Mistakes That Make You Poor Poor In Cryptocurrency - page 17.

Commotheon

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Quote from: Rejevunator on October 23, 2018, 06:35:02 AM

Quote from: nydiacaskey01 on October 19, 2018, 01:53:52 AM

One of the biggest mistake you can make in Cryptocurrency is to put all your money in one coin believing that the coin will go to the moon with your investment but what happen is the other way around, coin went down hill with your money in it, leaving you with only 25% of your capital.

Whats more worse on the 1st one I mentioned above is putting all your money in 1 investment, I mean your life savings, your childs educational funds for the future, your retirement fund, all invested in cryptos and next thing you know, the owners decided to run away with your money. Rule of thumb in trading, only use your extra money, money that is idle or ready for disposal. Never use or trade from money who doesn't know you.

But when bitcoin decrease they become panic and sell bitcoin. After that they start hating cryptocurrencies and giving advice to people that not to invest with cryptocurrencies.

What about fomo ?. Wrong news are now days making people panic to sell there bitcoins. When i was new in cryptocurrencies i did the same mistake which makes me poor.

syamster

hero member

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Quote from: cintamoni on October 22, 2018, 05:39:34 AM

Quote from: nydiacaskey01 on October 19, 2018, 01:53:52 AM

One of the biggest mistake you can make in Cryptocurrency is to put all your money in one coin believing that the coin will go to the moon with your investment but what happen is the other way around, coin went down hill with your money in it, leaving you with only 25% of your capital.

Whats more worse on the 1st one I mentioned above is putting all your money in 1 investment, I mean your life savings, your childs educational funds for the future, your retirement fund, all invested in cryptos and next thing you know, the owners decided to run away with your money. Rule of thumb in trading, only use your extra money, money that is idle or ready for disposal. Never use or trade from money who doesn't know you.

You should also include panic selling. In bitcoin people are greedy and they want profit in every moment which is not possible. When you buy bitcoin you should wait for at least a year to gain some profit.

Panic selling is full of lose we should have patience once we involve in bitcoin, we should know we should wait so that in future we will never regret for making any wrong decision, wise investors always invest for long term because they aware of the strategy, invest for at least five years because short term investment gives lose sometimes so be a little careful please.

stellgod

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Quote from: alonelyorange on October 22, 2018, 03:20:26 AM

Just little mistake you made at cryptocurrency make you lost your money and poor, I get when some one trade or sell their altcoin asset at more lower price and their asset sold so fast and they have lost money.

People who have limited knowledge about crypto investment will face with difficulties and will fall in troubles as they will know nothing to handle and survive in different market conditions. Even if they know that buying should take place in low market if they done with that process they may make mistakes onwards. The perfect decision is to learn first that is to invest in yourself first after which you will be able enough to survive in any market.

KorakPawon

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Beside that, another mistake is impatient. patient is also influenced in every decision we made for crypto. People with no patient usually lose and it means she/he is getting poor little by little. Especially, bitcoin is decentralized, and yes there's no guarantee for you, from anyone, if you just get loss and lose your investment. To avoid another loss, you should improved yourselves by looking for people's experiences and also learn from your own, that's really important to stay and enjoy bitcoin.

JMD07

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Yeah I agree on on you and to stay away with those mistakes we need to increase our knowledge in cryptocurrency. Those scammers are hiding on the corner watching our moves and take advantage on our weakness. Also, don't decide or invest if your not sure and wait for the right time.

jimskiy

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Bitway.net - The Best Bitcoin Mining Network

I made big mistake with cryptocurrency where I really trust with some altcoin, last month I got altcoin from bounty campaign reward and I see its really good project where listed at many great exchange market, I hold it with long term but now my asset is scam with drop lower price.

MTNAX

newbie

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I don't think it's a mistake that makes them poor because in investing crypto mistakes are normal, maybe they are poor because they don't know how to process crypto properly and they are also often tricked when investing. Therefore knowledge is needed before we start investing crypto.

arikassuja

sr. member

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the mistake often occurs when traders and ICO participants do not know how to secure their assets in a safe way, and many of them are deceived by phishing links that are almost the same even though it is fake which makes them victims and loses their assets.

Genamant

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Trphy.io

i guess the biggest mistake i committed in crypto is being too greedy and setting too much on every singe trade that i made
but when the market went down i have no choice but to sell on negative instead of selling it when it is on green.

sgenuine

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Quote from: nydiacaskey01 on October 19, 2018, 01:53:52 AM

One of the biggest mistake you can make in Cryptocurrency is to put all your money in one coin believing that the coin will go to the moon with your investment but what happen is the other way around, coin went down hill with your money in it, leaving you with only 25% of your capital.

Whats more worse on the 1st one I mentioned above is putting all your money in 1 investment, I mean your life savings, your childs educational funds for the future, your retirement fund, all invested in cryptos and next thing you know, the owners decided to run away with your money. Rule of thumb in trading, only use your extra money, money that is idle or ready for disposal. Never use or trade from money who doesn't know you.

I thought all the guys that work with the cryptos know that they need to invest at least in 5 altcoins and Bitcoin. Naturally if you buy only one token, it can fall any time and you will lose too much.

BitTraderCute

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Quote from: fauzan Ichsan on October 23, 2018, 02:40:08 AM

Quote from: randyg29 on October 23, 2018, 02:14:37 AM

I think getting more mistakes that make you poor poor in Cryptocurrency is buying more coins that are not that good to invest with our money. They may lose a big amount of money that they invested and I think they must researched first their currency that they like to invest with their money.

i think many investors invest without studying cryptocurrency first. so that they lack knowledge, and eventually experience great losses. this happened because they were tempted by results obtained by experienced bitcoiners

much investor did not prepare their self with some knowledge and skill to face any condition in cryptocurrency market.so they often make fault in their investment decision.

Rejevunator

newbie

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Quote from: nydiacaskey01 on October 19, 2018, 01:53:52 AM

One of the biggest mistake you can make in Cryptocurrency is to put all your money in one coin believing that the coin will go to the moon with your investment but what happen is the other way around, coin went down hill with your money in it, leaving you with only 25% of your capital.

Whats more worse on the 1st one I mentioned above is putting all your money in 1 investment, I mean your life savings, your childs educational funds for the future, your retirement fund, all invested in cryptos and next thing you know, the owners decided to run away with your money. Rule of thumb in trading, only use your extra money, money that is idle or ready for disposal. Never use or trade from money who doesn't know you.

But when bitcoin decrease they become panic and sell bitcoin. After that they start hating cryptocurrencies and giving advice to people that not to invest with cryptocurrencies.

Mnemosyne01

newbie

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The simplest mistake may be the control of your cryptocurrency. Not listen to the opinions of experts in the field and rush to make decisions when there is no basis.

margaret22

member

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True, in this market, if you loose your money, there is literally noone to blame, which makes cryptocurrencies kindof dangerous. But in the same time, it also teaches taking responsibility, which is a good thing IMO.

Globalbitcoinl

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storage of large funds in one wallet, it is also a major mistake, because in case of loss you lose everything at once

legenduim

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I think there are more mistakes than you mentioned. People can make mistakes at any stage of trading. Many people don't even realize how weak their password is. And some people write down passwords in prominent places. Not serious attitude, this is the main mistake when communicating with crypto.

coinfinger

sr. member

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Quote from: yitzjoe on October 18, 2018, 04:01:12 AM

there is a need to understand crypto well and a little about internet security because this will help us not to be easily fooled. Do not be easily fascinated by unnatural profits, and also press the use of emotions in decision making because this will give you loss. be a smart and smart investor reading the situation without having to be fooled by many things in the online world

There are so many coins and projects out there with very high advertisement to attract investors but in reality, there is nothing behind the project. Just the lame and false promises and growth rates are used to loot investors of their money.

This unnatural growth is the fascinating for the new investors who normally do not know about the real and the fake coins and are being preyed. These mistakes that lead to the loss in the crypto market upon entry are bitter realities for people and majority of them bade good bye after loosing the first stake of dollars.

barlasb

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Putting all money in one coin, getting greedy and holding too much, not using stop loss etc Cheesy

fauzan Ichsan

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: randyg29 on October 23, 2018, 02:14:37 AM

I think getting more mistakes that make you poor poor in Cryptocurrency is buying more coins that are not that good to invest with our money. They may lose a big amount of money that they invested and I think they must researched first their currency that they like to invest with their money.

i think many investors invest without studying cryptocurrency first. so that they lack knowledge, and eventually experience great losses. this happened because they were tempted by results obtained by experienced bitcoiners

randyg29

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http://www.daxico.com/

I think getting more mistakes that make you poor poor in Cryptocurrency is buying more coins that are not that good to invest with our money. They may lose a big amount of money that they invested and I think they must researched first their currency that they like to invest with their money.

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