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.
Topic: 5 mistakes to avoid when investing in Crypto - page 8. (Read 2948 times)
It is what newbies aand also people that said they are "experienced" at trading struggles to including me. They always do overthinking stuff, but they always don't remember about basic stuff such as investing on one basket or even keeping your assets on exchanges that you don't have access to the private keys. Either newbies and pros should definitely take a note on that.
Some points that you have mentioned is very true. We must always research about the projects before we will invest on it.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.
indeed investing in altcoins has a very high risk but you must know that behind a very high risk can provide a lot of profit, meaning you have to be brave with the risks that exist and face them because if you just act, make sure to also invest in altcoins that have a supply. which is very limited so as to minimize the existing risks. Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.
Some points that you have mentioned is very true. We must always research about the projects before we will invest on it.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.
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.
I am both disagree/agree a little bit with this, bitcoin alone is already enough and safe investment if you are holding for long term. But I doubt it will work on altcoins, because some altcoins is not really trusted we are not sure if it will recover after a crashed, so diversification is good option if you prefer to invest on altcoins.Just a little tip for investors/traders: Always set stop loss
From the list above, what is most often feared when investing in projects is like being stuck in FOMO. We need to pay attention to this, especially the trend or Hype DEFI which is a new investment concept at this time. if we put our money wrongly in the Defi project then we risk losing or getting stuck in FOMO.
Fomo DeFi is currently a trend. Many new projects claim to be DeFi, DeFi and DeFi. That will leave beginners feeling confused, what is feared is that these budding investors think DeFi-based projects are sure to be successful. in fact not, it all depends on the team, product and some things that are important in the project.
Thanks for those instructions, we as crypto investors and traders, we got used to secure our funds and our coins.
We need to learn how to make sure that we are doing the right thing to ensure the security of our assetswhile we are inside this business.
We trade wisely and i got used to swing trade sometimes, diversification isn't my type of investment as it might bring some serious losses too if you get the wrong coins in your pockets.
Better to think and assess before taking your side, there are many opportunities if you are willing to takethe extra time to analyze.
It's always recommended to research and to analyse each step before doing any movements, luck may be a factor too in this field but in most of the cases there's a loss risk, our mission is to lower that risk and to try to make the biggest gain possible without any greed.
Luck adds up and sometimes bring you really fortune to earned much higher than you expect.Newbies must learn, that's a fact, coming with a million dollars without a plan might make you close the account having 0 as a balance. BE WISE.
Those too good to be true practices should be avoided, do your DYOR to lessen the risk of your investment. yes, some pretty good suggestions, especially for beginners, at least the suggestions above can minimize investment losses. Besides that, you also need to pay attention to financial management, my advice is not to invest in one coin, if you have a lot of money, prioritize investing in BTC and set aside some for top altcoin investments.
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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.
You've read the topic inattentively. It was the third advice.P.S. I want to add something. Protect a crypto wallet with two-factor authentication or buy a cold wallet to maximize your security.
yes, some pretty good suggestions, especially for beginners, at least the suggestions above can minimize investment losses. Besides that, you also need to pay attention to financial management, my advice is not to invest in one coin, if you have a lot of money, prioritize investing in BTC and set aside some for top altcoin investments.
Thanks for those instructions, we as crypto investors and traders, we got used to secure our funds and our coins. We trade wisely and i got used to swing trade sometimes, diversification isn't my type of investment as it might bring some serious losses too if you get the wrong coins in your pockets. It's always recommended to research and to analyse each step before doing any movements, luck may be a factor too in this field but in most of the cases there's a loss risk, our mission is to lower that risk and to try to make the biggest gain possible without any greed. Newbies must learn, that's a fact, coming with a million dollars without a plan might make you close the account having 0 as a balance. BE WISE.
Very understandable, and it sound perfect. Maybe the practice can still be different from what is said. Big risk for big profit, and small risk for small profit.Experience will lead us in the right direction, its just that the luck factor is sometimes not on our side. For thing that are hard to predict like crypto price, I think the luck factor is the hope of all trader because crypto price fluctuate all the time.
Thanks for those instructions, we as crypto investors and traders, we got used to secure our funds and our coins. We trade wisely and i got used to swing trade sometimes, diversification isn't my type of investment as it might bring some serious losses too if you get the wrong coins in your pockets. It's always recommended to research and to analyse each step before doing any movements, luck may be a factor too in this field but in most of the cases there's a loss risk, our mission is to lower that risk and to try to make the biggest gain possible without any greed. Newbies must learn, that's a fact, coming with a million dollars without a plan might make you close the account having 0 as a balance. BE WISE.
Just to add some tip. Before you invest to a particular ICO you need to check their progress. Does it seems like they're on their way as they promise in their plans? Also if the coins in market are not active don't invest on it. Sometimes you can see them at high price but low quantity.
They should also know anything can happen any time. Despite the security and assurance in any coin or exchange. So, staying on their toe that money can be lost is also important.
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.
I agree with you, put all your eggs in one basket is very risky, and the worst choice to investing in crypto. Better to invest on the best 10 high volume coins, and trade it daily. A small profit is good for a newbie, and then you will become an expert day by day.
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
This thread is very informative especiallly to those who are new in the crypto society and wanting to try investing to it because they can have knowledge on how avoid a wrongly investment. 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
Without apps development, we can't control all of this problem. Here I want to share some problems with "two factor authenticator". I sent several emails to Google that we need an option to change all authenticator code from Android to iOS. We can't send them all from Android to iOS, but we can from Android to Android without any security!
I have a bad experience like point number three that you mentioned, since then I also never invested money in just one basket. and what everyone needs to pay attention to is never to trust a new platform
We that could be right but I think all of these can be done using our common sense. There are many things that could be consider as NO NO when doing an investmeny in cryptocurrency. In my opinion first of it is all about no to invest on ICO projects, no to get attracted on free token like airdrops, not to believe team promising to double your money fast and easy and never ever attracted when someone has a good offer and you should only imvest a little. It is a scam project that your even the minimum funds they will get from you.
And again, never hesitate to use stop-limit orders.
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.
Thanks for adding this. This particular point is very important; "invest only what you can afford to lose." While I get tempted to take loan from bank to invest in crypto, I do remember the risk involved and how things can easily go wrong. Jump to: