Is Cryptocurrency a Safe Investment?

[0t3p0t]

As many have said, any investment is a risk.

Indeed, crypto is risky. Even, some people assume crypto is high risk because it is not regulated, high volatility, and unpredictable.
That's why some people believe that investing in crypto means a form of speculation. There is no guarantee for profits, crypto future is difficult to predict.

Many newbies jump in without the proper knowledge about blockchain, crypto, storage, etc because of FOMO or thinking they can get rich quickly with crypto.

Yep. Many newbies immediately invest/trade in crypto with no proper knowledge. It makes them to do random ways, they use improper strategies. That's why many newbies fail, they only waste money in crypto. Then, they blame crypto because of the mistakes. Well, FOMO is always bad, many people have lost huge money because of FOMO.

Well yeah correct! That is why most of us who has been here for a while are aware of these risks and already has enough knowledge about things that might happen if we are irresponsible or greedy for what we are doing with crypto. When I was a newbie I think FOMO is my friend that is why I lost some of my investmemts before. Greed is the second one that keep on coming that is why I got rugged many times.

[debra]

If you have an idea about cryptocurrency and you're willing to try out investing on it, then its a good choice because many are being profitable in it, there is a way we can go about investing in crypto and earn massive income from it, this does not justify the absence of risk in it, but having the deep insight of how one can take advantage of the opportunity from investing in any of it.

It is not always profitable, some people also get losses because of making mistakes. If someone wants to invest in crypto, he/she must focus on learning first because trading or investing in crypto isn't easy. Sure, crypto will offer massive profits but it is for the people who understand crypto. To understand crypto well, someone needs to have good knowledge and experience. So, be aware about the knowledge and experience as the most important thing. And don't expect too much, we must also consider the risks!!!

[Woodie]

Should new users invest in crypto currency or not?

Well for starters this isn't financial advice but after doing their own due diligence and research of these markets then the can commit to invest..but personally I would say yes, just dont go all in expecting to be a millionaire overnight.

By the way, investing in crypto isn't any different from investing in other assets such as gold, silver, stocks etc, the  likely difference here is that you will own the assets and have full control that's if you haven't gone the ETF way...and risk it what defines an investment and it's unavoidable tbh.

If you have invested then you are not taking any risk

This is unfair to say...how is this not taking risk

[bitterguy28]

More or less everyone will agree that investing in new currencies so like crypto is not easy. Let's be clear about one thing first, there are no laws for cryptocurrencies, no legal validity,

eh this is not really true anymore for such countries of course there are still more countries that do not recognize bitcoin or cryptocurrencies but as time progresses we see more and more laws being put in place with even some countries fully supporting cryptocurrencies and encouraging their citizens to mine and hold crypto

the market is unreliable and unstable, there is no regulatory body, above all the dynamic nature of this currency is constantly changing.

that is what decentralization entails yes it is financially freeing but you should be ready for the responsibility it will bring since there will be no one to hold your hand for you and maintain and manage your coins

[0t3p0t]

This is unfair to say...how is this not taking risk

Well yeah quite impossible to say no risk while investing. We all know that in real life all kinds of investment is risky. The chance of losing in crypto is quite high compared to the more stable assets like real estate and precious metals but it is also possible to get high rewards real quick in crypto depending on what effective strategy you are using.

[_act_]

Cryptocurrency is a safe investment and there is nothing bad in doing it, all we may have to start with is by learning on how to do
it, all of us here would have started from somewhere to have been where we are in it today, there is safety in crypto once we know how we could manage to engage it, we also have to learn about how we could maintain safety in it, in other for us to avoid being under the risk of scam related attacks.

[Agbe]

Investing in cryptocurrency for beginners is risky because the prices are unstable. Cryptocurrency is not always regulated. Before a beginner invests in crypto, he/she must research and understand the basics of cryptocurrency. They should also be aware of the potential for scams and fraud in the market. And use a reputable platform to ensure your money invested will be safe.

It's not even advisable for a beginner to get involved in crypto whether hodling or trading because the direction of the market isn't stable, as a beginner you should focus more on trying to understand it instead of thinking of making money overnight from it. Most people think that it's a game of luck like gambling but its quite the opposite of that. It requires knowledge and skill set to mitigate losses when it comes to crypto. Understanding the fundamentals of crypto would save you from getting scammed. There are a lot of newbies that lost the funds they got from dogs airdrop cause they don't know how to make use of exchanges.

[0t3p0t]

Investing in cryptocurrency for beginners is risky because the prices are unstable. Cryptocurrency is not always regulated. Before a beginner invests in crypto, he/she must research and understand the basics of cryptocurrency. They should also be aware of the potential for scams and fraud in the market. And use a reputable platform to ensure your money invested will be safe.

It's not even advisable for a beginner to get involved in crypto whether hodling or trading because the direction of the market isn't stable, as a beginner you should focus more on trying to understand it instead of thinking of making money overnight from it. Most people think that it's a game of luck like gambling but its quite the opposite of that. It requires knowledge and skill set to mitigate losses when it comes to crypto. Understanding the fundamentals of crypto would save you from getting scammed. There are a lot of newbies that lost the funds they got from dogs airdrop cause they don't know how to make use of exchanges.

Fundamentals and technical analysis are two important thing a beginner in cryptocurrency should know. There is no shortcut on this and skills should be honed from oneself especially in dealing with the volatility of crypto investment. Losses are inevitable so we must be aware of it before jumping in.

[Asiska02]

Should new users invest in crypto currency or not?  If you have invested then you are not taking any risk, now in the market have attracted a reputation as volatile investments due to high investor losses from scams, hacks, bugs and volatility.  Although the underlying cryptography and blockchain are generally secure, the technical complexity of using and storing crypto assets can pose a significant risk to new users.

That is why it is necessary for new users to learn about privacy and security when it comes to investment in cryptocurrencies. The system can be perfect in the way it was designed to work but when there is an error in the management of it by the users, it becomes prone to risk and can lead to loss of funds. Blockchain are and can be regarded as close to perfection, but they also can pose some risk as they’re designed by humans.

[JoyMarsha]

Should new users invest in crypto currency or not?
--

Yes, but before they start up with crypto investment, they should first of all, learn about the basic knowledge of crypto. Learning about that will help them to know about the volatility of crypto, how to safeguard their coin and keep the seed phrase safe, and all that, etc.

Crypto knowledge is very versatile and interesting to know. It can build and take you to maximum heights if you adhere to its prons and cons by knowing when and how to invest in potential coin like Bitcoin

[0t3p0t]

Should new users invest in crypto currency or not?  If you have invested then you are not taking any risk, now in the market have attracted a reputation as volatile investments due to high investor losses from scams, hacks, bugs and volatility.  Although the underlying cryptography and blockchain are generally secure, the technical complexity of using and storing crypto assets can pose a significant risk to new users.

That is why it is necessary for new users to learn about privacy and security when it comes to investment in cryptocurrencies. The system can be perfect in the way it was designed to work but when there is an error in the management of it by the users, it becomes prone to risk and can lead to loss of funds. Blockchain are and can be regarded as close to perfection, but they also can pose some risk as they’re designed by humans.

True! That is why we need to atleast learn the basics and then to the more complicated ones if we are gonna try to dive deep into how things work. Though it will take time but I know it's worth it. Risk is risk and we can't afford to lose just because we are not ready for it.

[alltalk]

Well yeah correct! That is why most of us who has been here for a while are aware of these risks and already has enough knowledge about things that might happen if we are irresponsible or greedy for what we are doing with crypto. When I was a newbie I think FOMO is my friend that is why I lost some of my investmemts before. Greed is the second one that keep on coming that is why I got rugged many times.

Yep. People who can't survive a long time in crypto, they may follow FOMO and they don't really understand crypto. If they understand crypto, they must have an intention to stay a long time. They also won't invest or trade crypto carelessly, it is because they are aware of the risk level in crypto.

Some of us must experience following FOMO, I also ever did it. However, we must learn from it, we never do it in the future. Well, sometimes experience is an expensive matter but it must be very helpful in the future. When we already know that following FOMO is wrong way, then we never make the same mistake again.

[0t3p0t]

Some of us must experience following FOMO, I also ever did it. However, we must learn from it, we never do it in the future. Well, sometimes experience is an expensive matter but it must be very helpful in the future. When we already know that following FOMO is wrong way, then we never make the same mistake again.

Exactly, I also did the same when I was a newbie in crypto especially during bullrun and the booming of memecoins I was tempted to do it again and yeah as usual I've failed I got rugged and lost my savings because of it. Experience really has taught us a lot and those mistakes are paying off because we've learned from it.

[albon]

Some of us must experience following FOMO, I also ever did it. However, we must learn from it, we never do it in the future. Well, sometimes experience is an expensive matter but it must be very helpful in the future. When we already know that following FOMO is wrong way, then we never make the same mistake again.

Exactly, I also did the same when I was a newbie in crypto especially during bullrun and the booming of memecoins I was tempted to do it again and yeah as usual I've failed I got rugged and lost my savings because of it. Experience really has taught us a lot and those mistakes are paying off because we've learned from it.

Experience is not born from mistakes so the more mistakes we make the more experience we gain. But making a mistake in crypto means losing funds. However new investors always buy meme coin to get rich suddenly. They don't think much about investment because they want to get rich by investing very little money. New investors always follow one person. But if his following is published by the right experienced person then he can get profit. We also have the experience of eating such loss, but my loss was small.