Investing in the wrong cryptocurrency is risky

[Sotherefore]

Most crypto investors do not carry out proper research when trying to invest in any crypto currency of their choice because they just believe that investing in any cryptocurrency can still be profitable to them in future, well in most cases investing in any cryptocurrency may be profitable in the future and Also risky .

There are cryptocurrencies you invest on which might limit the amount of profit you are supposed to make because they are not lucrative as others.

As a cryptocurrency investors you are supposed to carry out proper research to understand the type of cryptocurrency that are likely to be the most profitable to invest on , investing in cryptocurrencies random believing that it will be profitable to you in the future is a risky investment because there are some cryptocurrency that are not suitable for long-term purposes. When investing in such cryptocurrency the possibility of losing your money will be high because These sets of cryptocurrency is likely to pull out of existence , Sometimes the founder of such cryptocurrency may likely rugpull it leaving a lot of investors hearts broken..

There are a lot of crypto scam available on the internet and as an investors it is always a wise decision to know how to spot and understand the best and the most suitable cryptocurrency out there.

How can we easily identify potential cryptocurrency for long term purposes Investment ?

 

[Mataracy]

Though every thing in life involved risk and without taking the risk one may not be able to succeed in life at all. It also depend on how one can manage the risk and make good things out of it.
It really require that one need to be very careful and invest in to a good coin which can yield good profit.

 

[sincerem]

If I had invested money on ICP coin, I would have been on the floating loss, this coin has been on the drastic draining. The very first time I witnessed bits price, it was around $449 which happened to be 8-9 months ago. Since then, it's been rapid price furlough for the coin. The price have even gone down to just $22 currently, and languishing on 37th in the table. During the time it was peaked at $449, it was tanked around 14th in the table. Simply imagine the kind of slip off this coin have experienced.

It's simply a drastic downhill for this crypto currency, any one who invested earlier in the coin could've been on a massive loss of his or her hard earned money. Because it has seen more than 1000% decrease in price, which could've brought down someone's income to almost zero, of you invested $449 in the coin to purchase one of it, it will simply be at $22 worth. Such kind of decrease is devastating to one's mental health.

With all this said, it is very necessary to carry out our own research on any crypto currency we are going into, to avoid being at a huge floating loss.

 

[Cryptoworks]

Most crypto investors do not carry out proper research when trying to invest in any crypto currency of their choice because they just believe that investing in any cryptocurrency can still be profitable to them in future, well in most cases investing in any cryptocurrency may be profitable in the future and Also risky .

There are cryptocurrencies you invest on which might limit the amount of profit you are supposed to make because they are not lucrative as others.

As a cryptocurrency investors you are supposed to carry out proper research to understand the type of cryptocurrency that are likely to be the most profitable to invest on , investing in cryptocurrencies random believing that it will be profitable to you in the future is a risky investment because there are some cryptocurrency that are not suitable for long-term purposes. When investing in such cryptocurrency the possibility of losing your money will be high because These sets of cryptocurrency is likely to pull out of existence , Sometimes the founder of such cryptocurrency may likely rugpull it leaving a lot of investors hearts broken..

There are a lot of crypto scam available on the internet and as an investors it is always a wise decision to know how to spot and understand the best and the most suitable cryptocurrency out there.

How can we easily identify potential cryptocurrency for long term purposes Investment ?

I think regular examination of the market can make it clear in which cryptocurrency one should invest and not.

 

[btaliat]

Improper research most time is the main reason why people do not make the right profit in crypto. People just invest based on the present performance of coins not minding the future performance.

There was a time I wasted my money on TLM. I invested heavily on it and my investment was based on pure emotions. This has made many people lose money while trying to make money.

It is pertinent to make a very deep research not only about the current price and performance of coins that we want to invest on but on the future performance to mitigate any loss that may be incrued for not taking any research.

Personally, I do give some coins some time before investing in them. I have seen a coin that recorded 1000% the day it was listed on Binance but later dipped more than 2000% subsequent days.

 

[eldavis]

Though I am no crypto expert, but I believe there are sites where you can actually find out these information. If the coins are not listed on these sites then there is no need investing on such coins.

 

[Suba]

I admit, we are often tempted by news, quotes, fabrications by whales, and we should be able to avoid fried crypto, so as not to make losses in the future. Of course every crypto case will be different and we need different actions, and we must be able to understand and separate which is Rugpull, fried crypto, fake crypto etc. And of course it's a different case if we choose a leading crypto (bluechip crypto) as an investment, even though the price has fallen drastically we are not too worried, because we believe the price of bluechip crypto will rebound in the future. So in my opinion, if one of our crypto investments drops drastically, we don't panic, do research and solve each case according to the problem that occurs, Forget your losses if your case is Rugpull and fake crypto. We need to diversify crypto investments to reduce losses.

 

[Fufi]

If I invested money on some coin, I would have been on the floating loss, this coin has been on the drastic draining. it's been rapid price furlough for the coin.