Got Lost in Crypto World

verwest said:

I lost $7k I still owe the bank a loan. It's been a great experience for me. I know it's not the end of the world, there will be better days.

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Forgive my expression. But it is stupid for someone to take out a loan for high risk management.

I've done my share of losses too. What doesn't kill you or make you broke, makes you more careful. I bought an oil stock, a big one and it went bankrupt. 2k to $63 in matter of days. CEO walked away with 32 million in severance pay. So, it's hard to shake that feeling. Still makes me feel bad. More careful. I have been reading about crypto, and took awhile to understand the concept. Can not find a trading platform I trust.

Diversification is the best strategy and do a fair amount of research on the coins/tokens you are interested in, see future utilities and developments. As has been said crypto is highly volatile and can make or break you overnight. Only realise losses gains when you sell, so if you haven't invested more than you can afford to loose then you can always hold on. I have watched my investments in crypto tanking to over 50% losses, then a few months later I'm 400% up. I know it can be really stressful for people new to investing to see the value drop so much, they panic and sell at a loss in fear of loosing everything.
After a while in the game you become numb to such moves and with solid research on what you are investing in and an eye on the news you can hold with confidence and patience knowing that in future you will see some rips and your portfolio skyrocket.

You should stick with good coins like BTC and ETH.