Investing in cryptocurrencies as an addiction?

[JoyMarsha]

Addiction to investing in cryptocurrency can be likened to wanting to over diversify your portfolio and people who are more prone to this are people who do not understand the risk of over diversification. If you must diversify your portfolio, which is something that some people do not even advise, I believe that over doing it is a danger.

If you over diversify your portfolio because you have the money to do so, over time you would learn the lesson as to why it is dangerous. For this reason, I believe that someone cannot become addicted to investing in cryptocurrencies for too long because somewhere along the line they always get to learn the lesson.

A lesson indeed. I think it was in the past I found myself having a diversified investment in coins that were mentioned to me to invest in, by friends. But at times begin to roll along, I begin to learn my lesson that not all altcoins can be as profitable as I thought. There are altcoins you will buy at a high price, thinking that they will skyrocket more, not knowing that they will decline in price the next day. The moment their price decreases, it will be very hard for them to find their way back to their high-price days back

[Lucius]

Thank you also for discussing this important topic and for the advice, it came at a good time to help me move forward with my decision. Maybe some people are afraid to admit or do not like to say that they have a problem and simply ignore it, but in my opinion admitting the problem is the beginning of the right path to solve the problem.

Most people have become addicted to buying these shit coins in the hope of rising and making huge profits one day, and the truth is that these projects drain the pockets of investors and they continue to lose, it is exactly like gambling where you gamble your money every time in the hope of winning and then you wake up at the end to find yourself bankrupt.

I have not yet met a gambler who admitted that he is addicted to gambling, although I know people who lost their entire salary in a casino in one night and then went to borrow money so they could gamble more. I think there are also people who spend more money than they should on investing in cryptocurrencies because they can't resist anything they see, and various crypto influencers have flooded all social networks and promote everything that someone pays them for.

Maybe this addiction has not yet reached global expression, but my personal observation is that there are a lot of people who constantly lose money and do not learn anything from their mistakes.

[sagarmota10]

I can share my view regarding the addicted to the crypto bcz we have spent lot of time in trading or investing now the next few month can life changing for us. So for that I'm so addicted to the crypto for the freedom from my job, so waiting for apt season and will trade a lot.

[$crypto$]

Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.

While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.

trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.

There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.

While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.

[Yinkcrypt]

For now, just looking to make some money. However, I still pause and think carefully before investing. I set daily targets, and when I meet them, I'm out. Admittedly, one can get addicted to the thrill, adrenaline, and pump.

[pieppiep]

Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.

While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.

trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.

There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.

While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.

Well, To determine this, we have to note that in trading, every decision has to be made as fast as possible because market shifts happen so rapidly that it only takes a few seconds for our assets to lose considerable value. This means we need to be able to respond swiftly in order to prevent them from occurring and causing significant financial damage. Reading the market trends is the most important aspect which can determine success in trading in short time.

Investing on the other hand allows us to have space to be less reactive in market signals. When the existing value of the asset crashes, we can still maintain the asset as long as the coins or stocks that we possess are secure and stable. While it certainly takes longer, especially when the market is in upheaval, like in a bear market, we can feel more comfortable knowing that long-term investments are generally more fruitful if you choose the right asset.

[Crypto Library]

The question and the options are little bit awkward for me because I don't think I have any addiction on cryptocurrency for investment because I do it occasionally when see I can have some opportunity by the investment and I have long-term bitcoin holder and adopter I am holding bitcoin by dollar cost averaging. And now I don't know how you call it addiction or something else!!!!
Yes investment on cryptocurrency can be also like an addiction I have some people like this who thought that trading is a way of being quick rich and they invest on it without having proper knowledges and as a result they are having big loss and even that my suggestion to stop investment they do that and again they are facing the  losses. So in these kinds of case we can call them they are addicted on it by their greed.

[luckyledger]

Investment seems simpler than trading, but that doesn't mean it's easy, it still requires knowledge. Without knowledge we are recommended to invest, because it will be very risky.

While trading the process will be more complicated, because we also have to prepare ourselves as well as possible, especially in the daily trading that we do. We must be truly ready with the knowledge, mentality and risks.

trading is indeed more difficult than investing, because trading requires good analysis and strategy so that we can get profit from our trading. Also the ability to control emotions in trading because the crypto market is very volatile, sometimes the market is not in accordance with our predictions.
While investing also requires knowledge and experience where we have to enter and exit at the right time.

There is also a striking difference in terms of time, where in trading we must be able to make decisions quickly and that is also because every minute or even second we may feel a loss that can take our money.

While in investment, when it goes down we can still hold, as long as it is a coin that is already very trusted then we can wait. It just takes longer, especially when the bear market is currently happening.

It all depends on the details because people do trade differently - some hold only for a moment before selling their bags, some do it for a day, a week, a month - but it's still a short term in the grand scheme of things.
So it all depends on a person and how he would want to achieve his target, while still being responsible.

[libert19]

I did margin trading for some time and I was addicted, addicted in the sense to check position(s) every few minutes, checking coinmarketcal to know which coin to buy next; soon figured this type of trading is not for me as it made me restless.

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

[milewilda]

I did margin trading for some time and I was addicted, addicted in the sense to check position(s) every few minutes, checking coinmarketcal to know which coin to buy next; soon figured this type of trading is not for me as it made me restless.

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

You would really be normally be making out some adjustments on the moment or time that you would be finding on which kind of trading would really be suiting out with your
time and with the best of your capability. It would really be that impossible that you cant be able to determine on which one would fit out into you. It would be normal that you would really be sticking into the ways that you do seem that you could be able to make money or make profits. It would really be that something that you do find out that works for you.
You would be sticking into that one and find out which makes money.

[MUGNIA]

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too

[libert19]

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too

No one knows lowest point of coin, I make purchase if I find price right, if it dips further from there and I have funds I buy again.

Regarding taking profit, I only take profit in months or years, or when I need money, lol. Currently, I plan to take profits from my holdings next year.

[Baofeng]

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too

Of course, we really don't know what will be the lowest point of a coin, hard to predict and we all based on it thru indicators, but it's not that accurate. That's why we said that the best strategy is to do DCA week after week and month after month of hard grinding.

I don't think it's addiction, as we are looking not just for our future, but for our family and kids as well. Think about it, we investment on it for many years because of the huge profit that we can make and with that, it will make our lives easier as we have the financial freedom and we can give a good future for our kids as well.

[Agbe]

From the pool. The two options that people are voting are first one and the last one. And first one indicates that it is something people do occasionally and not regularly and if they see good cryptocurrency to invest. But do we have good cryptocurrency to invest apart from bitcoin? Then the last one said, there is nothing like addiction in cryptocurrency investment. And I also tick on the last one because in my experience in the cryptocurrency investment. I don't think anyone is addicted to invest in cryptocurrency investment and invest any project that he or she comes across.

[legend45]

Now, I buy coins on spot if I feel price is at right point to make purchase, this is done occasionally. Literally, handful of times I purchased coins in last 1 year, hence I go with first option.

This is the part that I find very difficult, where the lowest point of a coin is, as we know the movement of the coin is very fast, between up and down
Maybe the 4th quarter of the year is the peak for making a profit in my opinion, but it does not rule out the possibility of making a profit weekly, monthly too

If you want short term profit you can get it at the end of this year, but I prefer to sell my coins next year, because this year I still intend to buy not sell potential coins because I am waiting for bitcoin to reach ATH $ 100K then I will sell my coins, because it is likely that when bitcoin reaches a price of more than $ 100K, altcoins will also reach ATH.