FOR EVERYBODY SUFFERING FOMO & BUYING ALT COINS TO “GET RICH” – Read This

Hello,
As we all know, Crypto is basically everywhere online – IG Stories, Reddit, Tik-Tok, Twitter, etc. People are posting their gains and saying "BUY THIS COIN" and all this other shit.
You hear about all these new coins out – Shiba, Bonfire, Safemoon, etc. It's a new one everyweek and everyday people scramble to put money in these coins.
I've seen countless posts of people putting money they can't afford to lose into ETH and Doge and BTC when it's at the height of the market because "ITS GOING TO THE MOON!!!". Hell I saw one women sell her house to buy Crypto…
I'm all for Crypto – I think it's great and it's here to stick around. HOWEVER. Here are a few things you should know…
A) Buying these Alt-Coins when they're at .00000001 cent is like going to Vegas half the time – it's a true gamble. "Invest" what you can afford to lose. A friend of mine took half of his savings and bought Bonfire a day ago. It dropped like 50%, he sold it, and by the time he transferred it out he was left with like 12% of his original investment
B) The people who make REAL money in these markets had money to play with. This Dogecoin Millionaire with the beard on YouTube made $2m on Doge, but he also invested $130k into Doge. The Winklevoss twins became bitcoin billionaires but had hundreds of millions liquid cash in the bank before. These people are playing with money that has no use to them. If you have $5k and you invest half of that in crypto, that's not smart at all. Up to you, but it's a risk
C) I live in West Hollywood – I know A LOT of very wealthy people. A friend's parents are billionaires. They all have one thing in common – They all hit singles and doubles their whole life and it slowly compounded overtime. They didn't invest the last $1000 they had into a coin and became a millionaire a week later. They stuck to what they understand and knew, stayed consistent, and it paid off. If you want to invest in Crypto, invest in real projects that will stick around – BTC, ETH, ADA, etc. And invest for what it'll be worth in 10 years, not what it'll be worth on Friday so you can go pop bottles in the club with your friends to celebrate your new Doge Riches.
D) Sure, random young people are making $50k, $100k in these markets. It is happening. But most of those people have never seen money like that. And they spend it all on trips and clothes and dumb shit. Trust me, I see kids driving chrome blue Ferraris in Beverly Hills when they start to get money, and then they get repo'd.. So plz, don't feel bad on missing out, because they spend it the second they get it (Usually)
E) If you want to invest $1,000 into something, invest into yourself or start a business. You will actually profit off of that 99.999% of the time.
F) Investing into BTC may not be extremely profitable right now, but if you put $100 in every month for years to come, in 10 years as BTC grows, you're going to have quite a bit of money.. Same with ETH and Cardano.. Quit trying to get rich quick, it usually doesn't work.
If you have $5000 and want to invest $100 or $250, do it! If you want to invest all of it, go ahead and do it too, but you should kiss that money goodbye.
Hope this helps some people!
*This is not a cynical post – I am heavily invested in crypto. But people need to be cautious when putting money they can't afford to lose into trendy projects*
submitted by /u/cincinnatiz
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