The easiest way to lose your money by investing in cryptocurrencies is to do it without looking at security.
And, in addition, if you are wrong in this aspect, you will lose EVERYTHING.
Cryptocurrencies are in vogue, and that makes many people want to buy bitcoin, iotas or pesetacoins NOW.
We are receiving continuous messages that tell us that cryptocurrencies will not stop rising and that someone who does not buy cryptocurrencies is basically silly because everyone will be millionaires except him. People receive those messages, and their impulse is to buy NOW. No matter if they are € 500, or € 10,000, they have to buy now so as not to miss the train. The first problem is that they do not know how to invest in bitcoins safely, so they get on the internet and write buy bitcoins on google, finding thousands of pages that make it very, very easy.
Those thousands of pages have been made by people who see the business in it, and many will be lawful. You will be fried on commissions, but decent people will have made them. The problem is that the world is full of people without morals, and they also make pages where you can buy bitcoins. And, unfortunately, these pages make your money, the one that has cost you so much to win, disappear.
The money does not go to your bitcoin account, and it goes to the web maker’s pocket. And, sadly, you don’t even need a website.
Tell someone that if you invest in the stock market, they can double their money in 10 years and laugh at you, but tell them that if you buy bitcoin they can double their money in a month and they will not hesitate, they will give you their money.
Phone calls offering to invest in bitcoins and other cryptocurrencies will be increasingly common, and there is no doubt that many people will sting. Therefore, the first thing you should NOT do if you do not want to lose your money investing in bitcoins is to act impulsively.
If you are going to buy cryptocurrencies, at least do it on certified, supervised pages and with certain guarantees. Do not give your money to someone who calls you on the phone telling you that you will double it in a month because it is a lie.
SPEND € 500 ON A COURSE TO LEARN HOW TO INVEST IN BITCOINS
The other day I went to a cryptocurrency talk. Simply to be a little informed, it never hurts.
The summary of the talk is as follows.
Bitcoins and cryptocurrencies are the future. If you do not already have your money in cryptocurrencies, you are dumb, because everyone is going to get rich except you. Bitcoins are the winning horse, and you have to invest your money now. You can learn alone, but you will waste a lot of time. Better give me € 500, and come to my 10-hour course where I teach you everything you need to earn money with bitcoins in no time.
I honestly didn’t know where to go.
The rapporteur made many ridiculous and smoke-selling comments, and sadly he would say that he convinced at least 50% of the attendees.
Anyone is an expert in investing in cryptocurrencies now, and courses to learn to invest in bitcoins have become very fashionable, they come out from under the stones.
If you want to make money with cryptocurrencies, you definitely have to learn.
But be careful, because many of those who sell you a course will have the only objective of taking out your money.
They will tell you what you want to hear, and that will also make you lose money since what people want to hear is that even a monkey throwing darts and buying cryptocurrencies insane can multiply by ten and even by 100 their money.
BUY BITCOINS BECAUSE IT WILL GO UP TO € 500,000
You already know that one of the feelings that make people lose the most money when they invest in the stock market is greed.
When something goes up without stopping, it seems that it will never stop going up, and that attracts many investors who want to earn easy money.
Unfortunately, everything that goes up goes down, and history shows us that people don’t learn.
Will the cryptocurrency bubble be next?
Here you have the evolution of the price of bitcoin in recent years. Now it has come back down a bit, and the price of bitcoin is around $ 6,000. But it came to be almost $ 20,000.
It is true that it seems that blockchain technology is the future. Cryptocurrencies, one of the blockchain applications, have the potential to change the way we treat money, yes. But that does not justify the graph of the price of bitcoin at all. Many say that since bitcoin is limited since there are only 21 million coins, its value is incalculable. That can reach € 500,000, even 1 million per bitcoin. With that, they justify it to rise without stopping But the people who invested in bitcoins when it was $ 20,000 will have already lost more than 60% of their money.
WORSE YET, ASK FOR A LOAN TO INVEST IN CRYPTOCURRENCIES
The first rule of investment is to invest only money that you will not need in the future. Debt to invest in bitcoin is to do the opposite, and you can pay it very, very expensive. It seems that buying bitcoins is the smartest thing right now, and it seems that it will never stop rising. Therefore, there are people able to ask for loans to earn even more money. But, look at your quote. A few months ago it was $ 20,000, and now it is $ 7,000. It has dropped more than 60%. Someone who bought $ 1,000 a year ago, for example, will not be very worried. But those who bought $ 20,000 (which will be many) will be pulling their hair. Here you have two news from people who, in my opinion, are simply crazy.