Is investing in cryptocurrency a risky game? 🚨

[Uhochi]

Hi everyone, I'm still learning about crypto currency and the lots but I  wanted to share a conversation I had with a friend. 

So she's been hesitant to get into crypto, and I was trying to convince her to give it a shot. But she's particular about the risks involved.

She said something that stuck with me, 'I don't want to play a high-risk game with my money'. And I get it, the thought of losing your investment in this economy is terrifying.

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

[Oshosondy]

Cryptocurrencies means bitcoin and altcoins. Altcoins investment is very risky. It is not good to invest in bitcoin when the price is already high. You may need to wait. So investing on speculative asset should be done at the right time when the market has been very bearish for a long time. Bitcoin will get to all-time-high unlike altcoins that might not. It makes it less risky.

Hack will not be the reason I will not invest because if you avoid hack, coins are safe. Read and learn how to avoid hacks.

It is worth investing but do it at the right time.

[GreatArkansas]

(....)

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

Always risky! I already had multiple experiences that lost in investing, so for me it is really unpredictable even how confident you are that's why the money you will use in investing is the one you afford to lose because  you can't guarantee a win always, you need also to have a plan.

[Hewlet]

But it got me thinking, is investing in cryptocurrency really a risky game?

When you use the word cryptocurrency, it encompasses a whole lot of things some of which are highly risky like the meme coin and some altcoins, and others that are less risky like Bitcoin. You basically don't invest in crypto but rather invest in Bitcoin, a particular meme coin, or an altcoin. Because most of the people you most likely come across are traders who deal more on altcoins and are looking for quick and immediate profit, it's going to be very risky to invest in what they only trade to make an immediate profit and still experience a high level of loss at the same time making it look as though they are gambling with their money. So going back to your question, investing in crypto is very risky but investing in Bitcoin is less risky. But hope you know that when you're referring to investing in a particular digital asset you're going to keep it for a long time? You have to know this and have it at the back of your mind that if you're investing in Bitcoin and want to avoid any serious risk, you should be looking at a long-term investment and while you're doing that, you should understand that Bitcoin and whatever digital asset you're considering are very volatile and can occasionally experience some correction while pumping afterward. If you're investing in Bitcoin, you're certain that after some Minor correction or drop in its price, it will pump back but that's not always the case with most meme coins and altcoin and that's why it's best that if you're considering a digital asset to invest into, just stick with Bitcoin and save yourself from being bothered too much about volatility.

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

every sector has its own issues and threats and for this digital space, scam, hack and loss of your digital asset are the major things you have to protect yourself against so you don't fall victim.

For the aspect of dealing with scammers and hackers, if you ensure that you take all security measures that's expected from you in terms of keeping your seed phrase and all access keys only to yourself and never give a third party the benefit of getting access to it, you've done yourself a huge good. If you also don't fall for cheap schemes of luring you to believe some mouth watering promises that are deviced by scammers to steal from you, you won't have to bother about  them.

The other part id to keep your keys safe and never loose it for any reason, once you've lost your access keys, you've lost your coin entirely so you just do the basic and be sure you've got nothing serious to be bothered about.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

is it worth the risk? Absolutely yes. Are there experiences that have made me cautious in this space? I bet from the stories of people losing access to there keys and losing their funds in the process, it's just enough to be careful with regards to how I secure my funds.

[ajiz138]

Investing in crypto is risky so people often say "high risk - high return" the crypto market is volatile with high volatility so prices can go down more at any time, but you should never convince someone to jump into crypto to invest if he knows there is a big risk just do it yourself, you should not be blamed later because of the losses experienced by your friends.

Fraud, hacking and all kinds of other risks depend on your own security how to maintain assets properly.

Obviously for me it is worth the high risk.
Yes I am always careful so I will never invest in memecoins, altcoins that are not clear this risk is quite large, more confidence in bitcoin even though there is a significant decline in prices will go back up when you are still strong for HODL.

[Iranus]

Hi everyone, I'm still learning about crypto currency and the lots but I  wanted to share a conversation I had with a friend. 

So she's been hesitant to get into crypto, and I was trying to convince her to give it a shot. But she's particular about the risks involved.

She said something that stuck with me, 'I don't want to play a high-risk game with my money'. And I get it, the thought of losing your investment in this economy is terrifying.

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

You just need to remember that the higher the profit, the higher the risk and every financial market has risks, no market is risk-free and only always brings profits. People will often differentiate between bitcoin and altcoins when it comes to cryptocurrencies and of course, bitcoin is safer than altcoins but that doesn't mean it's risk-free. Bitcoin also has risks, never believe anyone who says Bitcoin has no risk, they are just over-exaggerating it. Also, the risk will depend on you because if you have knowledge about the market you will be able to limit the risk to the lowest possible level.

[Mayor of ogba]

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks.

Hacking doesn't make investing in altcoins risky because it is your duty to protect your crypto wallet so that someone else does not have access to it. What makes investing in altcoins risky is that most altcoins are built on hype, with no solid use case behind them, and they just want to scam investors who lack the knowledge to know the altcoins that will do well. Since it is difficult to tell which altcoins will do well, you should stay away from investing in altcoins so that you will not lose your money. But if you start a bitcoin investment, you will not lose your money to any unknown team because you will not be scammed.

[ShowOff]

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks.

Hacking doesn't make investing in altcoins risky because it is your duty to protect your crypto wallet so that someone else does not have access to it.

So you think, when every user has practiced good wallet security methods then they will be completely protected from risks?

I don't want to confirm your assumption is right at all because it seems misleading. However, there are always risks that you should consider wisely even if you have practiced good wallet security methods. Someone can still lose access to their wallet, make some fatal mistakes in wallet security practices or something like that, this human error can ultimately make you lose your bitcoin or altcoins in your wallet.

What makes investing in altcoins risky is that most altcoins are built on hype, with no solid use case behind them, and they just want to scam investors who lack the knowledge to know the altcoins that will do well. Since it is difficult to tell which altcoins will do well, you should stay away from investing in altcoins so that you will not lose your money. But if you start a bitcoin investment, you will not lose your money to any unknown team because you will not be scammed.

Risk is not only about price volatility, but risk can also be due to changing regulations or anything else. So when you talk about investment risk, be sure that you will not be able to completely avoid it, but can only minimize it.

[Aanuoluwatofunmi]

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

If you have something that you cherish so much like an asset, how do you handle it, are you taking control measures towards securing it from attackers or you're only taking it on a levity hand, this is how you will also experience same if dealing with any physical or fiat currency asset, to cap it all for you, many don't know or have an idea on what cryptocurrency is before they go into it, some cannot even differentiate between bitcoin and altcoins in cryptocurrency, how will they know the right thing to do and the required measure to take or the risk the includes what decision on investment they are making.

[Zanab247]

Investing in cryptocurrency is a risks op, but it hard for you to take the risk to invest in BTC and crypto to regret because many people have made plenty profit from BTC business because they took the risk to invest during the bear season to grab the opportunity to earn plenty profit in the bull season.

The reason your friend was avoiding the risk in BTC business, is that he or she heard the BTC business from newbie that made such person to have the fear of the risk that involved in BTC business, because you need to take the risk to hodl it for a long period of time before you can trade to take profit that will make you happy.

I will not lie to you, that there is no risk in BTC and crypto business, there is a risk, but try to have the skill of the decentralized currency and you will not be afraid to take the risk whenever there is an opportunity in the market because there are opportunity behind every risk you embrace.

[BABY SHOES]

You are just learning about crypto and then invite your friends to follow in your footsteps to invest in crypto, are you yourself not sure about the risks that will be faced later? Try to understand this first before you invite others and let's not force them it's not your responsibility.

We have heard the term the higher the profit the greater the risk, is that not the term we hear? So in crypto it will always be inherent, you know how prices can drop 50% and even rise more than 100% so for me this is worth it if you want to be more stable you can invest in gold.

I have been investing in bitcoin for only a few years but have learned many things so I am confident investing in bitcoin, there is no doubt that I will continue to have as much bitcoin as possible.

[SmartGold01]

One thing about investment is that they must be prepared for the outcome like to settle their mind to accept whatever that may associated with it whenever an investor is not yet wanting to invest it shows that such person hasn't made their minds to accept the risk involved that is why your friend has refused to invest because she knows that she can't afford to lose the money if finally got sink into the investment. But guess what? Do you know that when you mentioned about cryptocurrency it gives this bad mispresentation about bitcoin, if your friend invest in bitcoin there is every tendency that her investment could be saved than any other altcoin out there.

Let say for instance; such people you won't encourage them to invest in altcoin such as memecoin because they highly manipulated and you could lose your investment in just a twinkle of an eyes. So, while involving yourself with discussion that relates to investment you should try to clarify it to the person that bitcoin is not similar with other altcoin out there at least they can investment in bitcoin and have higher hope that their is investment is at least 60 to 80 percent saved depending on the kind of investment they choses to invest in.

Therefore investing in altcoin is a risky game, you need to be very mindful with the kind of altcoin you make investment and it shouldn't be those over hyped memecoin that is being flooded on twitter and various social medias.

[AprilioMP]

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

For me, yes. Investing in the crypto currency is at risk. The risk is that it can suffer losses due to price reduction and even no longer has a price.
Risks can be minimized if invested in the right coins and carried out for the long run.

Crypto a lot. The coins that I mean are one, Bitcoin.

If I am in your position, I will not try to convince others because it contains a great risk for me as the person who invites him if he has lost his money

[_BlackStar]

But it got me thinking, is investing in cryptocurrency really a risky game?

Game - what do you mean by game, investing is not a game but it is a place/ endeavor where you can expect money to work for you instead of you working to make money.

Meaning - “Investment is the activity of buying something ^{[bitcoin, real assets, or anything else]} with the aim of making a profit in the future.” You have to learn from its meaning so that you no longer call investing a game.

Investing in anything is always risky - but if you invest in bitcoin, the risk you take on should be worth it with the prospect of return. If you don't believe me - then say Michael J. Saylor has gone crazy with his bitcoin investments which have accumulated thousand of bitcoin so far. Are you sure Michael J. Saylor didn't know the risks?

[Jating]

Every investment though is a risk, stocks, gold, oil, we don't know what's going to happen, it's the unknown that will mostly scares investors. But so be it, that is the risk that we should take if we really wanted to win big at the end. So yeah, Bitcoin and Altcoins are risky because it's so volatile, however, Bitcoin is more resilient to manipulations and pump and dump scheme. So most likely it will turn out big for you if you know how to time the market, when to buy, HODL and then when to sell.

As for the hackers and scammers, I would say that it's part of the market already, so you as a investors, should know how to live with it. Protect your wallet at all cost, practice safe hygiene like not clicking any links even if they didn't look suspicious. That's why we said it here, BYOB (Be Your Own Bank), so you have total control of everything. With that, I think it's worth the risk.

[shinratensei_]

It's always risky, many people called crypto a highly volatile investment for a reason, especially for people that don't have knowledge and always buying at ATH, but if you know what you're doing you gonna make money, it is just a battle of wits in a nutshell.

your friend concern about the risk is actually good, knowing the risk instead of just blindly investing will spare her from losing money, but there's just some people that don't really tolerate risk you know, these kind of people never suited for risky investment, they better off with interest rate from bank deposits or some low risk investment for the sake of giving peace of mind.

Personally if i were someone that trying to get in touch with crypto investment, i'd try from smaller investment like $500 and then try to get the feel of the market and see whether i can really make profit from it or not.
after all, that's the only way you can test your patience and mental resilience when you see your asset is dumping. extensive experience with dealing of crypto ups and downs is what usually give you confidence, sort of giving you instinct to know when something gonna happen by also looking at the indicators of course  .

[Slow death]

Hi everyone, I'm still learning about crypto currency and the lots but I  wanted to share a conversation I had with a friend. 

So she's been hesitant to get into crypto, and I was trying to convince her to give it a shot. But she's particular about the risks involved.

She said something that stuck with me, 'I don't want to play a high-risk game with my money'. And I get it, the thought of losing your investment in this economy is terrifying.

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

I believe that when you say "games" you are actually talking about gambling. Well, there are many differences between investing and gambling, for example, this article explains these differences better:

- Investing and gambling both involve risking capital in the hopes of making a profit.

- A key principle in investing and gambling is to minimize risk while maximizing reward.

- Investors have more sources of relevant information than gamblers.

- Gamblers have fewer ways to mitigate losses than investors.

- Over time, the odds will be in your favor as an investor and not in your favor as a gambler.

source: https://www.investopedia.com/articles/basics/09/compare-investing-gambling.asp

Talking about the last point, read the last point and see the bitcoin chart:



now imagine that a few days ago you bought bitcoin when the price was at $70,000 and today the price of bitcoin fell to $60,000, you are at a loss, you will think: "the price will not go up anymore, the price will drop a lot" and the price really drops a lot to $30,000, you will already be at 50% loss, but look at the chart again, see that this has happened many times in the past, so if you are patient and don't sell anything, you will see that in a few years, something like in 2 to 3 years the price will surpass the $70,000 you bought and you will be able to make a profit. Historically, all people who bought bitcoin and held it for many years are in profit

but they had to be very patient in times of big drops, they didn't sell, now the same cannot be said about altcoins that a person can buy at the ATH and fall a lot and never again will the price of the altcoin break the ATH and the person will suffer a loss that never recovered. This is why it is very important to separate bitcoin from altcoins, bitcoin has a medium risk and altcoins are high risk

[Troytech]

It depends on what you are investing in, cryptocurrency is a general word that includes bitcoin and altcoins and investing in altcoin can be very risky if you are not careful you could lose huge amounts there, but bitcoin on the other hand has proven to be reliable, been one if the long lasting project bitcoin has also continued to increase in value and is also renowed as a good asset to invest in, any way with investing you must still invest what you can afford to lose, bitcoin is safe doesn't mean you throw all your money into it that is risky cause bitcoin is also volatile and you could end up in a lose if you are not prepared to keep that money for long.

[Felicity_Tide]

Hi everyone, I'm still learning about crypto currency and the lots but I  wanted to share a conversation I had with a friend. 

So she's been hesitant to get into crypto, and I was trying to convince her to give it a shot. But she's particular about the risks involved.

She said something that stuck with me, 'I don't want to play a high-risk game with my money'. And I get it, the thought of losing your investment in this economy is terrifying.

But it got me thinking, is investing in cryptocurrency really a risky game?

I mean, a lot of people are into it and we've all heard the horror stories about scams and hacks, but we've also seen the potential for huge gains.

So, is it worth the risk?

Have any of you had experiences that have made you more cautious or more confident in investing in crypto?  Please share I'd love to know

I wouldn't want to read across other comments, because I believe we have experienced users that must have given you the necessary answers to your questions. But one thing you should understand is that: majority of everything you see or hear about has it's good and bad side. Just imagine if crypto had only %100 advantages and %0 disadvantages, would you want to associate with it?. In Crypto investment, there is always a heavy risk involve, so you have to choose according to the risk you can manage, thereby investing what you can afford to lose.

And again, do not try to convince anyone into investing in crypto. You wouldn't want others to blame you for their investment failure when things goes wrong.

[Gozie51]

So she's been hesitant to get into crypto, and I was trying to convince her to give it a shot. But she's particular about the risks involved.

It was always said to be a risky adventure from inception and worthless, no wonder in 2010, Laszio Hanyecz bought two pizzas for 10,000 btc. This is no longer news as it is all over the media with just typing pizza and bitcoin on the internet  . Far back people didn't believe the price of bitcoin will get to what it is today and we can imagine how rich Laszio would have been today but he didn't see the vision and to hodl for a little longer.

Around 2014 to 2018, bitcoin was described as a bubble that is waiting to burst. That is, there have been expectation that bitcoin will crash but no, it is still available. Therefore, the point about bitcoin is not to rush in the investment. Do a research and check for it high and low, watch for the correction and buy at it bear. If you invest at the right time then before the fear of risk starts building up (for newbies), your profit margin would have started manifesting. However, it is never a risk if you want to invest for a long time.