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.🔥1. 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.🔥2. 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.🔥3. 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.🔥4. 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.🔥5. 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): Don’t 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.
🔥$200 into Dogecoin at the rate of $0.097 would get you - 2041 $Doge
🔥$200 into Fantom at the rate of $0.35 would get you - 557 $FTM
🔥$200 into Solana at the rate of $70 would get you - 2.85 SOL
🔥$200 into MATIC at the rate of $0.87 would get you - 227.5 $MATIC
🔥$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
🔥$200 into Cardano at the rate of $0.52 would get you - 382.6 ADA
🔥$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
🔥$200 into SHIBA INU at the rate of $0.00001000 would get you - 20,000,000 $SHIB
🔥$200 into DYDX at the rate of $3.04 would get you - 65.74 DYDX
🔥$200 into Memecoin at the rate of $0.040 would get you - 4968 $MEME
🔥$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 would pin this post to our profile, and it will remain there, till we get to the bull market.
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If $BTC - $BNB - $SOL - #ETH are going to crash and dump down to $0.00, it will happen because of it happened not because of those lines you drew on the chart, it is heartbreaking to still see some crypto traders using lines and ropes to predict the future of #BTC
Even if you predicted #BTC to go down to $40,000 and it does happen, we want to let you know that it is not because of those lines you drew, Bitcoin has a limited Supply, if nobody is selling the price of Bitcoin won’t be dropping
In other words, the reason why #BTC will go down to $40,000 is because of whales, investors and big institutions are selling and when Bitcoin gets to $100,000,
it is because more money is being invested into the market and nobody in the world can predict when we are going to experience more sells or buys in the future
Your lines and ropes on the chart can’t show you that, they can’t
like and share this, let all our technical experts see this, it is very important
Don’t buy any #meme coin or any coin at all because of what you see online 👎, if you lose your money, you alone will suffer it, you alone will deal with the pain and consequences
A lot of people have lost money because they bought into random meme coins or coins after reading one or two post from Influencers who were paid and were simply doing their job
Always do your Best Research
visit project websites
Look for Reviews check for partners and team behind the project, check their socials, look at the comments on their post, look at the number of followers they have and the number of views and engagement they are getting on their posts
Dropping This as a warning to all $PEPE investors and to let you know that if you ever lose 100% of your capital while investing and holding $PEPE , it is all your fault and you deserve it, why ?
You are expected to read about a project before investing into it, no matter how bullish you are about any project, always do your own Research 🔬, if you lose money, you alone will suffer it
$PEPE is a meme coin with no intrinsic value or expectation of financial return. There is no formal team or roadmap. the coin is completely useless and for entertainment purposes OnLy.
Imagine buying a coin created for entertainment purposes only and completely Useless with $100,000, if you lose it all, who would you blame ?
Some Traders own #PEPE worth over $500,000 and they could lose it all at any time according to what we are reading here
We are not trying to create FUD or discourage you from buying #PEPE , we are only passing a message to you
Buy more or Sell More, whichever you choose to do is all on you
In 2021 - 2022 a lot of crypto traders made a lot of money trading NFTs on $ETH blockchain, the NFT market was at an all time high as of that time
The concept of digital art on the blockchain has grown rapidly in recent years. NFTs (Non-Fungible Tokens) enable artists to tokenize their work, providing verifiable ownership and scarcity in the digital world.
Some pieces of digital art have sold for staggering amounts, with Beeple’s “Everydays: The First 5000 Days” setting a record at $69 million in 2021.
This phenomenon has sparked debates about the future of art, ownership, and how blockchain technology might reshape these concepts.
You are currently seeing $WIF Trading at $1.3 and you are not buying some, in a few days we are going to see this same $WIF trading at $1.5 - $1.65 and some people won’t still buy
By the time $WIF pumps and gets to $2.1 you will start seeing a lot of people buying
Look here, we are not going to lie to you, let us tell you straight up, #WIF is a solid meme coin to hold with good potentials, it is one of those coins you should have in your portfolio 💼
In 2-3 years #WIF can give you a 10x - 100x Return
From the current view of #WIF , it is trying to pickup and shoot for the sky, but the selling pressure at $1.3 region is very high
If we get more buying pressure, we can push ahead of $1.3 and start our journey to $1.5 -> $1.65
#PEPE is currently down 63% from its all time high of $0.00001717, buying $PEPE Now it is trading at $0.00000617 is definitely going to be a good thing in the long run
$PEPE is here to stay, has good community, active users and a lot of solid investors and believers at this point, #PEPE has dumped pretty good:)
If you are a long term Holder, keep holding your bags, no need to panic ⚠️
Dogecoin, which started as a joke in 2013 inspired by the popular "’$DOGE " meme, has surprisingly become one of the most well-known cryptocurrencies #DOGE
Despite its playful beginnings, Dogecoin has seen impressive price increases, particularly in 2021, fueled in part by endorsements from celebrities like Elon Musk.
The Dogecoin community is known for its fun and charitable nature, having raised funds for various causes, including sponsoring a NASCAR driver and building wells in Africa.
This combination of humor, generosity, and unexpected success has solidified Dogecoin's unique place in the crypto world.
The first real-world transaction using Bitcoin (#BTC ) took place on May 22, 2010, when a programmer named Laszlo Hanyecz paid 10,000 BTC for two pizzas.
This day is now celebrated every year as Bitcoin Pizza Day.
At today’s prices, those 10,000 Bitcoins would be worth over $300 million, making it one of the most expensive pizzas ever bought.
This story has become legendary in the crypto community, symbolizing both Bitcoin's humble beginnings and its incredible rise in value.
Some projects choose to burn (destroy) a portion of their tokens on purpose, aiming to create scarcity and drive up the value of the remaining tokens.
Binance, one of the world’s largest crypto exchanges, regularly burns its Binance Coin ($BNB ) as part of this strategy, hoping to reward holders by making each token more valuable over time. However, not all burns are intentional.
There have been cases where large amounts of cryptocurrency were accidentally sent to incorrect or non-existent addresses, resulting in a permanent loss that can’t be undone.
In the crypto community, “whale watching” is all about keeping an eye on the big players—those who hold and move large amounts of cryptocurrency, known as whales.
Traders pay close attention to these large transactions because they can signal major market changes.
There are even Twitter accounts and websites specifically dedicated to tracking and reporting whale activity, giving traders a heads-up when a big move might be coming.
Look at the wallet below, it belongs to a crypto whale with over $4,900,000 worth of $WIF
We currently have this wallet logged in on our end, but it is a view only wallet, with this we can monitor every transaction happening on this wallet, we will know when this whale swaps or buy any meme coin and if possible, we will buy too
Crypto whales, which are individuals or entities holding large amounts of cryptocurrency, have a lot of influence over the market. For example, just 2% of Bitcoin addresses control 95% of all Bitcoin.
Because of this, whales can significantly impact the market by making big moves, like buying or selling large amounts of Bitcoin all at once.
Ahhhhhhh🥶😱🤯😫 Warning ⚠️ to all Futures Traders $10,000,000 lost on $ETH Trade!!!! Here is what happened, this is sad 😖
This Trader went long on #ETH with $10M and probably thought he had caught the bottom on $ETH but at the end of the day he lost the money and got liquidated of $10,000,000
Here is our Warning ⚠️ To You
We have said this here over and over again, please and please, we are pleading with you, always trade with Stop loss, please, make sure whenever you are trading you have your stop loss set
It is better to lose $3,000,000 and have about $7,000,000 remaining than for you to lose the whole $10,000,000, you are a trader not a gambler
Who ever had this Capital is not a trader but a pure gambler, a pure gambler who should be placing bets on sports not crypto
If this is you 🫵 reading this, just know you did this to yourself, you blew away $10,000,000
As a Crypto Trader what happened to risk Management?
How do you enter such a trade without having your stop loss ?
Okay, why didn’t you risk 50% of the $10,000,000 since you had strong convictions about $ETH pumping ?
Now, at the end of the day #ETH will pump and get to over $3,000 and you won’t be there to make money, but if you had risked 30% ($3M) of your capital, you could have had another chance to go long on #ETH with $7M and if possible get a 100% ROI
A lot of traders don’t listen, we have said this here over and over again give this post a like so more traders will see it and you can bookmark this post to always remind yourself of this experience
We know you lost money today trading Futures on Binance, we know and understand what it feels like to :) but you need to take a break, if you keep fighting the market you will keep losing more money 💰
Why are you selling you 🫵 $BNB at $445 ? and why are you also selling your $SOL at $128 ? 🤔
Once again, this is not a good time to be selling your #SOL or #BNB , please and please, hold them
Don’t let the market shake you off, this dump will only last for a couple of days or weeks and after that we all will be fine 📟✊
Buy more $BNB , you know why ?
Soon, @CZ will be released, and believe In Us, by the time @CZ is fully out and back in the space, #BNB will break new all time high again and again 🐺⚡️🐺
We are seeing the high use of #SOL in creating meme coins right now ?
A lot of projects are launching on the Solana blockchain, we are very very very bullish on #SOL and we will tell you this
“ NEVER SELL YOUR SOL “ 🐺⚡️🐺
Here is what you should do now the market is dumping
Stay Tuned by Following Us and read our content, we are here for you and with you 🫶📟