People talk more about the abundance of cryptocurrency than the potential losses. As a blockchain and cryptocurrency tutor, I meet people every day to teach and discuss crypto, and the mind that most people have is abundance. They talk more about how $10 can turn $10,000. We have seen even more happening, but the other parts also happen. The story of crypto of some people is bad that we can’t even imagine.
One key thing everyone must know is that crypto trading is not a thing to jump in. I was in a client’s house a few days ago and one of his friends came and mentioned that he would like to invest in #feg. This was when they announced the upgrade and incorporated the smart defi. The token was already moving high, and he bought. I saw the curiosity in him and I could not advise him because there is a way people on this side of the world behave. If you try to advise and things go in a different direction, they will remember your name for bad till eternity. So I kept mute, and he bought.
I was leaving my house today, and he passed through my street. He called me to report what #feg is doing to his money. I smiled and told him you bought at the top side at that point. Also, there is a general issue with the war thing right now. We can only pray and act to make things get calm. Anyway, you don’t have to worry because it will still pick when things get back on track. You just need to give it time. His reply marveled at me. He said, “He bought low because the market was showing red.” This was when I realized his problem. He doesn’t understand the market. I simply told him, “you need education”. You can’t be successful in this sphere without education.
This is the major issue people are having. They hear of the abundance in crypto and they jump in. Then, after they see a massive loss on their holding, they shook. Even with my long-time knowledge, I still buy assets sometimes and lose a lot of money. With so many coins adding to the coin market cap daily, crypto knowledge is extremely important.
Because without the knowledge, you can be in the crypto sphere and be poor!