/biz/ - Business & Finance

Oldfag here.

Advice for newfags who are excited about throwing their money away at cryptocurrency investments.

There is nothing wrong with "investing" a couple thousands or a couple hundreds but keep this in mind, you are not buying value, you are gambling in hopes that someone else will come along to buy your coins at a higher price.

When you are "investing" it means you are buying something and you hope that someone will eventually buy it from you for a bigger price.

With crypto the only reason why someone would buy it from you is if they think the price will go higher than it already is, nobody wants to hold, they want to sell it for higher.

Do not listen to people who are claiming to have tens of thousands of dollars that could be invested in real estate (yes, you can buy a house with down payment + bank loan and sell it even relatively quick, pay the loan, and double or triple your initial investment).

If you have enough money, you do not need to gamble them in cryptocurrency, there are real assets that you are guaranteed to not lose money on such as real estate. If you have 6 figures you can even buy a profitable cheap business that you will not only be able to sell for more your initial investment, but that also generates passive income.

Take this advice as you want. I've seen countless of people in 2015-2016 here who lost everything to crypto. Don't be stupid and make money, or be stupid and lose it all. That's the secret to making money. Don't be as stupid as the stupid people.