One of the most frequently repeated pieces of advice in this type of risky investment is to never invest money that is needed.
The dream of many is to become a millionaire overnight, or take a financial decision that catapults you to success. Since the incorporation of the cryptocurrencies to the world monetary system, many people knew multiply your savings with this technology.
Bitcoin It is one of these currencies, which is used to buy and sell things online independently of banks. It works with a technology called blockchainwhich records all transactions securely and transparently. People can get bitcoins by buying them with traditional money or “mining” them with computers that solve complex mathematical problems. By being decentralizedBitcoin allows direct and fast transactions between people anywhere in the world.
However, entering at the wrong time buying and selling wheel of Bitcoin can sink all your investments. This is the story of a anonymous Reddit userwho risked everything to grow his savings, but he lost everything because of a bad decision and now he warns everyone about the dangers of entering into new things without being well informed.
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A bad investment in Bitcoin
This man, without consolation, says that With his wife they raised $80,000 dollars with a lot of sacrifice. To reach that amount, the couple made an effort, over 10 years, to save as much money as possible that they obtained from various odd jobs. They had managed to acquire 1.7 Bitcoin with all that money. With beginner’s luck and some successful moves, they managed convert that value into 2.1 Bitcoin.
However, the couple’s dream of becoming millionaires disappeared when he put everything into a type of trade called “futures leverage“, which is when you bet that Bitcoin value will continue to rise. The problem was that it was the wrong time to make that move, since the cryptocurrency was going down due to the incorporation of a new technology called NFTs. For this reason, bitcoin went from touching $50,000 to go down to $47,000 and the entire investment almost disappeared.
Furthermore, the man added that He still hasn’t told his wife. that they lost all the money they saved, and claims to be devastated by the bad decision and the consequences it brought. Despite having suffered so much, he assures that find comfort in other people that the same thing happened to them, and Use your experience as a life lesson.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
