Pumptober has been a beautiful sight to see. Coins pumping left right and centre thanks to Big Daddy Bitcoin making a new ATH!It’s very easy to feel the fear of missing out (FOMO) when you see astronomical gains across the charts. It’s risky to chase a pump but sometimes we do it just for the thrill of it - and that’s okay…as long as the money we are investing is something we can actually afford to lose!When I say “lose” I mean literally turning your $100 into $0.Crypto is a ridiculously volatile market and although it’s not uncommon to see 10x or even bigger gains, it’s even more common to see people lose all or a large chunk of their money. Cough Suid Game CoughI see it a lot in the daily, people taking loans out or over-investing their savings into a project — this is a huge risk because nobody knows what’s around the corner.I honestly couldn’t care less what coin you want to invest in, or even whether you’re going to do research first or not - but if you’re going to be investing, make sure your bills are paid; there’s food in the fridge; and that even after you’ve deposited in, that there’s still fiat aside for random emergencies.Anything can happen. Be prepared!
Submitted November 02, 2021 at 04:52PM
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