Topic: Mistake I made till now investing on crypto projects. - page 3. (Read 622 times)

Product was not ready is the most common mistake when we invest in a new project because the team gives a screenshot for the beta version of a product many people will trust something like that. The safest way is we should until the product is 100% ready to use not only in beta or even only an idea. Also they should make the community be a part of their product because a lot of investors are a part of the community.

Your thoughtful words really helpful for me as I was going through some of listed experience here.
Recently I was introduced to a project by a friend which had a big community and so many promesiss too but as you mentioned there were no discussion of proper utility and reading your experience I was instantly got the idea where things are going.
Now I know how much more i have to learn and what to be caution too.

We usually put an excuse of losing because we are new to the market. That was right, I know. But we can let this negative insight as a beginner, we indeed can change it depending on how we prepared ourselves before entering the market and before investing. In fact, it was just like we start a business and we need to study it first before we launch. Of course, we can make it perfectly but at least we do something to minimize mistakes and losses, and we don't allow these things to happen to us.

Anticipating the market is very important and we don't have to underestimate the market volatility.

Mistakes are normal, but if we are still a newbiew and not familiar then starting with a small value is better, and when I'm still a newbie I rely on earnings that I get free from giveaway and faucets for trading, cloud mining, hyip and even gambling and so on , if it disappears or loses then I'm not too regret.

Hype project only work when you already invested on their project however, if this was the first time you saw a hype project. Avoid at all cost because if you ride their hype and invest during the peak you could potentially lost what you've had invested. That's why seeing a hype project is dangerous and I don't want to ride with their hype. This problem exist mostly in altcoins project and it does really need a lot of knowledge to be able to make a profit with it.

There is a calculated risk you need to take when you are investing in low market cap low ranking coins and if the project is having a good team and the project is having some utility then you have the potential to rally multiple folds but you need to follow the project development and make sure the team is transparent, if not sell off without think twice.

If you see the hype, sometimes people think that it can immediately make a profit quickly,
actually we can but when we are greedy and don't do research or analysis first then we can lose money,
In making a decision I think it is important to consider many things

These two list are kinda tricky, most profit came from early investors where products and utility aren't available yet.  This goes down to how competent is the developer, and your investment plan, may it short, medium, or long-term.  So whether to jump into an investment one must identify if he is into a short or medium or long-term investment.  If you are into short to medium term, skip this kind of investment, you might find yourself in a difficult situation if you invest in projects where the utility or product isn't implemented yet.

Investing early might be very risky but if the developer is competent and reliable enough to deliver the roadmap and market it with a success, then this kind of investment might give you more than what you expected while investing when all the roadmap is implemented might be a little too late to make a very good profit from it.

This is quite true, we end up trusting projects with our money without properly researching about every aspect. Plus I do not agree that a project that relies on the creators should be a proper project to begin with. I mean we are talking about a situation where it shouldn't have been related to team to begin with, if the team improvements and developments are the reason why a project gets better then it is not a project at all.

Most projects these days keep looking at the creators to do decent job in order to go up, and we have no idea if it will do a decent job or not which results with us trusting unknown people with our money and causes problems.

everything you write is true and very informative.  This is the reason why in-depth research into a crypto project before investing is really needed, If the investment is only because you invite friends or relations ^{(without further research)} it is certain that the risk of being deceived is very large.  i am now not going to be so easy to invest in a new crypto project if i haven't done more research. 

It would vary on different circumstances such as;

Low cap/Low ranking coins = Possible able to get 2x-100x or more
Huge cap/Established coins  = Getting 2x in price is hard but when it comes to assurance in terms of potential then there's no doubt to this.

Mistakes are inevitable due to unpredictable movement of the market but with due experience, we could able to handle up the situation somehow.

Token with huge supply or circulation are not fast to rise this is what I can notice with that and investing in such is taking your patience to work. I think I made such mistake sometimes ago but now I have been experienced to know it will not rise above some limit and to be ready dumping it when it will touch in such level. Hodling a coin with low utility is also a mistake.

People could easily be moved by the hype and greed. Having the wrong mindset that crypto is a shortcut to getting rich usually result to wrong decisions on investing with projects that are on trend. People are risking on it without even doing research but just going with the flow believing that they could gain higher profit through hyped projects. It's a common mistake that investors must learn from because most of the time, scammers hype their coins to deceive investors.

This has some points, most newbies in crypto investments should take information like theses before investing blindly. I have experiences also, and have seen tokens that failed in the long run. I was investing in NFT and p2e projects recently and the thing that made me quit is that the token they are using has less utility on it. They produce drastically and the amount of circulation is so huge that the tokens price has drop, it is just like fiat and it inflates the small community of investors.

Actually, the real problem is with people's sentiment. Many people think investing in crypto is a lottery after seeing a meme project like doge and Shiba Inu spike more than 1000% within a few weeks. Lack of proper knowledge about the crypto space gives people a false impression of crypto. Because these newbies took so much loss in their first trade and called crypto a scam.

For me one of the most common mistakes why we fail as investors is that we don't properly research everything about a certain project. Like for example, you found out that a project has an amazing concept and they keeps on saying that they have amazing things to offer but that team remains hidden and unknown yet you still invest. Or a friend of yours introduced a project to you and since you trusted him/her so much, you jumped in without conducting any reseach. I've seen most people done such things and ended up losing money. So what's the problem? maybe it's either we are to lazy reading and knowing every little information about a certain project or we put our trust to other people so easily. I think that is the two main reasons why we keep on making mistakes when it comes in choosing the right investments.

This is so true. I knew some people that were just like this and fortunately, they learned as time passed by. It's really important to do research first before investing into something no matter how small the amount you will invest because every cents matter. If you will not check where you will put your money, there is a high probability that you will end up losing what you risked.

Making sure that the coins you will invest in have a potential and they will have a good project that will be sustainable and effective in the long run will save you from headaches and losses. Hence, you should really do your part which is to be informed and knowledgeable.

Here are some of the mistakes what I have made in the past.  I see new traders start trading without any knowledge and  analysis and also without understanding well and then they face losses. I think it is important to create awareness among all by presenting such goods posts well and newcomers must gain knowledge about this before trading.

An in depth research is not even a guarantee. Billions were lost during the height of the ICO craze. I'm sure investors, especially angel and institutional investors, made thorough research before releasing a good amount of money. But many of them failed to make ROI.

I can still remember the most common advice in hunting for a good project to invest in was to carefully check the background of the development team. Many did not fail to do this. I myself was diligent enough to do this. An excellent development team is probably one of the reasons why some ICOs in the past would reach their hard cap so easily. But where are the projects now? Most of them are probably dead.

- Don't forget the most vital but less cared about. "The cheap is good mentality" which makes people easily fall for projects that offer lots of coins for a cheap price but the actual supply is too huge to actually give much returns and would take so much to increase their price. At least this is the case for the late comers. For the new comers though, it would be like a moth getting drawn into a flame.

- There's also the "invest because he said so" where most people get fcked because of listening to signals or influential people shilling while not studying about the coin they are investing in.

- And yes, The falling in love with the token which is somehow related to what you have mentioned which was trusting devs too much. Here though, you have fallen in love with the community, the devs, the ideal of the coin or utility that you basically ignore the dozen of red flags that you see as days go having little to no progress and bad managing and marketing. This makes you want to go down with the ship like the Titanic captain. sound hilarious but this is real and does happen a lot.

Good post op, this is such a valuable information specially for newbies even to those that are already in the midst of being a veteran and a newbie. If I had smerits I would've already given you one.