The Risks of investing in Bitcoin
Investing or trading in Bitcoin or Altcoins will not be appropriate for everyone.
Never invest your life savings and never take out a loan to invest in crypto.
Bitcoin and all other cryptocurrencies are highly volatile. The volatility and market developments can exponentially reduce your investments and you can basically lose all your money. Cryptocurrencies can be a trap if you think these are “get rich quick schemes”. It took many years for Bitcoin investors to gain huge returns and they faced the risk to fully lose the investment.
As a beginner Beware of trading with leverage.
Always invest in Crypto only what you don’t need for many years and what you can afford to lose.
Follow this account on Twitter, if you consider leverage trading as a beginner.
Advice for Bitcoin beginners:
DO NOT DO THIS!
- Do not invest in Cryptocurrencies or Bitcoin money you cannot afford to lose.
- Do not enter leveraged trades unless you really know what you are doing.
- Do not take loans or invest your credit card limit in crypto.