How I saved myself from cryptocurrency disappointment

[suzanne5223]

Most newbies are really bound into investing into a "platform" which promises them with good return because no one tells them to avoid those as it's a scam.

This happened because their belief is that cryptocurrency is a totally safe investment when everything that comes with great benefit will also come with great risk. However, some crypto influencers also have a part in newbies investing in pump and dump coin and this will never stop until the newbies understand that they need to understand how to make a safe investment in crypto.
I am saying this from experience cause i was once a victim of E-Dinar Coin and MMM Japan.

I don't think that it's the actual reason and belief they've got. It's about the quick money that they think circulates in the crypto market and they're thinking that crypto is all about that.

I agree with the influencers.

They're just paid people to advertise those projects and they don't filter and study the project that is hiring them to speak for them so that they can endorse them to their fans.

Quick rich schemes on crypto is what mostly promoted by influencers also with your friend which has been hype for certain investment  options where they invest their money, but unfortunately this is totally risky and for newbies for sure they lose their money for those people who promise and easy way to earn money because as always to good to be true offers is not true and for sure scam.

For influencers its easy to spot if they are just hyping easily and we should avoid on what they are promoting to us especially if they have history that the coins or tokens they promoted became scam before.

@sunsilk, If anyone could have the thought that crypto is all about making quick money such a person will first believe it was a safe investment scheme.
But it, not all influencers were paid to advertise a certain project because some are doing it because they invested in the project and they want more new investors to hop in for them to sell their holding in profit while they also exit.

@ultrloa Influencers hype on the project seems to be easily spot out by you because you're well experienced in the crypto field.

[Finestream]

I am not sure if OP collects content from somewhere else. But most of the advice is useful for crypto beginners. Because old users are already familiar with this kind of problem. The part of the thread I liked doesn't expect to become rich overnight from the crypto. Otherwise, you will have to cry later. I have seen a couple of things and I learned a costly lesson as well. Need to invest what you can afford a loss, then you don't have to cry. This is the very basic logic in crypto.

Apparently, all those listed by OP are very helpful for newbies. And as they always believed everything in crypto will possibly make them rich in an instant. But they will never learn their lesson and grasp the real concept of crypto if they will never gain losses and failures. As a newbie before, everything is learned through its long process. And you will never be successful in crypto investing or trading if you are always driven by greed.  Greed is sometimes good but never use it as a motivation because you will never be successful in crypto.

[coolcoinz]

Most people get disappointed because of unrealistic expectations. They buy Bitcoin because of some stories found in the Internet about young millionaires who bought their first apartments with their profits. Most of you don't realize that if they made a million USD and bought an apartment it means they sold it all and they did it years ago because most of these stories are from before 2021 so these people missed the last ATH and they could have 2 apartments today if they held.

Don't expect crypto to give you fast and high returns and you'll already boost your chances of being a winner in this test. That's right, investing is a test of your skills, understanding, mindset, personality, and many other things. You're weak - you lose.

[AnySniper]

I would like to add to the 3 major and sustainable ways to make money with cryptocurreny.
- Crypto Farming
- Crypto Sniping

[nurilham]

I agree with what was written, entering the crypto world means that we must be able to accept the risks that exist such as pump and dump or fraud that is rampant in the crypto world. It doesn't mean that the crypto world is not profitable, but every investment has a risk side, just like crypto. . Therefore, here our minds must be really open and rack their brains to determine the right strategy with these ups and downs market conditions. always be careful in acting and also aware of the responsibility to manage crypto assets owned properly. crypto will be profitable if we can use and manage it well, be careful in acting and not in a hurry to act

[Oceat]

I would like to add to the 3 major and sustainable ways to make money with cryptocurreny.
- Crypto Farming
- Crypto Sniping

And how would you suppose to do that?

We all know that every too good return there's always a high risk that's why it's better to minimize the risk of losing and choose a less risky investment.

I think what do you mean about crypto farming is crypto mining or i am wrong?
And crypto sniping is it more on altcoins than Bitcoin, right?
That's a lot of work to be able to call as sustainable way to make money.

[Ahli38]

everything that will jump into crypto is required first to understand the basics of crypto. and those who enter crypto trading must first know the advantages and disadvantages that will be faced. but indeed a beginner mostly only sees how easy it is for other people to get rich from crypto or be consumed by fomo. and hastily followed without not knowing what kind of paths and obstacles had been faced by the person he wanted to follow.
it's true what you said. don't think to multiply money drastically easily in crypto. because something that was started by greed (want to get rich quick) mostly fell into the abyss of loss.

[Mpamaegbu]

OP, maybe you should also add "staking" as a way of crypto earning too. Many people don't even know that a good staking platform and crypto will keep giving the staker great passive income, pending when the farm closes. This is a good way to earn when you aren't trading. Instead of keeping your coins idle in your wallet, it's better to stake them; honestly. Some of these cryptos even make you earn in different tokens while some pay in their own token. In all, staking is a plus eventhough some people may disagree with my position on it.

[Shamm]

As a newbie that has Falling into crypto currency scams and disappointment. The following is how I overcome those disappointments

Risk involve in cryptocurrency
i. Crypto pump and dump;
Crypto is highly volatile and a lot of people do not consider this before investing.
ii. Fake investment scams; This risk applies to a lot of newbies like myself. Someone will just tell you to bring your money and they'll help you invest,
It's important you recognize scams when you see them
iii. Emergency of new coins;
New coins emerge frequently it is now your own to DYOR(Do your own research) to know which ones you should invest in.
iv. Money-laundering through crypto exchanges;;This is also very common.VSome people are actually fraudsters but they just use Cryptocurrency as a camouflage.

What should your mindset be about cryptocurrency?

Mindest 1: Crypto is not a get rich quick scheme. If you have the mindset of putting $10 into crypto today and getting $100 tomorrow, please, I beg you do not venture into crypto.Having the get-rich-quick mindset makes you fall for a lot of scams.

Mindset 2: Cryptocurrency itself is not a skill or Business. This might sound a little bit controversial but it is what it is.
Cryptocurrency is neither a skill nor a business. At the moment, cryptocurency as a whole is more of an investment. The skill and business part of crypto is in Crypto Trading.

So, you should know this and know peace.

There are 3 major and sustainable ways to make money with cryptocurreny.
1. Investing
2. Crypto Trading
3. Crypto Mining.

The best thing we do is,(DO NOT TRUST) easily in social media or any friends nowadays cause there are many scams offer.
You are right that mate no one can give you a big amount in a short period of time. We must mindset that kind of thinking but we won't get it or knew it if we are not fall into a trap and getting scammed or do not do our own research. Staking, trading, investing and mining these are the following we can earn some crypto through this.

[Hypnosis00]

Mindest 1: Crypto is not a get rich quick scheme. If you have the mindset of putting $10 into crypto today and getting $100 tomorrow, please, I beg you do not venture into crypto.Having the get-rich-quick mindset makes you fall for a lot of scams.

So many times I've heard this one but I just wonder why people aren't learning yet despite the awareness being spread. We just let these people disappoint us and ruin our investment plan, we ended up losing.

Too hard to say but things have been done because of the love of money and many thought that crypto investment is a way to become rich. A sad reality that even until now, many still got hocked up and a victim of this kind of promise. I'm not sure if this will have an end or if we have this situation forever?

[Foolhardy]

You need to be able to differentiate between scammers and legit traders who actually want to help you. The only way you can achieve this is through learning the various tips as you build your network and grow as a trader. Set realistic goals in the beginning so you don’t expect too much, too soon. This is not a place to make quick money. Through strategies and plans maintaining discipline, will you be able to reach your desired goal.

[Franctoshi]

Every investment involves risk likewise cryptocurrency, so it's your duty to avail yourself from unnecessary risks or getting disappointed by doing a proper market research on any crypto project you're driving into, though there are some projects out there that can be woof in a sheep clothing but it end up being a scam project. in this case, you will be satisfied you've done your best than just going into a project without proper research.

[Myleschetty]

Every investment involves risk likewise cryptocurrency, so it's your duty to avail yourself from unnecessary risks or getting disappointed by doing a proper market research on any crypto project you're driving into, though there are some projects out there that can be woof in a sheep clothing but it end up being a scam project. in this case, you will be satisfied you've done your best than just going into a project without proper research.

Yes, every investment has its own risk and like the saying great opportunity will always come with great risk but the risk in Cryptocurrency investment can still be avoided thats if the investor who's still a newbie understands his/her limit, went for the long-existing project with good utility and invest base on DCA.
The reason why investors fall for a scam project is that they don't have good knowledge in knowing a scam project but they choose to invest in project where the Dev team promises profitability.
The only way anyone can save him/herself from disappointment in crypto investment is to have good knowledge about the market.

[KingsDen]

What I will recommend for newbies in crypto to avoid scam is this;

If you are new in this space and has some money to invest, I will honestly advice that you should not invest until you study to a little bit and get ride of your newbie status. By then you must have gotten some understanding of how things work, of what looks like scam and what is real. By then you can make good decisions for yourself and take consequences of your actions.
Scammers are smarter than most people in this space, and when you have no experience of how things work, disappointment is inevitable.

[Ahli38]

What I will recommend for newbies in crypto to avoid scam is this;

If you are new in this space and has some money to invest, I will honestly advice that you should not invest until you study to a little bit and get ride of your newbie status. By then you must have gotten some understanding of how things work, of what looks like scam and what is real. By then you can make good decisions for yourself and take consequences of your actions.
Scammers are smarter than most people in this space, and when you have no experience of how things work, disappointment is inevitable.

the fraudsters continue to look for ways and loopholes every time. so that their deception skills are getting more and more expert.
then it is true that a cheater is sometimes much smarter than most people. because they are very well prepared. while those who are deceived are not prepared.

Well, in cryptocurrencies, we find many loopholes for the carelessness of beginners who were originally in a hurry to invest in the crypto world because they wanted to quickly get doubled profits. and consequently the swindlers enter upon seeing the carelessness of the novice. so that beginners are easily tricked and not the profit they get. even loss and disappointment.


then it is important not to rush into the world of cryptoxurrency. especially if the beginner has a lot of money.
they should be more careful. and exactly as you said.
they have to learn first even if it's a little. or start from the basics. at least they know the characteristics of right and wrong investments. and trading sciences and the like.

[cryptoaddictchie]

Investing on cryptocurrency has a lot of shortcomings which if we managed to overcome then we can definitely go to a financial freedom. Yes what all you mentioned are all valid and Im glad that you realizes that too.

Many newbies doesnt understand or pay attention to these cautious and end up losing a lot of money but they should remember that it is quite risky and losing is inevitable. There are times they could lose but ofcourse as long as you knew what to do you fan avoid that.

[Peanutswar]

In cryptocurrency there are a lot of things just need to know and how it works OP already experienced the possible things getting lost or gaining from assets. At the end of the day, those experiences are the ones to use to know what is the thing to support and what are the things to avoid. Again it's crypto space there is market volatility for the assets, possible projects surge or rug and people who help or just to scam.  Focus on learning by that you can easily earn and makes more conscious about the thing you are doing.

[firmino10]

this is very exposing to the world of investment in crytocurrency. getting the right orientation about investment. making research about the investment. because its a volatile market. and an investment that grows with time. understand the market and be in a community that educate about crytocurrency. and there are scammers everywhere, follow the right channel by investing rightly.

[Alisha-k]

Get quick scheme is ponzi and not crypto investment no matter how genuine the project appears. Every real project takes time to yield meaning any quick ROI is at a very high risk and projects that pumps to fast falls too fast and dozens of them falls that way and never recovers.