Topic: 5 mistakes to avoid when investing in Crypto - page 11. (Read 2948 times)

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.

There're more mistakes that can be made when we invest in cryptocurrencies. It's not possible when to avoid which mistake, all that depends on the project you are planning to invest and your research. Definitely investing is risky, but without risk, there's no gain. We are risking with investing and we are aware that we can make a mistake, that is normal to make a few mistakes, as long as you are profitable on majority of your investments.

There is no better way to say it than you ve said it already, I really will like to know possible sites or YouTube channels where one can learn about blockchain projects, how they work and how one can actually be a part of it.

1. Don't buy new altcoins that don't have good use case
2. Some use cases are useless but can be attractive to new investors because they have no idea what's going on with the projects use case, some fake use cases like gold and silver backed tokens aren't real

You are absolutely right. Depending on other speculation doesn't help for a long time! Researching is the only way to improve someone's knowledge about the crypto market and to invest! Though anyone who don't like researching, they can depend on Bitcoin, Ethereum, Link, XRP for the investing, because these are risk free investment in crypto!

Keep understand clearly nobody can't give you free money in the crypto market so if you want make money then keep working your own knowledge. Without research if you do invest a project then nothing profits chance and high risk for loss your money. So everything depends your own skills so go and study about crypto market.

You have a point, the very important is when investing in crypto is educate first ourselves to know more about what you are investing. Because some they just invest without doing some research on a project and also just relying on from others. There's a mistakes especially to a noob in crypto but these mistake will gives you a lesson to learn.

Nice tip and suggestions you have over there but you missed out to point the most basic mistake people when investing in crypto currencies. They forget to move their coins to a secured wallet of their own. A wallet where only they have access to their private keys.
Doesn't matter if your if you have 2 factor authentication enabled on your exchange account. If the exchange gets hacked, and loses everything, you will also lose all your coins! Look at those exchange hacks and how users were affected by it. Never hold your coin in an exchange after you are done trading.

The main mistake in my opinion it buy on FOMO when assets already cost a lot and sell on the panic when it suddenl fall down. Investor shoul be patient and wait some correctios to buy and don't be greedy and sell when asset already gave you a good profit(it is better to try to find  a new idea which give you a new profit)

Every newbie that got in here and are still not familiar must start from the basics of learning everything about cryptocurrencies to avoid or lessen committing mistakes with regards to investing with cryptocurrencies. They must know first what they have got into and acquire knowledge that they need to be able to be familiarize on everything they must know. Doing research is really a great help for better understanding. Once you have acquired knowledge, that is the time you get to explore the investment part and do the same thing of understanding how investment works and apply what have you learned on familiarizing yourself about cryptocurrencies in the market.

Investing into old and reputable coins will be a good start to have your journey on investment. Although some new coins have potential to be profitable, still it would be safe for a newbie to try investment first on known and reputable coins because new coins are risky most specially for the newbies. Learn to take hold of your funds. Upon investment, learn the thing that many people here in the forum always say "Invest only the amount you can afford to loose" because it will serve as your limitation and starting point upon doing investment so that if ever fail investment comes, you can easily move forward already taking no regrets.

To cut it all short, being knowledgeable on the thing you want to get with will save you from committing mistakes so better start up learning and the rest will follow. Do not rush things into your way because regrets always comes last so better take it easy on having the basics.

All you mention would be really helpful but i cna say that if you are a newbie, you better Do Your Own Research (DYOR).
Not everything you hear from a friend or someone else is right. And ofcourse Invest what you can only afford to lose so you won't cry later.

Many people have the same thing as you, and we still trying to control ourselves from the mistake. Maybe we feel it is difficult to control, but we still need to try no matter if that will be hard because only with controlling ourselves, we can stay calm in any situations and avoid to make another mistake. Buying the coin when the market growth is too risky because we don't know if the price can still increase or not, so we need to calm down first to see the chance.

Almost every month, similar posts are created - but still there are newbies who come to the market and think that they are the best.
Can you stop writing like this and switch to the "survival of the fittest" tactic as the usual (and any) market works? No one here needs another suicide because of drained credit money or some other nonsense. Those who ready for real investments will deal with this world themselves - there are plenty of resources.  guys with negative IQ are definitely not needed here.

Although I have been in the market for nearly 2 years, I still cannot avoid the biggest mistake that is FOMO, especially when the market is growing strongly as at present. At that time, I broke down my own rules and bought crypto at very risky prices.

1.Invest money that you're not willing to lose
2.Panic shorts when the price goes down : to not confund with calculated (and for me, good) shorts when the price goes down in crypto projects you really believe and so, just in order to see the price goes even more down and buy even more of them than how many you shorted.
3.Not use stop-limit orders and price alarms (without abusing of it of course in the risk of becoming crazy)
4.an obvious one but only watching the numbers and the curves without looking at the content of the projets and the news about it,crypto world and in general -virus,war,oil price,crisis,etc...- (classical trading advises of course)
5.a bit the reverse of the 2 but shorting too early when the price skyrockets despite the fact you truly believe on that project to have even more potential than that.

Actually, 2 and 5 can be summed by "stay calm and composed and think clearly about the bigger picture whatever the price movements are"

I totally agree with all your ideas, but in the world of cryptocurrency the most important thing is to dare to take risks. The price of crypto which is very volatile is not intended for those who are timid.

actually not only beginners, but old players also still often find a mistake, especially when there are new projects. without realizing it, everyone including old players must also be interested in new projects that are not yet clear how it ends. but the difference is, old players will decide longer and will do the analysis first. yeah right, this is an important explanation.

Basically investment should be made after clear understanding about the project but most of the people here are missing out it, they are running behind a project which advertised by top exchange and influencers via different social media platforms.And also avoid investing on new project on this most of the people won't agree but in reality crypto market is overwhelming with new ideas and projects so none of them are getting real attention.

Indeed. You should always take your time to learn and explore new things in the crypto world because we won't achieve our goals with cryptocurrency if we won't work hard for it. Also, you should learn how to control your emotions when you are investing in crypto that you shouldn't let your greed overcome you because you could lose your funds.

Yes, obviously the things you mentioned are things that are always experienced by many people, including myself, because in the past when I became interested in crypto and investment, every day I always take the time to learn new things in crypto and investment methods.