Unfortunately, most people who invest all their savings, pensions, personal loans, mortgages, etc. have no idea how fierce and dangerous crypto market is as it is now (immature, volatile, and punishing). They lack the set of technical and trading skills to survive in such market, and they invest either out of desperation (there is greed, of course) or fulfiling their dream of living a better life (for their children mostly.). They hear or read stories about new millionaires emerging from cryptocurrencies, they rush in to get a slice of that hot cake, however, they quickly get stung by the market rather early, and in worst case scenario, lose all their money.
It is sad, and there is nothing to be done other than spreading awareness about cryptocurrencies.
Topic: You cannot eat your cake and have it - page 12. (Read 1614 times)
yea, some people think that with cryptocurrency your money would doubled like magic just because friend of them tell those people that he's become rich because of cryptocurrency, I know that we're born with greedy nature, and we can't help it, but we still need to be smart to choose the path.
Well, in the bull market, I suggest everyone around me to maximize their investment by borrowing or by taking loan from bank. But it is not a good time to invest in crypto currency now. If you invest now with borrowed money, you will lose more than money. The time will come.
There is a popular saying that invest only what you can afford to loose. Some people are making the mistake of investing all their life savings into crypto and other ventures. Some people even went as far as borrowing money or even using their properties as collaterals to borrow money so as to invest into crypto. This is a wrong idea and it might cost you a lot.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.
Every investment has its risks. So consider the the risk involved by taking each step at a time and do not jump in once.
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