5 Harsh Truth About Cryptocurrency That You Need To Learn Before Investing in It

Cryptocurrency is a bit scary term and most of us even today don’t want to invest in it.

Back in 2012, the price of Bitcoin is low enough that even if you have purchased a single bitcoin, you can be rich. But due to several controversies related to Bitcoin, most of us haven’t invested in it.

Did you have invested in it? Honestly speaking, I was studying in school and was small enough to know about it 🙂

So we haven’t invested in it but suddenly our friends, internet influencers were getting profit out of it. And we also want to earn that much money.

At that time we are feed with greediness and invest our hard-earned money without thinking a little bit. So I want to help you with that.

Let’s start.

1. Nobody Knows Everything

The crypto world is really a new concept, before 2009 there is no one who knows about Bitcoin. After 2009, some people tried out to invest in Bitcoin, and later they thought to teach others.

We call them Crypto experts. But do they really predict the future related to Cryptocurrencies? I don’t think so.

The main concept behind the influencer is to earn money from naive people and increase their following.

Yes, there is no doubt when a top company talks about Bitcoin it increases. But we all know about it, right.

Literally, I have seen a lot of YouTubers try to manipulate people by sharing some tips. Like some watch the stats, graphs, and say something out of it.

For me, it is useless.

Since the crypto price increases when more people trade into it.

I am not talking about Blockchain developers and other great personalities. They are really great and I have respect for them.

2. Blindly Buying A Crypto

One of my friends is earning a lot through crypto and I also want to be one.

So we blindly invest our money without learning anything about it. Since we are new to the market whenever a price drops we lack the confidence and sell it.

Let me give you a real example, one of my friends invested in Bitcoin and Ethereum. And later due to his greediness, he invested another $500 in unrecognized cryptocurrencies.

Later the price fall drastically and his $500 became $200. 

Similarly one of my other friends invested $1000 in Bitcoin. When Bitcoin dropped a little bit, she sold half of her bitcoin(short). The next day, Bitcoin dropped again, she was a little bit tensed and now she sold the remaining half of her Bitcoin. 

Here she thought that she will purchase at the lower price again but the next day Bitcoin jump up. And now she can’t do anything and left the crypto world.

So both of my friends were predicting the decision without any knowledge.

I think that most of us do the same kind of stupidity and become a loser.

3. Going Behind A Fake Influencer

So most of us jump into the crypto market without any knowledge, due to which most of us follow influencers.

Based on my knowledge and trading on crypto, more than 90% of influencers are fake and want to sell useless stuff.

Since people are investing their millions, most of the influencer wants to earn from the naive people, and they even succeed.

Nitin, but we don’t have time to analyze everything related to crypto and then invest in it.

Yes, my friend, I know so I have a great method to invest without following an influencer. 

Don’t be tensed, I am not selling and I don’t want your hard-earned money.

4. You Can’t Trust Anyone

Well, I have to admit that Government and other great personalities are against Bitcoin and other cryptocurrencies.

Even Bitcoin doesn’t have any CEO.

But, why I am talking about the CEO?

Let me give you an example, we all have heard about Coca-Cola and Ronaldo’s controversy.

Though this controversy impacted a lot, James Quincey (Chairman and CEO of The Coca-Cola Company) and their team are there to support Coca-Cola.

But what about Bitcoin and other cryptocurrencies? There is literally no one.

5. Don’t Invest All Your Money

Bitcoin today’s price is close to $49,308 but most of us can’t invest that much of the amount.

You will try to invest some amount of money soon you will get the profit. Then you will think that you are a genius and later you will try to invest as much as possible.

It is one of the common mistakes that most of us do.

Since we all have greed so most of us will try to invest as much as possible to earn.

But what if the next day it crashes or the government bans it.

We don’t know the future so you can’t trust anyone even me for that.

Let me give you one real example. Somedays before I met a top crypto expert and he shared with me his life experiences.

Actually, when he was new to this field, he was working in a tech company and invested 30% of his saving into the crypto world. Soon he got 800% profit.

Later he left the job and tried to collect as much money as possible and then invested in it.

After two months Bitcoin crashed. He actually purchased when the Bitcoin price was close to $58,000 and dropped to $35,500. 

He learned a lot from his mistake and now he is a top crypto expert.

Let’s Wrap Up

Today, the internet is full of scams and most of the influencers try to fool us related to crypto.

Instead of that, I want to provide you with all of the harsh truth that no one is talking about.

Now more and more people are switching to cryptocurrencies so there is a need for such type of story to help you.

What do you think about it?

1 thought on “5 Harsh Truth About Cryptocurrency That You Need To Learn Before Investing in It

Leave a Reply

Your email address will not be published.