Topic: What was your biggest fear with starting in crypto? - page 4. (Read 784 times)

Fear of the unknown was my challenge. Back then when Bitcoin became rampant in 2010 ponzi and many scam projects were also hovering the internet so the fear of going for the wrong investment became my biggest challenge, I still ended up falling for many scam projects and ponzi but that also opened my eye to understand that research is the key base for making any investment and not until i read Bitcoin white paper to understand what the coin is all about i was still in doubt of Bitcoin. But the paper made my doubt vanish.

The most difficult thing is to start buying, and decide on the storage method. When I decided that I would store bitcoin on a hardware wallet, it was a difficult time to start buying, but in the end I decided for myself the level to which I would buy and try to do it every week, or every few weeks.

You should have a clear plan for how you will act in different situations. Think it through ahead and just follow it.

Can't really say but as an individual there's always something trying to push us back even if what we're planning to get is profit, is like a force depriving us from achieving our goal. Well, the fear of missing out on that potential profits can lead one from making that impulsive decision, such as investing more than they can afford to lose and sometimes the fear of missing out FOMO is frequently heated up by social media and news coverage about Bitcoin and other cryptocurrency. With the way Bitcoin prize is going I believe we have those who are still afraid of HODLing.

Your friends who are afraid of fluctuations are those who are weak and do not know anything about crypto. Even though price fluctuations can be utilized properly to take advantage. If you only think about the risks, then there are many risks that will occur. Such people will be easily affected by FUD and choose to no longer trade in crypto, but when prices rise and continue to rise they are also easily affected by the FOMO effect and buy at high prices. This also relates to a person's mental problems.

Honestly, it was all about the early days when people were talking about that Bitcoin is only a tool for illegal trades, drug deals and all of those stuff. But after having that cleared thought and did a research as well, digging in the past isn't important.

What's important is foreseeing the future with it. Well, all of them, none believed me and it's just me that continued and it is my thought during the early days.

It was also taking risk, a lot of risks because it's still new and only a few have believed and those that have done the same will say that it's worth it.

I can tell you a hundred reasons I've heard and noticed with people in my circle but Honestly bro there was nothing that even stopped me even a bit from jumping into this field because even I didn't notice when I jumped into the market.

Because I've entered the crypto market unknowingly your student life. Hustle to make a few dollars and manage to boost my pocket money and show up in front of friends, this was the reason I got into the crypto market. Unintentionally after making mear efforts on Youtube, Facebook, and Blogging, I decided to join marketing then from some native YouTubers I got an Airdrop opportunity in the Blockchain wallet Airdrop was of XLM and I really got 25$ That was the happiest day of my life on those days Alhamdullialah after that I got many as well. After joining 6 months of scam Airdrops on Telegram I decided to quit and I did it. A few months later I got an email from the project HEX that "Airdrop has been distributed to your provided wallet" and then I started checking my Aidrop wallet and came to know if I got any tokens some are worth a few cents and some are few dollars but HEX was within $9. something. Luckily I was not sure how to withdraw and I never learned it for a few months again then when it reached around 30$ I decided to learn how to withdraw them. After that crypto became an important part of my life.

I didn't face any fear because I never took entry as an investor in the market, I learned and educated myself and now I am a minor Trader, Investor, and I don't know what to say more. That's all thanks if you are reading my story -Hamza

In the past, my biggest fear about crypto is losing money due to high volatility of Bitcoin and other coins and tokens, but that happened because I lacked the knowledge about how crypto market works and once I embark on the journey of getting more exposure and learning more about crypto I came to understand that it's all my fault.

There are times to invest and there are time to stop buying, when the market is pumping it's already too late to buy, the earlier you get into the market when fear and uncertainty is going on the better, you've secured a better space for your portfolio and you will reap good profits if you have enough patience.

The most important point that has occupied my mind since I entered the crypto world, whether before or during the first investment, is that Bitcoin loses its decentralized properties, according to what is determined by the Satoshi protocol. There are central actors in the field of crypto, such as the few mining companies that only two or three of them monopolize the entire market, and such as the trading platforms that establish a centralized system for crypto that contradicts the most basic principles of privacy. Fortunately, there are good developers working for the bitcoin community and support decentralization and privacy.

When I started in crypto I had almost zero savings and no job, so the risk of losing the little I had was compensable by the hope of multiplying it. In addition to that, I invested primarily my time, because I finally took this as a hobby, so the potential loss was even lower.

The few times I talk about crypto with friends or relatives I'm aware that they won't have my interest on the topic, so the only way to enter here would be with their hardly earned money, and this is why I have never encouraged them too much. Like one friend of mine used to say: "because, if they lose their money, they will blame you for it, and if they win, they won't thank you...".

Of course, the biggest fear for newbies, and it's better for them to be cautious, is to be scammed or lose all their money out of ignorance.

Not actually they are looking for safety but rather for big profits since most of the time we see so many scam victim which target big profits this is why we see a lot of them get scam by hyip or any investment platform since they had been deceive that they can earn decent money by just putting money into their platform.

Even by know this exist and many people still fall on this trap since greed of money lead them up to go on this situation.

Yeah people are looking for safety, not risk. Only few of us would truly risk something. If Bitcoin didn’t always have ATH after ATH, many of those replying in this thread would be doing something else instead of posting here and believing in BTC. So it shouldn’t be surprising, this is a natural thing apparently, many of us are just scared of uncertainty.

Personally, I have never hesitated to invest in Bitcoin since the day I first learned about it. The concept of digital money resonated with me and after extensive research, I became a Bitcoin fan. From the beginning, I believed that Bitcoin had the potential to gain a crazy value in the future and that belief has proven to be true.

I'm grateful that I discovered Bitcoin years ago unlike some people who only recently learned about it when its already expensive for some now to invest. I feel like investing in Bitcoin early on has provided me with advantages that newbies may find challenging to attain due to the current high price of Bitcoin.

For the OP question, I feel that some people's hesitation to invest in Bitcoin comes from a fear based mindset which leads them to believe that Bitcoin will be destroyed by the government or that it's simply a bubble. These people may not fully understand or have explored Bitcoin in depth which contributes to their skepticism. It could be a result of their passive approach to learning about crypto.

The very first time I have bought cryptocurrency was a purchase by credit card. So my biggest fear was to type cards data on a exchange webpage. As a newbie, when I did not know anything, it was buying air with real money. I was sending money in exchange for pixels. All those internet stories when scammers steal cards data and funds only worsen situation. That time it was my only card with all my savings.

When I started back in March 2020, the prices were way down so I thought this thing is crazy and is the best time of the year to invest. I was also worried as the covid was about to spread and my university was closed and we were asked to study from home. So I gave it a go, put some amount that I had with me into BTC and here we are today. I have been in the ride from $6k to $69k, that is almost 10x and it's really crazy where It can go in upcoming years.

Initially I was really misinformed about bitcoin and cryptocurrency entirely, I thought it was a ponzi just like Mmm, but I never knew what it's really entails, my ugly past experience of ponzi scheme really make it very had for me to even consider it at the early stages of it development, but know I feel ultra confidence about bitcoin because I believe it is the future of money.

Oh, they're all actually so excited to know about cryptocurrency, especially Bitcoin, after knowing I could gain some money from here. But, unfortunately, they just want advice on which one they can buy to make a lot of money without wanting to learn the fundamentals first. I always share some basic knowledge with them, but without a strong will to know more, I think it won't work well. I not only share the sweet side of this field but also the bitter side, so they know they can fail too. Probably, the uncertainty, volatility, and difficulty to analyze compared to stocks are some of the reasons why these people avoid jumping in. While I personally jumped in 2016–2017 when Bitcoin was beginning to get hyped, I'm curious but also anxious about this new thing because it's not familiar. I thought it was only a money game, but then I found interest in learning it further from YouTube, and here I am, still kicking after a couple of bear and bull 

When I first heard of Bitcoin, I dismissed it right away. I didn't even try to get to know it. And then I heard about it being a digital currency of sorts and I wasn't at all convinced. Who in his/her sane mind would risk his/her money for something like that? It doesn't have any kind of guarantee or insurance. Doubts abounded. I also knew it had a good price run but not being anchored on anything makes it a castle built on sand. It could fall just as fast. It was a house of cards.

It was only when I started reading about it that I got finally convinced. The word decentralized was very interesting and attractive to me. I am not a technical person but I appreciated how those who thoroughly understand Bitcoin made it appear as if Bitcoin is invincible.

in last 5 years i was hesitate to invest in crypto before that so my friend also involved in this industry to make huge money that is why i was decision to invest money to trade with small amount . so on that time my experienced was bad but time to time i did to try yourself empower to learn about blockchain to goes in right direction. now iam profitable Trader. so i will suggest you to make investment with high potential projects

Not only your friends, but my friends also feel afraid about the price fluctuation in crypto. They can't imagine if the prices always decrease after they buy some crypto coins. That happens because they don't know the whole side of crypto world. Most of them only view the risk side, they never learn the potential profits of the coins. They also don't want to try learning how to deal with price fluctuation, so they don't have an idea that crypto investment has a positive side. Moreover, there are too many FUDs spreading about the negative sides of crypto. People who don't know the truth about crypto, will instantly trust the FUDs.

Regarding intangible currency, modern people shouldn't be worried about it. We are already familiar with digital currencies, it is not so different with crypto coins. The difference, legal digital currencies are made by the governments and they are centralized. The government fully controls and manages the legal currencies. While most crypto coins are decentralized currencies, so the government can't control or manage them.

At first, i'm hesitant to engage myself in crypto due to my past experiences. I got scammed from my previous investment online, the reason why it's not easy to trust again. But as time goes by, after learning about crypto particularly Bitcoin I proved to myself that it is different to the investment that I joined before. The doubts and worries were replaced by optimism after I experienced to profit with my investment, even it takes time.

On the other side, the common barrier on why some people are not investing in crypto is lack of capital. Even they gain knowledge and aware that it is profitable, lack of money that is meant for investment is a hindrance to engage themselves.