A 12-year-old boy named Erik Finman invested $1,245 in Bitcoin when he was just 12 years old.
He made a deal with his parents that if he could make a million dollars by the time he was 18, he wouldn't have to go back to school. Well, his investment paid off big time!
By the time he was 18, his investment was worth over $2 million! He eventually became a millionaire and was even invited to give a TED Talk when he was just 15 years old.
Erik's story is an inspiring example of how taking risks and believing in oneself can lead to great success.
I still remember the day I first heard about cryptocurrency. I was skeptical at first, but curiosity got the better of me. Fast forward to today, and I'm hooked!
My crypto journey has been a wild ride of ups and downs, but I've learned so much along the way.
✔️Lesson #1: Never invest more than you can afford to lose.
✔️Lesson #2: Do your own research and don't follow the crowd.
✔️# 3 Lesson: Patience is a virtue in the crypto space.
What about you guys?
- What lessons have you learned on your crypto journey so far?
Hey there! Common signs of a scam include promises of guaranteed high returns with little to no risk, requests for upfront payments or personal information, and pressure to act quickly without giving you time to think.
Be wary of offers that sound too good to be true and always do your due diligence before engaging with any investment opportunity.
Don't Fall for the Trap: My Story of Being Scammed in NFTs
------ 😔 ⚠️-------
I was newbie ۔۔۔۔completely new to NFTs and didn't know anything about floor prices. One day, I stumbled upon a group where the admin shared daily screenshots of successful deals and claimed that his clients were earning double their investments. I was impressed and believed it to be true. He promised to take only a 10% commission when my NFT sold, which sounded reasonable.
He convinced me to buy an NFT for $200, promising a profit of $400 within an hour or at most 24 hours. I thought it was a great opportunity and bought the NFT without checking the floor price. Unbeknownst to me, the NFTs were likely free assets from a project, and he had sent me a link to buy them without disclosing their true value. He indirectly sold me his own NFTs, taking advantage of my ignorance.
But 24 hours passed, and the NFT didn't sell. I was waiting impatiently, and he came up with an excuse that most clients' NFTs don't sell initially, but when they're paired, they sell together. I foolishly believed him again and bought another NFT for $200 without knowing the floor price.
After another 24 hours, the second NFT didn't sell either. I started to suspect something was wrong and confronted him. He ignored my concerns and started flirting with me, suggesting a video call. I realized he was trying to distract me and that I had been scammed. I reviewed the chat screenshots and discovered that he had created fake conversations and was using them to deceive others.
I called him out on it, and he blocked me from the group and removed me from the channel. I was left with two unsold NFTs and a debt to my sister and friend, who I had borrowed money from. It was a hard lesson to learn, but I eventually understood the importance of researching and understanding NFT trading and floor prices.
I'm sharing my story with you all as a warning, so you don't fall into the same trap I did. Don't trust unsolicited investment opportunities, and always do your research before investing in NFTs. Be cautious of groups that promise unusually high returns, and never buy NFTs without checking their floor price.
MOSTLY PEOPLE WILL ASK WHY CHECKING FLOOR PRICE IS IMPORTANT RIGHT....
SO ..Checking the floor price is important for several reasons:
1. Avoid overpaying: The floor price is the lowest price an NFT has sold for in the market. If you buy an NFT without checking the floor price, you might end up paying more than its actual value. 2. Know the market value: The floor price gives you an idea of the NFT's market value, helping you make an informed decision about your purchase. 3. Don't fall for scams: Scammers might try to sell you an NFT at an inflated price, claiming it's worth more than its actual value. Knowing the floor price helps you identify potential scams. 4. Make informed investments: If you're buying NFTs as an investment, knowing the floor price helps you understand the potential return on investment (ROI) and make more informed decisions. 5. Avoid buying worthless NFTs: Some NFTs might have little to no value. Checking the floor price helps you avoid buying NFTs that are essentially worthless.
Floor price checking is necessary because it:
- Helps you understand the NFT's true market value - Protects you from overpaying or falling for scams - Enables you to make informed investment decisions - Saves you from wasting money on worthless NFTs
In summary, checking the floor price is essential to ensure you're making a smart and informed purchase in the NFT market.
( I really want to share all those screenshots & wanna reveal the scammer but maybe it's not right btw my main focus is on message & WARNING to newbies , please don't trust others & do YOUR own research ) #Write2Earn! #scammers. #Alert🔴
Traders use various risk management practices to protect their investments.
Some common strategies include setting stop-loss orders to limit potential losses, diversifying their portfolio to spread risk, and using proper position sizing to control the amount of capital at risk per trade.
Additionally, maintaining a trading journal to review and learn from past trades can help improve decision-making.
If you guys have more questions or need further details, feel free to ask! 📉☺️
- Most investors faced significant losses in H1, with only a few making profits. - Even seasoned investors struggled. - Altcoins imploded, with many falling to zero. - VC firms lost credibility. - Launching new projects became increasingly challenging. - Crypto dividends dwindled. - The community experienced profound ideological shifts. - Unforeseen changes left many devastated.
Stay calm and rational in this brutal bull market. It's a harsh reminder to adapt and evolve.
Boost Your Trading Profits with These 5 Essential Strategies!
1. Hedging: Protect your portfolio with hedging strategies using inverse perpetual contracts or options. This will help you offset potential losses and sleep better at night.
2. Trailing Stops: Lock in your profits as the price moves in your favor with trailing stops. This way, you'll never leave money on the table again!
3. Scaling In/Out: Enter and exit positions gradually to reduce risk exposure. This technique will help you navigate the markets with more confidence.
4. Volatility Management: Adjust your position sizes based on market volatility. Stay nimble and adapt to changing market conditions to maximize your gains.
5. Correlation Analysis: Identify correlated assets and avoid overexposure. Don't put all your eggs in one basket!
Personal Thoughts:
- Always stay informed but avoid emotional decision-making based on market news. - Set clear goals and risk management strategies before entering a trade. - Continuously learn from your mistakes and refine your trading approach. - Stay disciplined and patient, and never trade with money you can't afford to lose.
By following these strategies and adding a dash of personal discipline, you'll be well on your way to becoming a profitable trader!
Attention All Crypto Traders: Major Whale Move Detected!
A crypto whale known as 0x837 has converted $18 million from PEPE to Ethereum. This move comes as investors await the potential approval of a spot Ethereum ETF. The transaction caused a decline in PEPE's price, while Ethereum showed recovery potential. The approval of an Ethereum ETF could lead to increased institutional investment in Ethereum.
SUPREME COURT OVERTURNS CHEVRON DOCTRINE: A WIN FOR CRYPTO CLARITY
WHAT WAS CHEVRON DOCTRINE?
The Chevron doctrine allowed federal regulators to interpret unclear laws, giving them significant power to enforce regulations.
WHY DID THE COURT OVERTURN IT?
The Supreme Court deemed the doctrine "unworkable" as it created uncertainty and allowed agencies to change course without congressional approval.
IMPACT ON CRYPTO INDUSTRY
This ruling has significant implications for crypto:
- SEC faces tougher challenge in enforcing unclear regulations - Companies like Coinbase, Ripple, Binance, and Kraken have a stronger position - Paves the way for greater regulatory clarity in the crypto space
In short, the Supreme Court's decision limits the power of regulators to interpret laws and paves the way for clearer regulations in the crypto industry.
Welcome to the world of crypto investing! As a beginner, it's essential to understand the different strategies to make informed decisions.
Diversification is key to minimizing risk. Spread your investments across various asset classes and sectors to ensure that if one investment performs poorly, the others can help offset the loss.
Dollar-Cost Averaging involves investing fixed amounts regularly, regardless of market fluctuations. This strategy helps reduce the impact of market volatility and timing risks.
A Long-Term Approach is crucial in crypto investing. Holding onto your investments for an extended period can help you ride out market fluctuations and potentially reap greater rewards.
Research and Due Diligence are vital before investing in any asset. Understand the technology, team, and potential use cases to make informed decisions.
Start your crypto investment journey with a solid foundation. Remember, knowledge is power!
Personally, I've found that a combination of these strategies has helped me navigate the crypto market with more confidence. Diversification has saved me from significant losses, and dollar-cost averaging has helped me invest consistently without worrying about market dips. I've also learned to be patient and hold onto my investments for the long term, which has resulted in some impressive gains.
Always keep learning and stay informed – it's the key to success in the crypto space!
Ethereum's Fate Hangs in the Balance: Will ETFs Spark a Price Surge?
Ethereum's price has dipped to $3,366.97, and the market is in a state of limbo. The delayed launch of Spot Ethereum ETFs has created uncertainty, leaving investors on edge.
But there's a silver lining - a successful ETF launch could send Ethereum's price soaring. And with whales buying up coins and transaction volume on the rise, things are looking up.
The big question is, will Ethereum break through the $3,400 barrier and start a new bullish trend?