Post
Topic
Board Beginners & Help
Re: Don't invest money you can't afford to lose out of greed.
by
Asuspawer09
on 11/04/2023, 02:40:09 UTC
I've noticed that a lot of people are entering the cryptocurrency sector to invest in one or two projects because they've heard that bull run is on away coming and that have  many  people have plans to invest a sizable sum of money in some way to ensure they don't miss the opportunities.

I want to use this opportunity to warn newbies not to be deceived by the idea of becoming wealthy quickly by investing a sizable sum of money that they cannot afford to lose in the cryptocurrency industry. They should be aware that no any crypto advisor will advise anyone to invest their entire life savings in any project that it will do 10x, since nobody can predict the future of crypto industry, and with that  anyone who claim so, is a lier.

In fact, I would advise newbies to stay away from altcoins and only invest in Bitcoin in order to be on the safe side of the game, as there will be many shitcoins that will not recover after this bear market.

As a beginner, don't be overly eager to invest in any project without conducting your own thorough research.

Especially on Bullrun a lot of newbies would literally buy tokens out of nowhere thinking that they could easily earn a big amount of profit on that token since its Bull run they probably earn a profit, there are also some lucky people who get rich on that method but it does mean it's gonna happened to everyone as well, after that, in the long run, they lose a lot on their investment when they still holding their token so always take profit. It's a common mistake because we all sometimes become greedy.

But yes I would always invest especially in Bitcoin, a big percentage of your portfolio should always be Bitcoin. Not necessarily only bitcoin you could gamble a little bit on other altcoins in the market may be on the top altcoins that have a lot of potentials, I mean yes its altcoin but its high-risk high reward and it doesn't really matter since you only invest what you afford to lose at that token.