What Can Happen If You Want to Trade Cryptocurrencies, but You Don’t Know How?

[Rengga Jati]

Something that we don't know and force to know will lead us to get something that we don't want.
Like what in crypto, if we don't know about crypto trading but we want to trade, just learn it first until we understand.
Trading is not only about getting money and being richer because of the profits, it is more complicated than what we actually see from other people who are successful in trading.
Sometimes, we only focus on seeing other people getting money from crypto trading, and we are also greedy to try what the people do (but in fact we know nothing).
Following the hype, people trading activities, media, and also issues, and then only expecting to get big profits (without any learning or research), mean "be ready to lose)\".

But sadly, we can many cases like this

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[noorman0]

Something that we don't know and force to know will lead us to get something that we don't want.

-snip-
But sadly, we can many cases like this

Sending bitcoins to the wrong service where the balance is not credited after depositing, is one of those things that will happen if someone forces themselves to understand. Just experienced someone, I have highlighted the core part of the story here.

I’m scared to death so I’ll get straight to business. I think I made a terrible mistake. I’m completely new to crypto and have no experience with transfers, transactions, etc. whatsoever. I entered the world of crypto as it was the payment method recommended by the company I started working for. And now I’m totally confused.

I received the BTC and I have them in my wallet. I still haven’t exchanged them for cash — I’m not even sure how to do it. I watched tutorials, but I’m still kind of hesitant. But since I have them on my account, I wanted to do something useful with them. I tried to make my deposit here https://betinhell.me/bitstarz-casino-bonus/. However, I’m not sure whether I did it successfully, nor whether I did something terrible.

Important messages from the story:
No matter how low your position as an employee is, you always have the right to refuse a form of payment that you do not understand how to use.

If you are the boss, it is important to provide education and guidance first before recommending. And make sure your employees accept those recommendations voluntarily based on ability, not with a little coercion.

[Pmalek]

Sending bitcoins to the wrong service where the balance is not credited after depositing, is one of those things that will happen if someone forces themselves to understand. Just experienced someone, I have highlighted the core part of the story here.

That story makes very little sense and has nothing to do with trading. OP was paid in bitcoin for a service he offered. He wanted to do "something useful" (as he said) so he transferred the coins to an online casino, and one that has a history of scamming. Very useful indeed. Instead of leaving them where they are and doing some research about how to convert to fiat (if that is the ultimate goal), he decides to experiment on how it is to transact with bitcoin by sending them to a platform he knows nothing about.   

[jrrsparkles]

What attracted me to cryptocurrency was also my friend's wealth story. Unfortunately, the end of the story is that he also lost his wealth in the end. I also lost part of my principal.

Its bad to follow a process because you find others doing it without taking out time to find out what they had to.sacrifice  to ensure the system pays off. Crypto is a very volatile business full of unforseen surprises to avoid been taken unaware or been driven off in shock of losses knowledge and good analysis will.be a good tool to have handy

Inspired and jealous of has very thin border line to differentiate so self discipline is very important when it comes to investment no matter what kind of investment or how much capital we are investing and also we should never invest on anything if we don't have knowledge about it.

[Pmalek]

What attracted me to cryptocurrency was also my friend's wealth story. Unfortunately, the end of the story is that he also lost his wealth in the end. I also lost part of my principal.

That's exactly the problem and reason I made this thread. Those success stories, no matter how good they sound, could have just been based on luck. And there are two sides to each medal. Your friend was successful at one point during his trading career, and that's the part you decided to focus on. Eventually he lost everything and people simply overlook that part and don't consider it a real danger to them.

[BD Crypto]

Crypto Trading is much risky if traders aren't experienced a lot.Because in crypto trading you must know whats going on market and what about the selected coin to trade.
Thats why If anyone don't know how to trade he will lose funds like the same way from this topic.
So we must trade when we know it about how to do.
There is an Article where you will find 5 major tips for cryptocurrency trading.
We should follow them to avoid Trading risks.

[chuckweitzman]

Some people only think about profit and forget how a certain wrong move can destroy everything. It's about time people start getting adequate knowledge on trading and then only continue the same way with effective strategies and go on consistently with logical thinking.

[KingsDen]

Very interesting thread here. Calling everyone's attention to the other edge of the sword. Connotatively, the testimonies or stories all had success at first, then losses afterward. Does it mean we should start trading even if with zero experience, when gotten our first profit we learn from their mistakes and run???
Thanks for the courage to create this thread, many people keep intentional blind eyes at this side of cryptocurrencies trading stories.

[Oluwa-btc]

Lesson's learnt.

Never trade with someone else's fund's, jack borrowed and lost it all, you did it before doesn't mean you'll do it same way likewise. Same strategy that got him the first funds couldn't give him another.

It's detrimental to listen to YouTube influencers as they don't share their losses  and failure's only wins.
Noor delved into what she had little or no knowledge about and lost hugely. Putting all eggs in one basket has never been a wise decision.

Helvis desire to get rich got him Fvcked! Crypto Currencies shouldn't been seen as a scheme to get quick cash. I hope he deals with the pain and learn from he's losses.

Bottom line, they all failed to do their own research or ask advice from a financial advisor, thier desires for quick cash got them in a bastardized situation.

Thanks for sharing.

[CryptoHeadlineNews]

Here Is What Can Happen If You Want to Trade Cryptocurrencies, but You Don’t Know How

I am writing this thread to warn beginners that there is another darker side to profits made with trading. These stories can maybe make you reconsider careless trading decisions or motivate you to learn how to trade correctly by studying the theory of successful crypto trading. A 10-minute YouTube clip is not enough.

This is just a wonderful piece of writeup you put all-over here. It is the best advice anybody intending to go into crypto trading needs to read, because i have come to realize that what most of this youtubers does is tell us the kind of sweet things people want to hear, e.g "How to make $1000 daily trading" even when they know between thems that it's actually not that easy, but in other to get views to cashout on Google ads, you see them polishing words too good to be true.

[JoyMarsha]

The risk involves in crypto trading is never an easy one. You can win and lose your entire money within a short period(rich or poor). Crypto trading is not only for the novice, generally not for those that don't have the mental capacity to withstand their losses either.

The stories you have shared above show that nobody is perfect in crypto trading, even professional traders loss also.

[Pmalek]

Bump