Topic: 5 mistakes to avoid when investing in Crypto - page 10. (Read 2923 times)
If you wanna succeed in making money then you need to avoid FOMO and jumping in. Also understand that if it's not your keys then it's not your crypto even in the trusted exchanges, anything can happen.
Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.
Really ? Did they even know blockchain before Bitcoin was born? It's hard to believe words like this, If they have known blockchain for a long time, why are they starting to create a project now?
Newbies usually do what most people tell them to do, most newbies buy and invest on coins/tokens which is recommended to them by the person who introduce them so it is very easy to fall as victim in bad project, so this type of advice will be very useful and helpful.
the other thing is, avoid investing in projects that don't have complete information. before investing, there are so many things to think about. this is done to avoid scammers. well, maybe doing in-depth research on all aspects is quite a pain. however, be aware that it really does need to be done to reduce risk.
Newbies cannot do any research. people just invest money and only after they lose it they begin to study project models and learn to distinguish scammers from normal projects
Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.
Avoid projects that aren't fully transparency, if you don't or can't understand how a project works or functions and the team aren't doing anything to make you understand better it's a sign that the team have no good aim, better go for another project before it's too late
When all the mistakes can be overcome properly, there are still mistakes that are very difficult to avoid by some investors or novice traders, FOMO. FOMO will be related to our mental readiness. When FOMO happens, there will be a lot of hope that will keep us going. It's a good FOMO to avoid being stuck at high prices. The most difficult mistakes are mistakes related to mental or psychological. It takes some practice and self-understanding to avoid being too greedy and must remain complacent.
If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes
1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.
2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.
3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.
4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true
5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges
1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.
2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.
3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.
4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true
5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges
Very informative and educating content I must confess. I never really got this piece of information when i started, else, I wouldn't have made the mistakes i made earlier in my crypto life, but i have come to learn it the hard way and it has remained a scar that contnuously shows me the victories i have won in the battles.
And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.
Yes, on the one hand you must be able to manage your financial management properly. I mean not only depend on one coin. if you have a lot of capital then consider investing in some of the top coins, at least you can get more profit when the coins you invest have high selling prices in the future. on the other hand investing takes time, you must be able to be patient and always monitor the market situation or the coins that you invest too. 
to point 4: When you see everyone buying a trending coin, then it is the right point to sell this coin, otherwise it may be too late. And another point: rely only on yourself and never on different gurus
And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.
And never ever loan, borrow money from someone of in a bank or credit card and it put in investments or trades cause you really don't know what you up to, it is too risky too make such moves. Better have or own money and make your own decision in order not to regret once the unfortunate things happen.If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes
1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.
2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.
3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.
4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true
5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges
I would rearrange those in this order - 145321. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.
2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.
3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.
4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true
5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges
But besides arrangement your advices are extremely helpful and most of crypto newbies should see this on the "crypto market entrance"
And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.
And never ever loan, borrow money from someone of in a bank or credit card and it put in investments or trades cause you really don't know what you up to, it is too risky too make such moves. Better have or own money and make your own decision in order not to regret once the unfortunate things happen. hero member
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If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes
This is truly a nice advise you write out to help people overcome trading and investment mistake. However, i think not only the newbies needs to pay attention to it but also the experts as constant reminder helps overcome mistakes better. All the advises are on point but i want everybody to pay attention to the last one that talked about security as it is the ultimate key to protecting one's investment crypto space
Every people needs to know how to avoid making a mistake, not just the newbie. Even for the expert, they can make a mistake because they can not always control themselves. The control will be necessary because that can help us avoid the mistake, and we can think clearly before we decide. Security will be the important thing that we need to concern about, and we need to try the best we can to protect the asset.
Agree with the lists you have. These are my struggles when I was new in crypto, I have been investing out of FOMO, using the wrong exchange even tho there is a bigger exchange with higher volume, keeping the private key or securing the files for my wallet. I have experienced almost all of the most common mistakes done by newbies and some of my experiences had cost me a high amount of money, all of it was charged to experience. It's okay to commit these mistakes as long as you learn from it.
If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes
This is truly a nice advise you write out to help people overcome trading and investment mistake. However, i think not only the newbies needs to pay attention to it but also the experts as constant reminder helps overcome mistakes better. All the advises are on point but i want everybody to pay attention to the last one that talked about security as it is the ultimate key to protecting one's investment crypto space
I want to add one, don't go for the low price or the high price. because the price does not determine, but what determines the most is how the coins work in the market and the volume of the crypto coin to be used as one of the selection options.
We should wait for a low price, if somehow we missed Binance IEO. You know Binance listed coin has a huge volume and most of the time these projects are doing perfect work as promised. I know, we shouldn't invest only in profits but most of the investors do. If you are looking for higher profits than low price and high sell is also a matter. These are indeed good advice for newbies as many always come into Crypto thinking it's a get reach quick project forgetting there are ups and downs so to curtail the huge heartbreak it's best they listen and take the advise especially buying of coins, knowing the project to invest and also investing but just in one projects helps to curtail loss. It's a good advice.
No one gets rich in crypto without working so hard and making deep researches in the first part of learning. Investing in crypto is really risky as it is so you need to prepare yourself for more losses than profits particularly if you're still a newbie. And yes investing in a single coin is not advisable as there are high chances that you will lose everything your assets in just a blink of an eye so you need to study numerous coins and how they move in the market so you will learn how to diversify your investment. 
the fourth and fifth points are often the cause of new investors or newbie's losses. Fomo, hype, etc. make the newbie panic and want to join without thinking about the long-term effects on the investment chosen. easily provoked with big discounts, and easily influenced by people's assumptions that are not necessarily right.
because they do not understand the crypto ecosystem, often the level of security and important keys are not managed properly, this must be understood first. do not let your money disappear because of carelessness.
because they do not understand the crypto ecosystem, often the level of security and important keys are not managed properly, this must be understood first. do not let your money disappear because of carelessness.
I want to add one, don't go for the low price or the high price. because the price does not determine, but what determines the most is how the coins work in the market and the volume of the crypto coin to be used as one of the selection options.
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