You open Yahoo’s home page and there it is “Cryptocurrency.” You go stream your favorite movie and an ad will pop right on your screen. Again, it’s cryptocurrency. You can’t help but wonder what all this fuss about cryptocurrency is about. So you jot the question real quick as a search query and poof – thirty-six million results come out. Among the first ten links you see on the first page, six of them were success stories.
“How Cryptocurrency Changed My Life & How It Can Change Yours”
“How Cryptocurrency Made Me A Billionaire Overnight – True Story”
“Cryptocurrency Is Taking The Trading World By Storm”
These are some headlines you’d likely come across with if you try to search about it yourself. So what is it with cryptocurrency that got the rest of the world asking the same questions? Well, one thing’s for sure. Cryptocurrency does change lives – for the good, bad, and sometimes worse.
What Is Cryptocurrency?
Cryptocurrency is, in a word, “trading.” You are trading real money virtually and depending on how you do, you can get back what you traded for – ten or maybe a hundred fold. All you need to have is extensive knowledge of the trading market and the ability to analyse highly-complex market data to predict where the market prices will go – up or down. (Click here for a complete introduction).
Aside from choosing which cryptocurrency to mine, the process is rather simple. After all, everything you need to do is choose between two options or trends. If you guess right, you reap double your investments. If you guess wrong, then your investments get sacrificed in the process. But hey, life’s a gamble isn’t it? Even if you invest in regular stock markets, there really is no fool-proof evidence that your investments will come back to you – let alone profit for you.
This is why cryptocurrency is a double-edged sword. Its success or failure lies in two different extremes. So there is no such thing as “small gamble” with cryptocurrency. It’s really a “dive in or don’t dive at all” kind of thing. Think of it as two caves, one is a trove of treasure and the other is eminent death. Choose right and the world is yours; choose wrong and you may possibly lose the world too.
Is this a threat? Am I telling you not to go into cryptocurrency?
Nonsense. Of course that’s not what I’m trying to say here. Cryptocurrency is a huge risk but it’s also too good (and too big) an opportunity to pass up on. And if you let this opportunity go because of fear, then I don’t know what to say about the rest of the BIG decisions you’ll be making in life. If you have the money to spare and you just spend it on needless, self-hazardous activities anyway (I know you know what I mean), cryptocurrency would definitely be a better investment. It’s one with faster and higher returns too.
Going into it blindly is a no-go though. We would never encourage you to do such a thing. If you’re ready to start your journey with cryptocurrency and if you’re planning to take everything super seriously (as you should be), here’s what we can do to help.
Below we have listed some of the things Cryptotraders always seem to forget when it comes to CFD trading. The very same things that make them fail in life too – well, most of the time I believe. Anyway, here are 5 ways you can blow all your money away while crypto trading:
Investing With the Wrong Crypto Trading Company
This is probably the worst way you can squander your investments because there wasn’t an investment in the first place.
Let me tell you this: Cryptocurrency is not scam. But there are scammers who identify themselves with cryptocurrency just as there are with almost any other type of online business or service. There are blogger scammers, marketing scammers, and online shop scammers as much as there are cryptocurrency scammers. Thing is, you have to brand the act (scamming) to be bad – not the industry (cryptocurrency). With the right platform, cryptocurrency can definitely put your investments to good use. You just need to find that RIGHT one.
Mobidea gives us some warning signs to help us know we’re being scammed. Read full article here:
Jumping the Gun despite Being a Complete Noob
Next, crypto trading isn’t like a casino. It’s not a slot machine where you pull on a lever or push a button and pray for luck to come your way. Although I also can’t help but notice that some people treat cryptocurrency trading this way.
There are certainly better ways to approach CFD trading. After all, these “seemingly” random movements of data can be predicted, you just think they can’t because it’s all just moving too fast. Some people have an eye for these changes, they can analyse the raw, changing numbers and make good sense out of them. Enough for them to anticipate which direction a crypto trade can be mined next.
These people aren’t gods. So whatever they can do, you can too. You just need the 3E’s: Exposure, Experience, & Estimation. You have to expose yourself to enough cryptocurrency literature, get yourself first-hand experience, and learn how to estimate the odds. Even though I keep stressing that CFD trading isn’t a game of luck, I wouldn’t go as far as say that luck plays no part at all. After all, all we can do is make our estimates as precise as they can be – there’s no perfecting it. The rest is up to luck.
Undermining What CFD Trading Systems like QProfit Can Do to Help
Another factor that can ultimately lead you to your pitfall is underestimating what CFD trading software like QProfit System and Crypto Trader can do. If you think you outdo robots when it comes to processing thousands of gigabytes of information, then I’m sorry to tell you that you thought wrong.
I am not saying robots are better or more intelligent than humans, I’m saying they are more efficient. Think about it. Robots don’t get tired, stressed, or hungry. They are immune to most things that the human mind is vulnerable to or easily influenced with. This makes their processing and analysing of information much more objective and unbiased. They are able to make connections and come up with predictions without the slightest doubt. That’s because they have nothing to lose – to be more accurate, they don’t know what it’s like to have something to lose.
We, humans on the other hand, can let fear, doubt, and uncertainty cloud our judgement. This sometimes makes us fail to make the right decisions during the most important times. In cryptocurrency trading, such doubts can lead to a huge loss of investment so incorporating the help of a third-party crypto trading robot might offer the perfect solution.
Gambling Every Dime You Have
Another way to send yourself to your own demise is to spend every drop of money you have on cryptocurrency. And I do mean everything. If you think this is completely ridiculous and highly unlikely to happen to you, think again. I’ve seen (well, heard) this happen countless of times.
At first people would invest a small amount of money – the minimum amount even. Then they get a good taste of glory. They win. After a while of experiencing continuous triumphs, they lose – to the point that their investments go into the negatives. In an effort to win all those lost zeroes back, they’ll invest again – only this time, a little bigger. After all, bigger means faster. Or so they thought. Soon, they’ll run dry. Even what was supposed to be their personal spending money will run dry. And, they end up with nothing.
This is a wise example of how you can self-destruct. So don’t try this at home – or anywhere else for that matter. Again, cryptocurrency is good investment when taken with utmost caution. Jump in prepared, come out victorious!