💸 Julian Figueroa, author of the popular YouTube channel The Exit Manual, shared his personal story of cryptocurrency investments over the past eight years. According to him, during this time he lost 14 BTC, which is currently equivalent to about $1.6 million. These losses were the result of three key mistakes that serve as a warning to anyone just starting out in crypto.
“I made the mistakes that almost 90% of people buying Bitcoin today make,” says Figueroa.
Let’s break down the three main ones, according to Julian.
1️⃣ Trying to profit from trading: loss of 4 BTC
Figueroa’s first mistake was attempting to “beat the market” through active trading.
“This is practically impossible. No one can consistently win in the market — not professionals, not hedge funds. If you simply buy and hold, the returns are almost always higher than those of traders,” he explains.
Active trading requires not only deep knowledge and experience but also nerves of steel. The volatility of the crypto market makes short-term fluctuations unpredictable: even the most “guaranteed strategies” can turn into losses.
Takeaway for beginners: long-term investing (buy-and-hold) often proves to be more effective than trying to “profit from market swings.”
2️⃣ Altcoin hype: loss of 2 BTC
The second mistake was investing in altcoins. Figueroa admits:
“I bought coins that I thought would outperform Bitcoin. But that never happened.”
Altcoins may promise high returns, but their market is extremely unstable. Investors often fall for hype and trendy narratives, leading to emotional decisions and significant losses.
Expert advice: before buying an altcoin, analyze not only its marketing buzz but also the project’s fundamentals: team, technology, liquidity, and real use cases.
3️⃣ Bankruptcy of a centralized exchange: loss of 8 BTC
Figueroa’s biggest losses came from exchange risks. He lost 8 BTC after the bankruptcy of a centralized crypto exchange.
“Crypto exchanges are not banks, they’re casinos. Only self-custody is true security,” warns Figueroa.
Centralized platforms may offer convenience and liquidity, but they also carry risks: fraud, hacks, frozen assets, or outright bankruptcy. In the crypto world, it’s vital to remember: if you don’t control the private keys — you don’t fully own your money.
Practical solution: use hardware wallets, multisig storage, and never keep large sums on exchanges longer than necessary.
Key lessons from Figueroa’s experience
- Long-term investing usually outperforms trading. Market volatility makes short-term strategies extremely risky.
- Be cautious with altcoins. Research projects thoroughly and don’t fall for hype.
- Control your assets. Keeping cryptocurrency on exchanges is always risky. Hardware wallets and cold storage are your best friends.
- Emotions are the investor’s worst enemy. Fear of missing out and greed often lead to reckless decisions.
💡 Conclusion
Julian Figueroa’s story is a vivid example that even experienced investors can lose substantial sums if they ignore the fundamental principles of security and investment psychology.
For beginner investors and even seasoned traders, this story is a signal to rethink strategy, risks, and discipline.
“I lost 14 BTC, but I gained invaluable experience. It’s better to learn from others’ mistakes than from your own,” Figueroa concludes.
A video clip of his talk is available on our Telegram channel.
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