Topic: Why Crypto may go wrong for some people - page 4. (Read 913 times)
Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
I think the main mistake of your friend is the lack of basic understanding of the way the project is running so he suffered a loss. He should have been more careful when investing in tokens. So many are disappointed investing in tokens, altcoins, and NFT that ultimately have no value anymore. because this project is popping up a lot, if we are not good at analyzing it is better to stay away. There are still many altcoins that are great assets to invest in safely, but even safer should your friends invest in bitcoins because this is a very wise choice.Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
But whatever it is, actually when we experience a loss it also has a good impact on us, because later we will be more aware when we want to do something for investment.
To be honest, I have lost from investing in altcoins and the amount is not bad for me, even though I don't like your friend's story it makes me more aware of how to manage money, and I believe that when we experience losses, the mindset can change, and when we hope for something big, the consequences are also big. Experience is created from failure but how do we take advantage of that failure not to fall a second time?
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
If your friend invested in a crypto coin that was identified as a scam. If faced with such a scam, he may have lost thousands of dollars. But I totally disagree with the argument he gave you because crypto has nothing to do with gambling. Gambling is basically a casino platform where people place bets to win their prizes and investments are held for a long time. But your friend may not understand investment or trading very well for which he lost all his money. Before investing a person must know good research and follow various aspects about the market and gain experience. I also agree with you that lazy people can never invest profitably, hard work and patience are important to be profitable. Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Investing in crypto is not an easy thing because investing in crypto requires extensive knowledge, so prior to investing in crypto knowledge must be prioritized because investing in crypto without priority knowledge will certainly have the potential to experience losses and ultimately blame crypto even though it's not the wrong crypto but people who invest in crypto don't understand what crypto is and how to invest in crypto the right way.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Funny enough, one of the most lazy jobs to do, is crypto investment because it doesn't actually require any physical strength but rather mental smartness and I will rather say that crypto investment is fir the smart ones because I've seen people who are seen and known as lazy also succeeding very fine in cryptocurrency industry.
I'm sure you already known that every investor's expectations is to make profit and when the profit isn't coming, there are greater chances of such a person giving up easily especially when the profits are already outweighed by the losses.
I've always been on the opinion that it is necessary to have money while embarking on a crypto journey so as not to miss out of the better opportunities that comes with the season especially when you Intend holding for a long while but that doesn't mean you should be reckless with the money you have while learning.
It is not only in cryptocurrency that such affects, it also affects ordinary businesses too but what I want you to understand is that Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market
Very relevant. True, the two investments are different. BTC is a very potential of course. But, for beginners, don't go in first, at least you need to study first so you don't fail to understand. If you already understand and have excess funds that are not used, then go to others. otherwise, the principle of BTC investment which is the concept of a long-term pattern will change by itself. That's what I am and I'm still very young here (Newbie)
In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.
I think his friend instead of investing in Bitcoin invested in a token he had no knowledge about. There are many coins in the market at the moment, among them there are some whose value continues to fall after a few days of hype after being launched in the market. Therefore, without research and information, people end up throwing their money into coins that will never increase in value later on. Rather, their price keeps falling and people suffer a lot.
Investing in Bitcoin has a very low risk of loss as Bitcoin is the single most trusted crypto currency, but the condition is that your entry should be on time. Entry into any token at wrong time will lead to loss.
legendary
Activity: 2408
Merit: 4282
eXch.cx - Automatic crypto Swap Exchange.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
What he was doing initially was Gambling, ask him what was his reason for investing in those tokens and watch him come up with some baseless reasons. Most coins on the market are like the token your friend invested into because they won't last and they'll make investors lose millions of dollars. Crypto goes wrong for you because you invested wrongly. People have been singing here for so long that we shouldn't invest if we don't understand and only buy Bitcoin for protection against all the scams in the market but the new investors we have in the industry that claims they know it all and keep ignoring those advises.
As for your friend, why didn't he seek advise before investing, if he did he won't be in this situation. Crypto and Bitcoin most specifically has made lots of people wealthy, it can also make you wealthy if you're not greedy and decide to accumulate bitcoin while the market is down with focus on the future. Bitcoin is going to be trading at a $1 million in the future and then many millionaires will be produced. If you want to be among those millionaires, start investing in Bitcoin and ignore all this altcoins claiming to be solving a problem they know nothing about.
In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
Mistakes made by your friend for taking investment opportunities in shitcoin, so that in the end loses value to the investment and in the end blames crypto in general due to his incorrect knowledge. When you get involved in crypto the first step you need to know is what coin you want to invest in, not all coins are able to maintain value and most of the shitcoins are losing ground in the market. Continuous research and learning is really needed because we will see the need and accuracy in investment.Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
When you choose wrong investment, the chance to end up like your friend is very large, but when you are familiar with bitcoin and are calm in investing, then there is a great opportunity to make a profit instead of investing in shitcoin. Basically why do we experience losses in investments because we are wrong in choosing the best coin to invest.
What you plant is what you pick, someone's success in crypto is not just achieved, there are many processes that must be passed in order to achieve the desired goals. Reckless capital alone is not enough in Crypto investment, thorough research is needed to understand how crypto works. Crypto cannot be compared to gambling, this assumption is often used by people based on limited information.
In crypto trading there is the term Hold, when the market is not supporting or again showing a decline you can wait until the price increases again. Whereas gambling is generally defined as holding on to something instantly based on instinct, even though these two activities carry the same risks, they take different paths.
In crypto trading there is the term Hold, when the market is not supporting or again showing a decline you can wait until the price increases again. Whereas gambling is generally defined as holding on to something instantly based on instinct, even though these two activities carry the same risks, they take different paths.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Crypto is not a get-rich-quick scheme, of which whoever goes into crypto with such a mindset will always get disappointed due to the market's unpredictable nature and up-and-down price movement, which I guess that's the exact perception your friend would have had while investing, making him/her fall victim to shitcoin or ICO who promises to offer high profit and yet very volatile, and the reason why it's always good to make concrete research about any stuff you intend to put your money into so that you don't fall a victim of the "had-I-known" set of people who always regret whenever a task don't go as planned. Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
[snip]
Despite crypto offers enormous benefits, it also comes with enormous hazards, which may be avoided if investors have the proper and sufficient information.[snip]
Your friend has thousands of dollars, but instead of investing them in Bitcoin, he chose a crypto (token) that is extremely volatile and subject to manipulation. Now, he blames crypto for the error he did due to his ignorance and greed.
When you say your friend is investing in tokens, it means he bought the wrong tokens so he can't get the profit he wants. This is the mistake of people who can't find the right coin because they are tempted by what the project team has to say.
If your friend can choose only Bitcoin as an investment, of course, he can see the progress of his investment from time to time. He could also have a chance to earn big profits from Bitcoin in the future. That is why it is more difficult to choose an altcoin than Bitcoin because many altcoins tempt them to buy and invest their money.
To invest in crypto, you should research to find the right coin. And if they find it difficult to find coins, they can choose Bitcoin as their investment and not invest in altcoins. It would be better for him so he could avoid losing his investment.
If your friend can choose only Bitcoin as an investment, of course, he can see the progress of his investment from time to time. He could also have a chance to earn big profits from Bitcoin in the future. That is why it is more difficult to choose an altcoin than Bitcoin because many altcoins tempt them to buy and invest their money.
To invest in crypto, you should research to find the right coin. And if they find it difficult to find coins, they can choose Bitcoin as their investment and not invest in altcoins. It would be better for him so he could avoid losing his investment.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
I think the conclusions you have written are very clear on where to go. Yes. Investment is not like people who traditionally look for gold, open one hole and switch to another if it is empty. This means that we also take into account operational or investment costs that we have planted, don't shoot blind without a solid foundation and this is where the assumption was born and became the talk of what they will invest. Because the goal of investment in the end is to take profit, not even a loss.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Your friend chose to invest in a token instead of the well-established coins. So it's not surprising if he lost his money due to his wrong decision. This is the problem of investors who thought investing in shitcoin can give them huge and quick profit. If only he conduct his own research before investing, then this can be prevented to happen.Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Exactly. We all want to earn as early as possible but sometimes it really takes time before we can see the result of our investment. That's why it's important to understand everything before deciding to invest your hard-earned money. Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.
yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.
So what should be prioritized is knowledge first.
Pretty good advice, but it would be even better if you would share a little bit of investment knowledge that you have known so far for OP. Because now investment has been seen as a very common job among the people so that anyone can do it as long as he has clearer directions and goals. I say that because apart from having to have knowledge and capital specifically for investment, someone who wants to invest must also have enough time and patience to be able to reap benefits through what he invests. yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.
So what should be prioritized is knowledge first.
A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.
CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.
am picking out this WORD i marked with red yeah ENDURANCE, this reminds me when i started back 2017, seeing how people make money through bitcointalk, i started asking questions and also getting good answers to those questions, and the most amazing side was how money is been made from AIRDROPS AND BOUNTY, gradually i keep learning and enduring, today crypto has change my life for good...
Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.
yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.
So what should be prioritized is knowledge first.
yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.
So what should be prioritized is knowledge first.
It is not only in cryptocurrency that such affects, it also affects ordinary businesses too but what I want you to understand is that Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market
Jump to: