Post
Topic
Board Trading Discussion
Re: 7 Things to Know to Become a Successful Crypto Trader
by
LouVandetta
on 16/12/2019, 06:05:34 UTC
4) Do not loan funds for investing in crypto
Avoid trading in cryptocurrencies with borrowed funds. It is a popular advice in the crypto industry that you invest only what you are prepared to lose. This means taking loans from sharks or banks is not advisable as you are risking your borrowed capital in a volatile market with no guaranteed returns.
It would have been better if you, OP, added your very own advice, not just copied everything from the website.

And about borrowing funds, unfortunately I've seen quite of few cases that newbie traders borrowed money from others. And they believed that they could pay their loans after some trading. If only it's that simple. They thought that with trading (with a side note they have the knowledge of trading) they could doubled their funds in no time. Sadly it's not that easy.

And the other advices seems pretty common for traders to know beforehand.