Why Crypto may go wrong for some people

[Maslate]

Crypto is not a get-rich scheme and Crypto might not be for everyone. Maybe your friend got a bad orientation and put more than he could afford to lose not in Bitcoin, ETH or a high-cap token but in a shitcoin. He took a huge risk without doing enough research. Risks are good in crypto but only well-thought-out ones seem to pan out well in crypto in the long run. The same way shitcoins can give insane gains is the same way they can take it all back and even take a huge chunk out of your capital that's why caution needs to be applied at all times and why the phrase "Do your own research" and Due Diligence is really popular around here.

The reality is people will never go wrong in any form of investment or trading career as long as he prepare for it and create long term plan before taking such risk entering the crypto market. And there will never be  too much losses if one invest or trade with knowledge and experience, as only those who only came in the market just for quick profits experience high risk of losing and end up quitting with a huge loss.

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[Adams0001]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

That is why, before you undertake anything in life, you should learn about it or conduct study so that you can deal with whatever comes up. Crypto is not something you should just invest on; you need do some research on it and the risks associated.

Anything in which you put your money is gambling. Either you make or lose money. In that sense, it is gambling. However, it is critical that you understand the project into which you are investing. Similar to stocks, you invest in firms in order to earn high profits. The premise is the same, but the crypto market is significantly more volatile and has produced several billionaires.

[Nwada001]

The reality is people will never go wrong in any form of investment or trading career as long as he prepare for it and create long term plan before taking such risk entering the crypto market. And there will never be  too much losses if one invest or trade with knowledge and experience, as only those who only came in the market just for quick profits experience high risk of losing and end up quitting with a huge loss.

This is not applicable to all forms of investment; so far as crypto currency is concerned, there are some forms of investment that can completely be the wrong choice, even when one maps out a long-term risk management plan. Sometimes the long time is even what makes it more risky, aside from an asset like Bitcoin, which for now has proven solid and otherwise. There is no guarantee that every other altcoin's investment will turn out positively in the years to come.

There are some altcoins that are out there that we never see any sign of failure in; in fact, all one can see is great potential and a plan to hold those for a long time, but as time goes on, we happen to see a negative result from them, which is either the team rug pull, the project lack in developing their product, or some kind of exploitation that might happen, which will bring the price of the coin or token to zero. We can use the case of Luna, propel, FTT, which is the native token for the FXT exchange, and many others that have gone down in the past and that people see as safe investments that are worth holding for the long term.

[Sandra_hakeem]

Hahahaha....
How do you say a man is lazy cus he wasn't able to read up on things he should've known before getting indulged, with such a huge amount of cash?? The word's ambiguity doesn't connot the real sense in there...take note.
On the other hand, maybe the dude thought it's some sort of Ponzi he could possibly pull a stunt on.. maybe he was also hoping to abscond with much more profits - exactly, that's what everyone wants, but it all depends on the motives now.... If you're actually learned in crypto, you'll realize that you don't have to rush over what you ALREADY have... But he went in with selfishness and that prompted his MEGA investment wreckage.

Sandra 🧑‍🦰

[Bushdark]

Hahahaha....
How do you say a man is lazy cus he wasn't able to read up on things he should've known before getting indulged, with such a huge amount of cash?? The word's ambiguity doesn't connot the real sense in there...take note.
On the other hand, maybe the dude thought it's some sort of Ponzi he could possibly pull a stunt on.. maybe he was also hoping to abscond with much more profits - exactly, that's what everyone wants, but it all depends on the motives now.... If you're actually learned in crypto, you'll realize that you don't have to rush over what you ALREADY have... But he went in with selfishness and that prompted his MEGA investment wreckage.

Sandra 🧑‍🦰

Yes that can be termed as laziness because he was nit ready to learn the art of investing in the right coin and simply jumped on investing in altcoins because of the urge to make quick money from investing. It is very wrong of us if we make decisions without have to scrupulously do our own research or ask questions about the step we want to take in investing in cryptocurrency.

There are bad and scam projects in the crypto market that can make us to lose a lot of money if we are not prepared to do the necessary things before we think of investing in cryptocurrency projects. Those that had became a victim of many of these scam and rug pull projects will understand that there is nothing like earning fast money in cryptocurrency.

When we take too much risks, we can earn up losing big because of the level of risks we are taking. The same also work of we become fortunate to have invested in a good coin project that finally got launched and give us crazy profits that we never expected. Every step we take as a trade need to be weighed or else we might be taking too much risk that can collapse our interest in investing after losing big in the market.

[Onyeeze]

It is not only in cryptocurrency that such affects,  it also affects ordinary businesses too but what I want you to understand is that  Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market

[landheer]

Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.

yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.

So what should be prioritized is knowledge first.

[Timmzzy]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

am picking out this WORD i marked with red yeah ENDURANCE, this reminds me when i started back 2017, seeing how people make money through bitcointalk, i started asking questions and also getting good answers to those questions, and the most amazing side was how money is been made from AIRDROPS AND BOUNTY, gradually i keep learning and enduring, today crypto has change my life for good...

[superman184]

Investing in crypto is of course very high risk, so before investing in crypto, many people suggest seeking knowledge about crypto first.

yes, indeed many people lose in crypto and eventually give up and don't invest in crypto anymore, but for great people, of course, they always learn from experience with the aim of not getting losses in the future.

So what should be prioritized is knowledge first.

Pretty good advice, but it would be even better if you would share a little bit of investment knowledge that you have known so far for OP. Because now investment has been seen as a very common job among the people so that anyone can do it as long as he has clearer directions and goals. I say that because apart from having to have knowledge and capital specifically for investment, someone who wants to invest must also have enough time and patience to be able to reap benefits through what he invests.

[lienfaye]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Your friend chose to invest in a token instead of the well-established coins. So it's not surprising if he lost his money due to his wrong decision. This is the problem of investors who thought investing in shitcoin can give them huge and quick profit. If only he conduct his own research before investing, then this can be prevented to happen.

Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Exactly. We all want to earn as early as possible but sometimes it really takes time before we can see the result of our investment. That's why it's important to understand everything before deciding to invest your hard-earned money.

[YUriy1991]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I think the conclusions you have written are very clear on where to go. Yes. Investment is not like people who traditionally look for gold, open one hole and switch to another if it is empty. This means that we also take into account operational or investment costs that we have planted, don't shoot blind without a solid foundation and this is where the assumption was born and became the talk of what they will invest. Because the goal of investment in the end is to take profit, not even a loss.

[michellee]

When you say your friend is investing in tokens, it means he bought the wrong tokens so he can't get the profit he wants. This is the mistake of people who can't find the right coin because they are tempted by what the project team has to say.

If your friend can choose only Bitcoin as an investment, of course, he can see the progress of his investment from time to time. He could also have a chance to earn big profits from Bitcoin in the future. That is why it is more difficult to choose an altcoin than Bitcoin because many altcoins tempt them to buy and invest their money.

To invest in crypto, you should research to find the right coin. And if they find it difficult to find coins, they can choose Bitcoin as their investment and not invest in altcoins. It would be better for him so he could avoid losing his investment.

[Myleschetty]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.
[snip]

Despite crypto offers enormous benefits, it also comes with enormous hazards, which may be avoided if investors have the proper and sufficient information.
Your friend has thousands of dollars, but instead of investing them in Bitcoin, he chose a crypto (token) that is extremely volatile and subject to manipulation. Now, he blames crypto for the error he did due to his ignorance and greed.

[CryptoHeadlineNews]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Crypto is not a get-rich-quick scheme, of which whoever goes into crypto with such a mindset will always get disappointed due to the market's unpredictable nature and up-and-down price movement, which I guess that's the exact perception your friend would have had while investing, making him/her fall victim to  shitcoin or ICO who promises to offer high profit and yet very volatile, and the reason why it's always good to make concrete research about any stuff you intend to put your money into so that you don't fall a victim of the "had-I-known" set of people who always regret whenever a task don't go as planned.

[Razmirraz]

What you plant is what you pick, someone's success in crypto is not just achieved, there are many processes that must be passed in order to achieve the desired goals. Reckless capital alone is not enough in Crypto investment, thorough research is needed to understand how crypto works. Crypto cannot be compared to gambling, this assumption is often used by people based on limited information.

In crypto trading there is the term Hold, when the market is not supporting or again showing a decline you can wait until the price increases again. Whereas gambling is generally defined as holding on to something instantly based on instinct, even though these two activities carry the same risks, they take different paths.

[ancafe]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

Mistakes made by your friend for taking investment opportunities in shitcoin, so that in the end loses value to the investment and in the end blames crypto in general due to his incorrect knowledge. When you get involved in crypto the first step you need to know is what coin you want to invest in, not all coins are able to maintain value and most of the shitcoins are losing ground in the market. Continuous research and learning is really needed because we will see the need and accuracy in investment.

When you choose wrong investment, the chance to end up like your friend is very large, but when you are familiar with bitcoin and are calm in investing, then there is a great opportunity to make a profit instead of investing in shitcoin. Basically why do we experience losses in investments because we are wrong in choosing the best coin to invest.

[GeorgeJohn]

In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.

[CryptopreneurBrainboss]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

What he was doing initially was Gambling, ask him what was his reason for investing in those tokens and watch him come up with some baseless reasons. Most coins on the market are like the token your friend invested into because they won't last and they'll make investors lose millions of dollars. Crypto goes wrong for you because you invested wrongly. People have been singing here for so long that we shouldn't invest if we don't understand and only buy Bitcoin for protection against all the scams in the market but the new investors we have in the industry that claims they know it all and keep ignoring those advises.

As for your friend, why didn't he seek advise before investing, if he did he won't be in this situation. Crypto and Bitcoin most specifically has made lots of people wealthy, it can also make you wealthy if you're not greedy and decide to accumulate bitcoin while the market is down with focus on the future. Bitcoin is going to be trading at a $1 million in the future and then many millionaires will be produced. If you want to be among those millionaires, start investing in Bitcoin and ignore all this altcoins claiming to be solving a problem they know nothing about.

[petulino]

In cryptocurrency investment you have to learn and understand the the procedures before investing in Bitcoin because if you learn the necessary procedure i think you won't be able to understand exactly what is going on in cryptocurrency world, basically cryptocurrency is something you supposed digest the bases before investing on it, therefore you su know exactly what the rudiments of bitcoins before investing in Bitcoin.

I think his friend instead of investing in Bitcoin invested in a token he had no knowledge about. There are many coins in the market at the moment, among them there are some whose value continues to fall after a few days of hype after being launched in the market. Therefore, without research and information, people end up throwing their money into coins that will never increase in value later on. Rather, their price keeps falling and people suffer a lot.

Investing in Bitcoin has a very low risk of loss as Bitcoin is the single most trusted crypto currency, but the condition is that your entry should be on time. Entry into any token at wrong time will lead to loss.

[Sovannar Sangha]

It is not only in cryptocurrency that such affects,  it also affects ordinary businesses too but what I want you to understand is that  Bitcoin investment and altcoins investment are two different investment in cryptocurrency because they have different reputation, bitcoin investment may yield good for you this season why altcoins investment may be nice to another person depends the time used for the investment, only thing in cryptocurrency investment is that you will be engaged for the investment to know the next move in the market

Very relevant. True, the two investments are different. BTC is a very potential of course. But, for beginners, don't go in first, at least you need to study first so you don't fail to understand. If you already understand and have excess funds that are not used, then go to others. otherwise, the principle of BTC investment which is the concept of a long-term pattern will change by itself. That's what I am and I'm still very young here (Newbie)