Probably not the kinda post you expect but if you already haven't noticed, the crypto space is quite a very fine place where you can easily lose some money (if not all) same way it is a place you could make a fortune. There have been loads of posts and articles about how to make money via cryptos on the internet well, I guess this should pop up when anyone cares to know how they could lose their money via cryptos and hopefully this post guides them in making which ever decision they feel is important to their financial goals...hopefully, this reaches only those who want to positively improve their financial goals.
This should be easy.!!!
First way lose money through cryptos is by buying cryptos. Quite strange right??! Yeah, you could easily lose money by doing the simplest thing in the crypto space and I'm not talking about the money losing money via transaction fees or anything of sort but by simply buying a crypto because you didn't do your due research before buying which could inturn make you become a victim of rug pulls, hypes and scams. Getting into cryptos without the right knowledge of what you're getting into is one of the surest ways to lose money and it doesn't seem like it's gonna end anytime soon.
Typo Errors and Mistakes:
Secondly, mistakes and type errors could help you lose your money easily with cryptos. Typo errors in form of a missing letter or number and extra letter or number. Practically, you could lose money when you send money to a wrong address or using the wrong memo. The funds sent to a wrong address is irrecoverable except this act is done on some really nice centralised exchanges or if the funds were sent to some preacher who doesn't believe in spending some free money. You're mostly not gonna be having the money back and it's gone for life!!!
Well, if you have a thing for clicking on links pretty fast, well, be ready to lose some money. The crypto space is filled with phishing links and malicious sites waiting for people with fast fingers to click on them. There are loads of hackers and scammers out there and the cryptoverse has loads of them. If you have a thing for clicking on links fast without a second thought and without caution, I'd advice you to seek therapy or develop self caution to avoid stories of hacks and exploits.
I hope this post helps in guiding and not letting you lose money in the future. But if you ever wish to lose some money after reading this, I would love if you could just ask for my wallet and send it there instead. I would appreciate that alot 😉