In our cryptocurrency world, there are lots of different temptations to invest in different money earning systems as we desire to reap a nice profit online.
We see lots of youtube videoclips that share different opportunities with their referral links. Very often, these are marketing talks that are trying to lure us into signing up so that they can earn through the referral programmes.
I must admit there are some honest people out there that would warn us of the risk and opportunity so that we can make our own decision.
Greed can cause people to cover up the risk and only present the opportunity as the promoters simply want to earn from us.
We should be wise and not fall into any trap that looks so profitable without doing our own research.
Before an investment, we should calculate or estimate whether we have enough for all the bills and expenses so that we only invest using our spare cash.
Few years ago, there were many who invested everything into Bitconnect when I first joined and participated in the crypto world.
With a $100, we were supposed to be able to multiply this in many times and we could get more by referring others into the programme.
The fall of Bitconnect had caused a great impact then and the promoters had legal issues to settle since they were intensively promoting Bitconnect on youtube and other platforms.
Most of our money would have been gathered through our day job so we do not have a rich dad to give us free cash for investment.
When we manage to gain nice profit, we should quickly take back our capital without investing using our capital anymore.
By investing using only our profit, we would be able to make better calculative risk without the fear of losing so much since it is our pure profit.
There are many people who can give such advice and they know it but knowing it and doing it are two different things.
We need to control our greed and avoid traps that cause us to lose money without investigating further.
A simple rule that can guide us in our personal investment.
‘Invest in what we can afford and research before investing. ‘
Disclaimer: This is my personal reflection and I am not in any position to instruct anyone what they should do. I am not responsible for any action taken as a result of this post. My post can only be a reference for your further research and growth.