get rich with crypto?

pubimaximilBypubimaximil

People I know buy and trade crypto. Unfortunately, I only have a small starting capital.

Would you get involved? How could the risk end?

I am Maxi and 14

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AlbrechtImmo
AlbrechtImmo
2 years ago

I'd leave my fingers off. For the first time, you need to understand how cryptocurrencies work, what market mechanisms they follow and how currencies are regulated. There are good books.

Trading cryptocurrencies is just as risky as normal currency or forex trading, perhaps even more risky. You could suffer a total loss of your capital.

Apart from that, many cryptocurrencies are merely Scam (so fraud) and as an amateur on the market you will not always recognize it directly or not at all.

Please open a depot for your parents and create a savings plan, with eg 50.00 EUR per month on a broadly diversified ETF (eg Vanguard FTSE All-World; WKN A2PKXG) you can earn a very interesting return in the long term with a manageable risk. You won't get enough quickly, but at the end, investing is a marathon and not a sprint.

It's not investment advice, just a tip. Be smart and go with money, just at your age, respectfully. For speculative trading or betting, what it actually is, usually only one wins – the issuer or the broker.

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TapRoot2021
TapRoot2021
2 years ago

So in “Crypto” I would certainly not get in because most of it is Fintech or Scam. If only bitcoin.

And I'd advise you before you start to grow up and really deal with it. Even if you don't invest in a shitcoin, there's a risk of losing access to the coins if you don't watch (I'm going to admit you're missing your maturity) .

And you won't get rich with it. You better lose money if you let shitcoins turn you on.

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Ichschaffsran
Ichschaffsran
2 years ago

No.

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pubimaximil
Author
pubimaximil
2 years ago
Reply to  Ichschaffsran

and why not?

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guterfrager5
guterfrager5
2 years ago
Reply to  pubimaximil

Try to see it differently: why should you get rich with it?

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Ichschaffsran
Ichschaffsran
2 years ago

cryptos are pure ticking

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pubimaximil
Author
pubimaximil
2 years ago

you have to take risk bro but thanks

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guterfrager5
guterfrager5
2 years ago

the at least is already in the past ._.

But I don't want to spoil you the fun… if you like it, you can of course try it (:

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pubimaximil
Author
pubimaximil
2 years ago

because the crypt is becoming more and more expensive

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