The newbies think that high leverage is the key to become wealthy in trading. But they don't know that many became broke with that strategy, a little bit of leverage is fine but if they set that more than 10 then that changes the risk that they're taking. Long term investing is the best, just think of the early adopters that have been holding it up to this moment, we're all winners already although I am guilty that I was one of the early sellers and yet, I've learned already from that mistake.
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Yeah, it's also the influencers fault by making them think that it's easy the way they are telling it to them. They make things too easy as if there is no need for training, back testing, charts analysis, fundamental analysis and other important trading stuff. All they think is the others have made a profit in trading and if they did, it can also happen to me. That's the thinking of most of the newbies but I have nothing against them, it's just the influence that they've got in curving their minds made it wrong and got them stuck into that thought.
All traders learn from their past mistakes, so that they can become more experienced traders in the future. Influencers don't actually promote these for free. They promote these by taking large sums of money from certain exchanges or other companies to attract newbies to join those high leverage trading platforms.
Since influencers make a lot of money promoting this risky high leverage, they attract newbie traders and entice them to start high leverage trading. And this high leverage trading ends a newbie trader's trading journey at the beginning. Therefore, everyone should be careful about trusting any advertisements on social media.