Topic: Avoid these crypto investment mistakes (Read 402 times)

the thing with altcoin be say you no go even de sure of the one when you go invest in when go give you better profit. E de always de like say you de do trial and error to see which one go even make sense. The same way when altcoin de volatile na the same way na him Bitcoin take de volatile but the issue with altcoins be say you need first of all identify the altcoin when de a bit stanble in the positive sense when you go buy and even as you take buy am, you need also know the highest number of months or years when you go hold am before you sell am or else you continue holding a coin that has already faded away. The mistake some people de make be say them de buy am Come hold am like the same way them de hold bitcoin not considering that most of these altcoin don't have what it takes to last and continue gaining value as much as Bitcoin does.

One thing about this investment matter be say, people de when de invest for altcoin though on a short term bases still de make profit from am while others de when no know what it takes to be profitable at it. If you know wetin you de do and you don strategize how you wan take go about your investment well, you fit take certain risk and try out some investment option check wether e go favour you or not. After all, life and anything investment na risk but the allocation when you supposed put into that kind thing supposed de very small so if anything goes wrong, you're certain you can still surf through that phase at ease.

My mentor once told me Altcoin is crypto gambling and I didn't understand that until recently when I see how unstable they can be, but with Bitcoin it's always been very different such that literally you don't have to really deal with all those fluctuations, you just have to be patient and have a mindset of the long term except you want to trade basically else, it's always best to just invest in Bitcoin they for quick swaps and taking advantage of volatility you can look at Altcoins but don't see it to be for an investment.

You dey very correct, e no really make sense that we invest all our money in one assets but to me this advice is for those people wey dey invest in alt or shit coin because I don't know how someone will invest in Bitcoin for a long time complain say di price affect their money. In my opinion of view, if we invest in Bitcoin and have some extra money to invest, we should at least try other valuable assets wey go give us profit on time.

However, proper research dey very important because even person wey dey claim say him sabi Bitcoin and get the knowledge very well still dey learn, normally e dey happen as you talk am, there's some people who are lazy to do research and get more information, the motivation wey we get from someone that guide us from the beginning is not going to help us in everything, so we need to do more research regarding the asset we want to hold.

Diversification na something wey we no go fit overemphasize for when it come to investments because it dey save person on raining days. Na just as the proverb say rat way get plenty hole no dey die quick, wen one hole close na to use the another survive.

But while diversifying we get take time the do research on where and what we are diversifying out funds into, because it get certain diversification wey go lead to the investor downfall. In other words, at times it better to stay with one investment wey you dey sure of bringing you profit  than scattering your funds into different channels of investments wey no com later work. For example, it better to leave all ur funds inside bitcoin than to say you wan remove some go put for some shit altcoins wey you no even dey sure of it future

If the only digital assets we are investing is Bitcoin it will be better focusing only on Bitcoin because considering the nature of crypto market and what altcoins are capable of, diversifying into altcoins can be very risky, so if perhaps Bitcoin alone is not good enough for the investor, I would suggest going for more physical investment because e no go make sense way be say person go use money way suppose give am better thing for physical business carry go waste for altcoins, although e get some better altcoins way go fit pay better money in a short time but how to locate am na in be the problem if not them plenty for market because anytime way I check market I they always see coins way done make 30% move within 24 hours but the thing be say the risky plenty ooh.

Normally, the mistakes wey investors dey do nah because of them no dey make good research to back up their investments plans. Information nah something wey really dey important for the crypto market, mostly if the investor won do lump sum, but if nah DCA way the investor won use invest in crypto (Bitcoin) all em need nah just the capital and a good place to safely keep em keys to protect em wallet, them the rest things wm need nah to just dey buy bitcoin consistently and make em no give up to dey accumulate Bitcoin.
However, outside DCA strategy, the rest methods to use invest on crypto needs informations, mostly if the investor they plan to buy bitcoin during the DIP.

This na the major thing wey you go consider most when investing into crypto, the crypto category broad in so many ways wey be say all of them get volume and strength to make out profit. Out of many projects to be diversified are the Blockchain coins.

Blockchain coins serves as Oga wey be say other coins build under them, na them be the backbone of other coins, because of them other coins exist, once them rise, other coins follow, example of these coins na BNB, Ethereum, TON, Solana, Aptos, Atom, Avalanche and more.

And again, each of these Blockchain based coins get Dex, meme, DeFi, metaverse, infrastructure, web3 and more. So wetin you go do na to buy each leading coins under those Blockchain coins as I list so. For example, you buy Bong as the leading meme coins under Solana Blockchain, JOE as the leading Dex on avalanche Blockchain, OSMO as the leading Dex on Atom Blockchain, and so on. With this procedure, you go diversify your portfolio and it's worth doing this.

Yeah diversification is really really important when it comes to investment but the matter sef no be to diversify and to actually know the right coins to put hand because e no dey hard to make mistake buy wrong especially when you no research and sometimes the major reason why this dey happen is because maybe proper research sef no really dey that's why.

A lot of persons sees these  as not important which they end up to be a victim, when investing you need to avoid mistake like,

INCORRECT WALLET ADDRESS: You must be sure and use your correct wallet address mainly when spelling to input it, to avoid undenied access to your account or loss of funds.

COMPLEX TRADING STRATEGY: Avoid involving yourself in different methods of trading, just choose the strategy you will be able to use that is being comfortable with,and it should be only that one instead of moving from one to the other, it will affect your investment and it shows you don't know what you are doing or not being serious with your investment .

IGNORING MARKET TREND: An Investor should be able to read and understand the trend in the market because it guides you through a successful investment instead of avoiding it .

NOT BEING ABLE TO IDENTIFY A GOOD INVESTMENT: That a particular investment is leading,or is having troops of investors investing into it might not be genuine,for not all that glitters is gold or that flourishes last longer or forever therefore accepting everything you read as real and true can be dangerous.

Normal E good make we diversify our portfolio as you talk,  but before that we really need to accumulate alot of bitcoin for our portfolio before we go start to diversify.
And meanwhile when you dey talk About diversification I hope no be shitcoin you dey think of? Diversification fit be investing in real estate, buying of land or building of house for rentage, if your money reach to build. Lastly you fit open a lucrative business wey fit they yeild you better profit to keep up your bitcoin accumulation since that one just be like a long term subscription.

Normal bitcoin investment no be for short time profit. When people dey talk about "market timing", to me E just be like na trading the person dey talk about. No be say trading bad Sha but when anybody they include timing for a long term HODLing, I no dey like am because both of them na two different thing. When person dey talk about HODLing, make E no say E no dey reason about time because you must invest without looking the market up and down movement by investing through DCA. Where person fit consider timing small na just buying dip as the second strategy. otherwise apart from that timing market na the term used by traders.

Normally E good to do proper research because the cryptocurrency ecosystem no be where to do any how. If you do anyhow without DYOR, you go surely chop breakfast Las Las.

Honestly, we all have scars, but the difference between us and others is that we moved on, continued searching, remained optimistic and here we are in the warm, reassuring arms of Bitcoin. The ones that let their fears overcome them are the main losers cos they were afraid to try again, they quit and ended their critical journey with increased pessimism.

Shit coins investment, if not properly checked, can deal huge  uncontrolled blows to your finances, emotions and what have you. Bitcoin investment wields far greater potential than these shit coins and should be given preferential consideration when investment are being considered

Bro wetin u yarn no bad oo, but diversification and undiversification dem get their advantages and disadvantages.  Diversification for one side dey risky and e go fit make other assets  no do well and u fit dey spend ur profits from de one wey dey bring profit to another, of which wey go fit result to loss or u no go benefit from de one wey dey profit u. De good thing about diversification the plan fit help protect u from loss incase one side no dey do well de other side go package u and u fit dey mention de other till that one sef go begin bring profit.

Anybody wey invest, especially crypto (bitcoin) need adequate knowledge to dey move and grow hin investment. And how u go take get knowledge na to dey do research to balance and set ur investment, put am for de right track so dat u go reap de benefit. Make u get am for mind say no be every crypto dem dey put money some na loss u go fall enter if u no do research well well. De market sometime things dey change, different things dey happen, if u no do research time fit come when things go tight or dey difficult but dat knowledge u get nai go make u pass dat difficult situation for  de market.

Base on the mark altcoins have left back in the days I was actually dealing in then have learnt my lesson that altcoins is like waste of time stuff, because most time they will dip without thinking of rising back leaving some folks reckt. That's why always take your time research thoroughly, to avoid investing in the wrong project. That's why most people are scared to invest in cryptocurrency because of the marks shitcoins has left In them.

Ever since have started my bitcoin journey things has been moving smoothly all thanks to God have been able to see evidence of my hard work ( accumulating) paying off each day , because am still bullish in my bitcoin holding despite the recent dip , that's why I keep pushing by accumulating more and more.

You are absolutely right bitcoin can not be compared with alt cause there is a very big difference between them and Bitcoin has proven itself to be the best coin to ever exist maybe let just say for now because we can't really tell what tomorrow will bring to us but Bitcoin being the best of all time doesn't mean others like alt, is a waste of time and energy to invest in. if I am not mistaking most of the people we see today as major investors is through alt and some other shitcoin  you will also agree with me that investors who hold their Bitcoin for years are very few most people don't have that patient that's why, you see them investing in alt and  memecoin though alt and memecoin have higher risk but you can't justify them that way is wrong. No investment is a waste of time and energy unless we have seen the outcome cause you can't really tell what will happen perhaps, we are just like Hunter who doesn't know what meat we will kill.

You are totally correct and this kind of mistake makes most investors to later regret their actions of solely believe in Altcoins even knowing the high risk of losing more funds even though it also increase in price at times but solely relying on Altcoins is not an option but for me I rather invest in Bitcoin than Altcoins because it's a waste of time and energy although Bitcoin also fluctuates at times but can't be compare to Altcoins and it's more reliable. Although the choices is really based on individuals but no matter any one chooses, let them be aware about the risks involved.

Wetin you mean by other reasonable assets? Hope say no be diversification in other crypto assets you mean by that? Dis wan no go be better advise if na wetin you mean be dat because market no go play your way if na wetin you wan venture your money into only. Diversifying of portfolio fit come through investing in other assets out of the crypto world that are reliable and trustworthy. E no mean say na only crypto you go depend on to make you rich or achieve your targeted investment. Your major mistake in dis aspect na him be say make you put money for any coin wey you come across and hoping say dem go do you well after some time. If no be bitcoin, just know say you dey gamble with your money and wetin you expect fit no be wetin you go take your eyes see.

Well all the listed above are actually correct but some of these mistakes are inevitable as an investor. Especially those new to the market they get scared easily and barely take their time to make good plans and properly research what they are about to invest on. I won't actually say that most of us don't sell Bitcoins even during times like this when we are expecting the bull. No one is stoping you from selling some few coins. Just make sure you aren't wasting your coins and also have some stacked up in a safe wallet. Though you may choose to diversify your portfolio but it's not necessary if you don't know how to. So you don't end up putting your funds in the wrong basket. A basket that might bear rotten eggs. Just be wise enough to do research where you want to diversify your funds into.

Op all the three points you give e dey correct but the number one is not compulsory for all the bitcoiners because for one to diversify his investment to another or other coins na choice and not mandatory. But if the investors is willing to invest for another project then he can and he has to know small things about the project he will investing on. At least know the community support of the project and the users of the project.

Knowing the time to buy is very much important in the investment of bitcoin or any other project. My personal experience is that I didn't make any research on Ethereum before I invest in it so it affects my investment plan. I didn't know that the project has a network congestion problem and I invest in it and I am sick there till further notice.

Having one source of income as a bitcoiners, is a mistake some users use to make in the crypto investment because it will make them to remain low in profits making, and they will not make progress like other users who have different sources of income.  

When you have different sources of income, it will make you to hodl your coins to the years you want to hodl before you can sell because you have other sources of income, which you can use to sustain yourself till the bull run occur to accumulate profits.

Don't be lazy to carry out your research, which is very important to investors, when you carry out your research, it opens your eyes to see some of the mistakes others people use to make when buying or selling their coins in the wrong season.

You are absolutely right to an extent but un-diversified portfolio to me it's not something one ought to do everytime because I have seen a situation where someone wanted to invest in one coin but he later split the money and invest in some others coins so at the end of the day the initial coin he wanted to invest in skyrocket and the other ones dropped to nothing and he starting regretting why he didn't invest everything in that first coin but assuming the initial coin didn't well and the others skyrocket it would've been a wise choice for him so in summary, it doesn't really matter if we diversify or not rather hope/pray for the coin you invest in to do well.

Timing, this is mostly for traders I guess and sometimes we pull out in market not because of wrong Timing but because of pressing issues or challenges we encounter during the day and some people pull out in market even when they are on loss because how pressing the issue is.

Diversification I no condemn but I will just point out one thing out when you invest a  capital in full and when you divide it if you use simple interest in maths you will find out that the interest it generate with differs and you will loss more than when in bunk been invested. Diversification is only and basically for those who may show interest to such because for me I don't see it as good one it increase your think over various issue of losses and reduces your benefits why is invested in full. As long as shiltcoin and some altcoin is concerned one don't need to stressed itself because it's has been tested and seeing the capacity as many can't withstand the market forces.

All This your points dey very much valid but the problem na to keep to them, e go surprise you say many people fit know all these things wey u mentioned but na to keep to am be dia wahala because them no get the discipline to keep to am like d one u talk about to sell asset quick, some people dem dey do base on dem no get patience while the others dey do am based on hunger, dem fit broke now, dem go rush go sell dia assets make dem fit survive so e good say as you dey invest get another thing wey dey give you money wey you go dey use hold your side if not you go still see say you no fit jeep to all dis rules dem even if you Sabi dem


If you get something else wey u dey do e go help you get d enablement to diversify your portfolio and also to fit hold your assets for long time make e mature before you go come go sell am but if you no get wetin u dey do and all ur money na investment den e go hard to fit maintain that investment.

Op, wisdom also tell us say diversifying your funds na one of the way to get yourself distracted with too many coins wey go fit still bring loss no matter the research wey you do. I know of many people wey just focus on only one coin after them don find out say that coin get better potential for life, them go just use all their funds for investment take shook body inside the coin, and then dey cash out real time. Since I start my Bitcoin holding untill now, I know how much profit wey I don get, if to say I diversify e get as e for be, because no coin don make that same bull wey Bitcoin give.

You don try like this but  make i tell you one thing, having many assets around does not show that you have secured your investment rather you have created more holes to quickly sink down your hand earn money so easily. So to me having only one better investment wey go yield you better profits is more better than splitting your investment across shitcoin that won't add any reason value to you than emptying your funds.
For references; you can buy and hold bitcoin at least it has been proven for decades now and have been gaining more attention across the globe than you saying of digging holes to go sink your money.

Making research is the problem most people have. Crypto are taken as side hustle by most people. So we mainly engage more on our main job  making it impossible for research to be made. Some are even lazy for that. All they want is already made job to tap from. In any business one want to engage in, it's better you make good research on them so as not to invest ones capital into a wrong ideas.

For peso wey put all eggs for one basket wey be bitcoin no do bad thing nah cos having Bitcoin as the only investment made will be regarded as a good investment strategy because Bitcoin has the tendency to give a huge profits in the long run compare with other altcoins.

The reason why most investors they have a diversified investment na because of profits, like if this coin no give much profits, the other ones go give. No matter how the market boom rich, na bitcoin be the main coin wey the control other altcoins cos wherever em go for price(increase or decrease) all the altcoins go follow am

This one wey you dey talk na wetin dem dey call selling early and I don't know if we go also call am as mistake but for me I no go regard am as mistake oo because at least the person wey sell at a price higher than the price wey him buy the coin don also make profit no matter how much profit wey him make so long as him get ROI from the buying price. So therefore, if you sell early for me no be mistake. It means either the person get need for money or the person dey feel say price go drop for correction and so dem want sell collect the initial profit and then look for another DCA. I don see person wey don dey lucky to dey accumulate coins base on DCA . But if person sell and make profit, that one no be mistake even say him sell early and the purpose fit be for DCA but if him no see lower price to enter again, e no still mean say na mistake but the person no maximize him profit.

One thing I know for sure before engaging in a crypto trading or investment you need to have the basic foundation about the smart money and not an inform person in the crypto system.you need to have done your visibility studies to know how it work and done your background check and research and your should know making mistakes help us to learn but there are some mistakes that cost a lot and we can loss a lot and not been able to recover.so Atleast let have the the basic knowledge before engaging in anything crypto trading or investing.we have to be crucial about that because of how the market system work.

To me the first mistake to be considered before venturing in any of the coins is
1, Coin research; Before engaging on any of the coins, you must research to personally understand the potentials of the coins and also the coins popularity adoptions so that you don't fall into trend and dump coins. Most coins may have p profitable potentials that may last in just a short while and you could be unlucky to bump into the coin at the late time when the coin is already flopping.
Some coins are only hyped in disguised but of zero values.

2, Lack of disciplines; Lot of investors are fond of spending off their profits ignorantly believing that they've already secured their capital so in no case can they count lost in their investments. They're envious and wondering how others are progressing better than them meanwhile they fails to understand that their investment strategies differs. Instead of accumulating more to your asset holding from the incomes they've made, they chooses to withdraw it off with the tasty of being in need.
So likely they could shutdown their investment due to lack of orientations and hastening to make external expenditures from their investments which doesn't have the potentials of bringing more incomes. Just at any little cause they extracts from their incomes which could lead to investment breakdown.

3; Diversification of investment; Some Investors are much comfortable leaning on just one source of income simply because it has the potential capacities of yielding to them incomes meanwhile they ignorant the other side of it that sometimes the market may not be fairing favourable well and should be given some periods of time to regain its value again.

Diversification is very important for ones investment life whether na cryptocurrencies or any other investment diversification is very important but it's only required when one already have enough investment, like for example; you cannot have a hundred dollars investment in bitcoin and be thinking of diversion because it's not yet worth to diversify but when start having life thousands of dollars in an investment then you can start think of investing in other areas of business or other cryptocurrency.

Since market time has been a big issue in the crypto space, the investment strategies has been developed to control our investments market timing. If you DCA, Lump Sum or buy the dips you will reduce the rate at which you worry for market timing.

About diversification of investment, be aware not to over diversify your investment, as you could end up splitting allocations that could go into Bitcoin with too many investments, some of them which may be failed enterprises, and you end up having smaller Bitcoin holdings than you should. Diversification is key, just like the saying goes, not to put your eggs in one basket, but if the basket is Bitcoin, oga, put am. 😂
You need to know what it is that you're investing in, and it's authenticity and reliability.

One thing I'd like to add is that before going into Bitcoin, know that you need a steady reliable source of income to be able to fund your investment with, so that you will have no need to touch your coins before the allotted time.
And if you want the best of Bitcoin, it goes with long term investment, buying and accumulating, rather than trading.

I cannot counter all what you have listed,it is based on what you believe, nice one tho, but let me say something. Diversification is not always a necessity, their are people who wants nothing to do with Altcoins, like they do not give a fuck if the price of this Altcoins skyrocket so they have nothing to diversify, they believe solely in Bitcoin. We consider the implementation of diversifying our investment when we dealing mostly with lots of Altcoins, since there is high risk of losing funds. It Is considered wise for every investors to hold good portion of Bitcoin before thinking about diversification, we diversify our Altcoins investment not on Bitcoin.

No be say e no good to diversify your portfolio, but doing that no mean say you go achieve wetin you want without not investing in the right coins wey deserve the diversification. If you wan make your investment grow through diversification, you suppose research on other coins wey you wan invest into and make e no just be anyhow coin. E better to stick to one coin to earn some amount of profit than diversifying and ending up not making any profit.


To be honest, no body fit time the market and get it at their finger tip 100%. You just have to watch out for the right time to invest, looking and following the market trend at that time before taking an investment decision. You cannot always get it right, that is why e better make you use strategy like DCA in order to get a better result at the end of the day by buying timely.


Research dey very good for investment and e dey help to decide the right coin wey you suppose invest on before taking that step. Research gives you an insight on how the coin you’re trying to invest in is qualitative for the long or short time. If a project is not clear and convincing enough to put money into, no talk say you wan try your luck make you come lose out on everything including your capital. It it’s not clear, don’t invest.

Marvelockg have said everything I will actually like to speak about.
To be frank investing only on bitcoin is better than any form of diversifying investment in bitcoin, don't listen those who speak about diversifying portfolio in cryptocurrency especially when you are new to crypto space because even those who are experienced in the Crypto space still suffer from this when they invest on shit and scam projects, just stick with bitcoin.

Actually no Matter if you're investing on bitcoin or altcoins you need research and that's why you see advices here on BTT for reasons to do your own research DYOR.

Just imagine say person ask u why u dey invest in bitcoin but your only reply na bcos person tell you about am, if u put this person wey ask you this question for high regard even above the person wey make you invest in bitcoin and he/she cor say make you nor invest in bitcoin again say you go lost your money, you go likely stop your bitcoin  investment bcos you nor get actual knowledge to defend your bitcoin investment.

Another thing be say you need continous research to tel protect your coins.

Diversification : My brother I get ur point clearly but in the crypto space, diversifying your investment no make sense, you know why? Because their is no substitute to Bitcoin, almost all those alt and shit coin out their na scam, and if anything happens to Bitcoin, e go affect all other coin.

Timing the market : bro, you no need to time the market as you are a long term holder of Bitcoin, because as long as you dy accumulate am through the DCA method, bro, you go always dey at a profit if you are a long term holder, because the current market value of Bitcoin today is no where near it potential price in the future, just think of it limited supply, and you go understand wetin I dy talk.

Inadequate research : bro, as long as the crypto industry is concerned, Bitcoin remains the most trusted and reliable asset to invest in, I no think say you need to do any research, but if you must do any research, na to just gain more knowledge about it, nothing more, I believe say the research you dy talk about na for most of this alt and shit coin, and to tell you the truth, you will eventually get burn by investing in any of this coin, aside Bitcoin, so my brother, think wisely and act smart.

if you diversify your investment wrongly, you might end up investing into different project that have failed before arrival. For me, it's best to stick to probably a single investment option which is bitcoin if you're considering investjng in the long run. At the moment, thier is no indication that suggest that bitcoin will go down and never come up again, from it current trend and with the increasing level of adoption, it's clear that if you choose to only invest in Bitcoin, it's not same as putting all your eggs in one basket and it will even help you to stack up more Bitcoin if you put all your investible resource into it rather than shifting part of them into some altcoins and meme coin that might end up crashing in no time.

I'm not unaware about how some of this altcoins do double up to 100% and some persons have been lucky to benefit from them but that's always good for a temporary point of view and wouldn't work well if you're considering investing into different crypto asset for the long run.

maybe this is coming from a trading point of view and if that's the case, I understand how important it is to analyse when best to buy and to know the right time to sell but if you're considering building a strong portfolio, then you shouldn't be too fucosed on over timing the market to know when is the best time to buy. It will do one of this two things; it's either it will slow than the quantity of your stack or you will have to keep waiting for the price to dip to a convenient entry point for you only to discover that the Bitcoin price is only going all way up.


doing the needed research puts you in a good position where you don't get moved about what people are saying because you already have your fact all sorted out and it gives you the emotional intelligence to hold up your crypto asset for long so yeah, if you miss out on doing the right research, you might have some issues along your investment journey.

Hello fam, please read closely e get one wise quote, way I like so much " a stitch in time saves nine" for this investment game no body know everything all at once , we are all Learners , and trust me, we go continue to dey learn and also dey adapt as long as say na this investment game. Normally e get some mistakes way we dey make as investors normally , nine make I say make I bring them to the table so we go fit educate ourselves  and also improve our investment skills. The first most common investment  mistake way most of us dey make na

•un-diversified portfolio:  this one just dey like putting all your eggs in 😂 one basket. Which means say anything way sup for that basket go affect all your eggs. So make we try to spread our investment across other reasonable assets.  then another major investment mistake na

 • timing the market: This one done really affect many people, way be say them no dey fit hold investment or wait for the right time to invest. This matter way I dey talk so , done make some people sell some kind assets way them suppose hold for maturity too early, and also make some people go buy too early, so make we just allow the market do em thing, because these big moves way we dey find , to be honest, e dey take time.
And then the last major mistake na

•In-adequate research: This one na to dey make investment decisions without proper research and strategy, one thing we suppose know na say we need to understand how this thing works, no be magic, we need to go into comprehensive research to get the best out of our investments.