Losing is part of the deal but that doesn't make it a scam
I have read cases where people come out boldly to talk about the amount of money they have lost trading forex and cryptocurrencies. A lot of people after listening to others sharing their stories of losses on the platform will rush to conclude that those platforms are scams. Well, I do not blame them because ignorance is a disease that knowledge only cures.
Many people equate cryptocurrency to Ponzi schemes or a platform that is created to always take your money. However, those talking ills of this platform have failed to understand that a lot of people are also making money from it. Cryptocurrency is not a scam. I can say this anytime and anywhere. Do not let ignorance disgrace you in the public.
What you don't know is greater than you hence it is proper to seek knowledge than to criticize. Losing has been part of the game. A lot of experienced traders who have been in the industry can attest to this simple truth that losing money in the cryptocurrency industry is inevitable. And making money too is a sure deal.
No matter how careful you might want to be with your money, so long as you have put it on a wheel to make more money, there is every tendency to lose it. I have been in the forex and cryptocurrency space for some years and I know that losing money in them doesn't mean they're scams.
The major problem I have with many people is that they do not tell newbies coming to the system the truth. The truth is that losing is part of the game, which is why it is advisable to trade with the amount of money you can afford to lose. There was a time I stayed for over 6 months without trading the forex market. Not because I was broke but because I didn't have any spare money. All the money I had was for other projects. This is the best way to deal with this industry.
Diversification of portfolios is another way of dealing with the cryptocurrency industry. I do not pity a person who has one source of cash flow. Having multiple streams will make you float when faced with great losses. And having this understanding that losing is part of it will make you not do crazy things.
Many people have invested in physical businesses and lost money. That doesn't mean that those businesses were scams. Probably because more knowledge was not put into it to produce gains. The same thing happens when people lose money on cryptocurrency and forex. Before it happens there is a knowledge gap, and the results become disastrous. Great men have lost money in stocks, and other investment platforms yet they never come out to say that those businesses were scams most of the time they were just unfortunate.
The truth is that many people who lost money on cryptocurrency and the forex industry blame the industry and not themselves. They never saw themselves as being poor in decision-making and financially illiterate. They rather blame the industry for their misfortunes.
Posted Using INLEO
"@newbreed,I agree that ignorance causes losses, not the platforms. Do you think the crypto community are doing enough to educate newbies? How can platforms balance onboarding with proper risk disclosure?"
The system has ways through which people are organically onboarded. E.g. people are onboarded via mining Airdrops and other.
Meanwhile, thanks for stopping by.