During my daily twitter scroll in the evening I´ve stumbled upon an article from Joseph Young about a study that reveals that about a fifth of all cryptocurrency investors borrowed money for trading diverse coins. To me that´s shocking news as I personally consider such a move as damn stupid!
Yes there are big profits to be made in the cryptocurrency market these days and yes it might actually even look damn simply to newcomers as you don´t have to do anything else than to buy a cheap coin and wait for it to rise. Well sure I won´t deny that it can work out that way as long as we´re in a massive bull market but you should never forget that it could turn out the opposite way within a few hours only.
That being said you should always remember to only invest what you are willing to loose. Yes you´ve heard correctly as your investment could as well be completely gone in a single day in the cryptosphere! Putting money at such a high risk that you don´t even own and are not able to loose is therefore simply a very stupid idea...
The below Excerpt from Twitter, whether it might be true or not, shows how you could eventually end up investing borrowed money into cryptocurrencies or basically anything else. So please do yourself this favor and never start trading with borrowed money, it´s not worth the risks!
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