This is my first post in the LeoFinance community, so at first, hello to all ;)
My Take on Economics
I've always been fascinated by economic topics, the whole world of economics and macroeconomics really. Lately, though, I've kind of fallen off the wagon, but I'm itching to dive back in. But that's not really why I'm writing today.
Beware the Crypto "Gurus"
What's got me typing away is the sheer number of ads and the flood of so-called crypto gurus on every social media platform you can think of—Telegram, YouTube, TikTok, you name it. They're everywhere, trying to hook people in. And it's not just any people; it's folks who really have no clue what they're diving into, blindly following someone who claims to be "something" or appears to be "something." I'm hoping this post reaches as many people as possible to stop feeding into this shady and dishonest business.
The Reality Check
Think about it for a second. If life was treating you great, if you were always winning in the market, if you had money to burn, would you be wasting your time making YouTube videos? Charging peanuts like $10-$50 to supposedly share future signals to make you as rich as they claim to be? Please, take a moment to think. Anyone truly making a living off the market, and there are many, isn't going to spend their time messaging you every 10 minutes on Telegram for $20 a month. Nor are they going to pump out two or three YouTube videos daily to show off how great they are and how much money they're making... They'd be out there living their fabulous life. BUT, it's all a lie. They're living off your money—the money you and hundreds of others pay them, through affiliate links on different exchanges that make you invest and lose money. They don't care if you win or lose; as affiliates, they get a hefty cut every time you open and close a trade, regardless of the outcome.
A Word of Caution
I know some people will argue with me, feeling like they're the gurus. Futures trading with leverage isn't for everyone. If you value your capital, your money, stay away from futures markets. Never use more than 2-3x leverage. And while I wouldn't advise you to dive in, if you do, base it on your own analysis, not what someone tells you to do. Don't believe anyone; don't let them take advantage of you. Protect your savings.
Invest Wisely
By all means, invest. Go for stocks, cryptocurrencies, shitcoins, memecoins... whatever floats your boat. Buy, sell, but do it without leverage, without stress, without losing money... If you invest $1000 in Hive because you believe in the network, the community supporting it, its ecosystem—go for it. Your Hive holdings might halve in market value, or they might quintuple in 1, 2, or 5 years. But you won't have lost money until you decide to sell. And you should never sell at a loss if you invested because you believed, because you didn't need that money right away, and because you understand that financial investments aren't overnight successes. Chasing after shitcoins or 50x leveraged futures feeds those YouTubers and smoke sellers who are flooding the internet today. And when the markets turn green, they pop up everywhere like worms after rain...
Final Thoughts
Be very careful, trust no one, learn, educate yourself, and be aware of what you're doing. This comes from someone who's lost a lot of money in the past by getting swayed by these scammers and smoke sellers.
Good luck.