Topic: Why Crypto may go wrong for some people - page 3. (Read 835 times)

Investing in crypto currency is not right for those people who know nothing about investing and only think about the positive aspects of investing. Maybe the person currently has money, so he is thinking of investing his money only to increase his money, but he does not think that if he invests, he can increase his money as well as lose it. There are some people who don't like to take risk and for those people it is better not to invest in crypto platform. If there is a tendency to take risks, thinking about investing without having a good understanding of the market, getting anxious if the money is slightly damaged, those who have such qualities should not invest in these platforms investing in these platforms will not be a good decision for them.

For Bitcoin it is not only interesting in terms of its use, but also interesting to make it as a future asset because Bitcoin has been liked by many people so it has provided a good opportunity for everyone to own it from now on. If you are a new person here whose name is directed to Indonesian territory, you only need to protect yourself and the assets you already have from the traps set by other people.

Even though people are usually new to the world of digital money, they are still reluctant to make large purchases because they may not know which cryptocurrency to buy. But you don't need to worry about that, because as long as you are not so trusting and willing when someone asks you to follow something or invites you to do something, you will never fall into the Batman trap that you meant.

Do your friend think that Crypto is a get rich quick scheme? Do he have any idea about coins or tokens? Do he have any investment strategy or knowledge about researching a cryptocurrency before investment? I don't think he have. None but beginners who don't have much knowledge or want a quick profit invest in suspicious tokens and these tokens can be manipulated or team can dump it's price. So it's obviously a bad idea to invest in a risky token or investing a huge amount in a single token. You have to divide your total investment in some of potential coins or tokens. I will always recommend only top ranked coins or tokens to invest for long term. One more thing, Without research or strategy crypto investment is more worst than gambling but they are different sector.

Gaining success in every sector is difficult for lazy people. We must have proper knowledge about where we are investing or what are the advantages or risks involved. Everyone can easily gain knowledge about cryptocurrency or any investment from here or YouTube or articles. It's better not to be involved where you don't have at least basic knowledge.

Haste is a bad ally in many ways, especially for beginners to cryptocurrencies. Instead of doing fundamental analysis before buying, they rush to follow some advice, or just buy some coin at random, because it seems to them a good deal.

But it doesn’t work like that, if you don’t have the necessary knowledge and experience, then you can’t expect a positive result. And the reason here is not that cryptocurrencies are not for everyone, but that before you start investing in anything, you first need to figure out very well whether now is the right time to buy, you need to have a plan of action in case the price starts to fall, and know when to sell. If all this is not there, then most likely a lot of mistakes will follow and, as a result, a loss of money.

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

There is no wrong with crypto but there is wrong with your friend and the way he enters and buys tokens. I suspected that he bought scam coins and it was not a surprise from losing them.

I do believe that someone who knows about how crypto works will never compare this to gambling. And from what you have heard from your friend, it tells us that he never does research prior to investing. He probably jumps on it without knowledge and then blames crypto for his mistake.

 - what we did is the result of our doings and if we are too careless, then we can never expect positive outcomes but surely negative.

Very often I hear about it and pay attention to it. I personally see this especially for people who like and want to learn trading, especially BTC, they will quickly connect, they will continue to dig up good and correct information. This is driven by curiosity and care. But for those who are already skeptical, he will continue to say that. Yes. That common thing.

For the application, I agree and support what is conveyed, enter first and then we will know how this crypto works, don't say it right away and the verdict in language that is not pleasant for us to hear "It's like gambling". For me, there is an art of trading which, if you look at it, is easy, but we are always invited to think about it and exercise patience in controlling our emotions.

They only think about results, not a process or what could be the trigger to be able to produce. found the fact that many beginners do not know the basic science of trading and investing and they fail to do research. it will certainly have an impact on the investment or trade made. It's not just a matter of having money or not, it's useless if you have money but don't have the knowledge, then they just do everything with logic and according to their feelings. it just seems like guessing the price without any analysis. That is the reason why crypto will be a mistake for some people.

Right.

You don't need to approval of anyone if you're going to do it correctly. Mismanaging is gonna be dependent to the person who's holding. And if you're wrong with that, you have to analyze your mistake because eventually you have no one to blame but yourself if these mistakes come out.

We don't want nothing from these investments and that's why if there are people that have been unsuccessful on this venture, there must be something wrong with their decisions.

For crying out loud why should a crypto beginner start with alternative coins? People that do well with alts are those that have gotten a mastering of the market having an understanding of the pump and dumps of alts and not some random beginner who can't equally deal with bitcoin that's With a moderate volatility that newbies can easily learn with. And when I said easily, I literally mean bitcoin is 5x safer for  beginners to invest on than alts.

Despite how safer BTC could be, it's still beckon on you to learn a lot more before investing big amount and from what is obtained from the character of some beginners, they want to come in and start earning immediately without going through the basics. You will always pay with your penny when you refuse to give to learning first. It's as simple as that.

In my opinion, it's like there's a misperception going on, that most people probably think that crypto is the way to bring success faster, can bring very high profits very quickly, as they see with many people who are successful in crypto. What's more, they are people who like instant things, who are easily deceived by anything that promises fast money to come to them, while they don't want to make more efforts to explore and understand it. So, once they fall, they will easily drop and be disappointed with inappropriate results. moreover, we see how big the newbies involved are being scammed by scammers, there are so many. This is because they do not equip themselves with sufficient knowledge. And they believe too much in new things that they don't understand but promise very high profits.

Good thing pointing that out.

I’ll like to say, someone who happens to be experienced is one that has failed many times and one who isn’t is one that has some rough ride up front.
I wouldn’t say your friend @OP is the lazy type, nope. He just had a bad choice of investments to have picked altcoins for his crypto investments without doing any proper findings on it or having a high expectancy of a failed potent on altcoins.

One thing that remains real and is very disappointing when people don’t realize it is that, it’s not a get rich scheme and there are those that are bound to enrich the others in this system. It’s just how it works and you just have to try not yo be amongst those losing to others.

I pity your friend for running off and that might be the best for him @OP because, you truly shouldn’t go in huge on that which you know nothing about.

The reason is that they do not know what crypto really is in the first place. Probably, because of the hype that they witnessed, they thought that all crypto are the same ... that they can invest to any token that they want then expect profit from it. It is similar to why some newbies gets scammed to frauds related to crypto.

Simply put - each holder is the one responsible for managing their holdings. It doesn't matter how they spend their coins - whether they spend them on gambling or on something unprofitable. But this is a crypto use case that shouldn't be argued - but one that will definitely hurt from an investment perspective.

An investment is an investment - meaning you should never spend your investment assets on something else without a urgent need. If you want to spend crypto for a real use case - then buy another and spend it.

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

The problem most beginners always have is that they fail to make research, thinking all cryptocurrency is the same as Bitcoin and some beginners don't even have time to make research to know whether the cryptocurrency they are investing is good to start with for invest.  Beginners are just interested in making money from crypto and don't care to know how reliable it is to invest. Investing in cryptocurrency is not just having money to start but to have the knowledge if one is in the right investment.

When you invest in token, then you might end up losing your money at the end, maybe your friend invested in shitcoin or altcoin which in you invest in shitcoin then your chances of losing money is really high. Lost of people have invested in altcoins before so after losing money they decided to tag cryptocurrency as a scam, but I do say most of those people are d cause of losing their money. If you are investing we should have it in mind that any altcoin investment is very risky and we have to be very careful when investing in it, if we are planning to invest, then the best thing we should do is just to invest in bitcoin. Any altcoin investment done is just like gambling, their is equal chances of winning and losing.

Some people don’t care to learn about what they are going into, some of them are just too lazy to make research, and some are always depending on other people’s opinion (those are the once that are always giving signals, or the once that are always waiting for people to recommend the coin they will be investing in for them).

You can’t just start and you will be expecting money, if you are a trader and you are a beginner, you will always lose money instead of making money, but you don’t have to give up, you have to continue putting your effort and with time you will start making money and you will forget all the money you have lost, and the things you went through.

The clear reason is that not all people have the same outlook on bitcoin. Some would only see it as short term profits and just here for investment purposes to satisfy their greed. However, for those who have deep understanding about bitcoin, they will always find ways to learn everything about bitcoin and value it’s utility case in the market. And when they’re ready to invest, they make sure that it will be a long term investment regardless if there will be inevitable losses along the way.

It takes good initial knowledge about crypto so that those who think crypto is just a fraud can turn around and be interested in crypto. Ordinary people who try their luck with crypto and try to trade, but in the end it fails they don't really understand so when a loss is found they will say that crypto is not safe, full of risks etc. But for those who understand, of course crypto will provide benefits. In the end, those who succeed are those who believe in crypto and understand crypto. those who fail will make crypto a scapegoat that leads them to losses.