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Reasons why you should NOT trade cryptocurrencies

CraigMcG2020
Sep 10 at 07:04
166 ieraksti
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

Karlos Fandango (Smith2525)
Sep 15 at 00:03
77 ieraksti
I prefer to focus on the positives rather than the negatives.

pathsofglory
Sep 17 at 10:55
8 ieraksti
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
53 ieraksti
@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 ieraksti
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 ieraksti
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
465 ieraksti
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.

Tocage
Nov 12 at 11:32
12 ieraksti
The main reason why people shouldn't enter cryptotrading is pretty simple. They will lose everything. If we speak about forex trading for example, then everything is intuitive clear there, you have to learn properly and practice a lot in order to make successful trades. However, if we speak about cryptotrading, then the crypto market can easily get you down even if you're a professional trading. Moreover, cryptocurrency is a very volatile and fluctuating asset, which get lots of energy from you , whether it's mental or physical one. So, I guess that if you aren't afraid of cryptos, then you're welcome.

kroxobor
Dec 06 at 07:11
8 ieraksti
The only reason people shouldn’t trade cryptocurrencies is if they don’t understand the market or are not willing to learn about it. Crypto trading is profitable and it’s a worthy addition to your portfolio if you are looking to diversify it.

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