Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Dogecoin developer has warned about the risks of investing in crypto

Dogecoin developer has warned about the risks of investing in crypto

Cryptodnes2024/06/18 23:10
By:Cryptodnes

Cryptocurrencies are a very interesting but tough nut to crack, especially for beginners in the field. The exponential growth of meme tokens like Dogecoin is the reason for the mass appeal of many newbies.

The programmer of Dogecoin , Mishaboar, shared that decision-making should be based on rational thinking rather than knee-jerk action, citing the common practice of aimless investing in the crypto space.

Mishaboar, an established figure in the DOGE community, recently reported important news, sending a warning through social networks. After speaking out against the highly unpredictable nature of digital coins, he emphasized the need to exercise impeccable self-policing:

Cryptocurrency prices fluctuate wildly and it's a very volatile market. First carefully assess the risk and cash flows of the market and then assess the best course of action.”, he said.

Expert believes crypto investments are a game of “smart gambling". He expressed enthusiasm and great earning potential, but strong training and knowledge is required.

"It's perfectly normal to take a risk and gamble your money if that's the way you prefer and you're sure the reward is worth the risk/loss.” He emphasized the gambling side of things. This is also proven by the recent statement of Justin Bones, founder of Cyber ​​Capital, who claimed that investing in meme cryptocurrencies is like gambling and therefore should not be considered as an investment. Bones explained that since they are at risk, meme token participants should not be labeled as investors.

READ MORE:
Here's why investors shouldn't expect a major altcoin season, according to an analyst

Mishaboar's primary mission is to provide protection to those novice investors who are unfamiliar with the world of cryptocurrencies. He stated that very often people without knowledge but with significant technical skills come across digital assets that look attractive because they can be bought cheaply. This type of customer accumulates scammers to mislead them. That's why he makes it his mission to introduce these new buyers to the various trading markets.

This adds to the clarity of his campaign, while at the same time pointing out that one of the downsides of the crypto industry is that it is very difficult to establish transparency. He claims that some companies, if truth be told, would never execute their projects due to the numerous risks associated with their tokens. Through this, Mishaboar is certain that greater transparency will benefit society as it will enable them to make better decisions.

It not only requires crypto businesses to be transparent about risks and customer information, but also calls on companies to be responsible developers of these technologies. He urges everyone to think of cyber security as a prerequisite for the development of cryptocurrencies, which requires not only technical progress, but also the inclusion of cyber ethics and an awareness of the basic building principles of protection and security.

SHARE: SHARES
0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like