When still a newbie of course it's natural for us to make mistakes, when I joined the bounty a few years ago I used a wallet from an exchange so I didn't get paid, this is a mistake that often happens and I hope for newbies the first thing we have to understand is about the wallet .
from my perspective, some people who is called newbies here are directed as newbie due to they just created bitcointalk account recently, but when you talk of any bitcoin related issues they hundred percent perfect than some users who just come here without passions but only to earn bitcoin. Some of the newbies already knows bitcoin from the beginning before joining here. So in summary some can educate us about wallet technology but some of them claims to be novice of cryptocurrency in order to earn merit. 
Topic: Mistake I made till now investing on crypto projects. (Read 622 times)
But the valuable lesson in investing is to always invest something you can afford to lose because then you will never feel like you're really losing when reality doesn't match your expectations.
As often happens, newbies buy altcoins to get rich quick, but after they lose their money on altcoins, they focus their attention on bitcoin and then their path as investors begins. The first thing I learned when I came into the world of cryptocurrencies is that cryptocurrencies are high-risk investments, and therefore it is very important to choose the most reliable coins, since the entire sector is already considered very risky for your funds.
- Fake exchange listing promises: This project was introduced by one of my friends who was also got scammed by seeing their exchange listing documents. They use fake documents to attract investors.
But the valuable lesson in investing is to always invest something you can afford to lose because then you will never feel like you're really losing when reality doesn't match your expectations.
As often happens, newbies buy altcoins to get rich quick, but after they lose their money on altcoins, they focus their attention on bitcoin and then their path as investors begins. The first thing I learned when I came into the world of cryptocurrencies is that cryptocurrencies are high-risk investments, and therefore it is very important to choose the most reliable coins, since the entire sector is already considered very risky for your funds. My career in the crypto sector is not very long. I do have some experience with forex markets but when I came to the crypto market everything was different except price action charts. Very soon I realized that investing in crypto and making financial gain requires extensive knowledge about the crypto space and the ability to post mortem a crypto project to know every detail about it.
The experience could be different from person to person but I am going to mention some mistakes that I made while investing in crypto which influence the final result of my investment. I will not mention the names of those projects for not to demerit them because I am responsible for many of those mistakes.
These are some list of mistakes that I made till now and it seems I made every kind of mistake an investor possibly can. But I think every great success has a long list of failures. So I hope some new members will find some points useful and a real-time experience is always the best place for knowledge.
The purpose of the post is to share experience only so there could be exceptions in the same circumstance for another project.
very important points, one should try to take all this into consideration when you want to invest in cryptocurrency. It might seem easy but there are lots of factors that will bring you down when neglect them. The experience could be different from person to person but I am going to mention some mistakes that I made while investing in crypto which influence the final result of my investment. I will not mention the names of those projects for not to demerit them because I am responsible for many of those mistakes.
- Product was not ready: That project looks promising but their product was still in development mode. I made a huge sum of investment but the price of the token keeps falling because no utility exists by then. Lose 90% of my portfolio.
- Lesson: Do not invest in a token that doesn't have any utility or whose product is not ready.
- Product was ready but token doesn't have utility: Another project where I am still 50% down. This project is already live and they have a big community but right now their token doesn't have any proper utility so investors keep selling their unlocked token.
- Lesson: Wait for the team to implement any proper utility so that market has demand for that token.
- Fake exchange listing promises: This project was introduced by one of my friends who was also got scammed by seeing their exchange listing documents. They use fake documents to attract investors.
- Lesson: Do not fall for any project who shows their exchange listing agreements because this data is not disclosed in public. Genuine projects don't do that.
- Over expected price: In another project my expected price was too high. Maybe I was eager to recover my previous loss so I misjudge the price.
- Lesson: Do not think your project will be another Shiba Inu. Always think about a reasonable price.
- Didn't booked profit: Everything was perfect and well-timed. I was 60% up but I become greedy by seeing other people's comments. So I didn't booked profit and that token price dipped 1000% from my entry.
- Lesson: Always book profit no matter how strong the project is. Once your initial investment is out then play with your profits.
- Influenced by funds: Project shows great promises and my judgment about the expected price was reasonable. Price did go above my expected level but I was already out with a very small profit. I was afraid by seeing some community members saying negative feedback about the project.
- Lesson: Do not be influenced by some random community member. Sometimes they create fud to accumulate more tokens from panic sellers.
- Didn't care about team members: Invested in a project without properly checking details about team members. Later found out that all the admin id belonging to the owner and team members are fake.
- Lesson: A strong team is very important for a project's success. Check for the overall experience of the team members of a project.
- Too much trust in team members: Another project which I still think is a unique idea but failed to execute its plan. Most of their development dateline was delayed so the price did fluctuate.
- Lesson: We should trust the team behind the project but better be ready for the worst.
- Small community: Sometimes a project idea could be great but without community support, it's a failure.
These are some list of mistakes that I made till now and it seems I made every kind of mistake an investor possibly can. But I think every great success has a long list of failures. So I hope some new members will find some points useful and a real-time experience is always the best place for knowledge.
The purpose of the post is to share experience only so there could be exceptions in the same circumstance for another project.
This is determined by the developer's intelligence and investment strategy, which can be short, medium, or long-term. So, before making an investment, one must determine whether it is a short-term, medium-term, or long-term investment. If you are looking for a short to medium term investment, avoid this type of investment because you may find yourself in a difficult situation if you invest in projects where the utility or product has not yet been implemented.
Very informative post a newcomer getting some new messages from your post.just want to say before investing we should make justify.
This post was actually for newcomers who invest blindly ignoring many facts. Many of them came from the stock and forex market and they think this is the same here too. There are so many things that need to keep in mind when investing in a crypto project and I think I have mentioned most of them. If you face anything new which is not mentioned in the OP then mention it will add the end of my post.
Not only for newcomers there are still people in the Crypto space with years of experience still fall into poor projects because of not checking on what's on you've posted, I think you covered everything, sometimes we forgot the basics because of the hype we become blinded by the hype and FOMO we know there's a risk but we prefer to proceed to hope to make a profit and exit until we realize that it's too late to exit and we become bagholders of useless tokens.
If you made the same mistake again and again then you were not giving your attention. We need to make mistakes to harden our knowledge and will but the truth is nobody like to do mistakes even me. But nobody is born with skill and knowledge, right? And its human nature that they learn from mistakes. So I want to take it in a positive way so that it won't influence my will of work.
Very informative post a newcomer getting some new messages from your post.just want to say before investing we should make justify.
This post was actually for newcomers who invest blindly ignoring many facts. Many of them came from the stock and forex market and they think this is the same here too. There are so many things that need to keep in mind when investing in a crypto project and I think I have mentioned most of them. If you face anything new which is not mentioned in the OP then mention it will add the end of my post.
Not only for newcomers there are still people in the Crypto space with years of experience still fall into poor projects because of not checking on what's on you've posted, I think you covered everything, sometimes we forgot the basics because of the hype we become blinded by the hype and FOMO we know there's a risk but we prefer to proceed to hope to make a profit and exit until we realize that it's too late to exit and we become bagholders of useless tokens.
If you made the same mistake again and again then you were not giving your attention. We need to make mistakes to harden our knowledge and will but the truth is nobody like to do mistakes even me. But nobody is born with skill and knowledge, right? And its human nature that they learn from mistakes. So I want to take it in a positive way so that it won't influence my will of work.
Very informative post a newcomer getting some new messages from your post.just want to say before investing we should make justify.
This post was actually for newcomers who invest blindly ignoring many facts. Many of them came from the stock and forex market and they think this is the same here too. There are so many things that need to keep in mind when investing in a crypto project and I think I have mentioned most of them. If you face anything new which is not mentioned in the OP then mention it will add the end of my post.
Not only for newcomers there are still people in the Crypto space with years of experience still fall into poor projects because of not checking on what's on you've posted, I think you covered everything, sometimes we forgot the basics because of the hype we become blinded by the hype and FOMO we know there's a risk but we prefer to proceed to hope to make a profit and exit until we realize that it's too late to exit and we become bagholders of useless tokens.
That's why I quited investing on new launched projects. Because most of them are looks like a promising project but at a time they either fail or steal funds. More research needed before investing on a crypto project. Better we should invest on top ranked coins or on the promising projects with a strong community and team.
They're the riskiest IMO.That's why I almost not put any of my money into new projects as majority of them are not really promising to me or I'm just not impressed at all.
Research is a must just to be sure about where you'll be placing your money and it's an important matter because you'll not just randomly invest it and you're showing everyone that you're responsible with your money.
I don't know why but this kind of mistake is very common happening among the investors, newbies or even not newbies. haha
I also think that I have such a mistake, but not too big because I am not a fan of a new projects.
However, from these mistakes, we can exactly take the lessons, in what cases we must pay attention, not to make similar mistakes, learn from other people' experiences, and also do better strtegy and htought before investing.
I also think that I have such a mistake, but not too big because I am not a fan of a new projects.
However, from these mistakes, we can exactly take the lessons, in what cases we must pay attention, not to make similar mistakes, learn from other people' experiences, and also do better strtegy and htought before investing.
We should always be able to verify if what they're talking about is real and factual. Because if you're an investor that's giving importance to your hard earned money, you'll always be that person who's meticulous in details.
Many experienced investors know it, but maybe not for those who are new. Due diligence is required by those who like to invest in new altcoin projects, sometimes it's hard to tell it's a scam at first but in reality they end up being a scam. This happens quite often in altcoin projects, so of course, potential investors must be vigilant and careful.But the valuable lesson in investing is to always invest something you can afford to lose because then you will never feel like you're really losing when reality doesn't match your expectations.
These are mainly the reason why there are new investors that have been investing in the newer projects even if it's clear that they shouldn't buy that.
We should always be able to verify if what they're talking about is real and factual. Because if you're an investor that's giving importance to your hard earned money, you'll always be that person who's meticulous in details.
Many experienced investors know it, but maybe not for those who are new. Due diligence is required by those who like to invest in new altcoin projects, sometimes it's hard to tell it's a scam at first but in reality they end up being a scam. This happens quite often in altcoin projects, so of course, potential investors must be vigilant and careful.But the valuable lesson in investing is to always invest something you can afford to lose because then you will never feel like you're really losing when reality doesn't match your expectations.
Most of the projects are copycats of others. Amature should be careful when investing in a startup project. Sometimes we become fascinated by seeing the complexity and brilliantness of a project but the more brilliant it is hard is it to succeed.
That's the projection and front appearance of a project. They're showing at the top of their marketing but are poor with the actual. Most projects these days are like that.No matter how good the idea is we should invest in a working project, not just in the idea that most amateur investors do.
We should always be able to verify if what they're talking about is real and factual. Because if you're an investor that's giving importance to your hard earned money, you'll always be that person who's meticulous in details. That's why I quited investing on new launched projects. Because most of them are looks like a promising project but at a time they either fail or steal funds. More research needed before investing on a crypto project. Better we should invest on top ranked coins or on the promising projects with a strong community and team.
Most of the projects are copycats of others. Amature should be careful when investing in a startup project. Sometimes we become fascinated by seeing the complexity and brilliantness of a project but the more brilliant it is hard is it to succeed. No matter how good the idea is we should invest in a working project, not just in the idea that most amateur investors do.
Not just sometimes, but most of the time it happens that we neglect to do the deep search of the process and ignore to see their feedback as we think they are potential because someone told us and it was promoted in social media. Somewhat we thought that it was a safe investment and we can really be profit from this. But unfortunately, it is all just a manipulative view and it was made to encourage investors to put their money.
This still exists till now, we saw unknown projects in hypes and many got their bait, and lose their money.
If we deem care about our money, we should never put it into this kind of scheme.
This still exists till now, we saw unknown projects in hypes and many got their bait, and lose their money.
If we deem care about our money, we should never put it into this kind of scheme.
These are Some reason why other investors get scammed or lost their money it because of they are trusting fake or let says unknown project lead to them in to lost. Why is this happens because they are not do some research about that project maybe they are trusting so much or lazy enough to read the feed back. But as a newbies we need to do some search and look for a good comment/ a feed back from other investors in order to prevent such loss
Actually, even though we already make a research into the crypto investment still there's a possibility we got a honeypot or rug with the projects because it's all about the community inside even though the projects are really good and once the community makes pull down the market there a chance that the project will fall down too that's the reason why the management know how to handle the community itself to make sure the community must not creating fuds.
Not just sometimes, but most of the time it happens that we neglect to do the deep search of the process and ignore to see their feedback as we think they are potential because someone told us and it was promoted in social media. Somewhat we thought that it was a safe investment and we can really be profit from this. But unfortunately, it is all just a manipulative view and it was made to encourage investors to put their money.
This still exists till now, we saw unknown projects in hypes and many got their bait, and lose their money.
If we deem care about our money, we should never put it into this kind of scheme.
This still exists till now, we saw unknown projects in hypes and many got their bait, and lose their money.
If we deem care about our money, we should never put it into this kind of scheme.
That's why I quited investing on new launched projects. Because most of them are looks like a promising project but at a time they either fail or steal funds. More research needed before investing on a crypto project. Better we should invest on top ranked coins or on the promising projects with a strong community and team.
Nowadays, it has become difficult to earn money from airdrop and the reward is not big so people will not be patient enough to wait.
Nowadays, newbies are eager to make a profit they not only invest with the amount of daily spending they are even willing to borrow to invest in the hope of a quick return. But life is not like a dream, most of them are at a loss, in debt piled up.
I think that's is because the competition is now big and many people now know cryptos and all wants to get free money from the airdrops. This is also the reason why the rewards were halved. It is normal for rewards to get delayed because projects are still undergoing on some phases like sale, listing, and others.Nowadays, newbies are eager to make a profit they not only invest with the amount of daily spending they are even willing to borrow to invest in the hope of a quick return. But life is not like a dream, most of them are at a loss, in debt piled up.
If you are not patient enough to wait then this is not for you. It is totally wrong to use money that is intended for daily use because what if you lose that? you and your family are going to be hungry. It's also wrong to borrow and to invest because there is no assurance that we can accumulate a profit in a short amount of time to pay for our loans.
Just moved the topic to Beginners & Help section from Economic section after seeing so much positive comments. Hope this will help beginner to learn something.
I can see most of the project has this issue. They launch their token sale before their product is ready or just an idea. Some even doesn't have any team ready for the development but they already start marketing about their product. Investors are careless or eager for some quick gain so they actually do not care if project team can create some hype about the project. Actually its the small investors that lose their money mostly to these project.
Went through most of these issues during my early days in crypto (2014, 2015) and again during the ICO boom (2017,2018). The most common issue is that the listing (ICO) is made before the product is ready. And in many cases, the promoters may become dormant once the ICO is done and they may concentrate on other projects. Investors are too naïve, and sometimes they make the mistake of trusting these strangers blindly. Once the promoters receive money from the ICO, they lose their interest and give infinite number of excuses to delay their output. Lost quite a bit of money due to this unethical behavior so far.
I can see most of the project has this issue. They launch their token sale before their product is ready or just an idea. Some even doesn't have any team ready for the development but they already start marketing about their product. Investors are careless or eager for some quick gain so they actually do not care if project team can create some hype about the project. Actually its the small investors that lose their money mostly to these project.
Jump to: