Mate, I understand your pain right now. Honestly, I would be devastated if I were in your position. Next time, remember to put your funds in a wallet and double check the users you are talking to, even though I am sure that you don’t need reminding after this.

Your whole trading career is based on the predictions you make. And it’s quite understandable that you won’t be 100% correct with your predictions. And like you, there are so many other people in the market, which makes it quite clear that supply and demand make crytos move.

It’s the trader’s expectations that make them take the wrong steps. Cryptocurrencies can get you profits only if you understand them and their movements. But if you start gambling for no reason, you will end up making losses and that’s what is wrong.

Only if the bitcoin value rises to manifolds in a certain amount of time. The market is changing every day and it’s not a good thing to take risks just because you are hopeful.

It would be wrong to expect to make profits from bitcoin immediately after you put in your money because the asset is not always showing price hikes. You have to be patient and wait for the results; otherwise, don’t take the risks. Making no profits is better than making losses.

You can learn trading. Traders need to have knowledge of technical and fundamental analysis. Traders need to be disciplined to become profitable from trading. It’s consistency that makes trading difficult. If you can backtest, learn and strategize, trading can be very rewarding.

I doubt if it will ever be because bitcoin being a decentralised currency is a major reason why people trust it. If it comes into the hands of the government, people will start dumping it.

Everything is fine with bitcoin. It’s okay if it’s going down. Hold it for some time because I am sure that it will bounce back again. It’s a good opportunity for buyers who have been looking for a chance to buy bitcoin at a comparatively lower price.

For someone who has no idea about bitcoin mining, understanding it won’t be easier. So, I don’t think that you should waste your time explaining to people what to do and what not to. It would be better if you refer them to websites where they will be able to find all the information they need.

Bitcoin is safe. Others can access your bitcoin only if they have your key. If you have shared your key with someone else, they will be able to use it after you die. And if you haven’t, your bitcoin will be lost forever. No one will be able to make use of it.

It’s just that I don’t believe in any of the assets as much as I do in bitcoin. I have seen bitcoin depreciate a few months ago but it bounced back again. Over and over again, it has shown that nothing can stop it from achieving new heights and those who believe in it will never see a downside.

I doubt if anything such would ever happen. Bitcoin is on the top of the stack and it’s difficult for any other cryptocurrency to reach that place. I have high hopes from ethereum also but don’t think that it will ever be able to overtake bitcoin.

By the way, to be on the safer side, I have put my money in both of them- bitcoin and ethereum. Just waiting for the right time to make a big move.

Bitcoin works great for me too. It saves me time on transactions when I have to make bigger payments. As no third party is involved, I think it’s safe and secure to keep my money in my wallet even when I am not using it.

I don’t think anything such is happening anytime soon because people who trade and invest in cryptocurrencies won’t be okay with it. What I think is that the government might come up with its centralized currency just to compete with the ones that are doing good in the market.

It may be a good idea to completely live in the crypto world. But technically it might not be possible due to crypto’s volatility.

Though the blockchain technology which is backing cryptocurrency is safe, that does not mean that cryptocurrency is completely secure as the cryptocurrency is not backed by any authorities.

Bitcoin has become the first  cryptocurrency that is the first choice for many investors because of its market value. This may be the reason why newbies lose in bitcoin. They think that bitcoin is the source for overnight success, but it is not.

Patience is a virtue that everyone should have. You cannot make money if you are too desperate to make it. You need to have a plan, and you need to execute that plan. Just because you bought a cryptocurrency does not mean that you are going to make money. You need to be prepared to hold it for a long time if necessary.

Both types of trading have their own risks, but cryptocurrency trading is considered safer than forex trading. With cryptocurrency, there is a finite number of coins that will ever be in circulation, unlike with forex, where the number of currencies and their value is constantly changing.

It’s good to start with this much. After all, something is better than nothing. With time, you can increase your risk appetite.