Common ways Newbie Crypto Traders lose their money
Pumped and excited to start trading , most newbie traders when starting their crypto journey encounter a lot of losses. Due to the happiness and desire to make quick profits, newbies easily make the following mistakes , that usually leads to lose of assets.90% of them are likely to engage in scam projects and also interact with websites that would steal their assets. Entering the world of cryptocurrency can be exciting, but it's important to be aware of potential risks and scams that newbies might face. Let's explore some ways newcomers can encounter losses or get caught up in scams in the crypto realm. FOMO stands for "Fear of Missing Out." It's a term used to describe the feeling of anxiety or apprehension that someone might miss out on a rewarding opportunity or an exciting event. FOMO often arises when people see others making significant gains or profits from a particular investment, causing them to feel pressured to join in quickly to avoid missing out on potential profits. This fear can lead individuals to make impulsive or rushed investment decisions without conducting proper research or analysis. As a result, they might invest in assets solely based on the fear of missing out on quick gains, disregarding the risks and potential downsides.They may feel compelled to buy into the asset at a higher price, fearing that if they don't act immediately, they will miss the chance for substantial profits.In summary, FOMO in the context of cryptocurrency investing is the fear of missing out on a lucrative investment opportunity, often leading individuals to make rushed or impulsive decisions based on the fear of not being part of a potentially profitable trend.đ„1. Lack of Knowledge:Newcomers might dive into cryptocurrency without understanding how it works. They could fall for misleading information or invest in projects they don't fully grasp. It's crucial to learn the basics and research before investing to avoid potential losses.đ„2. Pump-and-Dump Schemes:Some scammers try to inflate the price of a cryptocurrency by spreading false information, creating hype, and then selling their coins once the price rises. Newbies might get caught up in these schemes, buying at high prices and experiencing losses when the value drops suddenly.đ„3. Phishing and Fake Websites:Scammers create fake websites or emails that look like legitimate cryptocurrency platforms. Newcomers might unknowingly share their private keys or login details, leading to hackers stealing their funds. It's essential to double-check website URLs and avoid sharing sensitive information.đ„4. Ponzi Schemes:Scammers might promise high returns or guaranteed profits through investment schemes. Newcomers could be lured into these schemes, investing their money only to find out it was a scam, leading to financial losses.đ„5. Unregulated Exchanges and Tokens:Using unregulated exchanges or investing in new, unknown tokens can be risky. Some exchanges might not have proper security measures, and new tokens could be fraudulent or lack value, causing losses for newcomers.Staying Safe in the Crypto Jungle:To avoid falling victim to scams or encountering losses in cryptocurrency:- Educate yourself: Learn about cryptocurrencies and how they work before investing.- Verify information: Double-check sources and websites to ensure legitimacy.- Use reputable platforms: Stick to well-known and regulated exchanges for transactions.- Avoid FOMO (Fear of Missing Out): Donât invest hastily due to hype or pressure.- Secure your assets: Use strong passwords, enable two-factor authentication, and store your funds in secure wallets.If you find this educative, please like ,share and follow. You can support us with Tips as this would help us earn money and create more content #xmucan #BTC
Today December 8, 2023, I am writing this to you, from my desk.
đ„$200 into Dogecoin at the rate of $0.097 would get you - 2041 $Doge
đ„$200 into Fantom at the rate of $0.35 would get you - 557Â $FTM
đ„$200 into Solana at the rate of $70 would get you - 2.85 SOL
đ„$200 into MATIC at the rate of $0.87 would get you - 227.5 $MATIC
đ„$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
đ„$200 into Cardano at the rate of $0.52 would get you - 382.6 ADA
đ„$200 into BLUR at the rate of $0.49 would get you - 400.8 BLUR
đ„$200 into SHIBA INU at the rate of $0.00001000 would get you - 20,000,000 $SHIB
đ„$200 into DYDX at the rate of $3.04 would get you - 65.74 DYDX
đ„$200 into Memecoin at the rate of $0.040 would get you - 4968 $MEME
đ„$200 into XRP at the rate of $0.64 would get you - 308 XRP
The total amount if invested according to the above is $2,200, to be honest, this is exactly how I would invest $2,200 if I had it.
in the next 24 - 48 Hours we @X mucaN Â would pin this post to our profile, and it will remain there, till we get to the bull market.Â
I Have one request, over here at Binance square, we @X mucaN Â create one of the best and most entertaining, educational, inspiring, and informative content (Articles, Post and Videos), we do wish we can hit 30,000 followers on or before the last day of the month and year.
If you found this article Educative, entertaining, informative, and helpful please like, share, and follow.Â
You can support us with tips as this would help us earn money and create more contentÂ
please let us know in the comments section if you send us a tip, and we will give you a shoutout appreciation post
We just checked our $TON wallet and we saw this points token worth $0.5, please if you see this in your wallet, just ignore it and avoid interacting with it
Bhutan, a small country in the Himalayas, has been quietly collecting a lot of Bitcoin ( #BTC ) âmore than double what El Salvador has.
They use hydroelectric power (water energy) to mine Bitcoin, making the process eco-friendly. Bhutan has over 13,000 Bitcoin, which is worth hundreds of millions of dollars.
On September 16, Arkham Intelligence, a blockchain analytics platform, revealed that a group of addresses holding 13,029 Bitcoin (worth about $758 million) belonged to Bhutan.
This is the first public identification of Bhutanâs Bitcoin stash. Bhutanâs investment in Bitcoin has been largely under the radar until now, and the revelation shows how the country has quietly become a significant player in the cryptocurrency space.
Theyâve even partnered with a company to expand their mining operations.
Hey, Catizens! Last 24H to Deposit your CATI to CEXs before TGE! Deposit to CEXs and share 1,000,000 CATI prize pool!
Deposit CATI to the Exchanges will be suspended on Sep 18th 8 AM UTC. Now Deposit your CATI to CEXs, that is, there is a chance to Share 1,000,000 CATI prize pool (200K winners, 5 CATI each
After Sep 18th, 8AM UTC, players will not be able to deposit CATI before TGE. đ If you want to trade CATI as soon as CATI Spot Trading opens (Sep 20th at 10AM UTC), remember to Deposit your CATI to CEX now! Come and participate in the 1,000,000 CATI prize pool!
Tip: After this update, the UID verification of Depositing CATI to #Binance will be canceled, and you can directly fill in the address and MEMO to deposit!
We found this New Airdrop, They already have the potential of getting listed on two major Exchanges, this is based on the task we saw, Here is how To position and make the best money you can
Like and Share for Others to Participate đž
It is very very simple, no much stress đïžââïž
Tap and Hold the link below and copy it đ§
https://tinyurl.com/2sajefue
Paste it on your Browser đŠŠ
Connect your Twitter account đŠ
> Check your X Account Value Score and Claim Free XCOIN
> After your account has been analyzed , Tap on the view Rewards
> Now you are in the app, Scroll down and Tap on the Earn more $XCOIN button
> Complete all the task, as you can see in the second picture, our $XCOIN value is currently worth 0.13 $SOL
đšPlease donât believe this, we donât know if our 4,508 $XCOIN will truly be worth 0.13 $SOL when they finally launch đ but letâs all do well to position ourselves
We have given you another Alpha Donât forget to Follow Us to get notified when we drop more updates
MemeFi is now asking their users for 0.5 $TON which is above $2, according to them, if you pay the 0.5 $TON , you will get 50,000,000 memeFi coins
Could 50,000,000 MemeFi coins be worth more than $20 when they launch by October?
Here is what we think Giving you the best advice you can find đ€
If you have the money, we mean, if you know $2.7 is nothing to you, then go ahead and pay the 0.5 #TON and get the 50,000,000 coins. We never can tell what it could worth by 9th October
ButâŠ.. if you know you donât have the money, or you have only a little, please donât use your money to pay for anything, keep farming the one you can
Donât take out $2.7 out of the little $10 you have, be careful and act wisely