Why Crypto may go wrong for some people

[Gadei Blang Gapu]

The problem is that your friend isn't interest in cryptocurrencies.  

He is just looking for a quick and easy money. He will most likely get scammed, which ponzy schemes and similar...

He isn't interested in cryptocurrencies,  neither bitcoin.

Bitcoin may not offer quick and easy money, but probably some use cases may interest him

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

[Inwestour]

They only think about results, not a process or what could be the trigger to be able to produce. found the fact that many beginners do not know the basic science of trading and investing and they fail to do research. it will certainly have an impact on the investment or trade made. It's not just a matter of having money or not, it's useless if you have money but don't have the knowledge, then they just do everything with logic and according to their feelings. it just seems like guessing the price without any analysis. That is the reason why crypto will be a mistake for some people.

Haste is a bad ally in many ways, especially for beginners to cryptocurrencies. Instead of doing fundamental analysis before buying, they rush to follow some advice, or just buy some coin at random, because it seems to them a good deal.

But it doesn’t work like that, if you don’t have the necessary knowledge and experience, then you can’t expect a positive result. And the reason here is not that cryptocurrencies are not for everyone, but that before you start investing in anything, you first need to figure out very well whether now is the right time to buy, you need to have a plan of action in case the price starts to fall, and know when to sell. If all this is not there, then most likely a lot of mistakes will follow and, as a result, a loss of money.

[BD Crypto]

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.

Do your friend think that Crypto is a get rich quick scheme? Do he have any idea about coins or tokens? Do he have any investment strategy or knowledge about researching a cryptocurrency before investment? I don't think he have. None but beginners who don't have much knowledge or want a quick profit invest in suspicious tokens and these tokens can be manipulated or team can dump it's price. So it's obviously a bad idea to invest in a risky token or investing a huge amount in a single token. You have to divide your total investment in some of potential coins or tokens. I will always recommend only top ranked coins or tokens to invest for long term. One more thing, Without research or strategy crypto investment is more worst than gambling but they are different sector.

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.

Gaining success in every sector is difficult for lazy people. We must have proper knowledge about where we are investing or what are the advantages or risks involved. Everyone can easily gain knowledge about cryptocurrency or any investment from here or YouTube or articles. It's better not to be involved where you don't have at least basic knowledge.

[CageMabok]

Sir, For Point 2. If that's the reason, I agree. But how can it be overcome and not take more victims. please explain @bitmover. So that we, who are just here, don't get caught up in the Batman trap in this digital money world and last you say i also agre Bitcoin may not offer quick and easy money, but probably some use cases may interest him.

For Bitcoin it is not only interesting in terms of its use, but also interesting to make it as a future asset because Bitcoin has been liked by many people so it has provided a good opportunity for everyone to own it from now on. If you are a new person here whose name is directed to Indonesian territory, you only need to protect yourself and the assets you already have from the traps set by other people.

Even though people are usually new to the world of digital money, they are still reluctant to make large purchases because they may not know which cryptocurrency to buy. But you don't need to worry about that, because as long as you are not so trusting and willing when someone asks you to follow something or invites you to do something, you will never fall into the Batman trap that you meant.

[Patrol69]

Investing in crypto currency is not right for those people who know nothing about investing and only think about the positive aspects of investing. Maybe the person currently has money, so he is thinking of investing his money only to increase his money, but he does not think that if he invests, he can increase his money as well as lose it. There are some people who don't like to take risk and for those people it is better not to invest in crypto platform. If there is a tendency to take risks, thinking about investing without having a good understanding of the market, getting anxious if the money is slightly damaged, those who have such qualities should not invest in these platforms investing in these platforms will not be a good decision for them.

[kamvreto]

Haste is a bad ally in many ways, especially for beginners to cryptocurrencies. Instead of doing fundamental analysis before buying, they rush to follow some advice, or just buy some coin at random, because it seems to them a good deal.

But it doesn’t work like that, if you don’t have the necessary knowledge and experience, then you can’t expect a positive result. And the reason here is not that cryptocurrencies are not for everyone, but that before you start investing in anything, you first need to figure out very well whether now is the right time to buy, you need to have a plan of action in case the price starts to fall, and know when to sell. If all this is not there, then most likely a lot of mistakes will follow and, as a result, a loss of money.

Then the basic knowledge of trading is very important to learn. As well as doing research will provide a view that what will happen in the market. Everything must be done with good management, without management there will be no definite profit. when to buy and when to sell will indeed be what matters. looks simple, but in practice it will be difficult because it will be related to the advantages and disadvantages. there is no need to rush because it is a vice that will impact many things.

[lionheart78]

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.

Not only lazy but those who are weak of heart.  Also for those who have no interest in cryptocurrency.  In order to be successful in a cryptocurrency venture, one must be tough, eager to learn and passionate about cryptocurrency.  The cryptocurrency market is not gambling where one can have a chance of winning money with just a strike of luck.  Anyone who wanted to take profit from this venture needs to do research and keep updating himself about the updates and news of cryptocurrency.  So hard work is also needed aside from the knowledge and learning we gain from studying and researching the market.

[Viscore]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Exactly. People who are much knowledgeable on how to use and benefit from their bitcoin will always end up making profits, while those who do the opposite and just invest with greed will never end up in a successful investment. However, know that everything can be learned about bitcoin, but if you have established your wrong perspective about bitcoin, I guess that alone will never make you successful and profitable.

[Botnake]

I honestly think that beginner investors have the wrong mindset about understanding the basics of cryptocurrencies. They think that this kind of platform is a gateway in order to absoultey reap rewards after they invested a certain amount of money. But in reality, investing in cryptocurrencies require all the patience, determination, and knowledge similar to your conventional investment mechanisms (e.g. stocks, banks, real estate, etc.).

If a person wants to profit in cryptocurrency, then they should treat it seriously- investing without knowing what you just entered into results into loss of your profit in the future.

Whether they’re newbies or not, the fact that they have invested the wrong way will definitely lead them into consistent mistakes and losses. That’s why a lot have end up quitting because they never had the chance to correct their mistakes and just thought that quitting for good is a good option to cut their losses instead. However, for those who have re entered the market and are wiser enough, then they will not do the same mistakes again but chose to invest rightly not to maximize their profits, but also to minimize their losses as well.

[Mr.suevie]

I honestly think that beginner investors have the wrong mindset about understanding the basics of cryptocurrencies. They think that this kind of platform is a gateway in order to absoultey reap rewards after they invested a certain amount of money. But in reality, investing in cryptocurrencies require all the patience, determination, and knowledge similar to your conventional investment mechanisms (e.g. stocks, banks, real estate, etc.).

If a person wants to profit in cryptocurrency, then they should treat it seriously- investing without knowing what you just entered into results into loss of your profit in the future.

Whether they’re newbies or not, the fact that they have invested the wrong way will definitely lead them into consistent mistakes and losses. That’s why a lot have end up quitting because they never had the chance to correct their mistakes and just thought that quitting for good is a good option to cut their losses instead. However, for those who have re entered the market and are wiser enough, then they will not do the same mistakes again but chose to invest rightly not to maximize their profits, but also to minimize their losses as well.

Well experience is good for correction of mistake and everyone who has gotten involved into crypto and experience defeat or loses before should not just quit I think they should use it as learning point and take to correction for every mistake they made. Winners never quitting and quitting never win so quitting it's definitely not an option but so many supposed crypto enthusiast failed to understand this

[Mr.right85]

I your ideas when investing in cryptocurrency isn't a open one or one that doenst conceive the possibility of a lose as well, you would be doing it all wrong and it would be the more disastrous when it hits you.

One who doesn't anticipate the possibility of a lose is one who doesn't evaluates the risk, goes ahead to invest more than he or she can afford to lose and when the lose starts piling up, a pull back is often off the table as they Hope for a come back and many at times, it's not always the case.

Cryptocurrency is money but this money isn't just distributed to the number of investors out there but, serves for a means of investors having to ask and bid in an attempt to make best use of the facilities to earning them.

[mamesso]

In general, crypto is not wrong for some people, if other people can make big profits in Crypto investments, why can't your friends. The loss of thousands of dollars that your friend experienced after investing in crypto tokens is not crypto's fault, but his act of investing in crypto tokens does not have sufficient knowledge. There is nothing wrong with crypto, people involved in crypto are required to continue to analyze before deciding to invest in a token.
When you can't read, don't blame the book, it means there's something wrong with you.

[Negotiation]

I think not that crypto can be wrong for some people maybe they have no knowledge about crypto investing in crypto is not easy. There are many technical and financial issues that you need to learn first don't try to time the market Everything seems so logical and obvious when you look back in time. You may regret not buying bitcoin at a lower price or selling it at its peak. This regret will remain you do your research and if you think a certain crypto is underpriced buy it. Or if you think it's overvalued now, sell it there is nothing wrong with crypto, everything is easy if you invest in the right way.

[Inwestour]

Then the basic knowledge of trading is very important to learn. As well as doing research will provide a view that what will happen in the market. Everything must be done with good management, without management there will be no definite profit. when to buy and when to sell will indeed be what matters. looks simple, but in practice it will be difficult because it will be related to the advantages and disadvantages. there is no need to rush because it is a vice that will impact many things.

We need to evaluate the situation in the market and sometimes we need to adjust our initial goals, if we see that the market has good prospects for further growth, but this is easier to do when you have an initial plan of action.

I used to buy and did not think about when I would sell, I just acted according to the market, often I sold earlier than necessary and missed a good profit. Now I have a different strategy, I evaluate the potential of the coin globally, buy and wait for the goals set, it is initially clear to me what to do in this or that situation.

[odunybiz]

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 made the wrong decision for himself, and how did he get to know about cryptocurrency that led him to invest without having the basic knowledge of where he was putting his money? I think even in real business where you invest in somewhere like a shop, buying goods to keep, and other things require knowledge before starting, so I'm really surprised when your friend invested in cryptocurrency without the knowledge.

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

[YUriy1991]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

The reality is that many people just say it when they have problems, like @Dzwaafu11 said, it's absolutely right. But, what your friend did was right too. Maybe at that time in a position of confusion in making decisions. Naturally, was an experience he probably couldn't forget. So, if he plans to enter the market again, he will definitely be more careful so that he doesn't make the wrong decision and doesn't lose his thousands of dollars again.

[Issa56]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

If you heard about cryptocurrency and you just decided to go and invest in it, then you are getting everything wrong already, because most people that are going to teach you about cryptocurrency on social media wont be open to you, they will only be talking about the profit which you can make from cryptocurrency, but they will never talk about the loss, that's why you don't just have to believe everything you see on the social media, after learning from social media, you still have to go on your own to do more research. cryptocurrency is all about profit and lose, but some people just focus on the profit alone and forgetting about the lose, so whenever they end up losing, they will get disappointed and they will end up tagging bitcoin and cryptocurrency as a scam.

[RockBell]

Investing in crypto currency is not right for those people who know nothing about investing and only think about the positive aspects of investing. Maybe the person currently has money, so he is thinking of investing his money only to increase his money, but he does not think that if he invests, he can increase his money as well as lose it. There are some people who don't like to take risk and for those people it is better not to invest in crypto platform. If there is a tendency to take risks, thinking about investing without having a good understanding of the market, getting anxious if the money is slightly damaged, those who have such qualities should not invest in these platforms investing in these platforms will not be a good decision for them.

Since con artists are skilled at persuasion, they will always try to make you look bad in order to take advantage of the situation. This is why people are falling victim to scams simply because they lack knowledge and are unwilling to conduct research. As a result, even when you keep warning people to stop investing in projects they don't understand, they continue to be interested in the potential profit. As you mentioned in terms of understanding the market, there are different strategies that favor different people; you can do daily trading and also stake whatever suits everyone after research. Dealing with cryptocurrencies has to do with a number of factors that people don't understand about investing, such as the fact that as you calculate the profit you should also take the loss into consideration. This is because they forget that every business has its risk, and some risks might just favor them since it's a 50/50 thing. and be that the might is not stable we all need to be smart.

[Taskford]

He got to know about it through social media even before I came into crypto. He was added to a group where they were taught about it but I believe he should go for more knowledge through research before going ahead to invest. He never did. He think making money from crypto is that easy as some people use to say. That was what has put him in that serious mess.

The reality is that many people just say it when they have problems, like @Dzwaafu11 said, it's absolutely right. But, what your friend did was right too. Maybe at that time in a position of confusion in making decisions. Naturally, was an experience he probably couldn't forget. So, if he plans to enter the market again, he will definitely be more careful so that he doesn't make the wrong decision and doesn't lose his thousands of dollars again.

Mostly scam investment platforms or shitcoins is the common thing introduce by many people especially on social media since majority of them are just into referral fees and they just convince newbie to participate then leave them at risky situation.
For sure a lot of us experience this and since we encounter it already for sure he or other will never go back to that platforms again and will be more careful on next investment they want to take. The only key to avoid scam here is to research so hopefully newbie learn to do this before they regret their decisions made.

[Luzin]

cryptocurrency is all about profit and lose, but some people just focus on the profit alone and forgetting about the lose, so whenever they end up losing, they will get disappointed and they will end up tagging bitcoin and cryptocurrency as a scam.

Mybe he not studied the risks before investing in crypto?  I think if he had known this, he wouldn't have regretted much. Especially if he is a new person, he should start with a nominal that is not much to study. At the moment I understand crypto is not gambling, provided you don't rely on luck to make a profit. If he regrets it and giving up is bad, he should have persevered and tried to learn and return the lost funds. But not everyone has the mentality I said.