is trading in cryptocurrency dangerous or risky?

funmi

Verified member
The first time heard about the advertisement of cryptocurrency, I did not believe it could work. I thought it is a scam.
In fact, I never wanted to give it a trial on till this year (2021). My experience with forex trading also taught me alot of sense. It is true that cryptocurrency is volatile in nature and so some extent, it is risky too.
The fact that cryptocurrency is also a free trade is a point to be worried about. There is nothing regulating cryptocurrency, no government, country, or personality is controlling cryptocurrency.
All the above reasons and more makes cryptocurrency looks so difficult and risky to trade with.
Those are my own points of view about cryptocurrency? Is it really difficult or risky to trade with?
Please let me know if you agree to that point or not.
Thanks.
 

Yugocean

Moderator
Staff member
This is the feature of cryptocurrency, there are always two sides of same coin, not both can be head or tail; so cryptocurrency also has positive and negative effect.
On your point, I don't think crypto is dangerous, in fact we are going into digital era (exactly the era has begun). We have time to learn about it, to learn about future.
 
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btaliat

VIP Contributor
I won't judge whether cryptocurrencies is risky or not. The first rule of any investment is to do it with spare money. The amount you used while investing will determine whether the investment is risky or not. And not this alone, at times, we need to be knowledgeable of any investment we wish to venture into. When we are well grounded about a particular investment, the risk may be minimal.
 
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Chibson

VIP Contributor
Every business is risky and at the same time profitable if done the right way with the right knowledge and skills. I personally trade cryptocurrency and I can say that it's profitable if you have the right knowledge and understanding of how it works and how you learn manage your finances very well.
 
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ezcashbiz614

Verified member
Crypto is risky. Stocks are risky. Everything comes with risk.
Going to the ATM is risky, you could get robbed.
Leaving the house is risky, anything could happen.
The difference is whether or not you can accept the risks.
 
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Kingsley

Valued Contributor
There is a saying that goes thus; that everything in life is risky and the bigger the risk the bigger the profit that comes along side with it. If I say there is no risk in trading crypto currencies I will be a very big liar! There are enormous risk involved in trading crypto currencies. The market is filled with somuch risk anything can certainly happen.
 
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Sotherefore

VIP Contributor
It is not dangerous and it is not risky if you know what you're doing and if you know how to trade very well, it is only dangerous if you don't know how to trade and you can be at a higher risk of losing,if you're serious to learn you can actually learn how to trade and you can also be successful.
 
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Alexandoy

VIP Contributor
To be frank with crypto coin I am still skeptical that I cannot trust myself in engaging in crypto. Why would I buy something that would fluctuate in price? Trading is like gambling because there is no sound basis for the prices. When do you sell and when do you buy is just like praying for luck. If you are not lucky then you lose.
 
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