How to Go Broke Trading Cryptocurrency? 10 Fun and Easy methods! Do you have what it takes?

If you’re looking for an exciting and adrenaline-packed way to lose all your money, then trading cryptocurrency is the perfect choice for you!

Many people are under the impression that trading crypto is a foolproof way to make a fortune. Unfortunately, or fortunately, if you are one for a ton of punishment this isn’t always the case. It’s quite easy to go broke trading cryptocurrency if you’re not careful.

In this blog post, we will discuss some tips on How to Go broke trading Cryptocurrency. So if you’re ready to risk it all AND lose it all, read on and let the bankruptcy proceedings commence!

1) How to Go broke Trading Cryptocurrency – Invest more money than you’re willing to lose

If you want to go broke trading cryptocurrency, then make sure to invest more money than you’re willing to lose. It seems like a no-brainer, but you’d be surprised how many people who are trying to lose money make the mistake of not putting all their eggs in one crypto wallet. Think people!

The crypto markets are notoriously volatile, and even the most experienced traders can end up losing everything if they’re not careful. And like most investments your money is not insured by the FDIC (federal deposit insurance corporation).

Add to this that Crypto exchanges are often prone to hacking and theft. As a result, Many novice and even experienced crypto investors have lost everything by trading on crypto exchanges that have been compromised.

So if you’re going to trade crypto assets, and you’re looking to lose all your money, make sure you’re doing it with a chunk of money that you can’t afford to lose. Otherwise, you may find yourself making money with crypto and staving off the bankruptcy process, meaning you have a bright future ahead of you – where’s the fun in that?

2) Make sure you have no clue how the cryptocurrency market works before investing

How to Go broke trading cryptocurrency.  Focus on the technology not the strategy!
How to Go Broke Trading Cryptocurrency? Focus on the Tech, not the strategy!

If you’ve been itching to spend more time in bankruptcy court by losing money investing and trading cryptocurrency, it’s important to have no clue what cryptocurrency is or what value proposition it brings to its investors and the holders of cryptocurrency.

For example, if you understood that Cryptocurrency is a digital or virtual asset designed to work as a medium of exchange using cryptography to secure transactions and to control the creation of additional units of the currency… You’d be more informed about cryptocurrency and more able to make advanced investing decisions.

Similarly, if you were to learn for example that cryptocurrency utilizes a distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. And that Bitcoin, first released as open-source software in 2009, is the first decentralized cryptocurrency and the first decentralized digital asset.

And that Since the release of bitcoin, over 4,000 altcoins (alternative variants of bitcoin, and unique digital assets) have been created. Well, knowing those fundamentals would give you a leg up and the foundations that you need to invest with eyes wide open.

Again learning facts like that by reading informed blogs, or even taking classes on the topic would certainly help to give you the foundation that you need to make money trading crypto. But you want to lose money! Therefore, avoid learning the above facts and more at all costs!

3) Trade based on emotions – always make decisions when you feel greedy or panicked

One of the big keys to losing money in any trading situation as individual investors is to trade not based on cold, hard, calculated facts, and a solid plan, but instead based on emotion. Especially if the emotions are greed or fear!

So if you Do NOT want to make money trading cryptocurrency, always make your decisions based on emotions. That means when you’re feeling greedy, buy-in. And when you’re feeling panicked, sell! It sounds simple, but it works–To help you lose your life savings.

Is the Crypto market on an incredible tear? Well, it’s time to take your life savings and buy in! Is your favorite exchange offering a deal on certain coins? Shut up and take my money!

Did you buy in when crypto was at its height, and now only a few days, weeks, or months later, the value of your investment has gone through the floor? Well, you better sell before it gets worse!

Remember following a plan without regard to your emotions is the way to make money in trading anything, particularly crypto. So avoid doing that at all costs.

4) Pay attention to all news and events that could ‘affect’ the price of cryptocurrencies

It’s no secret that crypto can be a volatile market. Prices can change rapidly, and news events can have a big impact on the price of crypto assets. Because they are trying to grow their wealth, some crypto investors choose to ignore all news and events that could affect the price of cryptocurrencies and instead focus on executing a plan based on their fundamental or technical analysis.

On the other hand, if you’re looking to lose money trading crypto, make sure you pay attention to every news event and try to predict how it will affect the price of various assets. And when in doubt, always follow your emotions!

After all, crypto is all about price predictions and trying to buy low and sell high. If you get caught up in the news, you might make impulsive decisions that could lead to losses. Which is more exciting than making money.

5) Convince yourself that stop-loss orders will minimize your losses if the market takes a turn for the worse

Anyone who has traded crypto knows that the market can be volatile. Prices can fluctuate rapidly, and it’s often hard to predict which way the market will go next. For this reason, many crypto traders choose to use stop-loss orders.

A stop-loss order is an order to sell a security from a crypto exchange when it reaches a certain price, and it is used to limit losses in case the market takes a turn for the worse. However, stop-loss orders can also be problematic. If the market reverses course before reaching the stop-loss price, the order will not be executed and the trader will miss out on any gains.

For this reason and others, stop-loss orders should be used with caution if your looking to make money. But if your looking to lose money be sure to implement stop-loss orders without careful consideration of when or why to use them, because you think they will help to stem the losses.

6) Have unrealistic expectations – Expect to get rich overnight by trading cryptocurrencies

Have you ever met someone who’s just absolutely convinced that they’re going to get rich overnight by trading cryptocurrencies? Yeah, me too. And you know what? More often than not, those people end up losing a lot of money.

Why? Because they have unrealistic expectations. They think that crypto trading is some kind of magic money machine where you just put in a few dollars and then watch the profits roll in. But it’s not.

As we have discussed, crypto trading is volatile and risky, and in many cases unpredictable, and if you don’t know what you’re doing, you can easily lose all your investments (see points 2 and three). So, if you are trying to lose money investing in cryptocurrency, make sure you have unrealistic expectations about all of that.

7) Trade the latest and greatest cryptocurrencies on an unknown crypto exchange

Investing in cryptocurrency can be a daunting task, especially when there are so many different coins to choose from on your favorite crypto exchange. However, one thing that profitable crypto investors always keep in mind is that the latest and greatest coins are not always the best investment. And that popular crypto exchanges are typically safe places to invest.

Many of the most successful crypto investors trade older, more established coins. The key to making money is to find a coin with a solid track record and a strong community behind it.

These coins are often more stable and have more upside potential than their newer counterparts. Making them not ideal, when you’re trying to lose money. So when you’re considering which crypto to invest in, just go for the shiny new coin and invest your life savings in it.

8) Make sure to go all in

If you’re looking to lose money as a crypto trader, there is no need to diversify your portfolio. You need to find the one coin that is guaranteed to 10,000x and you need to drop your entire life savings into it!

No need to look for other coins that are more stable and that have a steadier growth trajectory to them. Nope, you need the one coin to rule them all!

And, there is no need to invest in other securities like stocks, ETFs, or Index Funds either. Those will just weigh you down with steady growth. If your looking to crash and burn to put all your eggs into a single crypto basket is the way to go.

9) Get all your advice and tips from social media

If you’re looking for investment advice, you might be tempted to turn to social media. After all, there’s no shortage of crypto trading experts on Twitter and Reddit.

Let’s consider the pros and cons. On the plus side, social media is a great way to get up-to-the-minute information on what’s happening in the world of crypto trading. You can also find a wide range of opinions, which can help you make your own investment decisions.

However, it can be difficult to separate the signal from the noise. With so many people sharing their opinions online, it can be hard to know who to trust. secondly, social media is often driven by short-term thinking and emotion rather than long-term strategy. This means that it’s easy to get caught up in the latest crypto craze and make impulsive decisions that lose you money. Perfect!

So, should you get your crypto trading advice from social media? The answer is probably not if you’re looking to make money. But definitely, if you’re looking to lose it. Doing your own research and making informed decisions based on your understanding of the market, is a surefire way to make money trading anything including crypto. And who needs that?

10) Misunderstand what cryptocurrency is

Last but not least, if you want to lose money trading cryptocurrency, make sure you misunderstand what it is.

Cryptocurrency is often described as digital or virtual gold. And while there are some similarities, there are also a lot of differences. For example, unlike gold, cryptocurrency is not a physical asset. It’s also decentralized, which means it’s not subject to government or financial institution control.

Crypto is also much more volatile than gold, which means it can go up and down in value very quickly. This makes it a risky investment, but also one with the potential for high returns.

But gold and other commodities have actual real-world uses, in things like jewelry and electronics. Cryptocurrencies are a little bit more esoteric.

Crypto is also compared with actual money, or fiat money. In fact, that is probably the closest comparison that crypto can be compared to… But, its not exactly like money either. Crypto has use cases beyond fiat money. For example smart contracts. So comparing crypto trading to forex trading is also not accurate.

This is why, if you’ve been looking to declare bankruptcy, you should trade them using the same technical analysis you would use for commodities or fiat currencies. They are similar but just different enough to guarantee losses if you have that misunderstanding. Which is what you are looking for!


So there you have it, ten tips to help you lose money trading cryptocurrency. By following these simple tips, you can be sure to turn your crypto trading dreams into a nightmare.

An important thing to remember is that this article was satire. You should want to make money and expand your wealth trading and owning cryptocurrency. If that is the case just do the opposite of everything you read about here.

In This article I simply listed all the ways that I have seen people loose fortunes trading coins and It struck me, that they couldn’t have lost that much if they tried. But there are other great blogs out there telling you the best ways to learn about and make money trading crypto currency including this very blog.

Take this post as a cautionary tale that it is easy to forget the fundamentals of all investing if you focus on the wrong things, and lose sight of your goals and strategy, particularly when times are rough.

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