Topic: 5 mistakes to avoid when investing in Crypto - page 3. (Read 2923 times)
Thank you soo much for creating this topic. Because of you we are getting lots of information though you missed some information too like about using exchange or physical wallet to hold coin. But other member told this plus lots of member share their thought what we definitely Avoid to do in crypto. If we want to get a safest journey on crypto then we sould follow rules and you mentione some needy rules thank you for shareing your knowledge with us. And also the other experts member who also share information thanks to all of you. Have a safest journey on crypto.
thank you for the information and warning that you have described above because this is very useful for beginners in investing. because many beginners lost all their assets because they made a mistake which you have conveyed in this thread. and in my opinion and this is very important for beginners to know is "never trust anyone before you learn and research about something that other people tell you"
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
I agree with your statement, from some of the descriptions that I read are all true what you said and those are some mistakes made by new traders, I have also experienced bad things as you mentioned in point 4.
As a new investor in altcoins I found this thread very useful.
In Jan I invested around 1k in 5 coins. So.far they are seem to be doing well and i am decent amount up
The only question I have is about storage and saftey. I use Coinbase. Is that safe? Do I need to use extra security? Is coinbase reliable?
Thanks
In Jan I invested around 1k in 5 coins. So.far they are seem to be doing well and i am decent amount up
The only question I have is about storage and saftey. I use Coinbase. Is that safe? Do I need to use extra security? Is coinbase reliable?
Thanks
Of all the OPs mentioned, the most basic thing that must be done is to have sufficient knowledge and understand well everything related to crypto investing.
because if you have the best knowledge of how crypto works and learn everything crypto related, all the risks and problems that will arise in investing will be considered for starting when is the right time to start.
And the knowledge base will take the next step to learn what you need and other things related to working crypto to be able to study well to understand everything perfectly.
because if you have the best knowledge of how crypto works and learn everything crypto related, all the risks and problems that will arise in investing will be considered for starting when is the right time to start.
And the knowledge base will take the next step to learn what you need and other things related to working crypto to be able to study well to understand everything perfectly.
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
Some of your statements are very helpful for them to make an investment, but there are some points that you may forget to add, including beginners who make investments that should avoid panic and don't have a big appetite. In my opinion, this is also a fatal mistake in investing in digital currencies.
Yes, not all FOMO is bad sometimes it's profitable but the OP here is talking about "beginners in crypto" because don't have the experience yet.
Of course not all of them, but I believe what the OP meant was mostly FOMO. I also believe that FOMO is a bad trend and should not be followed, as most FOMO ends in a loss. FOMO is the biggest enemy of traders and investors alike, because FOMO can be easily played by whales, so be careful if you trade/nvest based on FOMO trends. 
No one's perfect. Even if you know all the traps and pitfalls, carefully studied the entire info, used well-protected digital wallet and invested only in reliable projects, you can lose your possessions. So the most important rule among of all is not to invest your last money but to invest the amount you are ready to lose.
Of course, better safe than sorry. Investing is a responsibility but not all investors can handle the same level of responsibility. Digitalization will create a mass adoption and we are early in this industry, so I prefer to keep investing in the market no matter I make mistakes or the right decisions. Losing is part of the game, we should accept it. Reliable projects are not more than 100 or 200 but everyone keeps shilling the bought bags for getting more and more from their investment. 
FOMO isn't entirely bad like you are saying OP, it depends on what you FOMOing on honestly, when btc spiked to 30,000 FOMO got over me and I invested a thousand dollar, it ends up favouring me, FOMO is not something you can throw away it's part of you, just know when to use it
Yes, not all FOMO is bad sometimes it's profitable but the OP here is talking about "beginners in crypto" because don't have the experience yet. So it's natural for him to say that.you are not beginner here and of course you have a lot of experience with FOMO that's why you dare to invest
Thank you! This can be a good thing for me even though I have known crypto for a long time. This may not be easy, what we already know to avoid the bad things in investing or trading can sometimes be defeated by greed. Controlling emotions is also important in Crypto.
Sometimes it's not a guarantee that someone who has known cryptocurrency for a long time, they are much smarter in investing and trading,it is true that controlling emotions is very important, just imagine if when we are investing or trading our emotions are unstable, of course it is detrimental to ourselves,
so from now on we have to learn to control our emotions to be more stable
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
Your advice is certainly important, but nevertheless, even old people who are fond of cryptocurrency for more than one year neglect such simple rules. I think the forum should have more topics related to the safe purchase of cryptocurrency and security support in general. 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
If you are a newbie in crypto world you should more research about it first. And you should avoid some mistakes. Some investors, mostly beginners, want to make early trades a day. This is dangerous. Don’t chase cheap coins with dreams of Lambos and private jets. Lots of investors are impatient and ‘cut their losses’ early because of emotions. The cryptocurrency market is made of cycles, where prices rise and fall drastically.
FOMO isn't entirely bad like you are saying OP, it depends on what you FOMOing on honestly, when btc spiked to 30,000 FOMO got over me and I invested a thousand dollar, it ends up favouring me, FOMO is not something you can throw away it's part of you, just know when to use it
If you have that knowledge and you do understand the risk of riding with fomos the chance to earn out from this trend gives decent compensations, it's part of the market that you need to take advantage.
Those who knows how to ride and quit in the right timing are surely gaining from thier investment, there are different strategy that
traders are following and part of it is riding with whales.
High risk but if you completely follow the pattern then it also can bring great benefits
to your invested money.
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
What i have experienced over time in this market is that diversification does not matter much especially if you are staying top coins for example bitcoin and ethereum as they have proven to be less risky and returns have been good enough to not leave them especially if you are in for long. 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
FOMO isn't entirely bad like you are saying OP, it depends on what you FOMOing on honestly, when btc spiked to 30,000 FOMO got over me and I invested a thousand dollar, it ends up favouring me, FOMO is not something you can throw away it's part of you, just know when to use it
yes that's good advice, i observe that Most of the newcomers come to this market and they just think that investing in crypto can make overnight rich. and it's also the worst mistake people make when investing in crypto is not considering risk management. No matter how great the coin is, risk management is very important when investing. So this is why observing the market is so important and studying it.
Also dont forget the basic of trading. Set your Stop Loss if you wont suffer it more.
Because its possible for your assets to be far decreased if you hold too tight.
Because its possible for your assets to be far decreased if you hold too tight.
thanks for the guidance with this I can understand what investing in crypto is and how to use it. I understand that I am a new player 
You have a point, the vital thing to know when investing in crypto is teach ourselves first to know more about the thing you are investing. Since some they simply invest without doing some investigation or research on a project and furthermore depending on analysis from others. There's an errors particularly to amateurs in crypto but these misstep will gives you an exercise to learn.
Keep in mind that everyone is a newbie and their experience is different in every way, so in general you have to keep learning to produce so your experience can be enjoyable.
I believe that everyone will agree that each of us was once a beginner and started our activities in the cryptocurrency market from scratch, and the main thing is to define real goals for ourselves in order to move in the right direction being a newbie do come once and it wasnt permanent but thats true that we need to strive learning to stretch our brain and filled it with more knowledge that can benefit us in the long run
defining real goals for our selve is like finding the true meaning or true purpose of life and this indeed can make us motivated that we can forget the bad habits that we did and we can get back on track again
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