I still remember the first time I stepped into the crypto world; it was a world filled with fantasies of getting rich.
At first, I started with a small capital of a few thousand and surprisingly made my first bucket of gold through a few market swings. The thrill of doubling my account completely hooked me.
It wasn't until I chose to leverage my wealth with a loan of 150,000 that I understood: the crypto world can not only make one rich but also lead to total ruin.
Entering the crypto world: From a few thousand to a monthly income exceeding ten thousand.
Four years ago, I first heard about the "crypto world".
Bitcoin's price continued to rise, and small coins doubled in value; my social circle was filled with news of getting rich quickly. In this atmosphere, I couldn't resist the temptation and dipped in with a few thousand.
At first, I followed the market rhythm and was lucky enough to earn some pocket money a few times. Although I occasionally hit a margin call, I could always continue trading by asking family for money or borrowing from classmates.
In the last bull market, I seized the opportunity and multiplied my 4,000 operating funds several times, making a monthly income of over ten thousand no longer a dream.
At that time, my confidence inflated to the point where I felt that the crypto world was a fast track to financial freedom.
Love arrives: The sweet price to pay.
In November of that year, my life welcomed a new turning point.
I met her, a girl I fell in love with at first sight. Her presence added sweetness to my life, but also a lot of pressure.
For her, I started spending the money I earned on our lives together: watching movies, dining out, traveling, and even buying her expensive jewelry...
Compared to my single life, my expenses skyrocketed. To meet her needs, I eagerly wanted to expand my earnings, craving to make more money.
Loan leverage: 150,000 sent me back to square one overnight.
In June of the following year, I made a life-changing decision: to enter with a loan.
I found a loan platform and applied for a 150,000 credit loan. After deducting fees and interest, all funds were invested in the crypto world, fully buying several 'potential coins'.
"Getting rich is just around the corner!"
In the first few days, the rise of the market boosted my confidence, and my 150,000 account instantly rose to 180,000. That thrill was addictive, and I even began planning how to use the money I earned to take her on trips to farther places.
However, the nightmare came too quickly.
On June 12th, Bitcoin suddenly plummeted, the market was in turmoil, and my funds began to shrink rapidly. In one day, 150,000 dropped to only 80,000.
"Don't panic! A rebound will definitely come!"
I gritted my teeth and persevered, but in the following days, the market continued to crash, and my account was wiped out. At that moment, I not only lost my principal but also incurred a debt of 150,000.
The price of youth: Greed left me with nothing.
This nightmare taught me many lessons:
1. Loan investment is poison: Using money that does not belong to you in pursuit of high returns can lead to massive debts if you incur losses.
2. The crypto world is a battlefield: Behind the wealth myths here are countless failures like mine.
3. Relationships need rationality: A good relationship doesn't need to be built on money; true love should be about companionship, not blind risk-taking.
A letter to every dreamer in the crypto world.
The crypto world is a place that drives people crazy; it makes one fantasize about getting rich overnight while ignoring the abyss behind it. My story is a warning against greed and the cost of debt. If you are also in the crypto world, please remember:
Do not invest with loans, do not mortgage your future on the gambling table of risks, and do not let desire consume rationality.
Do you still dare to take out loans to enter the crypto world? Share your story in the comments!