How to tell your family you lost money in crypto

[Peanutswar]

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.

There's is nothing wrong to open up with your family about your cryptocurrency journey if you think you will feel safe and ease the pain in yourself about the losses you've got but make sure at the first place is you know already the risk if your investment, you are the one who are making a decision in life and you are the one who made the risk management this is the reason why we do not recommend to store your funds into the single bucket because if the price goes down and most of your assets are right there are not into a partition possible you ended up lossing most of your hodlings.

[Oshio-man]

Nothing will make me tell my parent that I lost funds in crypto investments despite they are fully aware that am into crypto investments, and what so ever that happen either gain r lost I will not share the news with my parent because I know what will happen when they hear such news from me or other people, moreover my parents will never support their children to use huge amount of funds to invest in decentralized investment base on the kind story they heard from some people that lost huge amount of funds in crypto investments, but if you are using what you can't afford to lose in crypto investments I don't think you will have rest of mind when the bearish season is staying long in the market.

[Silikiem]

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.

Sometimes the most reason why some  persons find it difficult to tell their family about their loss in cryptocurrency is as a result of the fact that their family isn’t in support of them venturing into cryptocurrency investments. They family might have advised them against such investment but they refused to listen to their family or spouse regarding that and so when they ran into loss in the process it’s usually difficult to open up to them and tell them you Lost money in crypto because at the end, instead of you getting consoled by them, you might end up being angered and they will make you hate yourself, so at that instance it’s better you don’t talk to them about it and fix yourself up. But if you know you can’t bear it any better and you feel like you needed someone to talk to about it then you should open up to them, there’s nothing wrong with that. After all it’s your money that’s been  lost and not theirs.

[Josefjix]

You forcing us to speak up?
Some of us are strong investors, we do not cry over our heavy loses publicly, we only wipe our tears in silence and learn our lesson while moving on to apply the lessons vividly, the only song we only sing is success stories from the pain we pass through, the newbie mistake in the altcoin teaches us great lessons, opens up our way, light up the inner spark we carry and then skyrock overtime.

That's how I roll, I've been down many times through wrong alt investment, I've been at the happiest moment too, via altcoin investment, so the lesson learnt is the big prospect.

[justdimin]

There's is nothing wrong to open up with your family about your cryptocurrency journey if you think you will feel safe and ease the pain in yourself about the losses you've got but make sure at the first place is you know already the risk if your investment, you are the one who are making a decision in life and you are the one who made the risk management this is the reason why we do not recommend to store your funds into the single bucket because if the price goes down and most of your assets are right there are not into a partition possible you ended up lossing most of your hodlings.

Yeah, having a higher stress just because you made a mistake and keep lying to them will end up even worse. First of all, ask any doctor in the world, anyone, doesn't matter what type of doctor, could be as simple as just asking about a clogged nose, to someone who does brain surgery, ALL doctors will tell you that number one reason for most sickness's is stress, and if you keep lying then you will have more stress and you will risk your health.

I promise you, your family would prefer you to be healthy than your financial losses still if you have already made them comfortable with all basic needs. When you are good at your minimum responsibilities then you may go for risking in crypto trading or investment and making some losses would be bearable by your family as well.

[m2017]

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.

An unfixed loss is NOT a loss.

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 the altcoin price recovers, then there will be no current "notional" losses, meaning there's no reason to repeatedly inform your spouse about the "swings and turns of the decline and recovery". In other words, you should only inform your spouse if you sold altcoins at a loss and documented it.

To avoid stress, simply avoid mentioning it until the losses have actually occurred.

Save your spouse's nerves.