warning Don't invest all your money with one place !

[Magnom 0]

We know that day by day new members are joining  this community ! 

Most of them just know little about Crypto project so we have to help them and warn them about some mistakes

Today I will talk about :

why investing our all money in one place is danger ?

1- if your account of your wallet or your exchange platform was hacked so you will lose all your money just in a while !

2-You have to put your money with different places ! Like ( Yobit + trust wallet ) because as we know any website could close at anytime 

3- if your Laptop or your mobile phone has been stolen you will not lose all your capital ! Because of this strategy 

 

Now at the end .. do you think that it's really important to invest your money with different places ?

 

[Whited35 15285]

Good, that's why experts in the crypto world suggest us to diversify our investment portfolio and choose different wallets to store multplecoins. In the case of long term holding, I recommend you to choose hardware wallets(if you can afford buy two hardware wallets like Trezor,Ledger Nano, etc)  and in the case of short term trading purpose, you might choose different good non-custodial wallets or custodial/ exchange's wallets(for very short time). 

[kitekite24 4162]

This topic of yours was already came to my mind that what is going to happen if all of my money will be put in one place and that is very dangerous first of all we must need to do is to separate our money don't put in one place and if we are going to invest it don't put the whole money but just a little bit to make sure if it is legit.

[George10 9932]

Well said mate we should indeed not invest our money in one place and they say don't depend on one source of income,thanks for the great reminder.😘

[Honny143 13612]

4 hours ago, Magnom said:

3- if your Laptop or your mobile phone has been stolen you will not lose all your capital ! Because of this strategy 

Sorry to say mate my intense is not to show you're wrong, because you suggests every point really useful for new members, but in my opinion in you are topic suggest store this wallet information, like keys password and other details store in safe place not mobiles because once we loss our devices without this information we can't recover this accounts.

[Moaz 7239]

This is an important advice for all who want to invest their money, as they say you should not put all your eggs in one basket, because any website on the Internet may be compromised and thus you will lose all your money, try to diversify your investments in several sites, this is better in my opinion

[Tunuu 2235]

You are right friend because there are many things that can happen in exchanges that we invest and we can lose all our money. Its a good idea to have 2 - 3 places where you can safely invest your money for low risk of lose them with hackers.

[benalmoh88 1500]

i think that you choose the best wallet like blockchain or coinbase, than choose good exchange like binance or yobit and work in trading or invest your money  there, the earning transfered to your wallet you will be safe.

[P A Ashif 2409]

I agree with first of the two statements. But the third that if I lost the laptop or phone , I think I am not going to affected with it. Because my phone and laptop are highly protected. If its stolen than I will retrieve it on other device. And for the first two cases you must invest in multiple,  trusted platform. 

[Izeal 4404]

Today, I have learned many strategies to be safe like never put all of your crypto in same account and never invest all your money in one place, which I think is very useful and every member should use this strategy to save your money if your one account get hacked.

[TheRaed 1247]

The most important rule in the trading world is not to invest money in one place and it is said by a large businessman who mentions the reasons for his success

[BTC Future 3946]

If you have your crypto in non-custodial wallets and have the private keys and secret phrase securely saved then you won't have any problem accessing your funds from another similar service. The danger comes when using centralized and custodial services.

[bino 3576]

Thank you for this mate. This is a great information. You must do this kind of technique so that you don't lose all your money if every something bad happen to the website or to your mobile phone or laptop. 

[Calvinpriva 17296]

Well said, i have three different wallets for storing my crypto currencies and i posted a topic about this too. This is very important to any crypto user especially beginners, there are many unexpected things can happen to an exchange or wallet where you store you coins and you can lose them all...!! So its good to keep them in different wallets.

[Abiaan 1209]

yes thats the way you can protect your money if your one account gets hacked but also have to consider alot of thing when its comes about money , like not to keep your crypto in exchange for too long because while transferring crypto security check is not entertained, use different device for crypto trade , wallets and different for personal works , never use public wifi internet, never save your keys on your phone better if you write traditionally on your notebook and keep it on safe , soon

[joemcgwa 3227]

This is very important thing thats mostly of people are doing mistakes on believing in one place to invest their all capital, so nthats means if the business fail, they lost everything because of aiming on a single business

[sayems 1513]

you are right my friend. If we invest in two different places, and if there is a loss in one place and some gain in the other, then the financial situation will remain stable.  If we invest in a field then our risk increases. That's why please guys invest your money two defferent places.  

[Mwangi 5611]

Thats the biggest mistake anyone can do , putting up everything in one buscket and so its important we are able to learn how to understand everything perfectly so we need to be diverse and make sure you are making the right choice

[Captain Karim 0]

Dear friend, it is better to trade in digital currencies better than investing because if we have good experience we can multiply our balance several times.
However, investing has more risks, as the currency in which you are invested will lose most of its value. In this case, you will lose your balance.

[caridon 4]

You're right, we always need to split investments and use different strategies. For example, on gekkoin platform, where I have deposit, have 3 strategies with different % of the income

[BrolySSJ 7899]

This is very important for those that make crypt investments, and i think that this is why many of the wallets that you have now are recoverable with a phrase that you generally keep separately from your device. The idea of this is that if you are locked out of your wallet, or if your device is stolen you will still be able to recover the funds on another device. I think that these security measures are essential as i have often wondered what would happen if someone was using my device and saw my bitcoin wallet. However now there are security keys, passwords and even a fingerprint lock that will stop this. The best way is to invest in a hardware wallet though. 

[Moontong 5312]

Or it should be, "don't spend all of your money on any website" you should know how danger investing is, you can lose your money by doing it, thats why it is importsnt to limit your bugdet to invest, you should invest the money that you are willing to lose. Always think that this is risky so you will not get so sad when you get lost.

[Projectcrypto 4382]

Don't put all your eggs in one single basket because crypto is risky. We have strong projects in the Cryptocurrency world and as well we have ones that are not that strong so in order to reduce your risk of losing all your funds i will advise you to make use of different legit sites for your investment, make use of the like of yobit exchanger and binance exchanger to invest on good coins that have potential in the market so that you can earn some money at the end of your investment.

[kryptonick 2659]

This is a case of diversifying the danger, I understand your point and since we are talking about cryptocurrencies there are countles scams happening and nothing is to be considered safe. I don't trust exchanges and many wallet services as they can turn to scam. See Electrum for example and what happened with an early version they had. So many Bitcoin lost because this service was linked to centralized servers that were corrupt.

[Solex 2262]

This is a very useful topic for all Cryptocurrency investors because no one want to lose when ever they invested and in order to avoid losing it is much better you share your money on different coins so that incase when one coin fails the other one will lift you and you won't feel it that much, so be wise and Invest in top 10 coins in cryptocurrency marketplace.