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.

[Iamgoat]

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.

It may depend on the forum at which you are sharing your bad experiences, if not sharing your experience is a good thing especially when they are something which has negatively affected your financial situation or prospects because during the period of doing such, you might meet with someone who must have had same experience and were able to found lasting solutions to it, such people can really help you to act wiser the next time you are confronted with issues like this. But if you share your bad experiences in the wrong direction, there high chances you will get mocked and discouraged by many others there who are just sadist and won’t always look for the best way to make you recover your mistakes rather they will be looking for more of such mistakes and be making mockery of you. Some of them are envious in nature and do not want to see you progress in life.

[Findingnemo]

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.

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.

Well, just say it, there is no other way right.

Investment comes with risk, you make money or lose it but don't expect others to accept that fact. This is why people always suggest invest the money that you are ready to lose, not something that you needed for your survival.

[gibrab16]

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.

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.

it depends if you know for sure you lost the money then yeah you have to come clean and tell your family as soon as possible the longer you leave it the harder it will become and the stress levels will just pull you under just come out and say it time heals. however if your still holding then there is no point at putting yourself in a situation you could recover from. it how you are dealing with it mentally that effects the decision on when to actually let them know but be open and honest dont hold back they will get over it in time

[Marykeller]

The truth of the matter is that people easily talk about their profits to the people they know more than they talk about their losses to those same people they know. That's the reality of life.

Most individuals in the crypto space prefer to hide their crypto losses from people so that they won't feel pity or lay blames on of how they invested in altcoins. Not everyone is that bold enough to open up, they prefer to let their hodl altcoins bounce back before anything else cause it gives a sign of relief that something big is on the way, and when they are talking about their profits, they will make mention of how they were in loss before they start to be on profits in their altcoin investment

[Balmain]

Even a good altcoin can experience a 90% drop between cycles, as you said. If it's a really good project, it could return to its old price, but this could take a very long time, maybe a few years or more. This period won't be very good for the investor, and that's how it is for me I've experienced it myself. Ultimately, it's an investment, and when you explain it to your family, they need to be understanding. If you've risked everything, you're the one at fault.

[redsun114]

Hiding will not help you with anything, there is nothing that can change this, I think it's clear that we are going to make as much profit as we can with what we have and that is going to be enough. I know it is not really that crazy to just say something so bad and fer about it but if you keep on hiding that is not going to be good at all.

It will end even worse, and you should be careful about it. I know you are going to feel sad and scared but after a while things will get better.

[passwordnow]

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.

The real ones will forgive and cheer you up for telling the truth. But those who are only there for the benefits you provide for them will blame you for those losses. There's no need to stick with those kind of people even if they're your family, show them the real you that you can stand on your own and just take the losses. Move on and recover it silently in anyway that you can, prove them wrong that even without their support, you're going to do well because you've been in losses and the next thing about it is you'll be in your winning moments.

[Abu-Naim]

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.

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.

Altcoin investment is more or less like gambling if you don’t do further research about the value projects you invested in or if you invest based on hype from the crypto community.

Some altcoins are very good, investing on them is profitable because they have future, and you can rely on them even when the crypto market go bearish because they can easily bounce back especially when the Bitcoin price started to move because the team is good and wants something very good for themselves.

To avoid all these stories, buy Bitcoin and Hold Bitcoin, you can hardly get -50% in your portfolio that will lead you to panic because you are safe and you are sure you will bounce back.

[As-Soon-As]

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.

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.

That is why you should invest in trusted coins, for example, if you invest in Bitcoin, it is not possible to ask for a 99% price drop, it is very rare. Therefore, you should never invest in Altcoins, those who invest in Altcoins for the sake of money quickly lose their well-being. Because there is the most risk, so you should never invest with high risk and excessive pressure, you should be careful and invest in the right and risky place.

[Jegileman]

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.

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.

Do I need to tell my spouse about my financial condition, I don’t think it is necessary especially if I’m living just fine and everything that has to do with the household basic amenities are already taken care of. Somethings are meant to be kept secretive even if it’s to your spouse. I don’t engage with my amount of financial earnings to my partner, it is not ideal to me and I don’t but the idea. The best discussion we can have about it is the nature of the work I’m into and that’s all.

When investing in altcoins, we already know the risk involved in it, so coming up with excuses of losses incurred from it shouldn’t be a surprise to you but should have gotten use to it by now. When you’ve done you’re research before investing in any altcoins, a drop in value of it should not bother you too much because after the fall comes the rise for any reputable coin you’ve invested into. Just be honest to yourself while investing and that’s all you need to keep going in the crypto market.

[muratsink]

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.

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.

Yeah 100% you're right. I go the same way, 100% honest best way to go forward. Less headache and you avoid questions you dont want to lie on.