Investment Two Investment Mistakes that I have Made in the past

[Abigael]

I started having passion and curiosity about online money-making in 2018. I was in my second year of university back then and could not look for a job, yet I needed some money. Online earning presented itself as a great opportunity to tap into.

It was not long before I stumbled upon online investment methods. Voila! I can earn money without doing much at last.

Little did I know that caution needs to be taken before investing online. Soon, I was making some grave mistakes that I have come to regret a lot. They include;

1. Investing in High Yield Investment Platforms.

I lost so much money to HYIP sites. I remember getting paid the first few times and I thought that I had finally found something easy that pays well. But I lost so much after that even though I could be paid sometimes. When I learned later on that HYIPs operate as Ponzi schemes, I avoided them since then.

2. Taking a loan to invest in an HYIP site.

I remember borrowing $10 from a friend to invest with a promise that I would pay it back the next day. Only to lose all the money.

I am glad that I was able to learn from my mistakes. These days, I never invest in HYIP or Ponzi schemes and I rely on my income and not borrowed money to invest.

What are some of the investment mistakes that you regret? Please share in the comment section below.

 

[Etini]

It's great to hear that you have a passion and curiosity for online money-making. However, it's important to be cautious when investing online as there are many scams and fraudulent schemes that can cause you to lose money. High yield investment platforms (HYIPs) and Ponzi schemes are two examples of these types of schemes.

HYIPs are often marketed as a way to earn high returns on investment with little to no risk. However, these schemes are often fraudulent and operate as a Ponzi scheme, meaning that returns are paid to existing investors from funds contributed by new investors. It's important to be skeptical of any investment opportunity that promises high returns with little to no risk.

It's also important to be careful when borrowing money to invest. Taking a loan to invest in an HYIP site can put you in a difficult financial position if the investment doesn't work out. It's generally not a good idea to invest money that you cannot afford to lose, whether it's your own money or borrowed money.

It's good that you have learned from your mistakes and are avoiding HYIPs and Ponzi schemes. It's also important to be aware of other types of fraud and scams that are out there and to do your own research before investing in any opportunity. Additionally, it's important to diversify your investments and not to put all your eggs in one basket.