There are an increasing number of cases where university students fail when investing in virtual currency (Bitcoin), so this article will explain this. Virtual currency investment is available to anyone over the age of 18, so it is not an investment product for office workers. University students are now able to invest in virtual currencies and open accounts. However, many college students fail.
Why College Students Fail With Cryptocurrencies
Since college students still have little life experience, they are more likely to fail than investing as a working adult. What specific failure cases are there? Bitcoin investment involves the following risks: If you need it, save up more money and then buy it. You also need to study and know about coins. When prices rise and you make a profit, you also have to pay higher taxes. Loss can make life difficult for some people, so it is better not to look only at convenient information such as X (twitter).
invest with scholarship
The university has a scholarship system. However, this scholarship is just a loan and must be paid back someday. No matter how low the interest rate is, it would be reckless to invest scholarship money in virtual currency, but there are students who invest this money, and a certain number of them are suffering. Scholarships must be repaid regardless of whether you lose money on the investment or not. Some people start out with 100,000 yen, but then they think it’s okay to spend a little more, and then they get worried when they spend more than 1 million yen.
too much leverage
Nowadays, investing is a 50/50 split between risk and return. Therefore, although investing may only have the image of making money, there are many cases where you lose money. As a first-time investment for university students, it is a pattern where they apply too much leverage through leveraged trading and end up losing the entire amount in no time. If you lose the entire amount, you will not be able to trade unless you re-input the principal. There are many scammers who say that you can definitely make money on YouTube, but there are risks with anything, including stock investment.
huge investment
In some cases, they even borrow money from their parents. The pattern of investing a huge amount in the market even though you are a beginner will result in 100% big losses. This is the same regardless of category, whether it’s stocks or FX. The market is structured so that only professionals can make money. Either way, in the end, beginners end up being the worst offenders, losing large sums of money as the market takes their advantage. One trade results in a crash and you lose all your money, leaving you in trouble. There are many lies on the internet that you can make big profits just by leaving things alone.
cryptocurrency scam
There are also a lot of cryptocurrency investment scams. It is common for people to be approached by a member of the opposite sex on a smartphone matching app and have their money stolen, or to be invited to a suspicious ICO project, invest, and then lose contact with the person. In fact, the younger the person, the more likely they are to be victims of cryptocurrency investment scams, and the number of cases is on the rise. If you are thinking of starting to invest, the first thing to do is to do it with a small amount of money and a surplus. You will need to take measures depending on the situation. If you don’t know how to buy and sell financial products, it’s best not to do it. Even if it’s a popular stock, the results will be very disastrous.
Unplanned investment
Unplanned investment is also dangerous. Bitcoin has a future, but it may not have one. There is no point in getting into debt to become a millionaire. Life is hell and there are also dangerous endings. Avoid the end of your life. Some services will not allow you to invest in currencies in Japan in the future. Check your settings and services to make profits on the web. If you do not hold on to the rising market in a fluctuating market, you will lose. This is the same for FX and stocks, and if you do not understand it, problems will occur. Consider the impact on your business and get the hang of your goals and management.
Points to note when college students invest in cryptocurrencies
When investing in virtual currency (crypto assets), university students should pay attention to the following points. If you’re a university student, you don’t have much money to begin with, so don’t push yourself too hard. Blogs may advertise that you can make a lot of money, but you can also lose money. Instead of using the amount of money you have, choose popular and famous stocks and aim to earn income from a small investment.
small investment
If you are a university student, you should start by investing a small amount. If you are a university student, you don’t have much money to begin with, so try to invest only a small amount of money from your part-time job. If you invest a small amount, it won’t hurt that much even if you lose the entire amount. The important thing is how you do it, and if the timing is right and things go well, your funds will increase on their own in the long run. Please refrain from making large investments all of a sudden. It’s almost a gamble.
don’t borrow money
In the case of college students, there is no money in the first place, so there are many cases where they use their parents’ money without permission or use scholarships, but that is reckless. Instead of using borrowed money, try to spend your own money. And don’t borrow money easily.
practice for a few years
To begin with, investing is not that easy. It is not an easy game that beginners can suddenly win, so you should expect that you will not be able to make a profit for several years. The important thing is to acquire experience and skills so that you can gradually win. Even if you look at your friends, it’s normal for them to always be negative and lose money every month. It is something that you will improve while facing problems.
Open an account
To actually start investing, you must first open an account. MEXC allows you to open an account for free, so you can easily open an account. The article below explains how to open an account, so please refer to it. MEXC is a famous exchange compared to Coincheck and others. Of course there will be fees involved, but if things go well, the value will increase and you will be able to earn a solid living expenses from now on. Once you are able to operate and earn money, file a tax return.
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