how to get a few and hold for myself. The greatest challenge that I was facing was financial, which took me quite some time to finally squeeze out a few out of my monthly salary from my computer operator work. I was very comfortable using and holding my crypto with my etherwallet before all kinds of hack news and all that started spreading online. I actually lacked a lot of knowledge regarding how my wallet works, so I sold out my eth, which I was holding back then, in order not to be a hack victim.

If we are, to be honest no cryptocurrency investor never had a form of barrier when started the crypto journey. The barriers I have when it all started is that I don't learn about crypto through BTC, I learn it through a shitcoin which all quench off the market and I almost lose hope have the feeling that crypto is a scam until I try again.

Lack of experience and lack of money was my reason for not investing in Bitcoin from the very beginning when I joined the industry back in 2015. I wasn't capable of sparing the money that was needed to buy as Bitcoin as them I was a very youny man that was just struggling to get food to eat and was schooling at the same time and taking care of myself all alone. Things will be different now if I was just starting because the means to generate the money has been known. Also lack of experience played its role because when I finally had some spare money for myself I didn't invest them wisely and lost majority of them in the 2018 bear market.

I never for one day believe the stories of Bitcoin been a scam, I even got to know about bitcoin from a ponzi scheme (called MMM) that took over my country and every young and old then was caught in the fever. Before then I never knew anything like investing so Bitcoin caught my interest and I to this day, it has had many impact in my life. I don't regret any decisions I have taken upto this day because they all taught me a lesson and all part of my story. I won't do things exactly the same if I had a second chance to start all over because the experience I have gathered are very valuable and I believe they'll help me in the journey ahead.