The hard truth about cryptocurrencies and what people don't tell you.
By now you've probably heard about cryptocurrencies and how people claim they will change the whole financial system. You have also probably heard about how if you invest, you will double, quadruple or even centuple (100x) your money in days or just a couple of months. That is the real reason why people started becoming so interested in cryptocurrencies.
But remember that there is no such thing as easy money and if it is, there is probably a downside that no one is telling you about.
The only reason why cryptocurrencies are rising is because of supply and demand. If there are more buyers than sellers then the price of this one will rise. However, you must be aware that most of the cryptocurrencies circulating right now do not have any type of value at all and buyers are just speculating on the price.
The only value you OWN when you have a cryptocurrency is the power of being able to SELL it to someone else that is willing to pay a HIGHER price for it or to exchange it for another currency.
Don't get scared though. There are some existing "cryptocurrencies" that have value like steem, bitcoin and ether. I just encourage you to be careful and smart. Dont throw your hard earned money into a cryptocurrency just because you heard someone saying it will rise in price or be the next Bitcoin. Instead, do your own research and procede with caution.
Thanks for reading and I hope you can get your lambo soon!
It is not so easy to get way ahead simply by working hard. Instead working the right thing probably is way better
You are right. My post is meant to help people not lose their hard earned money. Working right is definitely the best way to go.