Mishaboar, a Dogecoin developer, made comments on the harsh truths about crypto investing. Taking to X (formerly Twitter), the developer urged the meme-coin community to understand the risk that comes with it.
“Crypto is extremely volatile and risky” Mishaboar plainly stated, advising investors to never bet more than they can afford to lose. While giving sound advice, the developer lamented how often this basic principle gets ignored especially by the “newbies,” leaving traders “burnt” when their gambles go belly-up.
Mishaboar stressed that no one should be losing sleep over their crypto holdings, calling such scenarios clear signs of being “overexposed.”.Labeling the space as “educated gambling,” he vowed to start using his X platform to awaken “newbies” to the real risks and rewards.
The developer fears too many fresh market entrants are being misled by “grifters, criminals, and peddlers” who downplay or hide the dangers. Mishaboar’s response to this was for people to tell the truth about crypto investing so as to protect new investors from going broke while chasing meme-coins and other crypto-get-rich-quick schemes.
While acknowledging that it’s okay to gamble, Mishaboar implored traders to be responsible. Funds for essentials like houses and education should not be used when gambling on cryptocurrencies.