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Reasons why you should NOT trade cryptocurrencies

CraigMcG2020
Sep 10 at 07:04
131 posts
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure


Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently

alexfisenko
Sep 14 at 08:29
1 posts
Karlos Fandango (Smith2525)
Sep 15 at 00:03
57 posts
I prefer to focus on the positives rather than the negatives.

pathsofglory
Sep 17 at 10:55
8 posts
Smith2525 posted:
I prefer to focus on the positives rather than the negatives.



If you do that then you will end up losing all your money. As good investor needs to look at positives AND negatives

marindateal
Sep 22 at 07:50
36 posts
@Karlos Fandango spot on , and I believe there is plenty of scope in crypto and many people can make tons of money if they trade correctly in that market.

necolesilvers
Sep 23 at 07:34
28 posts
CraigMcG2020 posted:
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure


Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently

I believe traders already are risk takers. When you are trading, you are not doing anything with 100% certainty. Confident traders are those who don't expose themselves to the risk they can’t afford to take.

owlkitten
Sep 23 at 10:25
9 posts
necolesilvers posted:
CraigMcG2020 posted:
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure


Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently

I believe traders already are risk takers. When you are trading, you are not doing anything with 100% certainty. Confident traders are those who don't expose themselves to the risk they can’t afford to take.



There is risk in everything we do. The important thing is to understand and manage the risk. Nothing can be gained without risk

RobSchiz
Oct 04 at 21:29
370 posts
CraigMcG2020 posted:
gwendolyncole posted:
Here are a few reasons that can hold you back from investing in cryptocurrency.
• It is highly volatile
• It is an unregulated space
• Legal issues can pop up
• The market is prone to illegal activities
• Do not invest if you do not understand the market and its working procedure


Completely agree with this. You need to know what you're doing and not go in half heartedly. You need to make sure you can afford what you risk and also you can stomach the volatility. 10% swings are very comment and that not might sound like a lot with a couple of hundred at stake but if you have a couple of thousand those swings hit a lot differently

Without proper knowledege, it will be very dangerous to trade in this market.

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