Topic: 5 mistakes to avoid when investing in Crypto - page 12. (Read 2948 times)
FOMO isn't entirely bad, it's just that it's a dangerous tool from new projects with small market cap, FOMO should only take over you if it's on Bitcoin or top 5 altcoins in crypto space, stay away from small altcoins with low market cap, they create FOMO only to dump on investors
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.
Exactly, investment in crypto is just too risky. You can gain the double of what you invested in couple of days or months, as well as lose everything within same period. Only invest what you can afford to lose. Furthermore, it has been advised several times on this forum that, if you're a newbie investor, try and stay away from the new projects until you gather some Knowledge and experience about the space expect you have an experienced and trustworthy investor that can help out, better still, invest what you can afford to lose on the top 10 ranked coins/tokens on coinmarketcap.
1. Don't invest on new coins that aren't popular or have popular partnerships
2. Don't invest on new coins that only want to list on p2pb2b exchange or other small exchanges, they always have wash trade and fake volumes
3. Go for top altcoins that are still cheap, they protect your neck more than new altcoins in crypto market today
2. Don't invest on new coins that only want to list on p2pb2b exchange or other small exchanges, they always have wash trade and fake volumes
3. Go for top altcoins that are still cheap, they protect your neck more than new altcoins in crypto market today
Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.
That's what we do when we are investing, we are always positive that the price of our coins will rise and we can sell at a good profit, but sometimes our expectation does not happen as we can't say we will be right all the time as this market alone is every unpredictable, learning from your mistakes should be the best way to do to finally get the success in the long run.
Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.
That's what we do when we are investing, we are always positive that the price of our coins will rise and we can sell at a good profit, but sometimes our expectation does not happen as we can't say we will be right all the time as this market alone is every unpredictable, learning from your mistakes should be the best way to do to finally get the success in the long run.
Investing in cryptocurrency is high risk because too many fraud projects and all you need to remember is trust no one. Dont follow the hype of project if you dont understand anything about the project.
just buy a crypto currency that is already in the top 10 coinmarketcap, or buy in binance, don't follow an obscure ICO or IEO, of course you could be hit by a scammer
Great point. Whats the point of buying ICO or IEO for the price of a good project that is on top 50 of coinmarketcap. Lot of nonsense projects are out promising things that are not possible. Its better you go for the ones that have done it for years and have proved themselves
Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.
These are parts of the mistakes not to make but there are several more. One thing about cryptocurrency investment is that the more you're into it more you learn.
The most hype projects are the most dangerous projects a newbie can invest on, presently DeFi projects are trending big so newbies should be aware and ready to do good research on new DeFi projects before spending a penny on them
They'll be safe if they will do all necessary research before investing, it's a must and very important so they are not jumping that quick without any knowledge about the investment that they are participating with.
Investing in cryptocurrency is high risk because too many fraud projects and all you need to remember is trust no one. Don't follow the hype of project if you don't understand anything about the project.
Very True, never to entrust your investment you need to work with your research from that point you'll be able to pick the right project for you.
I have said that diversifying even outside of crypto world is the way to go, diversification is the most important thing in the investment world and being 100% in crypto is not a solution even if you invest into multiple stuff.
I would say depending on your money you could go for a lot of stuff like forex, stock markets, gold and stuff like that, even real estate because let's be honest bitcoin or crypto alone couldn't save you, there are a lot of times when crypto does go down all together as well and there is not one that goes up. Hence why diversification outside of crypto is crucial when you are making investments, you should always look for other stuff as well in case of emergency and you should have as much fiat in savings and liquid as possible to make good investments when you see one.
I would say depending on your money you could go for a lot of stuff like forex, stock markets, gold and stuff like that, even real estate because let's be honest bitcoin or crypto alone couldn't save you, there are a lot of times when crypto does go down all together as well and there is not one that goes up. Hence why diversification outside of crypto is crucial when you are making investments, you should always look for other stuff as well in case of emergency and you should have as much fiat in savings and liquid as possible to make good investments when you see one.
I will encourage everyone with good advise to pure it out here for newbies to learn. it is important now that we are in the bull market. many will try playing the gambling game buy invest almost everything they have and might loose it at the end. please do not invest your life savings in crypto. it might dissappear or you might not recover it.
This thread is very useful for newbie. Because when they come to the crypto market, they put themselves in danger by seeing various interesting advertisements. No one will give you free money, those who claim to give free money are scammers. Scammers always promote big offers so that newbies fall into their trap.
Another point is, never to use the exchange to hold your crypto asset. Because at any time there could be a major attack on the exchange and you could lose your entire fund. So care should be taken in advance
Another point is, never to use the exchange to hold your crypto asset. Because at any time there could be a major attack on the exchange and you could lose your entire fund. So care should be taken in advance
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These are really good point to notice for newbie investors. All of these are important but specially choosing a proper exchange for trade/invest and take care of privet keys are the most importance one. If you join an ieo event then make sure that ieo platform have much reputation. Otherwise your asset will be on risk cause out there many scam exchanges running many scam ieo.
Such points are pretty impressive and indeed those were the common mistakes that most newbies have been doing for quite some time whenever they enter this industry and started to decide to get into investment. To make those good points be made into simple, basically you need to entirely educate yourself of all the important matters that you needed to learn not just about crypto investment or trading but into the whole usage and importance of cryptocurrency itself because if you did acquire needed knowledge, then those mistakes will be avoided due to the reason that being knowledgeable will keep you safe at all times and may lessen the chances of committing mistakes.
Always keep in mind the learnings you do obtain on familiarizing yourself about crypto because those knowledge can be useful in all manners that concerns cryptocurrencies. With regards to crypto currency trading and investment once you have already learned everything needed to analyze the coin you wish to invest, still take it slow on investing only amounts you can afford to loose just to keep on track because doing that will also be part of observing the coin's behavior to fully interpret its capacity to give you gains or losses.
Always keep in mind the learnings you do obtain on familiarizing yourself about crypto because those knowledge can be useful in all manners that concerns cryptocurrencies. With regards to crypto currency trading and investment once you have already learned everything needed to analyze the coin you wish to invest, still take it slow on investing only amounts you can afford to loose just to keep on track because doing that will also be part of observing the coin's behavior to fully interpret its capacity to give you gains or losses.
Investing in cryptocurrency is high risk because too many fraud projects and all you need to remember is trust no one. Dont follow the hype of project if you dont understand anything about the project.
just buy a crypto currency that is already in the top 10 coinmarketcap, or buy in binance, don't follow an obscure ICO or IEO, of course you could be hit by a scammer
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.
Cryptocurrencies are a new form of digital assets? No bro, cryptocurrency already exist for so long, bitcoin since 2009. 11 years is not newIf you are worried about the future of cryptocurrensy, I think you should look at the bitcoin price history https://en.wikipedia.org/wiki/History_of_bitcoin
Investing in cryptocurrency is high risk because too many fraud projects and all you need to remember is trust no one. Dont follow the hype of project if you dont understand anything about the project.
just buy a crypto currency that is already in the top 10 coinmarketcap, or buy in binance, don't follow an obscure ICO or IEO, of course you could be hit by a scammer
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.
need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.
unfortunately many people use shady exchanges because they are dark exchanges that list most new projects, which means that most people are left with no choice
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.
honestly investing in bitcoin and altcoin is not diversifying investment in my opinion. diversifying would be to invest in cryptos, gold and buildings
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 agree
First thing every investors should know is that you never loose until you sell, as long as you made a wrong selection in your investment,never panic sell just because you saw your coin dipping, hold and wait for it's time. Also make sure never to invest only in a single project,you can diversify your fund,then make sure to hold your asset in your private wallet .
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Relying on a single project isn't good, having Bitcoin only in your wallet is a bit better but still not good enough, create better opportunities and build more chances for yourselves, have more altcoins and tokens, it won't hurt
The thing with altcoins its more risky than to just invest on bitcoin alone, we don't know if those project are gonna be around in the future, but if those projects succeed the payoff is huge. Although it is risky, people tend to buy altcoin, hoping that they can make more bitcoin, and right now, I think some people already make a profit from that, and they are waiting for the bitcoin price is back to the higher price. Investing in altcoin will be good for them, as long as they can select the right altcoin to invest. They can only do that by analyzing the altcoin from the lists to find the altcoin. But I think the altcoin can work for a short term investment because there are too many altcoins at the market.
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