Topic: How to avoid future losses in crypto - page 2. (Read 550 times)

Some of your points are not completely correct, others are not well portrayed.

If you are speaking about avoiding losses in crypto and you fail to add the aspect of personal security, the job is not complete. Avoiding losses of your crypto, also entails developing a consciousness that as you can face losses online, you can also face losses from offline elements. You must try to identify and avoid anything that can lead to loss of your crypto physically. Be careful with people you tell about your crypto investments, and be careful with the device that you store your crypto in.

Actually if you are talking about diversification in your portfolio in crypto market then I would disagree with you on this point because investing in shitcoins just to diversify your portfolio is not at all good option here.Moreover if you are saying assets then as @bitmover said above it should be of different markets like stocks, bonds,crypto but here what other long potential coins you have in mind else then bitcoin?

These threads try to educate newbies with all those points copied from other sources and then converted into long wall of text with highlighting points but fail to make the exact point.This section is more of providing some useful information for members and think this thread is more suitable in trading discussion if you are giving such advice not here.

But for me bitcoin is the only potential coin here with long term holding benefits as you state but suppose I put my money of $1000 into 5 different coins and then a crash comes you know the invested amount in 4 coins other then bitcoin will be gone and the evidence can be found that top -10 on CMC have always shifted but BTC remain the king so why spread your eggs in different basket when you can have them all in one without being broken? You just need to understand bitcoin and true means of decentralisation and you will never come up with these points.

If we are to check and explain deeply the losses in cryptocurrency investment are not actually caused by cryptocurrency because the main foundation is caused by a lack of knowledge, and impatience because if choose the right investment ^BTC the loss is only temporary. Meanwhile, in another word, I don't consider it to be lost since the market always makes a comeback.

Mining is totally different feild in Cryptocurrency which need huge investment to install, which is seem like not affordable for any small invester. Mostly big companies afford it and they install mining plant on big scale.
While trading is affordable for any small invester, so in order to avoid loses use proper buying streategy with DCA. While other best option is to buy bitcoin and hold it for a long term which will avoid your loses too but give you profit also.

Don’t put yourself under much pressure to get merits. Keep it simple and concise and the merits will come. There are those who reward lengthy posts with merits, I however do not like these wall of text with no new information. All these are repetitions of what has been discussed here countless times. I’m surprised there are more than three url links to different articles. Well it’s better to add the sources than pass it off as your own. I wonder how much of this wall of text was your own opinion.

In some countries electricity is dirt cheap and life is much cheaper as in developed countries.

Personal experiences cannot be translated into all people.

This is very important point in cryptocurrency industry, always invest what you can afford to lose due to some risk that cryptocurrency involve. So don't be blind by aim of becoming richest and invested all life savings.
As for me long term crypto investment is the best strategy   due to halving block period that do occur very four according to history of Bitcoin,and I also found it as stress reduce in crypto compare to the short term trading which involves some analysis.but the only thing long term investment need is patient.

If seriously you want to enjoy crypto investment you need get some savings apart from what you have invested to no course any distraction to your investments, especially like selling some of your coins when you are in need of money and is period of bear market, that action will make loss and start panicking which may lead someone to any action.

Yes stop doing it, which means stop losing. Great advice, I need to write this one up in my notebook of golden thoughts


Diversification sucks in crypto because you're still in riding the same train just moving from the first car into the second or third. The ones that are closer to the end can detach but the train will keep going. Bitcoin is the locomotive, it can't detach, but all the rest can get left behind. I hope you understood the analogy. Stay with the locomotive guys!

How did you know this? If you know what miners are going through you might run away from crypto mining.

They make reasonable profits only in a bull market, the mining equipment can spoil at anytime even if they are well ventilated, and it takes years to make back your return of investment from mining, some miners are mining at lose hoping that one day the coins they make will surge in price..

Can you do all this? They go through a lot, some miners have to hold for more than two years before they can sell, you have no idea bro.

I don't agree if you say mining is the only way not to lose.
Even in mining there will be a risk of loss if you can't calculate it properly.
In mining we also have to have good equipment and it's not cheap.
Not to mention the consumption of electricity that we will spend on mining.
As well as many other variables that must be considered in mining.
Every way to earn in crypto certainly has its own risks, friends.

If you are buying Bitcoin, you are buying a baseline performance of the whole crypto market, because altcoins always follow big Bitcoin movements. Nothing bad is going to happen if you only stick to Bitcoin, because the chances of any other coin overtaking it as the leader are slim.

But if you're buying any altcoin, you need to be ready to accept the loss, because altcoins constantly die. You never know for how long they will last, they could live for years or just a few months or weeks. But the end tends to be always the same.

You are so wrong about this, when it comes to making money the risk of losing money will always be present, I used to be a Eth miner before the merge months back, I have lose money a few times through dead components, either Graphic cards or Motherboard, they just stopped working.

Yes sure there is mining equipment, All investments cost money and a total loss is not 100% excluded. You can buy BTC or any other coin when they dip still there is a risk that those dip even more. In mining you get your money over time, at least so it goes since BTC started.


A 60 year old trader in its 1rst post has less credibility, the biggest issue in any given forum are its members, many still live around 1800.

I honestly do not understand why there are too many newbies lecturing and posting advice about bitcoin, crypto, investing, and trading. We have plenty of it already. I think you guys can earn better merits if you stay true to yourself. Some newbies are even given merits by asking questions, especially on the technical side which is actually cool and more informative to other newbies since good standing and experienced people here will be the ones giving answers.

I don't like this kind of writing, it seems to me forced with the reason to collect some merit. also, what is the purpose of just copying from other pages?
For example, which cryptocurrencies have long-term potential (except Bitcoin)? therefore, controversial advice for beginners, which they may not even understand.


just a few lines later, you advise investing in several different assets, without seeing a meaningful explanation of what quality long-term options are and how to recognize them


??
how the hell can a newbie who came to the help section know when it's a dip market, even the most experienced users cannot claim that with certainty.

This advice goes against the topic of your thread as all this type of so called "diversification" will ensure future losses. Stick to bitcoin.


There's no much sense it what you wrote. You do realize that mining equipment costs money, and so do the electricity needed to run mining machines?

The simplest way to avoid future losses in crypto - stop doing it.  
Just kidding here  
Just don't look at crypto as your next way to 'get rich overnight' because that will not happen now, those days will not be back easily. However, there are still some multi-X coins that can give you 10 or 100 or 500x, but not like btc that gave its early investors over 600,000x profits.
Diversification is also good, but times are tough and you can only let your money work when there are opportunities for your money to increase in value after investing it in different ways. Do not solely depend on crypto only, that was the worst mistake I did once and did not do any IRL job for few years, though I lost too much including my time (lost a lot of time searching for opportunities in crypto while I'd have utilised it to do a job or bring up a startup) and opportunities in crypto (if I'd have saved money for these times when crypto is down, that money would be useful in investing in tough times, because we all know that all these coins will increase in value today or tomorrow).

In crypto, this is not diversification.

All cryptocurrencies basically just follow bitcoin price with more volatility.

Just take  a look at this old post of mine:



A true diversified portfolio has many different classes of assets, such as ETF, Bonds, stocks, REITS, Bitcoin, Metals etc, in different geographic locations if possible (ETF from US and Europe, for example)

Mining is the only way to avoid future loses.
When buying there is always thew risk, that is true for most assets.

Although all points have been discussed on the forum before but nonetheless thanks for the reminder.
For emergency fund I always advice new investors to have some savings in fiat, even if we detest it, we can't do away with it just yet.
Concerning diversifing into other coins I stick to bitcoin because to me other coins just follow its trend both in bearish and bullish period. Although there are other coins I might consider worth investing but they are too centralised for my liken (most especially the top 2 altcoins;ETH and  Bnb