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Result of my uncalculated risk due to FOMO

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Avatar for youngdim12
Written by   27
4 months ago

Risk taking already has a significant adverse association with cryptocurrency development, which is why some people will not dare to take the risk, but Is there anything that isn't risky? Even when you sleep, you have a 50/50 chance of waking up on time. As a result, we merely had to decide how much risk is worth taking.

I maintained that smartbch worth the risk, so I thought it was a worthwhile investment; however, some people seek to destroy the credibility of the side chain by creating a scamming scheme or token through it; some have succeeded, while others have failed. We've heard a lot of promises, but just a handful keep their word and deliver, even if they don't live up to our expectations.

SmartBCH is sweet and when you hit it big, it will be even more sweeter. Smartbch opened alot of money making opportunities that one can benefit from, either passively or actively, unless you don't invest in a legitimate project with strong community foundation and a good use case.

Following on from the preceding statement, I invested in few smartbch token that is now worthless in my wallet, because I bought them as a result of FOMO (Fear of missing out). And due to a tight schedule, my investment in Smartbch was silent for months. For weeks, I didn't even check my metamask to atleast have a glance of the market or check my existing investment, though I later did. When I had the opportunity to return to the Market, I instantly chose a token based on their performance coupled with what I had read without conducting any additional research.

This results in a bitter regret that I had to hold to my self, but now I have the courage to spit out. moreover, the did has been done and the spit bean cannot be recovered, then I move on, had it been I wasn't too preoccupied to check the progress I would have recovered some of my money before they all got rugged.

Here is how it happened.

Initially, when I had the opportunity to check the market, I browsed through dex-screener to see if there will be any well-performing tokens, and I discovered a (BMCD) token with a massive uptrend, so I jumped into it immediately without any research, I bought about 50-100$ within an hour liquidity was withdrawn, so I can't do anything with it, I'm just watching the number in my wallet to date..

The second token I bought was Smartdoge; I don't recall the dollar amount, but I can still read the numbers in my wallet. When they launched smart dex, I acquired the token. During this time, the token was mooning, and I forgot about it because I'm a loyal holder lol. The next time I check it, it's worth 10 or 15 dollars, if I remember correctly. I was surprised and frustrated to see this. As a result, I decided to keep waiting to see if the price would rise again, but guess what? Now the token is worth 0 point something dollar, which is absurd.

I got burned after I bought the third token, lol (incinerate fire). Actually, I purchased the token after hearing that there would be an airdrop if you held out until the launching of the emberswap native token. I also swapped 100$ SBCH to fire and left it there; in a nutshell, there was a significant decline; I can't even remember how much I swapped back, but it's a pathetic amount as well.

I also bought pumpparrot and cryptogesic, and I was able to recover my investment before they dropped. I don't have their screenshot including fire because I don't have them in my wallet anymore.

Finally, I'll note that this is the worst loss I've ever incurred in the cryptoverse as a result of my incoherent decision, and I'm sharing it with you now that I've learned my lesson. I thought risk-taking to be a must-do; but, you must learn from my worst experience while taking your own risk; not all risks are worthwhile. However, if you must take a risk, make it a calculated one.

Thanks for reading. If you are the first person to read this article from the begining to this point, Claim this!

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You can also find me on ReadcashNoisecashTorum and on Twitter

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Written by   27
4 months ago
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Comments

SmartBCH is sweet, sweeter and sweetest, but now a days some rug pull projects try to lessen the sweetness of it. I also lost $20 in Snow token project and also did the investment in milk token but it's also behaving like RugPull🤣

$ 0.00
4 months ago

I do not understand much in the field of investment and cryptocurrency, but I prefer the rationally calculated risk so as not to regret later. And sorry for your lost

$ 0.02
4 months ago

Thank you soo much, i considered every challenges as a lesson , and have learnt alot from my mistakes

$ 0.00
4 months ago

Yup, calculated risk noted. It was one of the reasons why I didn't pursue staking or trading because of the risks involved. There is always a risk.

$ 0.02
4 months ago

Exactly! but some risk worth it and one need to be thougthful before taking them

$ 0.00
4 months ago

Thanks for sharing this thoughts bro I hope you make many more profits from other projects than you’ve lost don’t lose hope things will surely get better and better. I’ll always do research in any project I might want to invest on.

$ 0.02
4 months ago

Yes! i do make profit in other project, but this one hit me. there are alot of resources by @Fexonice1 and @Happyboy too that could guild on how to go about making your research.

$ 0.00
4 months ago

It is right to be thoughtful in everything you do so that the result will not be dangerous.

$ 0.02
4 months ago

Exacly, had i know always come with regret lol

$ 0.00
4 months ago

Your welcome my dear friend

$ 0.00
4 months ago

I also take a risk when I bought JOY though the price is pumping, I bought 50 dollar worth more JOY tokens hoping that it will increase but I notice that market is crashing and it also affects the value of JOY that's why I made immediate action to use my token to mint one JOYBOT NFT.

$ 0.02
4 months ago

Atleast joy now has value with the introduction of games. the fact is not all risk worth taking

$ 0.00
4 months ago