Learn well before you invest in cryptocurrency !!!! - Awareness

[Vaskiy]

A man had died by suicide from one of the states of India after losing ₹70,00000 which in terms of USD equals around $94000. In a letter he has mentioned about the reason behind the death. Initially he have invested into cryptocurrency along with a friend and had gained good profit. The same had made him go for higher amount of investment. For this he had borrowed from friends and neighbours. Finally he wasn't able to repay the lenders, which made him end his life.

Here nothing is clearly mentioned, and it is said that he had invested in an app.

One should not go with greed into cryptocurrency investment. Also one should learn about the market well before making the investmen

Already Indian government is with a dilemma in regulating the usage of cryptocurrencies. Such incidents adds up them to defend.

Someway this will serve as a reference for users who think cryptocurrencies were a place to make immediate money. Now everyone will understand the risks associated with it. Maybe someone going through it will start learning more about cryptocurrencies before going for a high investment.

Source : Telangana man dies by suicide, allegedly after losing money in cryptocurrency

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[dansus021]

first of all that is huge of money, there some newbie on crypto that fall to scam app like cloud mining or high yield investment program and also phising app on the play store to, maybe man that you mentioned before is going all in or get some profit and think there's no lose on crypto the news mentioned "investing in online trading on a cryptocurrency app" there is lot of trader bot, fake signal premium and so on. or they fall to option trading or futures trading that i considering high risk even tho know about trading

[deadmousehat]

There have been many victims of cryptocurrency investments who used money from borrowing or selling their valuable assets. There are several similar cases in my country. Many people are depressed during bear markets and even worse, commit suicide. Most of them just follow what others do without knowing the risks and boldly buy in large quantities and expect bigger profits in a short time.
Invest wisely and not be greedy to avoid panic that can cause bad things.

[jackg]

There seem to have been quite a few examples of this in the past and before investing in an asset it's assumed you'll do your research on it. Maybe exchanges would do better for themselves and the entire cryptospace too if they showed the good and bad sides of crypto investment (similar to how stock markets tell people not to sell crashes/have short term goals).

[ThePoorMan]

It's the old wise words... invest (in whatever) only the money you are ready, and you can afford to lose 100%.