Which project/token inflicted your biggest loss?Actually, it wasn't a single token but two that caused me to face that loss. It's one of the biggest losses that I had in crypto investing, fortunately most of the times I win instead of losing. The projects that caused those losses were dull ones but I still invested in those, one of those was BNX new and the other one is SNM token.
What percentage and amount did you lose?I lost more than $1500 with those two coins, I recovered some of the losses but due to their rapid price drop and not recovering for many months I have lost that money. I invested around $2000 in those two coins and both of those gave me losses.
How did this experience impact your investment journey?I took a break after those losses and it really showed me a lesson that useless projects won't get pumped and they are the main cause to lose a lot of money in crypto market. Now, I basically invest in top coins and so far I have seen only profits.
This loss really shocked me. I finally understand that we should not put too much trust in any project or individual in this crypto market. Everything can be just a clever play to defraud investors: an exchange that grows too quickly, an individual who becomes famous in a short time... We must be cautious and never Now forget to set stop loss orders in investing.My condolences to FTX for losing money due to the collapse of the fraudulent alliance created by Sam BF, FTX and Alameda. Unlike UST-LUNA, there weren't many signs that FTX's business model had problems, everything happened so fast and Sam turned from a hero into a villain, similar to Do Kwon!
I want to hear your unhappy stories in this market:
- Which project/token inflicted your biggest loss?
- What percentage and amount did you lose?
- How did this experience impact your investment journey?
Which project/token inflicted your biggest loss?I haven't tried to invest in a project/token yet with real money but if we are talking about time and effort I have a lot of them like soferox, aidus, beyond protocol, swipe crypto, bintex futures and many more they are nonsense projects that is worthless. I participated in all of their bounties and yeah just a waste of time and effort. 😅
What percentage and amount did you lose?It cost a lot of time and effort like a 100% and it is the reason why I missed some opportunities.
How did this experience impact your investment journey?That affected me financially as a bounty hunter some years ago and here I am again. 😅✌️ It put my bounty hunting journey into a halt just because of that experience. But I am not giving up I am willing to take high risk for the high reward. I know time will come luck will be on me and others as well.
Sorry for your loss, you are not the only one who lost a lot of their money in the FTX incident. They deceived many people. It seemed like a very strong exchange with a promising future and gained a great reputation, but unfortunately they were proven deceived.FTX is a crazy case in this market, a media fraud to usurp users' assets. This is a lesson for me and all investors: we need to self-custody crypto and should not trust anyone or any organization, we must learn and handle investment risks ourselves.
Anyway, I also lost a lot last year, when Elon Musk decided to buy Twitter. A shitcoin called “Elon Buys Twitter” EBT was created on the Binance network. Its price was low at first, but it began to grow quickly. I bought a large amount and held it for some time, and the price rose dramatically and I made big profits.
But then the price dropped, and I bought again, and the price continued to fall, and I lost a lot. Of course, I knew full well that the price would fall again, but I thought I could make one last strike before the decline, but unfortunately I was not lucky.
I haven't tried to invest in a project/token yet with real money but if we are talking about time and effort I have a lot of them like soferox, aidus, beyond protocol, swipe crypto, bintex futures and many more they are nonsense projects that is worthless. I participated in all of their bounties and yeah just a waste of time and effort. 😅Bounty campaigns were a good choice in 2017 and 2021 but currently we have too few potential projects to participate in. Good projects decided to conduct an Airdrop through RetroActive with huge rewards to be promoted thanks to hunters like Arbitrum, Manta and Pixels. Bounty campaigns do not even require translation or signature campaigns, the reward is only a few hundred USD at the time of reward payment. Bounty hunters are wasting time and energy to get a few USD.
It cost a lot of time and effort like a 100% and it is the reason why I missed some opportunities.
That affected me financially as a bounty hunter some years ago and here I am again. 😅✌️ It put my bounty hunting journey into a halt just because of that experience. But I am not giving up I am willing to take high risk for the high reward. I know time will come luck will be on me and others as well.
This loss really shocked me. I finally understand that we should not put too much trust in any project or individual in this crypto market. Everything can be just a clever play to defraud investors: an exchange that grows too quickly, an individual who becomes famous in a short time... We must be cautious and never Now forget to set stop loss orders in investing.Ftx case is really difficult to judge, only very strict risk managers will immediately close the FTT token as soon as they see negative news and poor communication handling from Sam and Alameda. The FTT token price also fell as fast as LUNA when it collapsed.
I took a break after those losses and it really showed me a lesson that useless projects won't get pumped and they are the main cause to lose a lot of money in crypto market. Now, I basically invest in top coins and so far I have seen only profits.
You cannot escape losses its part of investing in Cryptocurrency with all the volatility, I suffered huge losses from these Play to earn concept platforms, like Dpet, Axie and AgeofGods I invested in these projects at the time that they were losing their appeal in the market and the prices were crashing its hard to cut your losses on PVE because your investment are stuck on the creatures that you bought, which is why I never buy coins or tokens that I cannot cut my losses.
FTX and LUNA are the two coins I invested a lot of money in and investing in these two investment platforms was probably the worst decision for me in the history of investing. So far I have been scammed the most by investing in these two coins. Investing in all other coins may have lost some money but never lost money completely but investing in this coin lost my money completely. These two coins were very popular in the market and there were many chances that these two coins will go well especially LUNA. LUNA was considered by many to be the second Ethereum at the time and I invested in this coin based on the positive reviews and you all know the result.Yes, I remember very well how it collapsed some time ago, then it became one of the talks that I heard almost every day, yes indeed it was an incident that might not have been thought of before.
If it is related to tokens or tokens that we bought with our own money, in the sense that it is not a gift from some program, then I would say that it is: Lazio and also PSG tokens. If I'm not mistaken, they were the results of the launchpad at Binance. even though I did it with great enthusiasm. But it turns out I was quite late in taking profits and in the end, the token was a complete dump. And what I did was just leave them in my wallet until now. In fact, I haven't had the chance to see how their progress is because I'm not that enthusiastic about doing it. ;D ;DI still remember the Fan token trend in the post-pandemic period and we had many football tournaments. CHZ and Fan tokens have had impressive growth and brought profits to many investors, however I believe that as a rule of the financial market: the majority will suffer losses.
FTX and LUNA are the two coins I invested a lot of money in and investing in these two investment platforms was probably the worst decision for me in the history of investing. So far I have been scammed the most by investing in these two coins. Investing in all other coins may have lost some money but never lost money completely but investing in this coin lost my money completely. These two coins were very popular in the market and there were many chances that these two coins will go well especially LUNA. LUNA was considered by many to be the second Ethereum at the time and I invested in this coin based on the positive reviews and you all know the result.
Have you ever heard about BP token?
https://coinmarketcap.com/currencies/beyond-protocol/
This is the biggest mistake I have ever made. I bought it at $6 because at that time I thought that the price will be increasing, but in fact, it is decreasing.
And now?
It is only $0.0006912 ;D ;D ;D :'(
It's so sad but it has happened, for my experiences.
You are not alone because large number of people have lost money in these project but no one was familiar that it would take place. Because of such loss expert often suggests that don't put huge amount in one or two coins but diversify as more as you can.Terra and FTX are the two biggest scam projects in 2021, also considered the main reason why the crypto market declined so strongly.
The price of LUNA was so higher that everyone was in dream of making huge money through LUNA investment but all remains with empty pocket and empty hands after accepting LUNA as an investment project. I think we should not follow the trend every time but certain top coin can make us profitable instead of trendy coins therefore choose Wisely and don't follow others.
Have you previously read about PSG, SFP and SUN tokens? I could be one of the investors in this project who is certainly still disappointed with the results to date. These three tokens were very popular at that time. And even on Binance, that's a lot of courage. But unfortunately, it won't be as easy as we imagine.
- Which project/token inflicted your biggest loss?
FTX and LUNA are the two coins I invested a lot of money in and investing in these two investment platforms was probably the worst decision for me in the history of investing. So far I have been scammed the most by investing in these two coins. Investing in all other coins may have lost some money but never lost money completely but investing in this coin lost my money completely. These two coins were very popular in the market and there were many chances that these two coins will go well especially LUNA. LUNA was considered by many to be the second Ethereum at the time and I invested in this coin based on the positive reviews and you all know the result.I lost a big investment in FTX. I had so much faith in this project that I never imagined that the project would scam. Because I really liked the FTF exchange. Especially if there were not too many fees at that time to transfer to Ether and transaction fees and the project would have returned to a better position. The collapse of this project had a major impact on the crypto market. I was finally able to withdraw my assets from the exchange that was before restriction. This project is still dreamed of by many, but it remains to be seen how much success it can achieve. But I didn't invest in Luna. The market took a long bearish stance on the collapse of these two projects.
Luna was the biggest scam project I ever saw. Many investors invested in Luna. And all was lost overnight. Luna surprised everyone. It was invested by a friend of mine and I regretted it a lot. I also wanted to invest in it but thought nothing of it which now helps me breathe a sigh of relief. Moreover, projectors like FTX are drowning in people's possessions. They are actually very disappointing. It is normal that an investor invests a lot of money and the invested money is his hard earned money. So when a project scam comes out it becomes a cause of great disappointment.Yes, this event or history cant really be forgotten on which there are tons of investors had burned out their investment in a snap. Surprisingly the current price did make out some increase on which tons of people who have been thought that this is totally dead coin or project but still there are who do tend to invest despite of its disastrous history on which this is something that do give out at least some questions on what the heck is happening? In speaking about my biggest loss then i cant remember totally but mostly not on those known projects but rather
Have you previously read about PSG, SFP and SUN tokens? I could be one of the investors in this project who is certainly still disappointed with the results to date. These three tokens were very popular at that time. And even on Binance, that's a lot of courage. But unfortunately, it won't be as easy as we imagine.I know SafePal wallet's SFP token, this project is quite good but the SFP token price has decreased by 95% in the downtrend. I think this is normal because many other tokens also dropped sharply, the market is cyclical and crypto winter will cause the price of most tokens to fall back to their real value.
Well, PSG, especially, and the other two tokens experienced a lot of decline over time after the two coins were on the market listing. And after reaching their ATH, they just dropped like that. It's like those who hype shit coins. But I really don't believe it.
So for this reason, it is not recommended to buy tokens based on what has been hyped in the past. I also think that there is still a chance elsewhere. As long as it is still a shit token, all three still exist.
I have fatal mistake when investing in top ten altcoin on CMC standing market exactly with Litecoin (LTC), losses more than above $10k when investing in Litecoin after breaking out the new higher price above $300. First easily to earn much profitable with LTC coins as my trading with short term but I loss internet connection one day in the moment bitcoin crashing drastically and Litecoin dropping more than 40% and seems not good ideas to cut loss.LTC is a reputable token in the market, although it did not have good growth in the 2021 season. Sorry for the accident that happened to your internet connection at a critical time, I think it is better to place OCO orders in advance is extremely necessary to protect our accounts at times of strong market fluctuations. We always expect good things, but we should not ignore the risks in the market.
But after waiting several years not worth yet with LTC and price keep going down, I think never be loyal with some coin and always use stop loss feature around 20% when trading in altcoin although as top standings cmc position.
who will never remember that LUNA? who have victimized millions if not billions of dollars and thousands of investors all over the world but lucky that I am not the one that enters this project .FTX and LUNA are the two coins I invested a lot of money in and investing in these two investment platforms was probably the worst decision for me in the history of investing. So far I have been scammed the most by investing in these two coins. Investing in all other coins may have lost some money but never lost money completely but investing in this coin lost my money completely. These two coins were very popular in the market and there were many chances that these two coins will go well especially LUNA. LUNA was considered by many to be the second Ethereum at the time and I invested in this coin based on the positive reviews and you all know the result.Yes, I remember very well how it collapsed some time ago, then it became one of the talks that I heard almost every day, yes indeed it was an incident that might not have been thought of before.
It was not just one or two people who suffered losses from this tragedy, but many people were affected and had to lose all their assets in a short time. What surprised everyone was that this project was one of the most trusted before this tragedy happened.
I am not investor or SFP but I am using safepal wallets and i think they are focusing in development .Have you previously read about PSG, SFP and SUN tokens? I could be one of the investors in this project who is certainly still disappointed with the results to date. These three tokens were very popular at that time. And even on Binance, that's a lot of courage. But unfortunately, it won't be as easy as we imagine.I know SafePal wallet's SFP token, this project is quite good but the SFP token price has decreased by 95% in the downtrend. I think this is normal because many other tokens also dropped sharply, the market is cyclical and crypto winter will cause the price of most tokens to fall back to their real value.
Well, PSG, especially, and the other two tokens experienced a lot of decline over time after the two coins were on the market listing. And after reaching their ATH, they just dropped like that. It's like those who hype shit coins. But I really don't believe it.
So for this reason, it is not recommended to buy tokens based on what has been hyped in the past. I also think that there is still a chance elsewhere. As long as it is still a shit token, all three still exist.(https://www.tradingview.com/x/37qC2LKL/)
I know PSG token fans, but don't know SUN. Normally I only dare to invest 1-5% of my capital in small-cap tokens like this to avoid heavy losses.
who will never remember that LUNA? who have victimized millions if not billions of dollars and thousands of investors all over the world but lucky that I am not the one that enters this project .Luna is the worst incident in the history of stable cryptocurrency which made many traders lose money. This incident shows that Cryptocurrency has a very high risk, there are many possibilities that can happen which ultimately make Cryptocurrency a scam, so you must remain alert when you want to invest in cryptocurrency.
~What happened with FTX and TERRA shows only one thing. Even the top projects can still end up as a scam project. Even those at the top 10 or top 50 can end up scamming us investors.
This loss really shocked me. I finally understand that we should not put too much trust in any project or individual in this crypto market. Everything can be just a clever play to defraud investors: an exchange that grows too quickly, an individual who becomes famous in a short time... We must be cautious and never Now forget to set stop loss orders in investing.
I want to hear your unhappy stories in this market:1. Pancakeswap. I bought it for $32 and sold it for $2. I'm dumb with that one I know. :D
- Which project/token inflicted your biggest loss?
- What percentage and amount did you lose?
- How did this experience impact your investment journey?
1. Pancakeswap. I bought it for $32 and sold it for $2. I'm dumb with that one I know. :D
2. If my calculations are right, I lost around 94% on that investment with Pancakeswap. I swear I will not touch that shitcoin ever again.
3. It's a huge impact for me TBH, and with that mistake, I learned that I don't need to buy any coins when the bull market starts already. I also learned that whenever I want to buy a coin, I need to wait for it to be in a downtrend before I buy. As long as there's no entry point, I will not buy. I also learned how to use some indicators like MACD, RSI, and MA because of that loss. :)
I have never experienced anything like what happened with FTX to lose a large amount of funds on an exchange platform because there was a major issue that led to the shutdown. But that really became a big issue because many people were really affected because their funds were stuck on the FTX platform.We have paid a very high price for this lesson: FTX users lost money, and they will be compensated at the bottom price of crypto, which means they will lose about 70% of their asset value (if they only hold BTC). Meanwhile, the whole market is also heavily affected: total cap decreased by 20% after the collapse of FTX, many altcoins continued to halve or divide by 5 after this event when investor confidence was damaged.
Until now, I can't think of anything else like what happened in FTX besides that, Mt. Gox, and others. Although that incident taught a great lesson to all the crypto communities here in the crypto space,.