Common ways Newbie Crypto Traders lose their money
Pumped and excited to start trading , most newbie traders when starting their crypto journey encounter a lot of losses. Due to the happiness and desire to make quick profits, newbies easily make the following mistakes , that usually leads to lose of assets.90% of them are likely to engage in scam projects and also interact with websites that would steal their assets. Entering the world of cryptocurrency can be exciting, but it's important to be aware of potential risks and scams that newbies might face. Let's explore some ways newcomers can encounter losses or get caught up in scams in the crypto realm. FOMO stands for "Fear of Missing Out." It's a term used to describe the feeling of anxiety or apprehension that someone might miss out on a rewarding opportunity or an exciting event. FOMO often arises when people see others making significant gains or profits from a particular investment, causing them to feel pressured to join in quickly to avoid missing out on potential profits. This fear can lead individuals to make impulsive or rushed investment decisions without conducting proper research or analysis. As a result, they might invest in assets solely based on the fear of missing out on quick gains, disregarding the risks and potential downsides.They may feel compelled to buy into the asset at a higher price, fearing that if they don't act immediately, they will miss the chance for substantial profits.In summary, FOMO in the context of cryptocurrency investing is the fear of missing out on a lucrative investment opportunity, often leading individuals to make rushed or impulsive decisions based on the fear of not being part of a potentially profitable trend.๐ฅ1. Lack of Knowledge:Newcomers might dive into cryptocurrency without understanding how it works. They could fall for misleading information or invest in projects they don't fully grasp. It's crucial to learn the basics and research before investing to avoid potential losses.๐ฅ2. Pump-and-Dump Schemes:Some scammers try to inflate the price of a cryptocurrency by spreading false information, creating hype, and then selling their coins once the price rises. Newbies might get caught up in these schemes, buying at high prices and experiencing losses when the value drops suddenly.๐ฅ3. Phishing and Fake Websites:Scammers create fake websites or emails that look like legitimate cryptocurrency platforms. Newcomers might unknowingly share their private keys or login details, leading to hackers stealing their funds. It's essential to double-check website URLs and avoid sharing sensitive information.๐ฅ4. Ponzi Schemes:Scammers might promise high returns or guaranteed profits through investment schemes. Newcomers could be lured into these schemes, investing their money only to find out it was a scam, leading to financial losses.๐ฅ5. Unregulated Exchanges and Tokens:Using unregulated exchanges or investing in new, unknown tokens can be risky. Some exchanges might not have proper security measures, and new tokens could be fraudulent or lack value, causing losses for newcomers.Staying Safe in the Crypto Jungle:To avoid falling victim to scams or encountering losses in cryptocurrency:- Educate yourself: Learn about cryptocurrencies and how they work before investing.- Verify information: Double-check sources and websites to ensure legitimacy.- Use reputable platforms: Stick to well-known and regulated exchanges for transactions.- Avoid FOMO (Fear of Missing Out): Donโt invest hastily due to hype or pressure.- Secure your assets: Use strong passwords, enable two-factor authentication, and store your funds in secure wallets.If you find this educative, please like ,share and follow. You can support us with Tips as this would help us earn money and create more content #xmucan #BTC
Today December 8, 2023, I am writing this to you, from my desk.
๐ฅ$200 into Dogecoinย at the rate of $0.097 would get you - 2041 $Doge
๐ฅ$200 into Fantom at the rate of $0.35 would get you - 557ย $FTM
๐ฅ$200 into Solana at the rate of $70 would get you - 2.85 SOL
๐ฅ$200 into MATIC at the rate of $0.87 would get you - 227.5 $MATIC
๐ฅ$200 intoย BLUR at the rate of $0.49 would get you - 400.8 BLUR
๐ฅ$200 intoย Cardano at the rate of $0.52ย would get you - 382.6 ADA
๐ฅ$200 intoย BLUR at the rate of $0.49 would get you - 400.8 BLUR
๐ฅ$200 into SHIBA INU at the rate ofย $0.00001000 would get you - 20,000,000 $SHIB
๐ฅ$200 into DYDX at the rate of $3.04 would get you - 65.74 DYDX
๐ฅ$200 into Memecoin at the rate of $0.040 would get you - 4968 $MEME
๐ฅ$200 into XRP at the rate of $0.64 would get you - 308 XRP
The total amount if invested according to the above is $2,200, to be honest, this is exactly how I would invest $2,200 if I had it.
in the next 24 - 48 Hours we @X mucaN ย would pin this post to our profile, and it will remain there, till we get to the bull market.ย
I Have one request, over here at Binance square, we @X mucaN ย create one of the best and most entertaining, educational, inspiring, and informative content (Articles, Post and Videos), we do wish we can hit 30,000 followers on or before the last day of the month and year.
If you found this article Educative, entertaining, informative, and helpful please like, share, and follow.ย
You can support us with tips as this would help us earn money and create more contentย
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$BLUM airdrop confirmed in 2024 - How To Qualify for $BLUM Airdrop
What is Blum? Blum is a decentralized exchange that provides trading options for tokens from both centralized and decentralized platforms, along with streamlined derivatives trading.There will be both a mobile app and a mini app inside Telegram. We have something to tell you that will make you more pumped and serious about gathering the Blum points in the end ๐๐๏ธ
What is the Blum Crypto Bot? โBlum Crypto Bot is our Telegram mini app that serves as your initial point of interaction with Blum. We've designed it to kickstart your journey by earning Blum Points, introducing you to basic cryptocurrency mechanics in a risk-free way, without requiring any initial investment from your side. ๐๐๏ธ To get started with The Blum Bot, Tap and hold the link below for 2-3 seconds to easily copy it https://tinyurl.com/3mn9hf69 After that, paste it on your browser and this is what you will see
Tap the send message or open with Telegram How can I farm Blum Points? โAfter you sign up on Blum with the link we dropped above, You can start accumulating points by clicking on the 'farm' button, playing the Blum game Remember to ัheck in every 8 hours to claim your points!Wanna more points? Try inviting referrals โ score 10% of your buddies + an extra 2.5% from their referrals and complete social or daily tasks to earn more points!Stay super tuned! Remember, kid: more friends โ more points, more points โ more fun. Deal?
Why do I need Blum Points? โBlum Points are not just markers of your engagement; they can be redeemed within the Blum app for various rewards. Perhaps even trade them for something more exciting? Stay tuned for future possibilities! This was gotten directly from the Blum official website, so it means that one day you might be able to trade your Blum points So, if you want $100, try and gather Blum points worth $100 ๐๐๏ธ if you want $500, try and gather Blum points worth $500 ๐๐๏ธ if you want $5,500, try and gather Blum points worth $5,500 ๐๐๏ธ if you want $10,000, try and gather Blum points worth $10,000 ๐๐๏ธ
How to get more Blum Points: 1. Invite referrals โ Score 10% of your buddies + an extra 2.5% from their referrals 2. Complete social tasks to earn more points New tasks will be available daily. Stay super tuned! Remember, kid: more friends โ more points, more points โ more fun. Deal?
More Reasons why you should listen to @X mucaN and take Blum more seriously
Last month Blum rolled out a new task, where they asked their 25M plus users to join Binance and get verified, this was the same thing NOTCOIN did ๐ช Blum brings you every coin you need. Just one place, no more switching between multiple platforms. Easy, right? You have your Classic Tokens You have your Hot and Fresh meme tokens You have your L1/L2 tokens You have your meme coins, all available in one place
Blum is easy to use, Trade without chain switching, native token gas fees, or endless transaction confirmations. Blum would cost you $0.00 to get started and it has the potential of earning you up to to $10,000 Here in the picture below, Blum posted this on their social media accounts What this means is that in the next 2-3 months, you will be able to convert your Blum points to the Blum tokens
You have no reason to miss out on this opportunity Blum supports over 30+ chains โ๏ธ Cosmos Ethereum Solana Ton Binance Smart Chain Polygon TRON and many more ๐๐๏ธ
Once again if you want $100, try and gather Blum points worth $100 ๐๐๏ธ if you want $500, try and gather Blum points worth $500 ๐๐๏ธ if you want $5,500, try and gather Blum points worth $5,500 ๐๐๏ธ if you want $10,000, try and gather Blum points worth $10,000 ๐๐๏ธ
$BLUM has a lot of potential, getting $BLUM tokens for free is like getting Binance BNB for free back in 2017, when Binance BNB was trading for $0.03 and today Binance BNB is trading above $400 and has an all time high of $717 Donโt just participate in this Airdrop to earn $100 - $10,000 Use this as an opportunity to build generational wealth for yourself If you participate in this Airdrop and earn $340 and you sell your $BLUM tokens for $340, in 3-5 years your $BLUM token might be worth over $50,000 or not Blum Has a lot of potential
๐๐๏ธ If this gets seen by the team behind Blum, you can support us by giving us a Tip and if you Also find this educative, entertaining and helpful, you can also support
Remember the orange line we drew on $WIF 2 days ago? WIF crossed it and crashed to as low as $1.4955 all the way from $2.3
Now, $WIF has gone from $1.49 and is back to the orange line region which is $1.94 but that is not the case here anymore
The problem is why is WIF pumping here
Numbers one, this is already weekend, we have more sells than buy during the weekend
A lot of people would be taking profit to prepare for the next week and the crypto market crashed pretty bad so why is WIF pumping?
Well, this might be a trap to lure people to buy the top again, but if WIF can keep pumping this way, we will break $2.1 soon, but if WIF is not able to go past that orange region, we will see another heavy dump on WIF
Few days ago, when the whole $BTC crash was starting $BETA was pumping
We made a warning post, to let you know that you shouldnโt buy BETA because that pump was a trap
Now it is all clear
BETA is now trading at $0.066
When we posted it was trading at $0.083
LIVE
X mucaN
--
Donโt Buy $BETA without reading this ๐ฅ๐ฅ
Look at BETA which is currently in the gainers tab on Binance
$BETA is pumping while the rest of the market is crashing but this might just be a trap
$BETA cannot stand alone, eventually the market crash will get to it and it will trap a lot of people who are currently buying it right now because the dump would also be massive
Anyone buying BETA now is definitely buying the top
In the next 8-18 hours the market would reverse
Whales and a lot of people would start selling off to protect their capital and once it starts happening
The market would go down
So, if you want to buy BETA, hold on
Let it get dump first
Follow Us for more alpha updates that would put you ahead of other traders
Donโt Buy $LISTA without Reading This We gave you the following to earn you above $2,500 ๐Project ๐Potential 1: GRASS $350 - $10,000 2: BLUM $350 - $5,500 3: CATIZEN $80 - $1000 4: HAMSTER $80 - $500 5: YESCOIN $95 - $850 6: PIXELVERSE $180 - $3,300 7: DFLOW $58 - $2,360 8:HOT PROTOCOL $150 - $3,400 9: POCKET FI $50 - $1,000 10: MON PROTOCOL $50 - $500 11: AQUA $100 - $800
Our Big wins so far
Smart Layer: $350 - $2,000 โ
Ice Network: $85 - $550 โ
NIBIRU : $50 -$100 โ
NOTCOIN: $100 - $1,500 โ
This is not the end, if you are following us here and you are actively and consistently participating in all the Airdrops we post, you will earn at least $3500 Before the end of this year
We are the best, when it come to dropping solid projects with $0.00 cost that will earn you a good amount of money
We are the best here, we donโt post any random projects
๐ซต you donโt have to miss out on any of our updates again, Follow Us to get notified when we drop any update
$LISTA is currently experiencing a lot of sells and doesnโt seem to be settling down anytime soon
$LISTA is currently having $111,000,000 plus market cap and this crypto crash is going to affect LISTA a lot , LISTA is already down 41% from its all time high of $0.84 which happened about 14 days ago
If the market doesnโt settle down and stop dumping, we will see LISTA get to $75,000,000 - $90,000,000 market cap soon
LISTA is currently built on Binance Smart chain and in the main time Binance Smart chain
You can now connect your Solana wallet to Grass on the Rewards page. Resource usage will be tracked to your wallet address as we step into the next chapter of decentralizing the network.
Remember, 1,000,000 GRASS point is currently worth over 850 $USDC on whales pre market
We have over 800 referrals and over 300 have passed 100 hours of uptime
We believe that at least 180 of our referrals who have been consistent with GRASS should be having a minimum of 1,100,000 GRASS point and that is over $850
You see the good works we are putting out here
You should not miss out on any of our Airdrop updates
Donโt Buy $LISTA without Reading This We gave you the following to earn you above $2,500 ๐Project ๐Potential 1: GRASS $350 - $10,000 2: BLUM $350 - $5,500 3: CATIZEN $80 - $1000 4: HAMSTER $80 - $500 5: YESCOIN $95 - $850 6: PIXELVERSE $180 - $3,300 7: DFLOW $58 - $2,360 8:HOT PROTOCOL $150 - $3,400 9: POCKET FI $50 - $1,000 10: MON PROTOCOL $50 - $500 11: AQUA $100 - $800
Our Big wins so far
Smart Layer: $350 - $2,000 โ
Ice Network: $85 - $550 โ
NIBIRU : $50 -$100 โ
NOTCOIN: $100 - $1,500 โ
This is not the end, if you are following us here and you are actively and consistently participating in all the Airdrops we post, you will earn at least $3500 Before the end of this year
We are the best, when it come to dropping solid projects with $0.00 cost that will earn you a good amount of money
We are the best here, we donโt post any random projects
๐ซต you donโt have to miss out on any of our updates again, Follow Us to get notified when we drop any update
$LISTA is currently experiencing a lot of sells and doesnโt seem to be settling down anytime soon
$LISTA is currently having $111,000,000 plus market cap and this crypto crash is going to affect LISTA a lot , LISTA is already down 41% from its all time high of $0.84 which happened about 14 days ago
If the market doesnโt settle down and stop dumping, we will see LISTA get to $75,000,000 - $90,000,000 market cap soon
LISTA is currently built on Binance Smart chain and in the main time Binance Smart chain
Regardless of the market crashing, someone (probably a dev) bought a meme coin with $29 and sold it for $169,500 making a whopping profit of over $169,000
UPDATE: Mt. Gox moving $2.71B BTC In the past 8 hours, Mt. Gox wallets moved 47,229 BTC ($2.71B) from the cold wallet 1HeHL.
2701.8 BTC ($148.4M) was moved out of Mt. Gox wallets with 1544.7 BTC ($84.9M) sent to Bitbank through Gox address 1PKGG, and 1157.1 BTC ($63.6M) sent to unknown counterparty bc1qkjc, likely a listed repayments exchange.
The Mt. Gox address 16ArP continues to hold 44,527 BTC. Including the BTC moved to 16ArP, Mt. Gox wallets continue to hold in total 138,985 BTC ($7.52B).
These movements are likely to be in connection with the Mt. Gox repayments plan which has just been announced by the Mt. Gox Trustee, Nobuaki Kobayashi.
5 hours later, $WIF played exactly as we spoke about it
LIVE
X mucaN
--
Remember the orange line we drew on $WIF ?
$WIF went below the orange line today and right now WIF is trying to cross that orange line again, but this might just be a trap to get more people in and continue dumping
You here, if $WIF doesnโt get enough buy pressure, it is going to reverse and dump to as low as $1.45 - $1.60
Remember, the weekend is around the corner, we will experience more paper hands selling off their bags
So, be very careful with the pump you are seeing on WIF, donโt let it lure you into the market
The market is yet to get stabilized or fully settled from the crash that has happened
Are you among the people who lost money to the futures market today??
Tap here to read this ๐๏ธ๐
One mistake you can make, no, the greatest mistake you can make when you lose money to the market is trying to fight the market back to recover what you lost
That point where you start placing random trades wonโt make things better but worse because 98% of those trades would go against you
When you lose money to the market the first thing you should do is to take your eyes off the chart or market, we did not say take your mind off, we said, take your eyes off the chart and the market
If possible, close down all your trading apps and start thinking about it
Think about how it happened
Think about your mistakes
Think about signs you saw earlier before it happened
Doing this would help you identify what lead to your loss and signs you ignored before it happened and this would make you a better and a more strategic trader
Donโt try to fight the market to recover your loss immediately it happens, at that point you will be blinded by emotions and almost all trade from your emotions and feelings will eventually go against you
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