Mistakes That Make You Poor Poor In Cryptocurrency - page 19.

Harrisonimo

full member

Activity: 490

Merit: 101

Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

Well, I still think there should be room for corrections as regards wrong transactions made. The place of due diligence in researching on every cryptocurrency investment is key to making the right choices and not being moved by every FUD being spread.

dlhezter

full member

Activity: 434

Merit: 100

Quote from: GregH37 on October 18, 2018, 03:51:37 AM

Quote from: Tagus45 on October 12, 2018, 11:58:05 AM

I think mistakes that are often made by many people is easy to panic with the news and also too quickly assume that bitcoin will die, and without thinking long they sell low.

What i believe and consider to be the biggest mistake in cryptocurrency is the inability to recognize the good and the bad coin and to invest without having enough knowledge about the project and the market of the specific coin. People are assumed to be rational and to make rational decisions is the prerequisite in the crypto market.

Without this knowledge, you might never be able to make money no mater how hard you try. This is something that makes the base of the whole business. It is like the feasibility of a project that is the reason of the survival and profitability of a particular project.

Knowledge about crypto is very important, because it includes money in investing and other sorts of process, before engaging to a profitable thing it is always good to do research about crypto , mistakes that commonly made in crypto are the poor knowledge in choosing where you will put your money or where you will invest it.

DOH!

full member

Activity: 812

Merit: 108

Quote from: Sarastiche on October 18, 2018, 04:14:06 PM

A major mistake I observe lately is investing before you research about the coin which might be base on sentiment and emotional attachement to a project,this migth turn out to be a scam project,also selling base on a little rise in a coin.

I can understand this because when you study and analyze a project well you will have a good feeling about that project. Especially when you invest in it from the beginning, it will certainly have a great influence on your psychology and investment decisions.

Sarastiche

member

Activity: 532

Merit: 10

BITCOIN IS THE CURRENCY OF THE GLOBE

A major mistake I observe lately is investing before you research about the coin which might be base on sentiment and emotional attachement to a project,this migth turn out to be a scam project,also selling base on a little rise in a coin.

candra raditya

copper member

Activity: 455

Merit: 0

Yes, that can be a mistake and make a loss, but in my opinion, the mistake is being too worried about the market downturn, panicking and deciding to sell low.

Rashid555

full member

Activity: 350

Merit: 100

In crypto the most important thing is the market information when you know that what is going on in the market you will not do any wrong attempt bitcoin is very good if we trade with care i have traded several times and it is true that some time we do things in rumors but when get something we are happy and when we lose anything we regret it for ever so know the market you will not be poor ever in the crypto world.

waqasniaz007

full member

Activity: 406

Merit: 121

Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

There are some other factors including this, buy high sell low, Fear and trading without emotional discipline, Greed and emotional attachment with shipping and buying coins without any research.

bluered

member

Activity: 176

Merit: 10

The biggest mistake that i did in my crypto life was when i earn my first bitcoin, and sold it immediately because i worried that bitcoin will be face out. I never that, bitcoin price will be the first high value again. I reggreted it, if i just keep it, then maybe i earn thrice of what i got.

yulionoo

sr. member

Activity: 756

Merit: 250

CryptoTalk.Org - Get Paid for every Post!

yes, very true you say. in cryptocurrency there is no institution that guarantees and is responsible for compensating your losses when you experience fraud or theft. indeed we must be very careful when we do the points you mentioned above. don't let other people know your personal key, and don't lose or forget. because in cryptocurrency, all risks are our own.

kumala_abi

sr. member

Activity: 798

Merit: 250

GoMeat - Digitalizing Meat Stores - ICO

Quote from: biletskiy on October 18, 2018, 09:37:39 AM

Quote from: Agniya on October 12, 2018, 11:31:16 AM

I made a mistake when I believed in the predictions. Now market forecasts do not work at all. No one knows anything.

I have already understood that no one prediction worked. So, I have stopped to listen to the rumors and believe the forecasts given even by the crypto specialists.

before joining in cryptocurrency market, better we prepare our self with analisys skills.so we would not trapped in fake rumors or other advice.if we have own skills we could be very confidence while facing down trend market.

biletskiy

full member

Activity: 434

Merit: 100

Quote from: Agniya on October 12, 2018, 11:31:16 AM

I made a mistake when I believed in the predictions. Now market forecasts do not work at all. No one knows anything.

I have already understood that no one prediction worked. So, I have stopped to listen to the rumors and believe the forecasts given even by the crypto specialists.

GregH37

legendary

Activity: 1302

Merit: 1037

Quote from: Tagus45 on October 12, 2018, 11:58:05 AM

I think mistakes that are often made by many people is easy to panic with the news and also too quickly assume that bitcoin will die, and without thinking long they sell low.

What i believe and consider to be the biggest mistake in cryptocurrency is the inability to recognize the good and the bad coin and to invest without having enough knowledge about the project and the market of the specific coin. People are assumed to be rational and to make rational decisions is the prerequisite in the crypto market.

Without this knowledge, you might never be able to make money no mater how hard you try. This is something that makes the base of the whole business. It is like the feasibility of a project that is the reason of the survival and profitability of a particular project.

yitzjoe

member

Activity: 390

Merit: 11

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

zoeylee

copper member

Activity: 238

Merit: 1

Semi-Decentralized Exchange

I think it is when you invest without any knowledge about the market of crypto currency. Panic selling is also one of the factor in loosing money. Then must also learn from any mistakes or decisions we make.

Evetemot

newbie

Activity: 46

Merit: 0

Quote from: Sama517 on October 12, 2018, 10:30:58 AM

Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

This mistakes to me are not straight forward. For instance, how does electricity billing actually make you poor in crypto? You don't bill yourself. Besides, if you are not a full time miner, electricity is not an issue to you. Your phone or laptop even consumes less power than your TV and home theatre.

In my opinion never believe in news and predictions because these two things destroyed many investors. For instance a person bought bitcoin for $18000, now he is waiting from December 2014 till date and will continue waiting for long to recover his deficits. He took his decision because of the predictions about 2018 bitcoin price but the result was opposite.

PlusOne88

member

Activity: 420

Merit: 10

“Tackling Climate Change Using Blockchain”

Not being able to study how everything works in cryptocurrency really is the main idea that affects every factor that you have just mentioned. People came in unequipped with the knowledge that are supposed to be the tools for understanding everything in cryptocurrency. More people are easily persuaded by people who encourages them to join because they always thought there is much to earn in cryptocurrency and you could become instant millionaire for a very short period of time. Too many of these influencers are even scammers who are there to bleed you with your money. They could make anybody poor.

Layers318

jr. member

Activity: 266

Merit: 4

CurioInvest [IEO Live]

The common mistake made by most crypto investors stems from impatience. Due to impatience, a lot of crypto investors have sold their valuable coins for amounts worth a candy or burger. Most investors fail to learn and do not know the capabilities and potentials of the coin they hold. This ends up in selling the coins at cheaper prices.

max fray

member

Activity: 294

Merit: 10

JOIN THE NEXT MEGATREND IN CRYPTO!

Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

5 of the issues you've listed are understandable, but I'm not sure is I got the idea of "buying coins with rumors". Did you mean that investors make mistakes when buying coins of the projects that are not reliable, just because somebody advised them to do so? Yes, lack of deep research is one of the reasons why investors lose their money and cannot make profit with those untrustworthy tokens.

Nnedaddy1

copper member

Activity: 294

Merit: 1

I think the mistakes that are capable of keeping one perpetually poor in cryptocurrency are:
Being greedy.
Not taking profits when you see no matter how little the profit.
Following the crowd fomoing.
Not having basic understanding about how the cryptocorrency market works.

bonammeo

jr. member

Activity: 70

Merit: 4

I found the basic mistakes mentioned above came from you too careless with your money, not only that you are not serious in the transaction coin, definitely, you regret will lose the opportunity to sell coin with high price. Crypto is not protected by any organization, which means you have to make a decision with them, so be smart and smart.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 19. (Read 6952 times)