Mila is whispering so her boyfriend won’t hear her. The 30 years old designer from London is down about £14,000 as a result of her decision to get into investing, in addition to another £8,000 profit she made on bitcoin last year, but then lost. Nobody knows the full extent of Mila’s losses.

It started in November 2020, around the time of the US presidential election. "People expected Trump to win again," she says, “and it was a weird time, because it was mid pandemic, and it just seemed like this financial moment might be happening.” She started reading about cryptocurrencies online, and the more she read, the more ads for trading platforms she was served on her social media feeds. Because of Covid, Mila had not spent much money over the year. So she bought £10,000 worth of the cryptocurrency bitcoin online, which turned into £18,700 within weeks .

She was totally newbie and never invested before. She’d sleep with her phone under her pillow and wake up during the night to check the performance of her bitcoin. "It was cooking her brain" constantly checking her phone. All she talked about to her boyfriend was how well her investment was doing and how she made £400 in a day. Mila started then to dream big, flushed with success, she pulled her money out of bitcoin, and started investing in other cryptocurrencies and stocks: Ripple, and other cryptocurrencies, and companies. She learned the language of the online “meme stock” movement, the community of amateur investors that on social media platforms to discuss their options. 

Pretty quickly, everything began to fall apart. First Ripple crashed, then in February Mila got into the GameStop mania too late, and lost even more money. It was the worst time for her .“she couldn’t eat, was just constantly looking at her phone.” She spent even more time online looking for recommendations as a way of back some of the money she’d lost, or else buying what other people were investing in on the popular trading apps. At the time, Mila has lost her £10,000 initial investment, the £8,000 she made on bitcoin, and another £5,000 on top of that.

Part of the problem was that Mila is not an investor was a newbie and had no patience and no idea what she was doing at all.she finally said that she see it as gambling , she hesitate to invest again as it cost her a lot of money and her life savings.

Thats why friends always do your own research before investing , learn as much as you can and most important thing be patient , patience is the key.