Will you go bankrupt if you lose all your cryptocurrency?

[Heatman]

Let's assume that we wake up tomorrow to find out that cryptocurrency have failed and everyone's investment is gone, how would it affect you financially? Some people's life's investment is on cryptocurrencies and should that happen, they are financially dead. I believe in the cryptocurrency project but it's only about 40% of my investment that's on cryptocurrencies. If cryptocurrency fails tomorrow, I'll still survive with the 60% investment I have on other projects.

 

[Chibson]

If I lose all my cryptocurrency holdings that means 50% of all my money is gone. I'll probably not go bankrupt because I have other savings but that may affect me emotionally.

 

[Grant]

Depends on how much you have invested. I don't invest much at all in cryptocurrency and I don't intend to change that. I don't see cryptocurrency being worth it unless I was mining it, which is a different story.

 

[Sotherefore]

I do not invest all my money in cryptocurrency . I don't see the reason why I will be mostly affected so much. Most of my money are in stable cryptocurrency which the volatility of other cryptocurrency will not affect it.

 

[Potuse]

Cryptocurrency is an investment you can invest on if you have certain amount of money to risk. Investing a huge amount of your income on cryptocurrency is not wise
it is advisable to put the amount of money that you can afford to lose because market is very volatile.

 

[Chibson]

Cryptocurrency is an investment you can invest on if you have certain amount of money to risk. Investing a huge amount of your income on cryptocurrency is not wise
it is advisable to put the amount of money that you can afford to lose because market is very volatile.

Probably, cryptocurrency just like any other kind of investment is very risky and anything can happen to it. Some people even get their wallets hacked. Things like that should be invested on with at most 50% of your money.

 

[Setho]

I have a significant amount of money invested in cryptocurrency but I do not think that that is enough for me to go completely bankrupt whenever I lose them off.

 

[Potuse]

Probably, cryptocurrency just like any other kind of investment is very risky and anything can happen to it. Some people even get their wallets hacked. Things like that should be invested on with at most 50% of your money.

Sadly, so many people do not employ proper risk management before putting their monies in cryptocurrency investment. owing to the fact that, cryptocurrency is a very volatile venture and your money could disappear into the thin air in the blink of an eye.

 

[Chibson]

Sadly, so many people do not employ proper risk management before putting their monies in cryptocurrency investment. owing to the fact that, cryptocurrency is a very volatile venture and your money could disappear into the thin air in the blink of an eye.

Anyone who does that will probably lose a lot of money on the long-run. Cryptocurrency is not something you will just go into and succeed. You need to understand that your money is on the line.

 

[Honny143]

I am not a person who believes totally in crypto. I always keep in mind that crypto is a risky investment, so I always invest my 50% of amount in crypto. If anything wrong happens to me, I will survive with my 50% funds.

 

[Potuse]

Anyone who does that will probably lose a lot of money on the long-run. Cryptocurrency is not something you will just go into and succeed. You need to understand that your money is on the line.

I am a crypto enthusiast and I was able to get a lot of knowledge on how to analyse the cryptocurrency market technically and fundamentally, irrespective of my knowledge around his niche, I have never invested over 15% of my money on it.

 

[Smiles20]

I have actually remove a lot of my money that isn't to keep the currency a long time ago. I am not willing to be involved in all the headaches that usually come along with it.

 

[Potuse]

I have actually remove a lot of my money that isn't to keep the currency a long time ago. I am not willing to be involved in all the headaches that usually come along with it.

It is true to always be careful whenever you are investing in cryptocurrency because it is a very volatile market and you should not put all your funds in it to save yourself from a pathetic story.

 

[Syldan]

Well it's not necessary but to some extent it's possible to go bankruptcy when you lost your cryptocurrency. it's just like losing your investment fund after depositing almost if not all of your money into it.

 

[Robust]

Actually I do not usually go for any bankrupt once I lose all my crypto currencies. I just try to change an alternative to invest in other things than crypto currency.

 

[Potuse]

Actually I do not usually go for any bankrupt once I lose all my crypto currencies. I just try to change an alternative to invest in other things than crypto currency.

The major reason why it wouldn't be so easy to go bankrupt is because you are not investing huge amounts of your account on cryptocurrency.

 

[Laurentta]

I haven't invested in crypto but i doubt one would go bankrupt if ine loses his or her investment in crypto except if one invested all of his or her money into crypto.

 

[Ononivami]

I haven't invested in crypto but i doubt one would go bankrupt if ine loses his or her investment in crypto except if one invested all of his or her money into crypto.

If you apply risk management strategy you cannot go bankrupt if you lose your cryptocurrency.
My point is that you shouldn't invest an amount you cannot afford to lose on cryptocurrency

 

[Bigron]

Let's assume that we wake up tomorrow to find out that cryptocurrency have failed and everyone's investment is gone, how would it affect you financially? Some people's life's investment is on cryptocurrencies and should that happen, they are financially dead. I believe in the cryptocurrency project but it's only about 40% of my investment that's on cryptocurrencies. If cryptocurrency fails tomorrow, I'll still survive with the 60% investment I have on other projects.

The failure of cryptocurrency will have an extreme knock-on effect on individual finances and the global financial landscape in general. The catastrophe that would ensure would be huge, and I for one will lose about 55% of my investments

 

[HayKay]

I've pulled out all my investment from crypto a long time ago. The last was during the LUNA scheme which I lost some money but was able to regain a better part. I've bid goodbye to crypto now though