losing money in crypto | BTCC Knowledge

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How much money have you lost in cryptocurrency scams?

Just recently, the Federal Trade Commission (FTC) announced that more than 7,000 investors lost over $80 million in cryptocurrency scams from October 2020 to March 2021. With so many people interested in cryptocurrency right now, it's easy for scammers to blend in with the crowd. Some promise to offer insider investing tips.

What happened to cryptocurrencies?

Equities tied to crypto suffered, too. Crypto exchange Coinbase tumbled 20% over two days, while Robinhood, the trading app that counts Bankman-Fried as one of its biggest investors, fell by 30% during the same period. There was already plenty of pain to go around.

Can you take all the risk out of cryptocurrency?

You'll never be able to take all the risk out of cryptocurrency, but by following the tips above, you can reduce your odds of loss somewhat. And if you don't feel comfortable investing in cryptocurrency given all the ways you could lose money, you could try investing in cryptocurrency stocks instead.

Is cryptocurrency a bubble about to burst?

Despite people saying cryptocurrency's a bubble about to burst, Bitcoin ( BTC -0.64%), Ethereum ( ETH 2.30%), Dogecoin ( DOGE -1.67%), and many other altcoins are drawing in new investors all the time. Like any investment, there's a risk of loss when you invest in cryptocurrency.