Cryptos?

I have never traded these. I feel like they are too risky isnt it guys? Who knows whats gonna happen to them in future.
 
I have never traded these. I feel like they are too risky isnt it guys? Who knows whats gonna happen to them in future.
Unless you understand that cryptos are, fundamentally, an alternative, decentralized, medium for the exchange of value between crypto account holders, then don't even think about trading them.

If you do understand this, then seriously take into consideration the vast amounts of speculation on their value that is being carried out on a massive scale by those who don't.

Once you have fully grasped both of these things, it would be wise to seek information on impending regulation and legislation in your own jurisdiction before embarking on trading in crypto.

As to the future, all that said, crypto is here to stay.

Unlike fake fiat currency, it can't be stolen, confiscated, blocked, devalued, taxed or frozen by corrupt governments or their central banks. (However much they'd like to or legislate for) It's completely decentralized. There is no bank.
= No Overall Control.

Anyone, yes, anyone at all, with internet access and the use of a cheap smartphone can use it.

No poncy KYC, AML or other ba**saching checks required. Just click, install and you're good to go.

Of course, there's no protection either, so if you get scammed or lose the lot, tough.

If you want to free the world, use crypto. If you want to get rich quick, well, there are probably better ways to try.

You takes your money and you makes your choices.

Good Luck.

:)
 
Unless you understand that cryptos are, fundamentally, an alternative, decentralized, medium for the exchange of value between crypto account holders, then don't even think about trading them.

If you do understand this, then seriously take into consideration the vast amounts of speculation on their value that is being carried out on a massive scale by those who don't.

Once you have fully grasped both of these things, it would be wise to seek information on impending regulation and legislation in your own jurisdiction before embarking on trading in crypto.

As to the future, all that said, crypto is here to stay.

Unlike fake fiat currency, it can't be stolen, confiscated, blocked, devalued, taxed or frozen by corrupt governments or their central banks. (However much they'd like to or legislate for) It's completely decentralized. There is no bank.
= No Overall Control.

Anyone, yes, anyone at all, with internet access and the use of a cheap smartphone can use it.

No poncy KYC, AML or other ba**saching checks required. Just click, install and you're good to go.

Of course, there's no protection either, so if you get scammed or lose the lot, tough.

If you want to free the world, use crypto. If you want to get rich quick, well, there are probably better ways to try.

You takes your money and you makes your choices.

Good Luck.

:)
Well thanks for that detailed explanation. That was quite helpful. Im gonna start studying about it soon.
 
Hi I’m new to trading and have a couple ‘k’to play around with I want to make fast money what’s my best bet and what’s the best cryptos I already know of xrp,btc,eth,bnb,lac is there any underdogs ?

Did you consider Defi? It's very hot topic however it's better to wait till correction is over before starting to invest
 
Completely agree with this. You need to treat this like a business and a profession if you dont you might as well go to Las Vegas youll have more fun
 
Hi I’m new to trading and have a couple ‘k’to play around with I want to make fast money what’s my best bet and what’s the best cryptos I already know of xrp,btc,eth,bnb,lac is there any underdogs ?
a friend of mine is backing VRA 30% in 3 days he likes to invest large in the small coins and when they pump takes out investment and lets the rest ride
 
I understand that you’re looking to make quick money but crypto is risky and may not be the best way to go about it. It can be profitable but I’d suggest patience, otherwise you might lose your investment. You could play it safer and invest in something like EURUSD, unless you’re comfortable with taking the chance of possibly losing your deposit in exchange for the chance of making quick money.
 
Be aware of the difference between get rich quick and get rich easy. You are looking at the latter which I'm afraid doesn't exist. Getting rich "quick" is often an event resulting from years of practice and work. And by quick you should be looking at a 5-10yr time frame. These people that are making a killing off of speculative cryptos have done so by gambling. You only ever hear about the success stories and not the vastly greater number of people who had their portfolios lose 90%+.
 
Hi I’m new to trading and have a couple ‘k’to play around with I want to make fast money what’s my best bet and what’s the best cryptos I already know of xrp,btc,eth,bnb,lac is there any underdogs ?
Do not invest on someone's opinion. You must learn how to analyze market and invest accordingly. I am wishing you all the very best.
 
Be aware of the difference between get rich quick and get rich easy. You are looking at the latter which I'm afraid doesn't exist. Getting rich "quick" is often an event resulting from years of practice and work. And by quick you should be looking at a 5-10yr time frame. These people that are making a killing off of speculative cryptos have done so by gambling. You only ever hear about the success stories and not the vastly greater number of people who had their portfolios lose 90%+.
Great advice right here!
 
Crypto is no different to other markets in the respect that the long game always wins out .
It's the get rich quick fallacy that traps new investors. Also don't buy the Highs ever !!
 
Cryptocurrency, like forex, carries a high level of risk. If a trader knows how to protect his gains and keep his losses modest, I believe he should never be discouraged from trying other markets. The ideal approach is to never risk more than you can afford to lose, and to never invest all of your money in one currency.
 
You won’t make fast money but will lose your couple of “K” quickly if you keep believing that crypto trading is a quick or easy way to make money. It’s far more volatile than any other market. It’s very hard to be right with your predictions about crypto coins because there isn’t actually much past data. The crypto market is relatively new and you need to be very careful while trading it.

I agree you either want to be on a small timeframe scalping or hold really long term.
 
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