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Because of two main reasons: high-quality blockchain technology and affordable to lose (my investment) So where to worry? If it's going to blast once again, why should I miss once again?
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Three risks of investing in crypto that every one should be educated about:
1) Your account is hacked! It is a risk that when your exchange account is hacked, there is high chance that your amounts will be completely loss. To prevent this, invest in offline cold storage, not on the exchange house network.
2) Scam broker! Nowadays, there is constant rise in scam brokers that steal your Bitcoin through trading. To prevent this, one should check the reviews, and contact the supports, making sure it is not a scam.
3) High Volatility! It can rise 5000% in some months but also lose 5000% in a month. Make sure you know how to take profit and take greedy nature out of your life. And be watchful for major news against crypto.
PS: Crypto is for speculators only
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I'll quote the meaningful and famous advice by Andrew M, MD of Maroon Capital Group:
“The biggest challenges that Bitcoin currently faces are flow of funds, a lack of market makers, and outsized exchange rate risk. It's nearly impossible to move USD in and out of the largest trading platform (MtGox) and, as a result, there are very few significant market makers participating in the exchange. Absent reliable providers of a liquid marketplace, volatility will remain high. This presents major difficulties for businesses and individuals that might otherwise accept Bitcoin as payment for goods and service in forecasting Bitcoin exchange rate risk. Bitcoin can't be a viable long-term currency unless, and until, it is more broadly accepted as an exchange medium for items of real value (i.e. these goods and services). These challenges are interconnected and the current regulatory assault is the single most important aggravating factor to these circumstances.”
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Yes. Three main advices. - Before going for Bitcoin, make assured that you're living in a country where Bitcoin is a legal tender. Otherwise, you're not supposed to join this forum.
- There is no competition with those who invest in bitcoin. The performance of your investment portfolio is your own. If you treat it as a competition, you will be increasingly stress and frustrated and end up making emotional decision, not reasonable decision. That does not look good on you at all.
- Don't put all eggs in one basket, Diversify.
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The Pursuit of Happyness! <3 [for motivation to success] Courageous! [for motivation to helpless fathers] Fireproof! [for motivation to broken marriage] War Room! [for motivation to prayer life]
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Bitcoin usually have high risks, which means, very high fluctuations. Remember we were ready to take risk (lose) when we invest such amount, so we need to calm down, wait for gradual rising.
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My primary hobby is to spend good time with the Creator and His people. I know, generally, you'd say how can I earn through this? The truth is I've got billion dollars through this, and I bet you know what is billions dollars. Peace!
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