I'm fed up with all this cryptocurrency thing.
First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.
I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.
After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?
I wish I was never introduced to Bitcoin.
Any ideas on what I should do with my Ledger Nano X now?
First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.
I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.
After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?
I wish I was never introduced to Bitcoin.
Any ideas on what I should do with my Ledger Nano X now?
Actually nobody forces you to stay HODL because it's everyone's right to keep bitcoin when you own it or sell it.
If the problem of loss is actually this every investor should also be aware, because in market movements there will always be new supply and demand which causes price movements to rise and fall.
When this principle is not fully understood, I think we as investors will be very disadvantaged, because it is not impossible that the losses we will get will also be even greater.