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[Kingsleyy]

There are thousands of people who claims they are making money From trading cryptocurrency but Research stated that atleast 90 percent of crypto traders lose their money, in this case it is only 10 percent of traders are benefiting from trading. It has Also been reported by the Federal Trade Commission that Americans lost over 80 millions USD in the last few months due to trading, Base on this statistics does it really mean that crypto trading is not profitable to 90 percent of traders ? What do you think about this.

 

[Chibson]

I think this is really necessary and from my experience when I got into trading then the expert who was mentoring me actually make me to understand that it is one of the easiest way to make money online me, going into cryptocurrency with this mindset actually made me to lose so much because I believe that is just for you to buy cryptocurrency and it will rise but the most important thing is how you can be able to spot to buy at the lowest bottom.

whenever someone ask me to teach him or her cryptocurrency I usually tell them that what if you invest about $100 and it turns $10 tomorrow what will you do. from their reactions I will probably know if I should proceed in teaching them or not. Cryptocurrency is of no doubt lucrative but it is not get rich quick scheme.

 

[Chibson]

Laughs. That's not how cryptocurrency investment and trade do work and when I first started trading, I didn't even have that mindset. You can't just buy ANY cryptocurrency and expect it to increase and never to decrease.
There's even a chance that immediately you purchase a particular coin that it will just start going bearish.
So while trading or investing in cryptocurrency, you should first of all analyze the market and take the best decision you can possibly come up with at any point in time.

this is a reason why we always advise people to buy in red and sell in green. A lot of people like to buy coins that are pumping but when it is in red they will look away. This is one of the reasons a lot of people lose money on cryptocurrency. Making money on cryptocurrency is not a rocket science but people make it complicated or difficult for themselves.

 

[Chibson]

The worst ratio in trading is that if the person don't make proper research ,the person won't gain anything , as a newbie before entering the market to invest,make your own research ,so you don't just enter the market and you start making huge loss ,you need to study the market well

it is always very important to make research before investing in any cryptocurrency. One thing people do not understand is that there are low caps cryptocurrencies that can do numbers if they are good projects. Such project usually give a lot of profit if you bought a red.

 

[SCAMEXPOSER]

this is a reason why we always advise people to buy in red and sell in green. A lot of people like to buy coins that are pumping but when it is in red they will look away. This is one of the reasons a lot of people lose money on cryptocurrency. Making money on cryptocurrency is not a rocket science but people make it complicated or difficult for themselves.

Honestly, people that rush to buy coins that are pumping mostly do regret it because after a bullish moment there comes a bearish movement for the coin to correct but when you buy the dip, you will be certain that the next move for the market is bullish moment which you will earn profit .

 

[Skede1]

Yes, people are making money from cryptocurrency, it's unlike bank where you keep your money or deposit money and your money had been decreased

 

[Skysaint]

this is a reason why we always advise people to buy in red and sell in green. A lot of people like to buy coins that are pumping but when it is in red they will look away. This is one of the reasons a lot of people lose money on cryptocurrency. Making money on cryptocurrency is not a rocket science but people make it complicated or difficult for themselves.

Well said. That is just the simple rule in trading cryptocurrency; you make your investments when the market is down for a particular coin and you earn money from it whenever the coin goes bullish again.
Sadly, many traders don't follow this simple strategy. A friend once told me how lost his investment in cryptocurrency when he invested in a coin when it had already gone bullish by over 200% and immediately after he invested, the coin dropped drastically below 0%. Can you imagine? Investing in a coin when it has skyrocketed to over 200%? What was he thinking? I nearly fought with him that day although he was just a newbie to it. Lol.

 

[SCAMEXPOSER]

Well said. That is just the simple rule in trading cryptocurrency; you make your investments when the market is down for a particular coin and you earn money from it whenever the coin goes bullish again.
Sadly, many traders don't follow this simple strategy. A friend once told me how lost his investment in cryptocurrency when he invested in a coin when it had already gone bullish by over 200% and immediately after he invested, the coin dropped drastically below 0%. Can you imagine? Investing in a coin when it has skyrocketed to over 200%? What was he thinking? I nearly fought with him that day although he was just a newbie to it. Lol.

That's the spirit of fear of missing out, he didn't get his strategy well at all, in such situations he needs to be extra patient because after a bullish market offcourse it will crash. I don't invest in any coin that is trending or pumping though one can trade it on a short time basis.

 

[Chibson]

Honestly, people that rush to buy coins that are pumping mostly do regret it because after a bullish moment there comes a bearish movement for the coin to correct but when you buy the dip, you will be certain that the next move for the market is bullish moment which you will earn profit .

Exactly, unfortunately a lot of people do not know about this and that is one of the main reasons they lose your money. if you really want to make good amount of money on cryptocurrency then you should remove greed. Greed makes people not to know when to take profit.

 

[Kingsleyy]

Laughs. That's not how cryptocurrency investment and trade do work and when I first started trading, I didn't even have that mindset. You can't just buy ANY cryptocurrency and expect it to increase and never to decrease.
There's even a chance that immediately you purchase a particular coin that it will just start going bearish.
So while trading or investing in cryptocurrency, you should first of all analyze the market and take the best decision you can possibly come up with at any point in time.

Lolz, but the funny thing about cryptocurrency is that we all will have one way or the other of learning our lesson , you might also have your own way of learning a lesson in the crypto space, for now I am investing in cryptocurrency and there was a cryptocurrency I invested on 5 months ago , it is now that the coin has reached the original price which I invested , immediately I invested in the coin its actually dropped by almost 50% but I didn't bothered I still hold on, but now it has rise back to its original price.

 

[Skysaint]

That's the spirit of fear of missing out, he didn't get his strategy well at all, in such situations he needs to be extra patient because after a bullish market offcourse it will crash. I don't invest in any coin that is trending or pumping though one can trade it on a short time basis.

Seriously, he didn't make the best decision at that time. I wouldn't have considered that even when I was still new to trading in cryptocurrency. Now the coin has never rised above even 50%, according to what he said. So he clearly have lost his investment, unless the coin goes very bullish again when he can't say when.

 

[GoldenLady]

I've been in cryptocurrency for more than a year and I've lost more than I've gained. However, its not that people don't make money with cryptocurrency, it's only the wise and patient that do so.

One of the most important things would be t do your own research and hodl gems you believe in if new instead of trading and loosing all the time.

 

[MayorKayz]

Trading cryptocurrency is profitable. Most of the 90% of the people that lost there money trading cryptocurrency are those that knows little about trading cryptocurrency before they traded it.
It is easy to trade cryptocurrency than to trade forex. Trading cryptocurrency for those that has the knowledge. They can earn up to 10% from there trades daily.

 

[Wisdom01]

Trading cryptocurrency is profitable. Most of the 90% of the people that lost there money trading cryptocurrency are those that knows little about trading cryptocurrency before they traded it.
It is easy to trade cryptocurrency than to trade forex. Trading cryptocurrency for those that has the knowledge. They can earn up to 10% from there trades daily.

yeah lot of people have lost their money trading cryptocurrency ,they don't know without proper learning , it would be impossible to trade and earn more money , cryptocurrency require that learning and understanding about market situation , to know the various requirements to earn more money

 

[BusyCat]

Yes, people are making money from cryptocurrency, it's unlike bank where you keep your money or deposit money and your money had been decreased

Yeah , banks are skeptical at times, their fixed deposit is also not worth the risk taken by us to trust the bank. Cryptocurrencies are way better because we own it entirely and can trade it anytime , anywhere in our comfort zone just by having a single mobile phone to access trading app.

 

[Wisdom01]

Yeah , banks are skeptical at times, their fixed deposit is also not worth the risk taken by us to trust the bank. Cryptocurrencies are way better because we own it entirely and can trade it anytime , anywhere in our comfort zone just by having a single mobile phone to access trading app.

Yeah we could hold cryptocurrency in our wallet ,as we could be able to control the way we want our money to be , cryptocurrency are really part of the best way for us to make more money online ,if only the people trading could actually see the importance and usefulness of it

 

[BusyCat]

Yeah we could hold cryptocurrency in our wallet ,as we could be able to control the way we want our money to be , cryptocurrency are really part of the best way for us to make more money online ,if only the people trading could actually see the importance and usefulness of it

Yeah , unfortunately there are still many people who think cryptocurrencies are not easy to manage or trade. Offcourse trading requires good strategies to make decent profit , but there's no harm in trying out the new technology or a way to make money , instead of completely ignoring it just because their peers or country doesn't believe much in cryptocurrency. Cryptocurrency is definitely very unique and only the people who trade and use it in their daily life will know the real importance of it.

 

[achawaskey]

From the statistics you gave it might be true, because cryptocurrency trading these days has increased tremendously and most traders are ill-equipped about cryptocurrency trading, only want to make money and result for them losing there money.

 

[Wisdom01]

Yeah , unfortunately there are still many people who think cryptocurrencies are not easy to manage or trade. Offcourse trading requires good strategies to make decent profit , but there's no harm in trying out the new technology or a way to make money , instead of completely ignoring it just because their peers or country doesn't believe much in cryptocurrency. Cryptocurrency is definitely very unique and only the people who trade and use it in their daily life will know the real importance of it.

those people who actually don't believe in it are really in missing a lot , because the continous growth of cryptocurrency gives them more reason on why they should place in more interest and concern in it ,and also invest in it , because of the promising nature attached to it

 

[Balint098]

Obviously, yes. But trading is not the only way people can make money through cryptocurrency. They can also do regular mining, cloud mining, staking, P2P lending, liquidity mining, and many more. Trading is not for everyone because of its rather complex calculations and the need to predict the market.

 

[BullyMaguire]

No, we are not making any money we are just doing trading because it's fun. No seriously only 10% makes money that is far from the truth almost any traders earns from trading but it's not always greens and butterflies sometimes we lose money too but trading is kinda easy so if you lose too much and too often there's something wrong you're doing