How to tell your family you lost money in crypto

[Renampun]

If you've lost money, you have probably been hiding the losses from your spouse. Now is the time to speak up. The price might bounce back if the altcoin you bought is reputable, but the stress will stay until you’re honest.

Perhaps when you honestly say that you lost your money investing in crypto, they will say that you are so foolish to waste your money on that or other things that might hurt your feelings, but that is much better than hiding those losses and making yourself frustrated alone seeing that the investment you made has lost 90% of its value. but that's something you have to face because from the start, if someone invests in crypto, they already understand that high volatility is part of the risk, so large losses are still a possibility that must be accepted from the start, especially if the crypto they hold is not a popular token, so there is a big chance that the price may go to zero.

[coinlary]

Well,  this is Altcoin boar, I would have say otherwise  but  I will just say this ,  you can't  be sure you will get those money back from an altcoin even though  it still depends  on  the particular altcoin we're discussing.  

Yet , I will still categories  altcoins as ONE irrespective of the coin , even memecoins(but we can agree that those are way worse than normal altcoins). In short, you invested on an altcoin there's probably  little chance you will recover from it. Just like how most people  haven't  recovered  since 2021.

[uneng]

If you bought shitcoins, you simply has to be honest and tell your family you did a mistake, but you are willing to work hard to overcome it as soon as possible. Your family may get angry on you temporarily, but if you don't repeat the same mistake futurely, they will forgive and support you (at least, in case they really love you).

On the other hand, if you are holding Bitcoin, you may say it's a normal correction of the market, and all you have to do is to be patient and continue holding until the tendency reverts to bullish again. You may mention past history of Bitcoin price to explain it to them.

[Stable090]

We talk a lot about 'buying the dip' and 'HODL,' but we don’t talk enough about what happens when your portfolio drops 50% or even 99%—especially with altcoins and tokens.

When investing, you should know that altcoins are too risky, that’s what you are suppose to know, so when you lose 50-99% of your capital you are not suppose to blame anyone for that, you knew about the risk, and you still decided to invest in it.

If you've lost money, you have probably been hiding the losses from your spouse. Now is the time to speak up. The price might bounce back if the altcoin you bought is reputable, but the stress will stay until you’re honest.

If am trading and I lose, there is nothing am going to be hiding from my spouse since whenever I win I don’t hide anything from her. I don’t know why you going to hide anything from your spouse when you not doing a bad thing. When trading loss is normal, so you should let your spouse know about that.

[Bd officer]

If you've lost money, you have probably been hiding the losses from your spouse. Now is the time to speak up. The price might bounce back if the altcoin you bought is reputable, but the stress will stay until you’re honest.

To be honest, my wife knows about crypto, and I invest in crypto, so she knows that there will be both profit and loss. Actually, no one wants to lose, everyone plans to make a profit but if there is a loss, they have to accept it. So I share both profit and loss with my wife, she is not worried about it, she knows that I invest what I can lose. Now if my wife did not accept the loss, then I would definitely hide it. So if your wife accepts it, then there is no problem in telling your wife.

And altcoins are very risky, so you should invest 10-12% of your portfolio in altcoins, you should not take risks by investing too much money in altcoins.

[fortunecrypto]

Just say that you lost money investing in cryptocurrency, no shortcuts, no alibis. If you're a responsible family man, they will forgive you if you are the opposite, then they will hate you more.
Your reputation precedes you, and being a responsible family man will get you through on any family issues.

[asriloni]

Just tell your family if your portfolios is negative currently. There's no need to hide it from them. Just be honest if the lose you're suffering is impermanent lose. It can bounce back anytime as long as you are not realizing your lose by selling your alts.

Also tell them the volatility in the investment instrument is just a common thing. I think that's enough to give them comfy even when your portfolios is still in the negative.