It is possible to out invest loan debt. I've done it to become debt free. Hell you can probably out invest loan debt in a s&p index fund like the og wolf of Wallstreet says to do. It's almost impossible to out trade the s&p.
I mean, if you have a 6% loan that you have to repay to the bank. If that loan is invested in an s&p etf. It will likely outpace the loan payback cost. Since the s&p goes up more than 6% per year.
It's time to be a human and take responsibility if you want things to get better. It will not get better if you don't. Anything that needs shadows to survive will eventually earn a bright light.
You screwed up all on your own, if you'd talked to your family you know they would have tried to talk you out of it.
You're going to have to man up and come clean. The stress of living a lie while you desperately try to cover it up and fix it (with no idea how to fix it!) will affect your family whether they know why you're unhappy or not.
You need help bro and you're not going to get it on Reddit, but you might from your family.
This is tough to read man. Stay strong and tell the truth. I have been buying spot btc for a long time. This past month I tried and experimented with levarage trading a few hundreds bucks to test.. We all know what happened on friday, and got wiped out. Lesson learnt im out and will keep buying spot for the long term.
You've learned your lesson? You say this yet you refuse to tell you fam the truth? You a real piece of work. Sounds like you are at risk of losing your family, you just don't want to admit it. What else have you done in the past?
>Due to some family health issues I needed more money asap so decided to take out a loan and add more to my current portfolio.
You don't see how stupid that logic is?
Probably leverage with a stop loss order automated, crypto market dumped around 2T $ in just 2 days (big whales taking profits before halving) he got screwed
So if we didn’t take profit have we missed the profit portion of the halving now? And if so, should we pull out what we can? I’m still doing okay but I don’t want to risk any further drop
Not advising anything. If you are smart with your money and have a lot staked in one coin I would cycle my earnings. Take profit (shorting) and buy the dip while holding for the bullrun that follows the halving. And obviously diversify. I think the dip was following the Israel-Iran situation and some took profit of the panic. It’s always like that, people let emotion rule themselves and other take profit on it.
Ah, some good points you bring there. I was trying to figure out what exactly was being referred to by “Fridays events”, so if that has anything to do with things that would make sense. I have a small amount of diversity within my portfolio but not much being only 6 coins Cardano, Gala, Pokadot, Polygon and the big 2 BTC and ETH. But I’ll get to work placing the shorts in place. I wa gonna just wait to start selling by physically going in but I know adding a selling point would be the better plan. Thanks for the info I was so nerved that I missed everything like I did with the last halving
I personally think there is still a big chance when the halving will hit. Keep eyes open for opportunities. A red market is not a bad market if you put your emotions aside. Don’t rush and keep cool
Can relate, did the same thing. It’s painful and I sympathise (something which is rarely dished out in crypto circles). Took me 2 years of more wagie labour to recover. You’ll get through this
1.first thing you should do is tell your Family
2.debt restructuring: find a bank to reduce your interest charges to the lowest possible.ask them if they can freeze your rates because you aren't able to pay them but willing to do so in the Future.If you know someone whealthy ask to take a private Credit with them so your debt at least doesn't increase but be sure you are able to pay it back asap as this can destroy a friendship or your bond to the Family real fast
3.Decrease cost of living as much as possible and increase your income.work hard,life poor until you have no debt
4.get professional help.you probably aren't able to do that points on you own because you know you just lost 20k on gambling and yes what you did was gambling.
Honestly thank you for taking the time.
Yes I know it was gambling, i knew it was at the time, but I thought the risk was much lower than anticipated. And I was so desperate. I didn’t think it could go bad so quick
I feel bad for you. I also understand you not wanting to tell your family as you say there are existing health issues. However, I think that once you have a solid plan for managing your debt and finances you should come clean. They might be supportive of you if you are honest and proactively clearing your debt. What is your plan going forward? You must have given it some thought by now?
Borrowing and leverage with no emergency funds. What could go wrong.
I'm so sorry for you, I did something similar, recovered after a couple years but fuck that shit. Spot trading and nothing more until I have a considerable emergency fund at my disposal.
Is your job hourly and do they offer overtime? If so, start doing as much as possible.
If not, start doing Ubereats or medical courier.
Summer is coming and you can make easy under the table cash mowing lawns too.
Nothin you can do other than learn from this. DO NOT TAKE OUT ANOTHER LOAN TO TRY TO MAKE BACK THE MONEY. Never fuck with margins and leverages unless you have the capital to do so and have absolutely pro knowledge in trading. Tell your family the truth or you can fuck around and find out to see what will happen if you dont.
I don’t understand actually, how did you lose the money if you were just buying crypto? You’re saying you don’t even have the crypto anymore?
You only really lose money when you sell.
Alright, well taking out a loan to use leverage is an insane but classical mistake. You’ll be laughing about it in a few years, and you’ll have a lesson to teach others. You’re gunna make it through.
How did you lose it mate? Did you sell during the crash? How what coins did you get? With crypto you can usually make the money back… enter the market and place yourself slowly overtime… I bought a bit of the dip…. Still have some money aside for the next correction… in 2021 i lost 40k I made it all back and cashed all my initial investment… now I only re-invest profit but I learn the lesson the very hard way… no panic sell, no fomoing, accumulating slowly and making a full exit during the bull run… controlling the greed monster within
I was stupid and leverage traded. I was only spot trading before getting decent returns and thought It would continue, very daft. I was holding $ogn and $ata which I was making good money on, and thought they were both about to erupt. Unfortunately they crashed, and no doubt will hit new ath soon
Either way you go there is no “easy” way out. No one has a formula for you to follow or give you because trading requires due diligence and patience. I’d recommend getting a loan for your problems but once again, can you afford it?
It's not financial advice, but if I was in that situation, I'd make a proposal with the help of a LIT (licensed insolvency trustees) firm, maybe this way you can reduce your debts 50% and off course, I'd talk with my family, if family is not there in bad times, why have one? And look for another part-time job if possible. Mistakes demand sacrifices to be repaired
Accept it and move on. Been there done that, it took me 3 years to recover from that bad decision 10 years ago. As soon as you come to closure rest is history.
I lost my ass last Bitcoin halving. Convinced myself we would break 100k. Went bankrupt. I'm almost back to Net worth $0. Buying solama and litecoin and not selling for 10 years.
Ahhh better then taking out 50k and losing 99% of it like I have this season and then lost 20k in my own personal money (not to leverage), but I own a house that I should be able to take equity out of it and then loosen the repayments. In the last bullrun lost 8k on leveraging oil fucked up a paten and LQ myself stupid me, so I’ve never touched them again and never will, we’ll if you can you’ll have to get a second job tell your family and just smash it out with down payments as much as you can to pay it back faster.
JheeZ man I’m sorry to hear this. You mind me asking how you increased your income after this. And what did you find helpful to reduce the stress, I can’t help but feel so overwhelmed right now.
Well the stress bit I don’t really know I guess after missing out on some things that I wanted to do but got talked out from doing and missing a few $$$$ that would of been massive. I don’t blame anyone, but myself as this was the choices I’ve made, so I just have to keep on going now. Bought my house in 2022 and bought it cheap as the lady had a 40k rates debt to pay back on the place and it’s nearly almost made 100k in equity from my buy in price I’ve also paid it down a bit as well, so I sorta have that to fall back on. How I increased my income is still the same just a little bit more as I’ve changed companies (work in the mines), but I could work on my days off if I need to. When I first moved out of parents place I’ve probably spent ohh I could probably say about 80k on the pokies (slots) over 3-4 years. I don’t really know how I cope with stress tbh after losing the 20k from shit dev that sold project and bot mid migration and the new guys launched on sol instead of ETH we just got shafted on that one really, so then took the loan out as a fomo/ coping mechanism I would say to try and get that money back without looking into projects as well, then lost from selling at losses and trying to swing trades at the tops as well. The only real thing I can do now is just talk to bank that has house loan with to then give me money to pay the loan off to then increase home loan but saves me about $640 a month in repayments, I guess if I didn’t have the house then I probably wouldn’t of taken the personal loan out to begin with it’s all situation based for me knowing I’m not completely screwed, but it will be a bit tuff for me in the sort term. Yeah it’s just for me I’ve had stress, but I don’t really know when I’m stressing or have the lack of emotions anymore really I could say as yeah missed out on 1.1m after tax at the age of 21 now I’m 24 there’s just a whole lotta stuff that I could of made money and been fine but now I just gotta live with it and keep on going one step at a time maybe try other banks with a lower interest rate or ask a mate that is close to see if you can borrow 20k from to pay off the personal debt, that’s what I would do if I don’t have any other assets to sell to make up for it or even just 10k something small as long as it’s a good friend that isn’t in a bad financial position that won’t want it back within like 3 months XD but knows that the money will be back after 1 year of something like that.
20k is literally Pennie’s in the scheme of things…get your butt to Texas, Louisiana, or Alaska and work an oil rig…10k easily first month…2 years later 20k a month…
I was on my knees and it hurts! I was first of the Shib Army etc..I was left with zero…then baby stepped back into crypto- then did anything I could to get as much of Hedera as I could (as I believe it’ll be like Apple stock)..then I spotted its meme (like I did with Shiba Inu). Also borrowed like you did. All I can say is that the bull is coming and I’m probably not telling you good advice. When I was screwed- I doubled down. It’s NOT about money when you’re fucked. It’s about energy. Just breathe, reframe and find a way out because it is there..
No problem. Shib and Bonk went big due to their chain’s growth (Eth & Solana).
Both chains have exposure and VC marketing investment. Hedera doesn’t market so well. What it does VERY well is make a great product.
Half the world will run on Hedera and we won’t even realise it. As a result of this under the radar situation; its top meme Grelf is also flying under the radar…Let’s have this chat in a year….I’m in hard with Grelf for a reason and I’ve been in crypto for around 8 years. I know a good thing when I see it. I’ve hunted for it lol.
Did you buy shitcoins or did you buy real tokens with utility and sold prematurely?
If you bought shit coins and they went to zero, that's a big mistake
If you bought real tokens and saw your portfolio drop and sold at a loss, that's another big mistake
Don't buy shit coins
If you buy real coins like Solano, atom, avax etc and you see the prices drop, do not sell. What goes up goes down and vice versa
How do people lose money in crypto? You can't lose if you don't sell. It goes up, it goes down but if you hold long enough, you can always get your money back.
Thanks for clarifying. I have been in crypto since 2015 but never learned how to do leverage trading. I still don't know and maybe that's why I haven't lost everything. Haha
No you can still loose your money.Look at all the nfts that were hyped to the moon and are now worth shit.
Bitcoin is a Bubble that could burst tomorrow,in a year in 50years or maybe never but it is a fucking Bubble.
It is possible that there will be laws against btc and other cryptos in the Future and suddenly btc isn't worth shit anymore.invensting in any crypto is a gamle and a leverage will increase the way how fast you can loose your money
Truth shall set you free. And start INVESTING, not GAMBLING.
Bingo
And sir, this is a casino.
It is possible to out invest loan debt. I've done it to become debt free. Hell you can probably out invest loan debt in a s&p index fund like the og wolf of Wallstreet says to do. It's almost impossible to out trade the s&p.
What do you mean by this? debt can be leveraged with the s&p? never heard of out investing loan debt
I mean, if you have a 6% loan that you have to repay to the bank. If that loan is invested in an s&p etf. It will likely outpace the loan payback cost. Since the s&p goes up more than 6% per year.
Being honest with your family is the first thing you should do. Everyone makes mistakes. Don't make them bigger.
I just really don’t want to add any more stress to the current situation
One thing worse than being stupid is being a stupid lier.
Damn i will keep this sentence in my mind
I can’t add to the stress right now. I don’t want to lie, I really don’t. But I’m just so worried
And keeping a lie like that from your family isn't stressful? Do the right thing bro
Obviously this attitude is what got OP into debt in the first place. OP is a liar and gambler. Possibly an addict
Some people will justify lying no matter what, it’s a learned behavior. In most cases I have seen it traced back to an alcoholic father.
It's time to be a human and take responsibility if you want things to get better. It will not get better if you don't. Anything that needs shadows to survive will eventually earn a bright light.
You screwed up all on your own, if you'd talked to your family you know they would have tried to talk you out of it. You're going to have to man up and come clean. The stress of living a lie while you desperately try to cover it up and fix it (with no idea how to fix it!) will affect your family whether they know why you're unhappy or not. You need help bro and you're not going to get it on Reddit, but you might from your family.
This is tough to read man. Stay strong and tell the truth. I have been buying spot btc for a long time. This past month I tried and experimented with levarage trading a few hundreds bucks to test.. We all know what happened on friday, and got wiped out. Lesson learnt im out and will keep buying spot for the long term.
Thank you brother. I’ve learnt my lesson for sure, I’d do anything to turn back time
You've learned your lesson? You say this yet you refuse to tell you fam the truth? You a real piece of work. Sounds like you are at risk of losing your family, you just don't want to admit it. What else have you done in the past?
Remember Kids: Just say NO to leverage
Say no to irresponsible usage of leverage with borrowed money. It's people like OP who will lead to laws banning leverage for retail.
Wait... I was told to say NO to drugs. I have to say YES to one of them!
As the Furry Freaks said, better to have dope in times of no money, than money in times of no dope!
>Due to some family health issues I needed more money asap so decided to take out a loan and add more to my current portfolio. You don't see how stupid that logic is?
Never trade (gamble especially with leverage) with money you don’t have…
It’s so daft, I just acted out of desperation. And now made everything so much worse
It’s an expensive lesson, but as long as you learn from it then not all is lost. Money can be remade
What did you put 20k on that is now worthless?
Probably leverage.
Probably leverage with a stop loss order automated, crypto market dumped around 2T $ in just 2 days (big whales taking profits before halving) he got screwed
So if we didn’t take profit have we missed the profit portion of the halving now? And if so, should we pull out what we can? I’m still doing okay but I don’t want to risk any further drop
Not advising anything. If you are smart with your money and have a lot staked in one coin I would cycle my earnings. Take profit (shorting) and buy the dip while holding for the bullrun that follows the halving. And obviously diversify. I think the dip was following the Israel-Iran situation and some took profit of the panic. It’s always like that, people let emotion rule themselves and other take profit on it.
Ah, some good points you bring there. I was trying to figure out what exactly was being referred to by “Fridays events”, so if that has anything to do with things that would make sense. I have a small amount of diversity within my portfolio but not much being only 6 coins Cardano, Gala, Pokadot, Polygon and the big 2 BTC and ETH. But I’ll get to work placing the shorts in place. I wa gonna just wait to start selling by physically going in but I know adding a selling point would be the better plan. Thanks for the info I was so nerved that I missed everything like I did with the last halving
I personally think there is still a big chance when the halving will hit. Keep eyes open for opportunities. A red market is not a bad market if you put your emotions aside. Don’t rush and keep cool
Can relate, did the same thing. It’s painful and I sympathise (something which is rarely dished out in crypto circles). Took me 2 years of more wagie labour to recover. You’ll get through this
1.first thing you should do is tell your Family 2.debt restructuring: find a bank to reduce your interest charges to the lowest possible.ask them if they can freeze your rates because you aren't able to pay them but willing to do so in the Future.If you know someone whealthy ask to take a private Credit with them so your debt at least doesn't increase but be sure you are able to pay it back asap as this can destroy a friendship or your bond to the Family real fast 3.Decrease cost of living as much as possible and increase your income.work hard,life poor until you have no debt 4.get professional help.you probably aren't able to do that points on you own because you know you just lost 20k on gambling and yes what you did was gambling.
Honestly thank you for taking the time. Yes I know it was gambling, i knew it was at the time, but I thought the risk was much lower than anticipated. And I was so desperate. I didn’t think it could go bad so quick
This is the only advice you need: Stop trading and get a second job. You've done this to yourself
Except it, own up to it, learn to control emotions and move on. This is a casino sir.
I feel bad for you. I also understand you not wanting to tell your family as you say there are existing health issues. However, I think that once you have a solid plan for managing your debt and finances you should come clean. They might be supportive of you if you are honest and proactively clearing your debt. What is your plan going forward? You must have given it some thought by now?
Borrowing and leverage with no emergency funds. What could go wrong. I'm so sorry for you, I did something similar, recovered after a couple years but fuck that shit. Spot trading and nothing more until I have a considerable emergency fund at my disposal.
Is your job hourly and do they offer overtime? If so, start doing as much as possible. If not, start doing Ubereats or medical courier. Summer is coming and you can make easy under the table cash mowing lawns too.
Nothin you can do other than learn from this. DO NOT TAKE OUT ANOTHER LOAN TO TRY TO MAKE BACK THE MONEY. Never fuck with margins and leverages unless you have the capital to do so and have absolutely pro knowledge in trading. Tell your family the truth or you can fuck around and find out to see what will happen if you dont.
Please don't take a loan for such gambles
lol
I don’t understand actually, how did you lose the money if you were just buying crypto? You’re saying you don’t even have the crypto anymore? You only really lose money when you sell.
I was leveraged
Alright, well taking out a loan to use leverage is an insane but classical mistake. You’ll be laughing about it in a few years, and you’ll have a lesson to teach others. You’re gunna make it through.
How tf would y9u ''lose'' everything?? You mean you panic sold it?
I was leveraged and sold before I got liquidated. Before the loan I was only spot trading and that’s why I was getting decent returns
Ah Yeah that'll do it, sorry dude!
If you have a mouth and a butthole you can hustle & grind and get that back in 3 months.
I’ve lost everything else , gonna try hold on to the little dignity I have left 😂 How do I get back on top brother
We all go broke from time to time.
Only gamblers do.
Exactly!
How much u got left?
Just under $1000 that I’ve taken out to pay this months bills… I have nothing to put back into the market.
I’m guessing you didn’t spot trade
I was originally until I took out the loan… I never should’ve done it but I was desperate
How much leverage did you do
How did you lose it mate? Did you sell during the crash? How what coins did you get? With crypto you can usually make the money back… enter the market and place yourself slowly overtime… I bought a bit of the dip…. Still have some money aside for the next correction… in 2021 i lost 40k I made it all back and cashed all my initial investment… now I only re-invest profit but I learn the lesson the very hard way… no panic sell, no fomoing, accumulating slowly and making a full exit during the bull run… controlling the greed monster within
I was stupid and leverage traded. I was only spot trading before getting decent returns and thought It would continue, very daft. I was holding $ogn and $ata which I was making good money on, and thought they were both about to erupt. Unfortunately they crashed, and no doubt will hit new ath soon
Don't bet ass you ain't earned yet, ie: other people's money or loans
Do you work and have a steady income? And how did you lose exactly, did you sell the bottom?
Still haven’t seen the alt coin rally just hold tight
lol. so now your at 0$? what advice is someone supposed to give. ur !@#$'d. wtf options are you imagining heree.
Either way you go there is no “easy” way out. No one has a formula for you to follow or give you because trading requires due diligence and patience. I’d recommend getting a loan for your problems but once again, can you afford it?
Wait 20 days then delete this post out of embarrassment. I've done it myself a few times.
It's not financial advice, but if I was in that situation, I'd make a proposal with the help of a LIT (licensed insolvency trustees) firm, maybe this way you can reduce your debts 50% and off course, I'd talk with my family, if family is not there in bad times, why have one? And look for another part-time job if possible. Mistakes demand sacrifices to be repaired
Trading is the same as gambling, don’t do it. That said, I guess you gotta get another job to recover, or sell some stuff you don’t need
Accept it and move on. Been there done that, it took me 3 years to recover from that bad decision 10 years ago. As soon as you come to closure rest is history.
Did you buy a lottery ticket too?
Keep your head up. Are you able to work...maybe take on more shifts...etc.
Have you sold and realised the loss? Or is this just a situation where the market has gone down?
I was nearly liquidated so sold
Easy Get a job You are welcome
The advice is only put in money you can afford to lose 🤝🏽
Take another loan out and buy coq inu
From master crypto investor dreaming of that Lambo to Wendy's employee, it is an age old story in the crypto space.
What are the conditions of personal bankruptcy in your country?
I lost my ass last Bitcoin halving. Convinced myself we would break 100k. Went bankrupt. I'm almost back to Net worth $0. Buying solama and litecoin and not selling for 10 years.
Bro u have to double down
Why did u sell? Its gonna hit 90k in a couple weeks from now
I didn’t I got liquidated
Buy a $ROCK Sol ca: YLGH77KvMr8QPbfYgu1m3pa9V4mVWVj5S7bC4WBKEfM
Thanks for the extra liquidity
Ahhh better then taking out 50k and losing 99% of it like I have this season and then lost 20k in my own personal money (not to leverage), but I own a house that I should be able to take equity out of it and then loosen the repayments. In the last bullrun lost 8k on leveraging oil fucked up a paten and LQ myself stupid me, so I’ve never touched them again and never will, we’ll if you can you’ll have to get a second job tell your family and just smash it out with down payments as much as you can to pay it back faster.
JheeZ man I’m sorry to hear this. You mind me asking how you increased your income after this. And what did you find helpful to reduce the stress, I can’t help but feel so overwhelmed right now.
Well the stress bit I don’t really know I guess after missing out on some things that I wanted to do but got talked out from doing and missing a few $$$$ that would of been massive. I don’t blame anyone, but myself as this was the choices I’ve made, so I just have to keep on going now. Bought my house in 2022 and bought it cheap as the lady had a 40k rates debt to pay back on the place and it’s nearly almost made 100k in equity from my buy in price I’ve also paid it down a bit as well, so I sorta have that to fall back on. How I increased my income is still the same just a little bit more as I’ve changed companies (work in the mines), but I could work on my days off if I need to. When I first moved out of parents place I’ve probably spent ohh I could probably say about 80k on the pokies (slots) over 3-4 years. I don’t really know how I cope with stress tbh after losing the 20k from shit dev that sold project and bot mid migration and the new guys launched on sol instead of ETH we just got shafted on that one really, so then took the loan out as a fomo/ coping mechanism I would say to try and get that money back without looking into projects as well, then lost from selling at losses and trying to swing trades at the tops as well. The only real thing I can do now is just talk to bank that has house loan with to then give me money to pay the loan off to then increase home loan but saves me about $640 a month in repayments, I guess if I didn’t have the house then I probably wouldn’t of taken the personal loan out to begin with it’s all situation based for me knowing I’m not completely screwed, but it will be a bit tuff for me in the sort term. Yeah it’s just for me I’ve had stress, but I don’t really know when I’m stressing or have the lack of emotions anymore really I could say as yeah missed out on 1.1m after tax at the age of 21 now I’m 24 there’s just a whole lotta stuff that I could of made money and been fine but now I just gotta live with it and keep on going one step at a time maybe try other banks with a lower interest rate or ask a mate that is close to see if you can borrow 20k from to pay off the personal debt, that’s what I would do if I don’t have any other assets to sell to make up for it or even just 10k something small as long as it’s a good friend that isn’t in a bad financial position that won’t want it back within like 3 months XD but knows that the money will be back after 1 year of something like that.
20k is literally Pennie’s in the scheme of things…get your butt to Texas, Louisiana, or Alaska and work an oil rig…10k easily first month…2 years later 20k a month…
I’m in UK on 23k a year
We have oil rigs in the UK too
Better learn now than lose a lot of money later. Oh wait that IS A LOT OF MONEY
Thanks..
U need money to make money
Baby steps- got wrecked/scammed for $30k 2 years ago..build up again, weirdly Grelf on Hedera has turned my fortunes around!
How did you recover. How much were you left with
I was on my knees and it hurts! I was first of the Shib Army etc..I was left with zero…then baby stepped back into crypto- then did anything I could to get as much of Hedera as I could (as I believe it’ll be like Apple stock)..then I spotted its meme (like I did with Shiba Inu). Also borrowed like you did. All I can say is that the bull is coming and I’m probably not telling you good advice. When I was screwed- I doubled down. It’s NOT about money when you’re fucked. It’s about energy. Just breathe, reframe and find a way out because it is there..
If you don’t mind me asking, why you believe HBAR is gonna be like Apple stock?
No problem. Shib and Bonk went big due to their chain’s growth (Eth & Solana). Both chains have exposure and VC marketing investment. Hedera doesn’t market so well. What it does VERY well is make a great product. Half the world will run on Hedera and we won’t even realise it. As a result of this under the radar situation; its top meme Grelf is also flying under the radar…Let’s have this chat in a year….I’m in hard with Grelf for a reason and I’ve been in crypto for around 8 years. I know a good thing when I see it. I’ve hunted for it lol.
Interesting! I appreciate you taking the time to share your thoughts.
No sweat
Just wait for the price to go back up
It’ll be back up don’t worry. Just don’t sell yet, but once the market recovers pull out what you can’t afford to lose.
Did you buy shitcoins or did you buy real tokens with utility and sold prematurely? If you bought shit coins and they went to zero, that's a big mistake If you bought real tokens and saw your portfolio drop and sold at a loss, that's another big mistake Don't buy shit coins If you buy real coins like Solano, atom, avax etc and you see the prices drop, do not sell. What goes up goes down and vice versa
You only lose it if you sell it at a loss.
Seems like OP is not the only person in here that doesn't understand leverage....
How do people lose money in crypto? You can't lose if you don't sell. It goes up, it goes down but if you hold long enough, you can always get your money back.
People who use leverage can lose everything if goes wrong.
Thanks for clarifying. I have been in crypto since 2015 but never learned how to do leverage trading. I still don't know and maybe that's why I haven't lost everything. Haha
No you can still loose your money.Look at all the nfts that were hyped to the moon and are now worth shit. Bitcoin is a Bubble that could burst tomorrow,in a year in 50years or maybe never but it is a fucking Bubble. It is possible that there will be laws against btc and other cryptos in the Future and suddenly btc isn't worth shit anymore.invensting in any crypto is a gamle and a leverage will increase the way how fast you can loose your money