What are common risks involved in crypto?

[Report]

The general risk in cryptocurrency that I seem to notice is hacking because the word "hacking" is very common to see in various Telegram channels. Hopefully everyone who trades, invests or is in the cryptocurrency circle can avoid hacking. For example, I have 1 Solana coin in a personal wallet and then it is hacked, of course I will feel disappointed and depressed because my 1 Solana coin asset was stolen by a hacker.

[Themepen]

People who do not know what they are doing and those who have bad opsec usually lose their coins, the first risk is buying BTC or any other crypto without research and knowledge of what you are actually doing, so many people buy coins because others are buying and they think it will make them reach.

Operational security is also very important, and it covers the wallet you use, the enviroment you use it in and how your back up and store your seed phrase, users with great opsec hardly lose any funds.

Yes you are right buying cryptocurrencies like Bitcoin without knowing risks can lead to financial losses. Some of us invest just because others do hoping to make quick money. By the way security is important. Using secure wallet and being careful online and safely storing backup codes reduces risk of losing funds.

Investing wisely requires research. Do not invest just because others are doing. Learn about cryptocurrency risks and take steps to protect your money. So always be careful and don't compromise on security.

[jeraldskie11]

Let's start with how you invest. For lack of knowledge about crypto is one of the common risks. We entered crypto here to earn from our investment. Meaning, if we don't know what we are doing we will lose our money. One of those is if you don't know how to analyze the market fundamentally and technically. Second is the basics of trading cryptocurrency, if you type wrong numbers such as prices you may lose. Those are common risks that should not be ignored for me.

[kai]

Scams and Scammers that I have noticed so far are present in cryptocurrency because when I first learned about cryptocurrency it was through Telegram and there were so many scammers who DM me giving strange links that I thought were Scam links. For example, I click on the website and then go to their website, the result will change to hacking.
Maybe in other businesses, there must be scammers and they do it in various ways, but what I have noticed so far is that in cryptocurrency, scammers always send strange and suspicious website links.

[bhadz]

Number 1 rule of thumb, when you open random emails and it says that you've got some free crypto, avoid them and never open them at all. They're trying to trick you into going to their phishing link and this is the reason why many have been hacked due to neglecting the importance of being careful to what they're doing. It's best to check first the link and you don't have to click it but just put your cursor and see if you're familiar with the link or not or it's just best to not open unfamiliar emails.

[TomPluz]

The general risk in cryptocurrency that I seem to notice is hacking because the word "hacking" is very common to see in various Telegram channels. Hopefully everyone who trades, invests or is in the cryptocurrency circle can avoid hacking. For example, I have 1 Solana coin in a personal wallet and then it is hacked, of course I will feel disappointed and depressed because my 1 Solana coin asset was stolen by a hacker.

Aside from other risks, I think hacking can really be so sad and can even be really personal to all of us...imagine opening up your own wallet and see nothing in there because somebody moved the assets away from you. I know that terrible feeling because years ago I was a victim of phishing and that pain to see your investment of time and effort gone in some seconds can be so hard to explain. That is why in my opinion being in this cryptocurrency industry can be a never-ending learning curve for all of of us so we can protect the assets we build for years. It is unfortunate that there seems to be a growing industry of hacking as the benefits can be so good for them...to the detriment of their victims.

[kai]

The general risk in cryptocurrency that I seem to notice is hacking because the word "hacking" is very common to see in various Telegram channels. Hopefully everyone who trades, invests or is in the cryptocurrency circle can avoid hacking. For example, I have 1 Solana coin in a personal wallet and then it is hacked, of course I will feel disappointed and depressed because my 1 Solana coin asset was stolen by a hacker.

....
I know that terrible feeling because years ago I was a victim of phishing and that pain to see your investment of time and effort gone in some seconds can be so hard to explain.
.....

Oh my god, that is so sad and hopefully it will not happen again for the case you have gone through. But can you give a little explanation of your story of being phished like this? I want to hear and read it so that I can be aware and be on guard someday to avoid hacking, scammers or phishing.

[Crypto Library]

The most common risk we face when investing in crypto is that we are easily affected by FOMO. FOMO means the Fear of missing out If we try to understand this matter more deeply then this FOMO is a fear inside us due to which we take various types of wrong steps. As Bitcoin is currently 58k dollars and many people have already made a lot of profit by investing in Bitcoin, I have backed away from that, so I should make a huge investment in Bitcoin now this is the effect of the FOMO. And what we must avoid is because of FOMO, it is seen that many big investors make wrong investments and sit at loss.

[lepbagong]

The general risk in cryptocurrency that I seem to notice is hacking because the word "hacking" is very common to see in various Telegram channels. Hopefully everyone who trades, invests or is in the cryptocurrency circle can avoid hacking. For example, I have 1 Solana coin in a personal wallet and then it is hacked, of course I will feel disappointed and depressed because my 1 Solana coin asset was stolen by a hacker.

Aside from other risks, I think hacking can really be so sad and can even be really personal to all of us...imagine opening up your own wallet and see nothing in there because somebody moved the assets away from you. I know that terrible feeling because years ago I was a victim of phishing and that pain to see your investment of time and effort gone in some seconds can be so hard to explain. That is why in my opinion being in this cryptocurrency industry can be a never-ending learning curve for all of of us so we can protect the assets we build for years. It is unfortunate that there seems to be a growing industry of hacking as the benefits can be so good for them...to the detriment of their victims.

It is very sad when our wallet is hacked and everything there has moved quickly, and we can only wait because what we have has changed hands because of our own negligence, and I have also experiencedn't when someone wanted to help me take care of the, bounty results., and they cleverly told me to fill out a form with the specified. contents, and surprisingly I felt that this was indeed from their team and followed everything they told me, I didn't know I just realized because the team never sent any form to ask us to fill in and then realized.
Since then, I will not accept any form of assistance because I am traumatized by this.

[Yamzakid]

There are so many others everywhere, feel free to share some to get everyone especially the newbies aware of them and how not to fall for them. Thank you..

Greedy is one of the common risks newbies face in crypto. Most of them will want to put money into a project that requires investment with huge profits without having any idea of the project, and after sometimes they will run with their money. Newbies should be careful because there's nothing like quick income and free money in crypto.

They should not share their seed phrase with anybody because that is the only weapon they have to safeguard their assets. If something happens to it, they may lose all of their funds. They should also avoid malware downloads and not trust any link or website that they have never used before, they should conduct proper research before doing anything in crypto world.

[|MINER|]

Greedy is one of the common risks newbies face in crypto. Most of them will want to put money into a project that requires investment with huge profits without having any idea of the project, and after sometimes they will run with their money. Newbies should be careful because there's nothing like quick income and free money in crypto.

They should not share their seed phrase with anybody because that is the only weapon they have to safeguard their assets. If something happens to it, they may lose all of their funds. They should also avoid malware downloads and not trust any link or website that they have never used before, they should conduct proper research before doing anything in crypto world.

But I personally think that the common risk in investing or trading in crypto currency is being affected by FUD (fear, uncertainty, and doubt). Not only new traders are affected by this matter but also big professional traders are affected in this matter.
As it often happens to me that the value of Bitcoin has risen so much that many have made huge profits, I think I am making a mistake and I want to invest at that time. Even if it happens to me now, I control myself. Because if there is an investment over FUD, that investment is more likely wherever we invest.

[Nheer]

Number 1 rule of thumb, when you open random emails and it says that you've got some free crypto, avoid them and never open them at all. They're trying to trick you into going to their phishing link and this is the reason why many have been hacked due to neglecting the importance of being careful to what they're doing. It's best to check first the link and you don't have to click it but just put your cursor and see if you're familiar with the link or not or it's just best to not open unfamiliar emails.

More to this, seeing some token in your wallet which you didn’t know is where about is also an act of scamming, we should try and take note of that also.  You might check your Wallet balance and see some tokens worthless and unfamiliar and you can’t even find them in crypto Market space they are token which scammers use to get rid of your asset after you implement it to your wallet balance most likely they are most found in wallet. It very rare to find those type of token in exchanges like KuCoin, Bybit, Binance and much more. 
They can be find in Wallet like MetaMask and many more wallet.
In reference I’m bringing this point cause of our newbies which are very careless and naive most especially our bounty hunters you can understand the type of coins I’m talking about. Coins you don’t know or didn’t even worked for will be in your wallet don’t try and import them they are very risky and full of scam. Before importing coins DYOR please our newbies and other traders too please take note of it also everyone.

[Findingnemo]

Overnight dump is one of the common phenomenon in crypto field, if the coin in our holdings is like Bitcoin or ETH we can hope that it will rise again but the situation will be completely different if it's a new project let's say a meme coin that's been on the rise for a while which tempted someone to invest but soon after investing the price can crash and there's no guarantee that it will bump again.

Which is why it's always recommended to only invest the money that we can afford to lose, and also we need to select right coins depends on our requirements.

[Tribalchief]

One common risk i've observed, and i believed it's very common among the newbies is the failure to carry out proper research before making investment. We all know how some suppose crypto influencers promotes shitty projects that ends up becoming a pump and dump scheme, and newbies most times are easily deceived by the green candles, without understanding the moves behind them. So, it's very crucial to make personal research, and also making personal decisions, rather than chasing after what an influencer has to say.

[Z-tight]

So, it's very crucial to make personal research, and also making personal decisions, rather than chasing after what an influencer has to say.

Very true, it is good to do your research yourself, influencers are usually paid to promote certain projects, they really do not know anything about the project, neither do they believe in it, but they just promote it because they are paid. I recommend that newbies do their own research and only buy coins that have utility.