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Safety is not in numbers, it's in percentages (starter advice)

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by COINS NEWS 271 Views

I've seen this sub shoot up in traffic and membership and I really like it. Crypto has proven to attract young people (and old people, like me) to make their first investments. I hope it will be your ticket to financial independence, as we're all kinda hoping.

Something I've seen happening more often lately, is people sharing their portfolio. We do that in two ways. The first was so strange to me in the beginning:

"Rate my portfolio: 50% BTC, 25% ETH, 20% LINK, 5% ADA"

And what I see more often now:

"I started investing in crypto with $4000 a few months ago, put it all in MATIC. Do I need to diversify now it's worth more?" or "I have $3000 set aside, what should I invest in?" or "I have 500 LTO. Should I buy more LTO or invest in DOGE?".

I advise you to only talk in percentages and never -ever- in numbers. Here's why:

In way one, I could have $20 invested total, but it could also be 20 million. No one can extract it from those percentages.

In way two, I know exactly what value you have in crypto. And if you're lucky, that $4000 of MATIC might be worth a million in a few years (a man can dream). How safe do you feel telling Reddit, and thus the world, the amount of money you have in the bank, now or in the future? Can everyone you're telling it to be trusted? And can you trust yourself never to give away any hints on Reddit about who is behind your user name?

Now I know the mods have done a fine job already advising against this, even posted on top of every daily. The main reason I find it important to explicitly ask your attention for safety is that I still see a lot of numbers instead of percentages. Also a reason, I keep feeling haunted by this news from a few years ago (source is Dutch, translated in short: Man got his kneecaps and stomach drilled in order to obtain his keywords).

Be safe!

submitted by /u/theofiel
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