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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 mi
Today December 8, 2023, I am writing this to you, from my desk.
đ„$200 into Dogecoin at the rate of $0.097 would get you - 2041 $Doge
đ„$200 into Fantom at the rate of $0.35 would get you - 557Â $FTM
đ„$200 into Solana at the rate of $70 would get you - 2.85 SOL
đ„$200 into MATIC at the rate of $0.87 would get you - 227.5 $MATIC
đ„$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
đ„$200 into Cardano at the rate of $0.52 would get you - 382.6 ADA
đ„$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
đ„$200 into SHIBA INU at the rate of $0.00001000 would get you - 20,000,000 $SHIB
đ„$200 into DYDX at the rate of $3.04 would get you - 65.74 DYDX
đ„$200 into Memecoin at the rate of $0.040 would get you - 4968 $MEME
đ„$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 Â would pin this post to our profile, and it will remain there, till we get to the bull market.Â
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The U.K.âs getting serious about crypto, aiming to lock in a comprehensive regulatory framework by 2026.
It appears theyâre taking cues from the EUâs MiCA framework, which is dropping this year.
With nearly 10% of the populationâaround 7 million adultsâalready holding crypto, the governmentâs realizing this isnât just a passing trend; itâs a movement they need to harness.
Bitcoin pulled back 3% from that $99K peak, and it's got some pressure from the U.S. Treasury market and options expiring soon.
Standard Charteredâs Kendrick says when Treasurys look less sketchy, Bitcoinâs hedge appeal drops for now.
But here's the kickerâETFs and MicroStrategy are still stacking sats like crazy, with 77K $BTC since the election and MicroStrategy buying 134K more.
Looks like Bitcoinâs chilling around $85Kâ$88K before the next moon mission.
Less than a month after the story of Peanut($PNUT ) the squirrel and Fred the raccoon broke headlines, Mark Longo, the owner of the two pets whose tragic deaths caused a public outcry and spurred a movement, has launched his own token.
Longo spoke in a Twitter video about how he came to process the story of Peanut and Fred and has decided to launch a new token on Solana called Justice for Pnut and Fred (JUSTICE) to honor the memory of his pets.
He's also accused the crypto community of profiting from his personal trauma.
$PNUT community members have pushed back, pointing to approximately $50,000 in donations made to Longo, which they claim he immediately sold.
At the time of writing, JUSTICE has over $53.8 million in market cap with over 14,000 holders, according to data from Solscan, which was minted using the DeFi meme coin platform, Pump.fun.
Justin Sun, the founder of TRON($TRX )has made waves by investing $30 million in World Liberty Financial (WLFI), a decentralized finance project tied to Donald Trump.
This purchase, made at $0.015 per token, positions Sun as the largest investor in WLFI, which has so far raised $52 millionâjust 17% of its $300 million goal.
The Trump family stands to benefit significantly from WLFI. Through their entity DT Marks DEFI LLC, they are set to receive 75% of the platform's net revenues once sales cross $30 million.
However, the project has faced criticism for limiting sales to U.S. investors and for WLFI tokens being non-transferable, making them less attractive to the broader crypto communityâ
Onchain data reveals that ETF flows havenât been the primary causes of sell pressure for Bitcoin
Bitcoinâs recent price drop is being attributed to long-term holders rather than institutional investors, despite initial speculation to the contrary.
Bitcoin price fell over 5.6% in the past 24 hours to trade at $92,774 as of 8:52 am UTC on Nov. 26, Cointelegraph data shows.
However, it wasnât the institutions or exchange-traded funds (ETFs) that caused Bitcoinâs price decline, as the data points to long-term holders, also known as hodlers, according to Eric Balchunas, a senior ETF analyst at Bloomberg
Onchain data reveals that ETF flows havenât been the primary causes of sell pressure for $BTC .
Moreover, the ETFs have absorbed a significant amount of selling pressure, which came from long-term holders, crypto trader and technical analyst Kyle du Plessis wrote in a Nov. 24 X post: Source: CoinTelegraph
Whatâs all the hype around memes? A lot of people are losing money trading meme coins. Recently, someone lost over $100,000 on a meme coin. Many scammers are now using Pump.fun to create meme coins and scam innocent people.
Binanceâs @CZ had this to say: âI am not against memes, but meme coins are getting a little weird now. Letâs build real applications using blockchain.â
Memes are fun, but why is everyoneâs attention so focused on them now? Every young trader is chasing the next meme coin, hoping for a 10,000x return.
People no longer want to buy and hold coins; theyâre desperate for quick gains. Please, be cautious. Donât be fooled by screenshots circulating on Twitterâmany of them are edited.
Letâs focus on building real, problem-solving applications with blockchain technology instead of chasing fleeting trends.