8 Mistake People Make When Investing In Crypto - page 2.

Ziskinberg

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Quote from: Mpamaegbu on June 06, 2022, 05:37:07 AM

3, 6, and 7 were just me during my noob days. This day, I know better. I suspect that those too may be common with every newbie especially that of buying a crypto because it's cheap. That dealt heavily with me. When I look back now, I smile at my ignorance. I used to think then that every crypto was going to soar like Bitcoin was doing then. That was in 2017 and Bitcoin was having a good time. I felt it was also the right of others to enjoy the same massive run of Bitcoin. How dead wrong I was. I paid for that experience.

Too often to realize what we have done before after losing some money and even see how these newbies are doing now. We can really picture what we are doing before during our early days in crypto while we still don't have knowledge and experience, and this is quite the same for the newcomer's journey.

And it was very fortunate that despite those hard days that we have in crypto we still have the courage to continue and believe ourselves to make things right. Can't certainly be perfect, but we are trying our best to make it perfect, right? That is why we care to listen to other's advice and correct our mistakes.

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3, 6, and 7 were just me during my noob days. This day, I know better. I suspect that those too may be common with every newbie especially that of buying a crypto because it's cheap. That dealt heavily with me. When I look back now, I smile at my ignorance. I used to think then that every crypto was going to soar like Bitcoin was doing then. That was in 2017 and Bitcoin was having a good time. I felt it was also the right of others to enjoy the same massive run of Bitcoin. How dead wrong I was. I paid for that experience.

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Quote from: Gozie51 on June 05, 2022, 03:58:41 PM

Quote

8. Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

But I don't have a problem with that, putting my money solely to Bitcoin is not wrong because I was sure that my money is safe and certainly it grows rather than splitting it into several altcoins. Well, of course, it was the best option to pick some potential altcoins aside from Bitcoin as it was the most practices here.

Generally, it is all about fund management. Even having multiple assets cannot give us assurance and the future of our investment certainly lies on how we manage them.

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Quote

8. Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

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Quote from: Radja Rimba on June 05, 2022, 02:47:46 PM

Quote from: uchegod-21 on June 05, 2022, 12:44:22 PM

Op, I want to let you understand that there is no rigid rule about plagiarism. I always tell other members of this forum that there is no rigid rule here. This is a forum of liberty just like Bitcoin.

Can you tell me how many rules do you think are not rigid out of the 33 rules listed here??

I think you misunderstood what uchegod is saying. Plagiarism is plagiarism be it a single line copied or a wall of text without reference, the punishment is the same. It’s true that the rules for plagiarism is different for each person and are handled case by case. It’s believed from this thread that moderators are becoming lenient than before to newbies committing plagiarism.

Radja Rimba

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Quote from: uchegod-21 on June 05, 2022, 12:44:22 PM

Op, I want to let you understand that there is no rigid rule about plagiarism. I always tell other members of this forum that there is no rigid rule here. This is a forum of liberty just like Bitcoin.

Can you tell me how many rules do you think are not rigid out of the 33 rules listed here? I don't want you to underestimate the rules because I believe plagiarism will be banned on this forum without even needing a warning. It's great if the OP gets a warning and fixes the error, but what if no one else is willing to warn him and just report his plagiarism to a moderator to get banned?

minime0105

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Quote from: CryptoHeadlineNews on June 05, 2022, 08:54:55 AM

Quote from: GeorgeJohn on June 05, 2022, 04:44:17 AM

Op paraphrase the tense, when looking at what is there you will know that op changes some certain words, and it can be that he used his initiative to write those things since the similarity is not much

That was actually what i did here, because it took me almost a week to compile this piece of thread that you see. I made my research and was able to write it the way i understood it with reference to how it apply to us forum member. And i am the last person that will do copy and paste on this forum, because i know how much the forum frowns at it. And i can never do that. So I render an apology if it likes slightly similar to the listed source. Thanks.🙏🙏
Long live the forum... Long live Bitcoin👍👍

Bringing a good information you saw in the internet to the forum is not a bad idea but not referencing the source of your information is wrong and the forum is against it, you can spend year's gathering useful things that will be of benefit to the fourm but don't forget to what is necessary, good to hear you are aware of the forum rules so try not to go against it. Take corrections and do better.

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Quote from: CryptoHeadlineNews on June 05, 2022, 08:54:55 AM

Quote from: GeorgeJohn on June 05, 2022, 04:44:17 AM

Op paraphrase the tense, when looking at what is there you will know that op changes some certain words, and it can be that he used his initiative to write those things since the similarity is not much

That was actually what i did here, because it took me almost a week to compile this piece of thread that you see. I made my research and was able to write it the way i understood it with reference to how it apply to us forum member. And i am the last person that will do copy and paste on this forum, because i know how much the forum frowns at it. And i can never do that. So i render an apology if it likes slightly similar to the listed source. Thanks.🙏🙏
Long live the forum... Long live Bitcoin👍👍

Op, I want to let you understand that there is no rigid rule about plagiarism. I always tell other members of this forum that there is no rigid rule here. This is a forum of liberty just like Bitcoin.

The information is not that you should not copy from the internet. No man is an island of knowledge and everyone learns from everyone. Go to the internet, copy related things and bring it here. Only what you need to do is to add a link to the source you copied from. I don't think this is so difficult to do.

It is deceitful not to even add a link even if you didn't copy the exact words, but you copied ideas, you can put link and call it related articles (bibliography). It is allowed.

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Quote from: CryptoHeadlineNews on June 05, 2022, 08:54:55 AM

Quote from: GeorgeJohn on June 05, 2022, 04:44:17 AM

Op paraphrase the tense, when looking at what is there you will know that op changes some certain words, and it can be that he used his initiative to write those things since the similarity is not much

That was actually what i did here, because it took me almost a week to compile this piece of thread that you see. I made my research and was able to write it the way i understood it with reference to how it apply to us forum member. And i am the last person that will do copy and paste on this forum, because i know how much the forum frowns at it. And i can never do that. So i render an apology if it likes slightly similar to the listed source. Thanks.🙏🙏
Long live the forum... Long live Bitcoin👍👍

You have been corrected, take this as a warning and make sure to give credit to the original author. One would think by now you would have added the link Lovemayfamilis provided to the OP. While it is possible to forget a source when researching a topic using numerous sites, when issues are brought up to your attention. It is better to make the necessary corrections.
Long live the Queen

CryptoHeadlineNews

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Quote from: GeorgeJohn on June 05, 2022, 04:44:17 AM

Op paraphrase the tense, when looking at what is there you will know that op changes some certain words, and it can be that he used his initiative to write those things since the similarity is not much

That was actually what i did here, because it took me almost a week to compile this piece of thread that you see. I made my research and was able to write it the way i understood it with reference to how it apply to us forum member. And i am the last person that will do copy and paste on this forum, because i know how much the forum frowns at it. And i can never do that. So i render an apology if it likes slightly similar to the listed source. Thanks.🙏🙏
Long live the forum... Long live Bitcoin👍👍

GeorgeJohn

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Quote from: Queentoshi on June 04, 2022, 11:47:13 AM

Seems you have been found to plagiarize, very disappointing OP, I really found your write-up good and was about to applaud you before seeing that you copied content without referencing the source, did you really go through the rules here? Because if you did you should have seen that plagiarism is very prohibited here.

Op paraphrase the tense, when looking at what is there you will know that op changes some certain words, and it can be that he used his initiative to write those things since the similarity is not much, because some people like view and copy, if you said about protocols many newbies don't like to pass through protocols because they are inquisitive to learn

sunsilk

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Do not forget about those people that have taken loans to invest because of some of those mistakes you've listed. They've been hit by the hype so they FOMO and buy those coins that recently got high and they are left at the top as the coin's price start to dump.

There's nothing wrong in investing into one crypto if it's only bitcoin. That's even the better choice for everyone that have made a lot of mistake if they want to keep going on with the market.

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Quote from: CryptoHeadlineNews on June 04, 2022, 05:03:30 AM

8 MISTAKES PEOPLE MAKE WHEN INVESTING IN CRYPTO

1.   Buying high and selling low
2.   Investing money you cannot afford to lose
3.   Investing before researching the coin
4.   Not having a plan
5.   Investing because a coin's worth just went up
6.   Buying a coin just because it's cheap
7.   Following the Current Crypto Hype
8.   Investing in Just One Type of Crypto

I remember my first crypto mistake which I wrote about. I made mistake number 2,3,4,5,6,7. I'm grateful I found this forum and I know better now.

Quote

8. Investing in Just One Type of Crypto

This is another big mistake people make, investing in just one type of coin, because thou it’s not bad to start with one type of coin, but as time goes on, diversify your portfolio, because it’s not good to put all eggs in one basket, as no one knows the next minutes, because as a result of the volatile nature crypto, a coin can be skyrocketing now and in the next one minute crashing.
So that’s how crypto works, and diversification is the best option every crypto holder could do to either stable coin and the rest.

There's is no consensus when it comes to diversification. It is purely based on individual preference. While a long term holder would disagree with you, while a crypto trader will agree. Assuming that I want to try out diversification,how do you advice I go about it.

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Deciding to invest in crypto is in itself a large mistake. Investing in crypto is essentially investing in totally unregulated startups, and even in traditional finance startups are one of the riskiest investments and beginner investors are not advised to invest in them. And what makes crypto worse is that the technology is fundamentally broken, it claims to solve problem that aren't really problems, and it has tremendous downsides that outweigh its supposed benefits.

Bitcoin is the only cryptocurrency that works, all the alternatives are just money-grabs. This should be the common knowledge, not the idea that you can get rich by trading crypto.

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Seems you have been found to plagiarize, very disappointing OP, I really found your write-up good and was about to applaud you before seeing that you copied content without referencing the source, did you really go through the rules here? Because if you did you should have seen that plagiarism is very prohibited here.

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Quote from: CryptoHeadlineNews on June 04, 2022, 05:03:30 AM

4. Not having a plan
How much risk are you willing to accept, How much money do you want to make, When do you plan to take your first profit or cash out completely, and Is the investment short or long term e.t.c.
Because these questions could go a long way and are very important question one need to answer before proceeding a crypto investment, as this serves as a foot print for an immediate action.
So, its always good to plan in all we do and crypto is no exception, as that gives us a clue on what to do next.

https://medium.com/coinmonks/top-7-mistakes-people-make-when-investing-in-crypto-24a4ade5056

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Quote from: CryptoHeadlineNews on June 04, 2022, 05:03:30 AM

2. Investing money you cannot afford to lose

I can not do this with altcoins but I can do it with bitcoin. Although, not a good advice for newbies.

Quote from: CryptoHeadlineNews on June 04, 2022, 05:03:30 AM

8. Investing in Just One Type of Crypto

If the coin is bitcoin, why not? It is good like that. But, if the coin is altcoin, I think people prefer to diversify because some altcoins can fail to rise during bull run.

Quote from: Welsh on June 04, 2022, 06:14:56 AM

If you want to look at it from a different perspective, and when I say this I don't mean to say that this will continue like this, but anyone who invested, and then at least held for 2/3 years profited massively, and not one of them lost money.

It depends. If it is bitcoin, I agree. Bitcoin all-time-high in 2017 was $19650, but its all-time-high in 2021 was $68900. Their were many altcoins in 2017 that has not reach their all-time-high in 2020/2021 bull run. Example are ripple, bitcoin cash, eos, qtum and many others. They may still reach all-time-high but it is getting far unlike bitcoin.

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Quote from: GeorgeJohn on June 04, 2022, 05:16:03 AM

Really if any coin the price quick accelerating many people queue to purchase in order make profit, without putting a consideration factor of making a personal test and examination before enrolling into investment.

Yes.. You have a point there, and that's the reason why i came up with this thread, because i got to notice that the vices of not putting some of these factors into consideration, ha as made most persons lost a future that till date are still struggling to pay the debt. And if only one third of people on this forum could know these factors at their finger tip. The crypto community will be a safr place.

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Well, I have a question --why there are only 8 mistakes you have mentioned? There are too many factors that we should avoid not to commit mistakes upon investing.
If you are not an expert on investing altcoins, dont deal with it. Focus on bitcoin which is a safe investment, another possible mistake is dont store your coin on a centralized exchange or wallet. We have many reports of losing funds because they are newbies and dont know how to protect their coins. Invest in a long-term purpose that gives you a true profit when there is a bullish trend.

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Quote from: CryptoHeadlineNews on June 04, 2022, 05:03:30 AM

8. Investing in Just One Type of Crypto

i will like talk more about the number eight factor you mentioned, this is an exceptional, investing on only one type of cryptocurrency should not be a mistake only if it's on "bitcoin" and any other crypto posses more risk than as expected and investing more on them is like increasing the risk level the more in altcoins, if we are to advise any beginner to have a start on cryptocurrency then bitcoin is the only coin that should be a reference point, bitcoin is the only cryptocurrency that is worth deserving taking a risk else investing on other cryptocurrencies is a risk taken that does not really worth it and have higher chances of loosing than making gain out of it

Topic: 8 Mistake People Make When Investing In Crypto - page 2. (Read 599 times)