Tesla CEO Elon Musk responded to a long thread of tweets posted by Twitter user Mishaboar, drawing attention to the dangers and pitfalls of leveraged Dogecoin trading. Here are the details…
Celebrity warns of leveraged Dogecoin trading
Mishaboar tweeted that some cryptocurrency holders began seeking help after their leveraged accounts were liquidated. That’s why he stressed the importance of educating people about high-risk leveraged trading, comparing it to “adding gasoline to the fire.” He said novice investors should not be fooled into thinking that “gambling” is an integral part of the cryptocurrency space.
The prolific member of the Dogecoin community added that only experienced traders can try their luck at margin trading, but they still have to beat the big institutional players. He also points out that the cryptocurrency market is largely unregulated, thus prone to manipulation:
It’s like playing Russian roulette against the guy who made the gun and knows exactly where the bullet is in.
Elon Musk responded to this thread of Mishaboar’s tweets, calling it “a good series”. cryptocoin.com As we reported, Binance and FTX, two major crypto exchanges, had to significantly reduce their maximum leverage ratios earlier this year due to regulatory review. However, there are numerous trading platforms that allow their clients to place extremely risky bets. Meanwhile, the largest meme coin Dogecoin (DOGE) is trading at $0.19 percent. It has lost 4% in the last 24 hours.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram and YouTube join our channel!
Disclaimer: The articles and articles on Kriptokoin.com do not constitute investment advice. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, asset or service in this article.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.