What are common risks involved in crypto?

[UNIVERSE]

When we are talking about the risk of involved in crypto, it may tend to be how we may lose our money.
Many people enter the world of cryptocurrency because they want high profits. Crypto is considered to be one of the things that really provides high profits. However, some people forget that crypto also has very high risks.

Many people lose money in crypto because their mindset is that they want to have a lot of money later. Moreover, they don't have sufficient knowledge and then give up investing in bad projects. This would actually be very dangerous and pose a high risk to anyone. and I think losing money is a very bad thing for some people or maybe most people.

[Z-tight]

Many people lose money in crypto because their mindset is that they want to have a lot of money later. Moreover, they don't have sufficient knowledge and then give up investing in bad projects.

It happens a lot, it is going to be very difficult to educate people that BTC is not a get rich quick scheme, once they hear about BTC, to them it is an opportunity to make money, but that is not so. It is easy to invest your money into a scam or useless project when you are desperate to get rich quick, before buying crypto you must know what the risks are, and do your research about the coin yoy want to buy.

[Litzki1990]

The most common risk in the crypto market is that the market is uncertain and anything can happen at any time in the market and you have to risk money in this uncertain market. I think this is one of the most common risks in the crypto market. No trader or any investor can say for certain which direction the market will go but those who have enough knowledge about the business and those who understand the market well can make some predictions and with some guidance can imagine which direction the market will go. But it is a very common thing that skilled new old investors of all types or traders of all types must take money risk.

[Altcoin1998$]

Risk in cryptocurrencies refers to losses after investing or trading. There are many other risks beyond these two which I am not in a position to tell in detail but will give some hints. Many times we invest without understanding anything before making a decision to invest, so if we don't feel the need to do any research about the project, there is definitely more chance of loss than profit from this investment. Moreover, we often invest in Shit coins while investing in haste, there is a big risk in this too.

[taufik123]

-snip-
Moreover, we often invest in Shit coins while investing in haste, there is a big risk in this too.

Losses will not look at anyone, even if the person is a professional trader and investor.
I myself quite often enter shitcoin only at a few moments of hype and get quite a lot of profits and fast.

But in the end it also gave me a big loss.
The shitcoin project I bought was too fast for scam and Rugpull,
This became a lesson for me personally to be more vigilant though against any project, not just on shitcoin.

See how LUNA, UST who has Dev is thief and irresponsible.
Though LUNA is the top coin, so must be wary of everything.

[BitMaxz]

-snip-
Moreover, we often invest in Shit coins while investing in haste, there is a big risk in this too.

Losses will not look at anyone, even if the person is a professional trader and investor.
I myself quite often enter shitcoin only at a few moments of hype and get quite a lot of profits and fast.

But in the end it also gave me a big loss.
The shitcoin project I bought was too fast for scam and Rugpull,
This became a lesson for me personally to be more vigilant though against any project, not just on shitcoin.

See how LUNA, UST who has Dev is thief and irresponsible.
Though LUNA is the top coin, so must be wary of everything.

There is no problem investing in Shitcoin just make sure that you did good research before you invest and you're right professional traders are investing in shitcoin because they know the higher the risk the higher reward they can get.

I'm not the same as traders who buy them in my case before I earn them by promoting them or by doing captchas I hold them for the long term and after block halving I got a big profit holding those shitcoins even it is risky to hold them since I got it free by promoting or by doing captcha I'm not afraid to lose them because I just earn without investing them. That's only difference but without the risk we can't make a good profit.

[Aanuoluwatofunmi]

Maybe I should try a little more higher in listing some observable common risk we often take without knowing while trying to get involved in any cryptocurrency related activities in the economy, some of them were as follows.

1. Risk
2. Too know
3. Impatient
4. Absent of information
5. Careless attitude
6. Indecision

These and many more are the constitutes of how we got involved in the cryptocurrency risk on ourselves, we can see that the ones we mostly contributed are more than the ones we often encounter in crypto.

[JoyMarsha]

Here's the story of my experience with Auschain Mining

In mid-November 2021, I was contacted on Telegram by a user name Evelyn Galya who has messaged me many times on Telegram trying to get into her false Bitcoin mining platform.

After several unsuccessful attempts, she said she will open up an account for me and make a deposit on my behalf in order to prove to me that this platform really pays. It was indeed paying on small amounts and I was investing every 5 days all the profit.

On 1.02.2022, this platform has claimed that they had maintenance work on their site and that my account encountered a down glitch. Due to this fact, I need to make another 50% deposit of my current account balance, in order to be able to withdraw the funds I had before the maintenance. This is a true scam!

I'd like to point out that all this time, Evelyn almost every day was messaging me trying to convince me to move to the next investment plan, saying that I will make a lot of money and will never regret investing with this company.

Besides that, she was pushing me to present this investment platform to my friends and family members because this platform has a Referral program and I will make even more money (What a BS!).

My husband invested $250 worth of Bitcoin, referred one of his friends, and I also opened up an account for my mother. Only me and my husband should receive a withdrawal of more than $1K each.

Should I mention that the technical support is awful? They are using Google Translate when speaking to you! Like robots answering your questions, when you are asking one thing, they are responding totally another thing.

I hope my story could help people stay away from this scammer!

The story you shared about your encounters with scammers is mostly about the way they operate. They would like to bring you a special offer that will get hooked up with them, like paying the amount they are requesting so that you can be able to withdraw your balance with them.

A friend of mine experienced the same thing as yours a few months ago and she felt like killing herself because of it. They scammed all of her money just because she wanted to withdraw the money stocked on the scammer's site because of their lies about "maintenance".

Why people fall victim to this kind of scam mostly because of greed, to get more. If someone would remove greed from their mind, they would hardly fall victim to scams because they wouldn't be moved by their fake offers

[Z-tight]

Why people fall victim to this kind of scam mostly because of greed, to get more. If someone would remove greed from their mind, they would hardly fall victim to scams because they wouldn't be moved by their fake offers

Greed is one very strong reason why people fall for scam, but there are others, like when one has bad opsec, that person could expose their seed phrase without even knowing it, or when a person has no knowledge about the network and the industry, they could store a large amount of coins in an exchange or in an online wallet.

It is recommended that people know what they are doing before buying crypto, if you only think about getting very rich after buying it, you will lose the coin before you even start dreaming.

[debra]

There is no problem investing in Shitcoin just make sure that you did good research before you invest and you're right professional traders are investing in shitcoin because they know the higher the risk the higher reward they can get.

If we have good knowledge about the shitcoins, it is okay to invest in them. It is only a problem if we have lack of knowledge about them. It will be very risky because the prices are very volatile, the prices easily changed drastically. For average investors/traders, it is better to choose reputable coins only. The top 20 coins are quite safe for the investment for average people.

[taufik123]

-snip-
I'm not the same as traders who buy them in my case before I earn them by promoting them or by doing captchas I hold them for the long term and after block halving I got a big profit holding those shitcoins even it is risky to hold them since I got it free by promoting or by doing captcha I'm not afraid to lose them because I just earn without investing them. That's only difference but without the risk we can't make a good profit.

Do you want to say about DOGE that you got easily before the price went crazy.
In the past, DOGE was only considered a shitcoin or memecoin that did not have any utility,
so it only looked like a worthless and very cheap junk coin.

But after Elon Musk became a fan, DOGE became The Father of memecoin or Shitcoin.
Long-term holding will give tremendous profits.
I also made thousands of dollars profit overnight when Elon Always posts about DOGE on Twitter.

[Tribalchief]

I would say that there are basically two common risks to consider and ways to mitigate them: Avoid borrowing money to buy crypto, and refrain from staking high amounts if you tend to be too emotional. Our response to situations in the crypto space influences how long we can hold.

[bayu7adi]

There is no problem investing in Shitcoin just make sure that you did good research before you invest and you're right professional traders are investing in shitcoin because they know the higher the risk the higher reward they can get.

It's never a problem if the amount you invest doesn't affect your finances when you lose it. High risks often appeal to some people, so it's understandable if some see it as not dangerous (because they understand it) and others see it as risky because the stakes aren't small.

For those hoping for gains from "shitcoins," it's wise to stick to effective investment strategies. Shitcoin movements can be highly volatile.

[BitMaxz]

Do you want to say about DOGE that you got easily before the price went crazy.
In the past, DOGE was only considered a shitcoin or memecoin that did not have any utility,
so it only looked like a worthless and very cheap junk coin.

But after Elon Musk became a fan, DOGE became The Father of memecoin or Shitcoin.
Long-term holding will give tremendous profits.
I also made thousands of dollars profit overnight when Elon Always posts about DOGE on Twitter.

Actually, these are the only coins that you can earn from faucets before Doge, LTC, and Bitcoin when I entered into crypto someone paid me in Dogecoin by doing captcha typing it is safe than investing I hold them and make a profit even without the help of influencer like Elon Musk Doge coin increase every altcoin season or every end of the Bitcoin BlockHalving months or a 1 year you should be able to see the price increase of this memecoin.
Yes, it is a shitcoin but dev cores have become serious about developing this coin until now.

Look at the market almost all exchanges doge coin is listed do you think this coin is still a shitcoin? For me, no there is no shitcoin that survives long the same as dogecoin.

[Gurujebs]

I would say that there are basically two common risks to consider and ways to mitigate them: Avoid borrowing money to buy crypto, and refrain from staking high amounts if you tend to be too emotional. Our response to situations in the crypto space influences how long we can hold.

I think there are more to the ones you have mentioned. If you must buy a coin, let it be the coin that you understand, you don't buy a coin because other people feel like buying it, you will enter danger zone that you may find difficult to get out from. You should also avoid keeping coins on exchange, this is another risk that is less discussed because the centralized exchanges has brains braijsn wash their head, they don't realize untill it has fell off.

If you want to last long in crypto, avoid coins that are been influenced by the influence, most often the coins are always and even when there is bad side of the coin, they  influencers don't talk about it. We have many of them that were later dragged last year for telling them to buy coins that are not worth it and they are all dead now because they have sold their bags.