10 LIES ABOUT CRYPTOCURRENCY
So many lies about Crypotcurrency online and majority are falling for it simply because people are too lazy to spend a bit of time to do some learning and research.
It’s time to debunk some of the lies who is ready to learn?
LIE 1: CRYPTO IS QUICK MONEY
Please never treat crypto as get rich quick scheme or else you may lose your money.
Treat crypto as money and as asset.
💰Money as a means of exchange
🏦Assets as a store of value that will appreciate over time.
Don’t be carried away by bag holders or hypemen that keep shouting buy without any Fundamental Analysis (F.A) to back their claims.
LIE 2: ADOPTION MEANS EXPLOSION
This is also a lie though not in all cases but listen adoption is not the only factor that determines the price of a coin except it’s a pump and dump game. If adoption is all it takes for a coin to explode then the coin may not survive when whales dump it.
I know of a particular that dumped from $51,000 in January to less than $100 in July the whales pumped it and dumped it on the masses that were fooled into buying it.
But if a coin is a good project adoption is a plus for it because it helps the project scale faster.
LIE 3: THERE ARE CRYPTO EXPERTS
Please don’t let any self acclaimed expert fool you into anything, nobody knows it all in this crypto space and we’ve not explore 10% of this powerful, disruptive and innovative crypto technology and products.
Take home: Keep learning and make sure you vet every information you see online about coins, project or any team.
If you keep believing every news and rumors (FOMO & FUD) Its your money, your loss & your gain.
LIE 4: CRYPTO IS REFERRAL PROGRAM
Lol anytime I see this half-life ponzi schemes parading their lies as Crypto I just laugh. Cryptocurrency is digital currency so if anyone is telling you, you have to refer before coin will have value pleass drop their coin, it’s a scam.
I’m not against projects using referral/affiliate marketing to create awareness for their coin but that’s not all it will take for the coin to fly.
Many still have hundreds of thousands stuck in such schemes because they are just lies.
LIE 5: NEW PROJECTS WILL KILL BITCOIN
OneCoin, Dr Ruja told the Wembley audience, was the “Bitcoin Killer”. “In two years, nobody will speak about Bitcoin any more!” she shouted.
Today OneCoin was history while Bitcoin remains the top coin.
Don’t buy FOMO new projects with hot innovations are emerging daily but when you hear things like we kill Bitcoin, Bitcoin will become history when we launch our coin please drink water and watch such project.
LIE 6: OUR COIN WILL SURVIVE WITHOUT BITCOIN
Like it or not, the whole crypto market is tied to the success or failure of BTC. Bash BTC, watch the price go down, watch the whole market go down, including shit coins.
Bitcoin Success is the reason why we have over 10,000 altcoins today if Bitcoin failed we may not have Crypto as we have it today.
LIE 7: CRYPTO IS SHORT TERM INVESTMENT
Those that treat crypto as short term investment always lose money during bear market.
Since I’ve been studying Bitcoin it has crashed to $10 some years ago, it crashed to $1000 a few years later, it crashed to $8,000 a few years later, it crashed to $20,000 a few years later, it crashed to $30,000 this year. It will most likely crash to $100,000 several years from now.
Long-term Investors don’t panic when it dip because they know it will pump again.
LIE 8: GOVERNMENT WILL KILL CRYPTO
Lol since the ban of Bitcoin in China, India and our country Nigeria, Bitcoin has gain more users and holders across the world.
Most countries are now checking and exploring opportunities in Blockchain and CRYPTO. Some countries are now investing massively in crypto because they know they can’t survive without it in the future.
LIE 9: CRYPTO IS NOT A GOOD INVESTMENT BECAUSE OF ITS VOLATILITY
I love Bitcoin and crypto and will always invest in it before other asset and Investment class because the volatility make it the best performing asset class ever. Crypto has one very important use case: a store of value that has PROVEN to go up every couple of years, for the last ELEVEN years. Not any other invest can stand Bitcoin not talk of other crazy altcoins that did over 20,000,000% gain under 1 years, of course there have been dips. Crypto periodically dips which is an opportunity for new comers to buy and for existing holders to buy more.
LIE 10: BUY THAT COIN BECAUSE EVERYONE IS BUYING IT
Everyone can be wrong, yes even banks, corporate bodies and Government agencies can be wrong. Everyone that bought ONE COIN some years back made a serious mistake and never know until the woman behind it disappear with over €4billion fund Invested by people only for them to discover that the coin was not on Blockchain.
Before I round this up there is more to learn in crypto and please I’m not talking about buying all BROTHERSHIB or SISTERDOGE token learning how to able to do your own research because if you keep relying on every blind predictor online you may continue to lose your money investing in crypto.
The wealthiest people in the world make relatively simple investments. They typically invest in things that they understand, and it all boils to what your goals and financial capabilities are.
You don’t need to break bank before you can invest in crypto, do you know that ₦5,000/$10 investment in BNB five years turned to ₦27,000,000/$54,000 in 5 years in May 2021.
Do you know SHIB has done over 76,000,000% from its ATL to it’s ATH in less than 1 year, imagine if you invest $10 in SHIB it would have turned to millions of dollars now.
But don’t raise your hope too much to sell your valuables or borrow money because crypto is not get rich quick scheme and please stay away from people that are telling you a coin of trillion, quadrillion or quitillion circulation supply will touch $1 or $10 in few months. Learn and understand how crypto market works.
You can check out some of my premium resources below.
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Listen to me you are not late if you are just hearing about Crypto and Blockchain Technology infact you are one of the early adopters.
I give signal freely just get your USDT ready and be ready to milk the market but in building real wealth you may need advance and premium knowledge but don’t worry yourself start with the Free ones just take your time to read all the post in my telegram group and make sure you watch all the videos and don’t forget to download my free book titled CRYPTO SENSE
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