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Facing the fear of “what people will say” about your cryptocurrency investments

Facing the fear of “what people will say” about your cryptocurrency investments

Fear of social rejection is a powerful factor that can inhibit people from expressing their opinions and sharing their experiences, especially when it comes to financial topics such as cryptocurrency investments.

In the case of social media, this fear is further intensified due to the public nature of these platforms. Every “like,” comment or interaction leaves a digital trail that can be visible to a wide network of friends and followers.

For many cryptocurrency enthusiasts, this creates a psychological barrier that prevents them from openly sharing their interest in this area. They fear being judged, criticized or even ridiculed by those close to them, which can lead them to silence themselves and hide their involvement in the world of cryptocurrencies.

The consequences of silence

This silence has a negative impact on the crypto community at large. By not sharing their experiences and knowledge, reluctant investors limit the growth and adoption of cryptocurrencies. In addition, companies operating in this sector are deprived of support and recognition from their own customers, which hinders their development and expansion.

What to do if you find yourself in this situation?

If you feel identified with this fear of “what will they say” in relation to your cryptocurrency investments, it is important for you to know that you are not alone. Many other enthusiasts have gone through the same situation and have found a way to overcome it. Here are some tips that can help you:

  • Inform yourself and make your own decisions:

    It is essential that you do your own research and analysis before investing in any asset, including cryptocurrencies. Don’t be swayed by the opinions or recommendations of others without first carefully evaluating the information and considering the risks involved.

    • Trust your own judgment:

    No one has the right to think or decide for you. Your money, your time and your decisions are yours and only you should be responsible for them. Don’t let fear of rejection stop you from making the decisions you believe are right for your financial future.

    • Exercise your freedom of expression:

    Social networks are a space to share ideas, experiences and opinions. Do not censor yourself for fear of criticism. Share your interest in cryptocurrencies in a responsible and respectful way, always based on verified information and avoiding promoting imprudent investments.

    • Surround yourself with like-minded people:

    Look for online communities or local groups where you can connect with other cryptocurrency enthusiasts. In these spaces you will find support, information and the opportunity to share your experiences without fear of being judged.

    • Be an example to others:

    By sharing your experience openly and honestly, you can inspire others to overcome their fears and explore the world of cryptocurrencies responsibly. Remember that your voice and your experience are valuable to the community.

    Freedom of speech and thought is fundamental.
    Do not allow fear to silence you.
    Inform yourself, make your own decisions and trust your judgment.
    Surround yourself with like-minded people and set an example for others.

    Share your experience responsibly and respectfully.

    By overcoming the fear of “what people will say” and openly sharing your interest in cryptocurrencies, you contribute to the growth and adoption of this sector, as well as inspire others to take control of their financial future.

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Bitcoin turns 15, will the price skyrocket with ETFs?

    Bitcoin turns 15, will the price skyrocket with ETFs?

    The SEC will have “no choice” but to approve the Bitcoin ETF and the decision will be known in a few days. What will this mean for the price of the asset?

    A highly volatile asset, it has seen sharp rises and dizzying falls. Now, investors are awaiting the approval of an ETF to invest in this type of asset. Bitcoin is 15 years old, what can we expect now from this asset and will the price skyrocket with ETFs? We take a closer look at the outlook with Herminio Fernández, CEO of EurocoinPay.

    In a few days, we could have a decision from the SEC on the approval of an exchange-traded fund, an ETF, of Bitcoin.

    A countdown that is bringing all kinds of speculation. Some even point out that the SEC is backed into a corner to give the green light.

    The expert believes that, in effect, the SEC will have no choice but to approve this fund, because all the specifications requested by the regulator have been submitted.

    A “yes” to these ETFs would mark a before and after for the cryptocurrency. But “I think it already has a very important upward momentum, for all that Bitcoin represents”.

    Physical Bitcoin

    Now, if this approval is given, all investment funds and platforms that want to offer these ETFs will have to go to the market to buy physical Bitcoin. They must be backed not by listed securities, but by real Bitcoin.

    If there are 20-30% of Bitcoin in circulation now, because most of them are in wallets, it means that those that are available to buy are scarce.

    There may be significant buying pressure, which will push prices up. “It would turn Bitcoin into a very bullish market”.

    Source: Capital Radio

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Millennials and Generation Z tend to build a more cryptocurrency-friendly society

    Millennials and Generation Z tend to build a more cryptocurrency-friendly society

    If you are Spanish, this is the classification of generations according to your year of birth:

    Baby boom (1949-1968)

    Unlike the post-war children, the baby boomers are the largest generation. There are currently more than 12 million baby boomers in Spain. They were the first to live in peace and prosperity after the post-war period.

    Generation X (1969-1980)

    These are the children of the baby boomers, those born in the 1970s. In Spain they also lagged behind the rest of the Western world due to Franco’s regime and began with the progressive political opening up of the country. They lived through the splendour of consumerism and the obsession for success at all costs. Also known as the EGB generation, they were the first to become familiar with computers as a work tool.

    Millennials (1981-1993)

    Probably the best known and most criticised generation. Millennials are those born between 1981 and 1993 (or 1996, depending on the organisation consulted). In Spain they represent a population of just over 7 million men and women.

    Generation Z (1994-2010)

    This is the generation that has taken over from the millennials. They are at most 23 years old and outnumber their predecessors. In Spain there are 7,800,000 boys and girls who belong to this post-millennial generation.

    Do you know which generation you belong to?

    A study reveals that Millennials and Generation Z tend to build a more cryptocurrency-friendly society.

    Bitget published an extensive study on the relationship between demographic changes and cryptocurrency adoption rates across generations. The brokerage examined more than 255,000 questionnaires, with participants from 26 countries and divided into four age groups.

    The analysis found that the Millennial generation represents the largest group of cryptocurrency enthusiasts, accounting for 46% of respondents, and concluded that the representation of different groups by public regulatory bodies may define the possibility of social changes favourable to cryptocurrencies.

    The survey was conducted between July 2022 and January 2023, involving more than 459,000 respondents, with more than 255,000 contributing responses. As part of the study, information on the fertility and adoption rate of cryptocurrencies in selected countries was correlated with other factors, such as the propensity of residents of selected countries to use blockchain technology and data on the demographics of people who own cryptocurrencies.

    Respondents were categorised into generational and age groups: Baby Boomers, Generation X, Millennials, and Generation Z. Among them, Baby Boomers accounted for 19% of respondents, with 8% owning cryptocurrencies.

    Generation X made up 23% of respondents, with 25% of them owning cryptocurrencies. Generation Y made up 31% of respondents and 46% of them owned a cryptocurrency, and Generation Z made up 17% of respondents and 21% of them owned a cryptocurrency. The statistics point to an uneven use of digital assets across different age groups, especially in countries with a long-life expectancy and a highly educated population, such as Japan.

    The data collected also indicates that Millennials are more loyal to cryptocurrencies, as they are more familiar with the internet and digital technologies, compared to previous generations.

    This age group is also starting to build their investment portfolios and sees cryptocurrencies as a good opportunity due to their high return potential, as shown from 2017. It was also observed that Generation Z respondents are fans of modern technologies, being inclined to use digital assets and DLTs, as they do not have any negative experience with financial crises, as they were born after 2008.

    Other data collected on behaviour regarding the regulation of digital assets indicates that each passing generation is more interested in their rulers having an equal interest in the regulation of blockchain assets, with a considerable increase in the percentage from 6% to 27% between Generation X and Generation Y, respectively.

    This jump can be attributed to the change in value mapping observed in these two generations, especially in relation to changes in technologies, work-life balance issues, diversity and inclusion factors, and a decrease in trust in institutions.

    The influence of Baby Boomers and Generation X is likely to diminish, as by 2030 all members of Generation Z will be adults, and the diffusion of blockchain technology in this period could lead to an increase in the percentage of people using cryptocurrencies across all generations.

    The popularity and acceptance of cryptocurrencies varies across different age groups. Through this research, we can better understand the needs and preferences of cryptocurrency users,” he said Gracy Chen, CEO of Bitget.

    Analysis of the overall data obtained during the research allows the Bitget team to conclude that population growth in the countries studied is, in general, slowing down.

    Combined with increasing life expectancy, there could be a situation of total rejection of cryptocurrencies, blocking innovation and modern technology. However, the declining share of Baby Boomers and Generation X in the total population may be accompanied by processes of unlocking and rehabilitating solutions that benefit society and replacing conservatism with progressivism.

    The research findings also suggest that, early in the next decade, demographic processes could lead to a dramatic shift towards greater acceptance of cryptocurrencies, despite the slowdown in population growth.

    Source: Periodistadigital / Dailymotion / Cointelegraph

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Volkswagen innovates by being the first automotive brand in Mexico to use the “Metaverse” to support its sales process.

    Volkswagen innovates by being the first automotive brand in Mexico to use the “Metaverse” to support its sales process.

    • Volkswagen Mexico relied on the metaverse as a tool in its sales process and to offer new experiences to consumers.
    • At the beginning of the year, Volkswagen launched an integrated metaverse campaign to promote the safety and intelligence features of its latest Polo model: the IQ.DRIVE.
    • “Volkswagen reaffirms its commitment to offer new experiences to all its customers and continues its journey in the digital world to consolidate its position as the most innovative automaker in Mexico,” the announcement states.

    In the Volkswagen metaverse, customers were introduced to the world of the brand in a fully digital atmosphere. They were also able to access the company’s platforms, such as its YouTube channel and Virtual Studio.

    The automotive company, Volkswagen Mexico, relied on the metaverse as a tool in its sales process and to offer new experiences to consumers. With this, the firm seeks to position itself as a leader in the Mexican industry.

    According to Volkswagen, the “Metaverse” is an initiative that responds to the constant evolution of the brand, and began with an activation in Puebla. The dynamic allowed participants to interact in a different way and have their first contact with the vehicles in the digital world, to later acquire them in the real world.

    “Volkswagen reaffirms its commitment to offer new experiences to all its customers and continues its path in the digital world to consolidate itself as the most innovative automotive firm in Mexico, being the first to use the “Metaverse” as a tool in its sales process; it is a new way to have the “first contact” with a car”.

    In this way, the automobile manufacturer is constantly evolving, while at the same time advancing the development of its own metaverse. At the Volkswagen activation, users were served by fully digital advisors, who showed them all the features of the different models and scheduled appointments that will complete the experience at the dealerships.

    “The Volkswagen brand is constantly evolving and has created its “Metaverse” to provide a fully immersive experience for its customers”.

    Volkswagen’s commitment to the Metaverse in 2022

    The automotive industry is not exempt from global technology trends, and the metaverse has proven to be one of them. Volkswagen is an example of how the latest developments in virtual reality can be adapted and integrated into business management processes in an increasingly demanding and dynamic business environment.

    Earlier this year, Volkswagen launched an integrated metaverse campaign to promote the safety and intelligence features of its latest Polo model: the IQ.DRIVE. Simultaneously, it launched an interactive NFT treasure hunt, ‘Game On’, which allowed participants to win a PlayStation 5 (PS5) and advanced driving lessons from the Volkswagen Advanced Driving Academy.

    The event also coincided with the launch of the Polo GTI, in the Gran Turismo 7 racing game. At the time Bridget Harpur, marketing director of Volkswagen Passenger Vehicles, highlighted the initiative.

    “We are really proud of our playful and immersive campaign, as it made an exceptional impact on the consumer while transporting Volkswagen and its audience to a new universe. It is also an excellent example of how participation and enjoyment overlap”.

    To see this innovative interaction of the brand with customers we leave you the following video:

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Source: BeInCrypto

    Spanish Ministry of Economic Affairs and Digital Transformation grants aid to metaverse projects

    Spanish Ministry of Economic Affairs and Digital Transformation grants aid to metaverse projects

    Spain has been characterised as one of the fastest growing countries in the adoption of blockchain technology, investments in the crypto ecosystem and web 3.0.

    According to official data from Triple A, it is estimated that around 1.1 million people invest in crypto in the country. Likewise, thanks to recent interventions by different government departments, the crypto community has been strengthened in Spain.

    Recently, the Ministry of Economic Affairs and Digital Transformation, through the Secretary of State for Telecommunications and Digital Infrastructure, granted financial aid worth €3.8 million to more than 22 metaverse projects.

    The financial support from the government aims to boost the development of technologies such as virtual reality and extended reality in the field of audiovisual production and the video game sector.

    The ministry reported that out of the 94 applications received, 22 have been selected. The projects behind these applications are related to emerging technologies, associated with the ‘Web 3’ and the metaverse, and are used for the production of audiovisual content, video games and animation products.

    Some of the projects that have benefited from financial support are:

    The Game Kitchen, which received more than 389,000 euros, Open Canarias (332,000 euros), Gamelearn (324,000 euros), Uttopion (311,000 euros), BCN Visuals Studio (292,000 euros), Team Training Consulting (230,000 euros), Linking Realities (188,000 euros), One Millionbot (175,000 euros), BIM6D Consulting & Performance (160,000 euros), Visual Technology (143,000 euros), Orange Software (132. 000), Bmat Licensing (130,000 euros), Home Design Labs (126,000 euros), Lastur Bookin (122,000 euros), Bravent (120,000 euros), Ingeniería Logística Tectónica (109,000 euros), Inside Goya (99,000 euros), Invelon Technologies and Yerba Buena VR Europe (95,000 euros each), Nautilus Experiencias Digitales (77,500 euros), Vsion Studio Interactive and Nabegos España (72,000 euros each).

    The selected projects are aimed at experimental development and process innovation for immersive content in various fields such as culture, training, technology, industry and patient welfare, among others.

    Audiovisual Hub for Spain

    The aim of the government aid is to set in motion a plan to create a new Audiovisual Hub for Spain by 2026. The companies that have received aid from the country are distributed in different areas of the country such as Madrid, Aragon, Andalusia, Castilla-La Mancha, the Basque Country and Valencia, among others.

    One of the positive aspects of the initiative is that the companies that participated in the project were required to have at least ¼ of their workforce made up of women. In other words, this initiative is encouraging the participation of women in the web 3.0 industry.

    In this way, Spain seeks to position itself as one of the fastest growing countries in the European crypto, Web3 and metaverse ecosystem.

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    Source: Beincrypto

    Bitcoin’s big sell-offs mean one man’s sorrow is another man’s pleasure: time to buy the fall?

    Bitcoin’s big sell-offs mean one man’s sorrow is another man’s pleasure: time to buy the fall?

    Professional traders were forced to cut their losses after the margin and futures markets became over-leveraged, creating a potential entry point for bullish buyers.

    Bitcoin (BTC) has failed to regain USD 24,000 support since Celsius, a popular investment and lending platform, halted withdrawals from its platform on 13 June. A growing number of users believe that Celsius mismanaged their funds following the collapse of Anchor Protocol in the Terra Luna ecosystem and rumours of its insolvency continue to circulate.

    An even bigger problem emerged on 14 June after crypto venture capital firm Three Arrows Capital (3AC) reportedly lost USD 31.4 million through trading on Bitfinex. In addition, 3AC was a known investor in Terra, which experienced a 100% drop in late May.

    Unconfirmed reports that 3AC faced liquidations totalling hundreds of millions from multiple positions roiled the market in the early hours of 15 June, causing Bitcoin to trade at USD 20,060, its lowest level since 15 December 2020.

    Let’s take a look at today’s derivatives metrics to understand if today’s downtrend reflects the sentiment of the major traders.

    Margin markets deleveraged after a brief surge in long positions

    Margin trading allows investors to borrow cryptocurrencies and leverage their trading position to potentially increase returns. For example, one can buy cryptocurrencies by borrowing Tether (USDT) to increase exposure.

    On the other hand, Bitcoin borrowers can short the cryptocurrency if they are betting on its price falling and, unlike futures contracts, the balance between long and short spreads does not always even out. That is why analysts monitor the borrowing markets to determine whether investors are leaning bullish or bearish.

    Interestingly, margin traders boosted their long (bullish) leverage position on 14 June to the highest level in two months.

    Bitcoin/USD long/short ratio with Bitfinex margin. Source: TradingView

    Bitfinex margin traders are known to create position contracts of 20,000 BTC or more in a very short time, indicating the involvement of whales and large arbitrage tables.

    As the chart above indicates, even on 14 June the number of long margin contracts in BTC/USD outnumbered the short ones by 49 times, at 107,500 BTC. For reference, the last time this indicator was below 10, favouring the longs, was on 14 March. The result benefited the shorters at that time, as Bitcoin rose 28% in the following two weeks.

    Bitcoin futures data shows professional traders were liquidated

    The proportion of professional traders’ net positions excludes externalities that might have affected margin instruments. By analysing these whale positions in spot, perpetual and futures contracts, one can better understand whether professional traders are bullish or bearish.

    Provision of long and short positions of professional Bitcoin traders on different exchanges. Source: Coinglass

    It is important to note the methodological discrepancies between exchanges, so absolute figures are of less importance. For example, while Huobi traders have kept their ratio of long to short positions relatively unchanged between 13 and 15 June, professional traders on Binance and OKX reduced their long positions.

    This movement could represent liquidations, meaning that the margin deposit was insufficient to cover their long positions. In these cases, the exchanges’ automatic deleveraging mechanism takes place by selling the Bitcoin position to reduce exposure. In either case, the ratio of long to short positions is affected and signals a less bullish net bias.

    The sales could represent a buying opportunity.

    Data from derivatives markets, including margin and futures markets, show that professional traders definitely did not expect such a deep and sustained price correction.

    Although there has been a high correlation with the stock market and the S&P 500 index recorded a year-to-date loss of 21.6%, professional cryptocurrency traders did not expect Bitcoin to fall another 37% in June.

    While leverage maximises profits, it can also force cascading liquidations such as those that occurred recently this week. Automated trading systems on exchanges and DeFi platforms sell investors’ positions at any price when collateral is insufficient to cover the risk, putting pressure on spot markets.

    These liquidations sometimes create a perfect entry point for the savvy and brave to counter excessive corrections due to lack of liquidity and lack of bids on trading platforms. Whether or not this is the ultimate bottom will be impossible to determine until some months after all this volatility has passed.

    Source: Cointelegraph.com

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

    This is how crypto-sects are captured: “They use Bitcoin as a lure and invite you to events with big cars; it’s the same as with drugs”

    This is how crypto-sects are captured: “They use Bitcoin as a lure and invite you to events with big cars; it’s the same as with drugs”

    Spain has hundreds of platforms dedicated to scamming through cryptocurrencies. They use luxury, cars and events to seduce young people. They are their target.

    “He was caught in the street on his way home from school, he was invited to an event and when he came back from that event he was already someone else. Lucía does not know where her 16-year-old son is. Where he sleeps, or whether he eats well or badly. She is one of the victims of IM Academy, the ‘cryptosect’ accused of being an alleged pyramid scheme. His website is still fully operational. When you enter it you are confronted with a sentence. “How would you feel if you had more control over your life? Another: “Have you ever felt like you were destined for more? They promise to help you revolutionise your life, to make money. It’s the façade of a castle that hides a collective deception, one that has taken savings and families with it.

    Quantifying how many ‘cryptosects’ there are in Spain is practically impossible. “It is very difficult to locate them, there are probably hundreds,” says Dan Gómez, professor at Nuclio Digital School. To try to peek into the darker side of cryptocurrencies, you have to enter the jungle of social networks.

    If you are offered rewards for investing your money, you are facing a scam.

    Dan Gómez, lecturer at Nuclio Digital School

    On Instagram a boy in his early 20s looks at the camera with his arms crossed. Next to him a Lamborghini and behind it a stage. The car is not his. Next to him are two others, forming a triangle. “Someday I’ll have one of these,” the boy seems to think, smiling at the camera as if he knows he’s where he has to be. “When you go to one of these conferences, you get infected. You meet attractive people there, with expensive clothes and luxury cars. It’s a bit like drugs,” says Herminio Fernández, CEO of EurocoinPay. “You don’t earn Ferrari’s with cryptocurrencies. That’s image to hook these young people. They want to intimidate you,” he continues.

    This is where the alarm bells ring. The image. The luxury. The promises. A fantastic world you are invited to join. But it’s not free. They ask you for an amount to invest, “in exchange they offer you a super high reward, between 15-25%. If someone offers you that, it’s a scam,” says Dan Gómez.

    A few weeks ago, police dismantled another ‘cryptosect’. Kuailian lasted a long time,” says Gómez, “They were from Barcelona. They had big conventions. There was no shortage of big cars. And in their social networks, the ‘ringleaders’ posed smiling in fashionable restaurants. A few days ago the UDEF arrested them. They are accused of defrauding more than 500 million dollars.

    “They sell you their product. A bot that uses an algorithm to anticipate market movements,” he says. Most of these platforms have their own currency, an asset that they artificially inflate. Their goal is to prove on paper that their asset is profitable. “They give you an account number and you make a deposit. They show you how the currency goes up. When you have 3,000 or 5,000 euros, the currency loses all its value and you don’t get anything back,” says Fernández, a cryptocurrency expert.

    There are people who take out a loan to cover up the amount they have been cheated and not to tell the story at home.

    Herminio Fernández, CEO of EurocoinPay

    The target of this scam is young people. “They are the closest audience to this world, the sector with the highest unemployment and the people who tend to have the most free time,” says Professor Dan Gómez. But the ‘cryptosects’ also prey on older people. The procedure is different. They introduce you to a community. They introduce you to people with whom they even meet to play paddle tennis or go on a trip. They establish a bond of trust. Then they invest large amounts in the purchase of supposed bitcoins.

    Fernández tells of a case. That of a father who invested all his savings to get six bitcoins. When the time came, he wanted to withdraw the money. Initially, he was asked to pay 15,000 euros in taxes corresponding to the country where the investment was located. A few days later, the six bitcoins (about 180,000 euros) were gone. “There are people who have not even told their families about this. They ask for credits to cover up the scam at home. All they want is to get back what they invested,” he says.

    Herminio Fernández has been a first-hand witness to several scams. He has been involved in cryptoasset management for years. He spends part of his time alerting people to scams via social networks. “When I see a tweet or a Facebook post promising unreal returns, I report them,” he says. He adds, “I have received death threats for doing so”.

    Source: eldebate.com

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.

     

    Revolution or failure? Response from EurocoinPay CEO, Herminio Fernandez

    Revolution or failure? Response from EurocoinPay CEO, Herminio Fernandez

    In this interview published on May 14, 2022, in the newspaper El Mundo, these were the words of our CEO, Herminio Fernández De Blas, on this issue.

    The phenomenon, dubbed the crypto crash, has given arguments to both detractors and defenders, with the former seeing their worst predictions confirmed and the latter saying it is part of a great technological revolution.

    Treating cryptocurrencies as just another investment asset, in the way that stocks or bonds are, may be fine when things are going well in the market, but the problem is that they are not an investment asset, or at least not just that. Bitcoin, Ethereum and the thousands of virtual currencies that coexist, are the spearhead of a paradigm different from the traditional financial system; a paradigm based on the blockchain and decentralisation as hallmarks and it is there, in this divergence, where the fracture occurs between those who fear that Bitcoin could go to zero and those who do not give it special importance.

    “We are not facing a crash, but a scared market. Cryptocurrencies are a very new project and within that universe there are projects that can fail, as has happened with Terra. There are projects that are risking too much or that have a speculative background and there are people who are investing without distinguishing between those that are worthwhile and those that are not.
    Blockchain and the entire DeFi ecosystem are here to stay and will change the entire financial system, industry, the way we work…. It is a revolution, just like the Industrial revolution or the Internet, which, at first, few believed could be integrated into our normal life as it ended up being.

    If you want to read the full article click on the following link

    Source: el mundo.es

    Disclaimer: The information set out herein should not be taken as financial advice or investment recommendations. All investments and trading involve risk and it is the responsibility of each individual to do their due diligence before making any investment decision.