An experience that taught me a lesson in the crypto world.

I wrote a post yesterday about how I played it safe through an investment platform. You can read it here. One of the experiences I had made me change my mind and it saved me from not having an extra year in school.

For this post, I believe not everyone on Hive would understand some rules in the crypto world and I would be sharing one of it here. For the newbies, if you are opportune to bump into this post, it would be great and I wouldn't mind if you can reblog for more visibility.

One of the rules in crypto — do not borrow money to invest in any crypto token, except for some legit ones.

_{“Don't try borrowing money to invest in any crypto.”}

This was a warning from a friend that cared but I never listened because I was so greedy then. Only if I had known!

It was during the Coronavirus when all students were sent home from school and it took more than six months to stay at home. Someone introduced me to a Bitcoin site where I would invest in BTC. I don't need to do anything on the site as it keeps mining until I reach the minimum withdrawal and can be withdrawn any time of the week except on Saturdays and Sundays.

I was having some money which I invested on the site and fortunately, I withdrew more than my capital. I stayed on the site for two months and it was still running. The friend who introduced me suggested I invested more money to increase my earnings. When I withdrew the money, I invested it back.

I should have taken my capital and kept it, using the profit to continue and not even thought of borrowing more money again.

The school wasn't in any way resuming as I kept checking my school WhatsApp group every day for any updates. I called a friend to borrow me some amount of money and I promised to return it.

He did and quickly I invested together with all my capital and profit with the thought that once I withdraw the next one, it would cover the money I borrowed so I can return, then keep cashing out.

After two days, I noticed the telegram group wasn't active as usual because the group was always active with people sending their screenshots and proofs of withdrawal. That gave me hope about the site. Then, it turned to people complaining that they have placed a withdrawal but hadn't seen anything in their accounts.

Some were calming each other and hoping nothing went wrong. Till that day, my mind wasn't settled. I kept thinking of the money I borrowed and how I would return it.

I remembered the word of my friend who told me not to borrow money to invest in a crypto especially one I do not trust or sounds like a doubling money site. My mind was racing.

The next day, that was when it dawned on me that they have gone with people's money. A lot of Bitcoin was taken away. I couldn't cry because my aunt would know. My mood changed at that moment and I started pitying myself and sympathizing with the inner me.

I couldn't eat that night because I got the worst news ever. My school would be resuming in the next four days and I already used part of my allowances plus the one I borrowed from a friend.

I had to call my sister to loan me some amount of money which I returned to my friend I borrowed from. I had to beg for a little amount from different people just to take me back to school. My aunt must not know about this. When I got back to school, I limited the number of times I eat daily. I still could not remember how I survived and returned my sister's money but it was tough for some weeks.

That experience taught me a lesson and I learnt from my mistake too. When another opportunity came in, I had to think twice before borrowing money to invest in a Ponzi scheme and it saved me. Experience is the best teacher!

So, with my experience, I would want you to remember that borrowing money to invest in crypto can be dangerous unless you are sure of it. At least, I would agree with borrowing money to save with HBD because it's a trusted token in which you gain more interest each month and you can happily pay up your debt.

Thanks for your time on my blog.

_{Image is mine, designed on Canva.}