I went bankrupt when I joined in cryptocurrency

[princeyeboah]

Most crypto users in their earliest stages in crypto have similar stories of tragedies. Crypto is not difficult to understand yet entails quite a lot of stuffs as new projects enter the Blockchain. Users need to stay updated by reading or learning about the general market trend before executing their thoughts on investing in crypto.

[MinarchistCoin]

When bitcoin hits the news for positive growth that’s a sell signal, not a buy signal. Sorry for your loss if you sold. Just hodl. But thanks for buying my coins back then!

[paulo013]

Sorry to hear that story, But for me, If we go into investment specially cryptocurrency, Dont think that you will become a millionaire too and take risk investing without enough knowledge. But that is life we need to accept our loss and fails.

[kendra1107]

Quite unfortunate, but that's just how things go in this field. Make one wrong move and you're done for! This person got influenced by the hype which led him to making the wrong decisions. This is a mind game. Therefore we need to be smart. Smart enough to be able to keep on riding the waves. Throwing in almost everything we have into something we do not fully understand is like suicide. And this is because of greed! The idea of being able to earn quick and easy with crypto is like a day dream. This is hard work which requires time, our brain, and tons of patience.

[Verde_Mantis]

The first rule of the cryptocurrency world is not to invest what you can't afford to lose. I'm very sorry for what happened but first of all it's your fault, too many people think to get rich in a very short period of time, huge mistake.

[paparexon0414]

Though the strategy seems okay but its a matter of luck also. As you said earlier, there are some becomes millionaires in investing. Maybe because they are pioneers , equipped with really good strategy and very lucky indeed. The world.of cryptocurrencies is full of surprises. You will have to face the fact that you needed to experience loss and have all the risk just to be successful. This is the cycle  and we can somehow lessen it if we learn from that experience.

[elwiswoodie]

yes, bitcoin is not as easy as thought. sometimes someone needs certainty, where bitcoin has no certainty
I think all trading activities are almost the same as gambling, they speculate by predicting the future
and the future also has a lot of possibilities, it could be that the coin becomes 0 and really doesn't sell, but the coin can also fly far into the sky

[bakermaker123]

What is your opinion of this story?

I think that it is really an unfortunate event. I once lost money too in investing in bitcoin but it is fine because that is just a minimal amount. I always invest only what I can afford to lose. That's the reason that I can't go bankrupt. This should serve as a lesson to other people who will start to join cryptocurrency. They should be really careful.

[kvipcn]

What people need to understand it that cryptocurrency investment is not a make to get fortune, you just don't invest without knowing or understanding how the market operates. These kind of people are the ones responsible for the wrong and negative speculations make about cryptocurrencies. Please newbies, don't invest because you heard people speculating about how profitable the crypto market is. For all you know, this person has advanced knowledge in terms of crypto investment.

[abhi777]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

Every commodity market including cryptocurrency will test you with risk and kindness as a trial which's true. Each of us has a different experience in each forum that comes in turn. Trade and investment always coupled with the risks of each, and we are obliged to try as hard as possible to endure emotions and increase patience. Every new or old investor, there is no chance to evade (nor can it avoid) from what has been determined by the market. Each of the investors will experience it equally and evenly. Cryptocurrency's very speculative, they go down and go up very fast if you have faith in that, I don't think there's another way but to hold it for longer.

it's not crypto's fault if you play along and you go bankrupt. it may be your carelessness that makes you emotional and always rushes to take income. and if you play in Crypto but you always emoai you will not be able to invest well the problem is the brain and heart are not connected.

[julzcoinbit]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

Well, nice experience for a couple even they fell into their Investment here crypto atleast they learn that greedy is not effective for Investment, play with passion is the right to do and point out some mistake to won't let do it again. And never surrender no matter what and be patience by holding bitcoin.

[YoungMaster]

This man hopes that he could be a millionaire in a short time.
But, too bad this man entered the market when not at the right time. Moreover he almost used all of his money, Too risky.

[Temik2704]

Good instruction how "Not to do". Here is only one reason why you has such end - your greedness.
If you used diversification risk strategy, everything could turned out with more positive side.

[SeVenlast]

A sad experience to generate bankruptcy from you but have you learned from the mistakes you made at that time because you could think again.

[Olympiconey]

I think people in majority concentrate more on just quick money rather than getting some sufficient knowledge first, especially about projects they invest in. Knowledge will be your guidance and will help you make reasonable decisions rather than act in emotions and loose your money in the end.

[hahay]

I think people in majority concentrate more on just quick money rather than getting some sufficient knowledge first, especially about projects they invest in. Knowledge will be your guidance and will help you make reasonable decisions rather than act in emotions and loose your money in the end.

Yes it can happen to them or beginners who are affected by big profits or maybe they invest randomly and don't pay attention to the project in more detail. Because I personally rarely see events like this where someone went bankrupt when he just joined the cryptocurrency, with this incident I hope that more people will be more careful to invest in cryptocurrency, because not all of them have great potential in the future.

[deisik]

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

If you want my take on this, it smells fishy

As for myself, this story feels concocted and doesn't sound convincing. There are real chances to lose money due to a hack or an exchange running away with your dough (think WEX here), but they don't feel tragic and are kind of normal in the cryptoworld. Just like there are things which are too good to be true, there also seem to be things which are too bad to be true as well. I don't know but I have a feeling that this piece is written by somebody close to the ones who had been writing (in)famous tear-jerking Nigerian letters about "a terminally ill wealthy person with no relatives who deposited a huge sum of money in the bank just before dying in a plane crash" (as per Wiki)

[bitcoins94]

Hacking coins is very common. Guys please get the safest coin in the crypto market. AML BitCoin cannot be stolen. AML BitCoin´s transaction system employs patented multi-factor authentication for every AML BitCoin transaction.

[Korkorjkk]

We know investing in crypto currency is about risk taking, and without risks, you will never earn a lot of money. So it is better you find out about something more before you venture into it, because without adequate information, you will lose a lot of money.

[Jahmal32]

First, this is not my story, this is a story that a couple, their happiness may be shattered when the husband invests in cryptocurrency and now he is in danger of losing all the money he has invested. And this is the whole story told by the husband
  "In early 2017, I went out with a bunch of friends and heard about a new investment field, cryptocurrency, and at that moment, the field seemed not to be a trend, so I just laughed and ignored it. However, as you know, the storm came in August and October of 2017, the news and media constantly talk about the strong growth and terrible price of bitcoin and of course, I've heard a lot of people become millionaires in that time. Although I have been very careful and understand that high profits will come with high risk but over time, the curiosity and the constant news attacked me, which made me plunge into investment.

   And a series of tragedies began to take place from here, in the first stage, I was still very careful and calculating, not greedy but this job is really too much pressure, the market situation makes me tense and tired. In addition, the news and people constantly gave me confidence and made me hope the price of bitcoin increased to $50k and because of that, I decided not to sell anything and then as everyone knows, the market has begun to decline in 2018. Again, I continue to comfort and encourage myself, everything will be fine, I'm still profitable, bitcoin will increase again, so I searched the bottom of the bitcoin and started throwing money into the altcoin and holding on to the long term.

   And life is not a dream, the price of the whole market fell, bitcoin almost touched 6k and the common mentality of everyone, seeking restoration and light of hope. I became a short-term trader but with the horror of the market, my capital began to become smaller and smaller, until one day, I almost lost everything, mental breakdown, depressed mood and depression, a very inhibitory emotion, all created something very chaotic, often arguing with my wife unreasonably."

And here is my comment on this story, never think you can become a millionaire in this market when you are just another prey of the other, whales always create beautiful scenery and pictures of the future, that is not true. Play with passion, instead of playing with greed and everything we have, accumulate more experience and absolutely should not give up the main job.

What is your opinion of this story?

What is my opinion about this story? Yes listen to you actually very a lot of questions! Are you a trader or an investor? Maybe you are a fan of? If you are a trader and entered the market, you had to understand the risks, then you had to have an action plan, a strategy otherwise, not to get into such a situation as now! If you are an investor-then again, you have entered the market in the long term, Yes you bought of course at the peak, but if you know how to wait, it is still ahead. If the Amateur, and decided as you say to get rich, then I sympathize with you, you've done something stupid!