Ben Won, a 22-year-old, dove into the world of cryptocurrency trading without fully understanding the risks of leveraged trading. He started by investing $100 in $BTC #Bitcoin in 2017, which grew rapidly during the bull run. However, he did not sell when the price dropped and instead continued to research and invest more money.
In 2019, he had invested 95% of his wealth in BTC and by early 2020, he had accumulated around 3 #Bitcoin . After being laid off due to COVID-19, he decided to explore leveraged trading. Unfortunately, he lost $16 million due to his lack of experience and understanding of the risks involved.
Ben Won's story serves as a reminder of the dangers of leveraged trading and the importance of fully understanding the risks before investing.
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