In the digital world, especially in cryptocurrencies, it is common to see screenshots showing impressive profits. However, many times these images are misleading. Here I share 7 tips so that you do not get carried away by the rush or fall into traps, along with real examples to better understand.
1. Don't Believe Everything You See
Screenshots can be easily manipulated. People can show huge profits that they never actually made.
Example:
A social media user posted a screenshot where he appeared to have made $20,000 in one day with a small coin. Several investors followed suit and bought that same cryptocurrency. Days later, the coin dropped in value and those investors lost much of their money, while the original user was never able to prove he had withdrawn his supposed profits.
2. Research Before Investing
Before trusting information from social media or forums, check the sources. Don't get carried away by the excitement of a "once-in-a-lifetime opportunity."
Example:
During the crypto rush in 2021, many people bought a newly launched cryptocurrency because they saw screenshots of huge profits. Later, it was discovered to be a scam. The cryptocurrency crashed, and investors who did not do their research beforehand lost all their money.
3. Each person has their own rhythm
It's easy to compare yourself to others who seem to be more successful. Remember that everyone has their own path, and the important thing is to move forward at your own pace.
Example:
A young investor started rushing into cryptocurrencies because his friends were showing great progress. Without enough experience, he invested all his money into a volatile currency and lost a large part of his savings. Later, he understood that his friends had been in the world of investments for years, while he was just starting out.
4. Be Patient, Don't Chase the Easy Money
Investing is not a path to getting rich overnight. Hasty decisions often lead to costly mistakes.
Example:
A Twitter user showed how he made $50,000 with a cryptocurrency in less than a week. Many users tried to replicate that strategy without knowing the market, buying just when the price was about to fall. Most ended up losing money by following a quick profit scheme.
5. Diversify your investments
Don't put all your money into one cryptocurrency or asset. Spread out your investments to reduce risk.
Example:
One investor put all his money into a small cryptocurrency because he saw a screenshot of huge profits. The coin plummeted and he lost everything. Meanwhile, another investor who spread his money across several coins and assets managed to recover and maintain stable profits.
6. Beware of Liquidity
A cryptocurrency may have a high value in theory, but if there is not enough liquidity, you will not be able to sell at the price you expect.
Example:
An investor bought a little-known cryptocurrency and saw its paper value reach $100,000. However, when he tried to sell it, he didn't find enough buyers, and the price quickly fell. In the end, he was only able to withdraw a fraction of his profits.
7. Learn from failures
Failure is part of learning. Don't rush into other people's successes; it's normal to make mistakes, but the important thing is to learn from them.
Example:
A young entrepreneur lost half of his initial cryptocurrency investment by following other investors' "strategies" on social media. After learning from that experience, he decided to study the market further and create his own strategy. Over time, he began to see positive and sustainable results.
NOTE: Patience, research and caution are key to avoid falling into the traps of fake screenshots or misleading information. Each person has their own process, and it is important not to compare yourself to others. Stay calm, diversify your investments and do not be swayed by promises of quick profits.
