Mistakes That Make You Poor Poor In Cryptocurrency - page 25.

Rrotess

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Quote from: neliawesome on July 10, 2018, 06:37:58 AM

Theres a common mistakes which makes you loss profit just like investing without knowledge on it.There are lots of ICO projects rising nowadays so common type of investors mistake is they jump easily into those project without assurance.Thats why instead they will earn they loss more money.Greediness also leads you in losing money.Carelessness will also leads to trouble like your accounts will be hacked or you might get scammed easily.

Jumping into conclusions usually can get us really down. Specially, when we think that we have come up with a wrong decisions to buy or sell something and to take a risk.

Hirikama29

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Some mistakes we make when entering the e-money market are that we forget to forget our password when we save more money than we trade or lead to some missing Remain basic

nabinkhadka

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There are many things to be careful when you start to invest in Crypto. The first is security , To keep your private keys in very safe place. others includes enough research , knowing when to take profits and cut down losses. updating yourself with time.

Xising

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Quote from: neliawesome on July 10, 2018, 06:37:58 AM

Theres a common mistakes which makes you loss profit just like investing without knowledge on it.There are lots of ICO projects rising nowadays so common type of investors mistake is they jump easily into those project without assurance.Thats why instead they will earn they loss more money.Greediness also leads you in losing money.Carelessness will also leads to trouble like your accounts will be hacked or you might get scammed easily.

I agree. Lack of knowledge can really lead to lots of mistakes, or it can even be a make-or-break kind of thing for those who are investing, and might lead them to quit their ventures in the cryptocurrency market altogether. There have also been lots of people who thought that doing something in the market whether it's investing, trading or bounties without ample knowledge and with the goal to only wing things out do not lead to anything gainful and fruitful in the end. I mean, the market is already filled with risks, and if you are not prepared to tackle it head out and with preparation, it will only add more unaccounted risks that would eventually lead you to failure.

gorodi

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Quote from: frankiemalton on September 03, 2018, 03:09:37 PM

Being emotional. The best trader is the trader without any emotions, that is not phased by a 200% increase or a 70% dip and just takes profits or rebuys more.

I think any trader can be a very emotional man - this is the norm but he has to control his emotions. This is very difficult but it is possible to do. Just try, and you will see that you will succeed.

Naughty Princess

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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.

Greediness and carelessness are other factor why losing investment. Lack of knowledge about the project and just believing on the opinion of other people instead of having own research about it. What makes poor become poorer because of investment is because of putting all what they have on it and expect for easily gain profit without knowing that crypto is very volatile at the moment. Without knowing how much they longing for their investment, they lose chance on selling when the price rise and panic when price goes down.

frowsiter

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That does not make us poor, that makes us feel that we are idiot one for not being careful about the important stuff like crypto wallets and their private key storing. Most of the people are loosing their keys and keystone files everyday and thus making stuff go wrong. Most of them are bounty hunters who are careless because they are new to crypto and start with some wallet and just copy paste the keys somewhere. At the end when they have got more than 10-20 different types of tokens after 6-8 months they will realise they have no keys for accessing the wallet and loose more than couple of thousand dollars. Lol. That is not being poor, that is being rich idiot. Grin

laravuemaster

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When Football meets Crypto

Quote from: Banggrambeng on August 29, 2018, 03:28:18 AM

Looking at cryptocurrency costs this weekend, it looks like many of you will find some bitcoin under your tree, not a new game console. It seems to be a great holiday gift.

Bitcoins today is currently growing so hard which means that the price will soon to pump up before the year ends just like what happened last 2017.

Gramna

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Looking back, I cannot say that these mistakes made me poor but I lost a good amount of coins due to these actions. Panic selling, Easily swayed by FUDs and investing into some ICO projects without thorough research. But in the brighter side, I learned from them and those are the things that made me more careful and stronger as I manage and hold my coins, thus gaining me more profits in the long run.

Ledy Alise

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Quote from: avikz on July 10, 2018, 06:06:30 AM

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

Will agree! Good Spotted Avikz! It is good to high light the most common mistakes, as bunch of new guys definitely would benefit from this. It helps a lot to have guidelines when you have just joined in.

frankiemalton

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Being emotional. The best trader is the trader without any emotions, that is not phased by a 200% increase or a 70% dip and just takes profits or rebuys more.

acheampong64

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Well you have good points. We need to take steps that'll protect us in this world of crypto because as you said, no one is going to give you your protection and safety. That is each one's responsibility and so we need to make sure we really keep ourselves safe. And also, we need to assess risks and benefits of everything we do in crypto so that we can make our investments safer.

Silberman

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Quote from: pocketfullofpoke on August 29, 2018, 01:25:56 AM

There are so many mistakes to be consider with regards to your status as far as cryptocurrencies are concern. In my opinion, one of the common mistake is not grabbing the opportunity to buy bitcoin and other cryptos while their market price is just very low.

That is a mistake that currently many investors are making, the price of bitcoin is very cheap right now and yet people are afraid to invest, they do not understand that if they wait for the price to go even lower they are going to be even more scared to invest in bitcoin, and if they wait for the price to go up then they are going to miss thousands of dollars in profits and they run the risk of investing when the price is high and then a few days later we suffer a correction.

hometester

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cryptocurrency teaches independence

jademaxsuy

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Quote from: coinxwife on August 26, 2018, 01:59:25 AM

Yes many are more poorer due to too much greedyness why? After they receive some tokens or rewards they instantly do the excha nge,they dont matter to put some investments for more profit for the furure,because we cant notice that it will suddenly grow More bigger.

No the reason for being poor like as bounty hunter is not dumping of tokens after receiving the reward rather we are poor already and we need to dump those tokens to get financial back up with the needs for the family. Anyway being poor is not a crime or something that violates the rules of law.

pelipurlara

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Quote from: bitmover on July 10, 2018, 07:16:32 AM

I lost a lot of money in trading too =(

Day trading and swing trading are very common mistakes people do in the beginning.

if previously you are ready to face the risk of loss that you get because of an error in your strategy, in my opinion it is a natural thing, because once again, investment in crypto currency must be prepared to face all the possibilities that occur with changes in the value of crypto currency

Banggrambeng

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Looking at cryptocurrency costs this weekend, it looks like many of you will find some bitcoin under your tree, not a new game console. It seems to be a great holiday gift.

gurupauts

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DISRUPTING THE $23.5 B SCIENCE PUBLISHING INDUSTRY

to start investing in crypto currency, we must really know about crypto currency so that we can avoid losses because crypto currency has a high risk if we are not careful in making a decision then we will lose and we can even become poor

Karis2018

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Additionally you have to control your feelings in managing your ventures and know your constraints to not be avaricious in sitting tight at the cost to move higher and wind up washout after the value dumps. It takes months, years to sit tight at the cost to ascend higher and it will just dumps in couple of hours.

tommisetiyawan

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Yes, that's right, that factor is very influential for both beginners and professionals, and at this time I always try to observe the ICO, which I will invest in ICO, there are some I buy tokens in the ICO and when the selling price in the exchange is not in line with expectations , even I suffered a loss.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 25. (Read 6931 times)