Mistakes That Make You Poor Poor In Cryptocurrency - page 38.

weblouartisan

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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.

In my own opinion, most of the people who invest on cryptocurrency without a decent knowledge on how the market works are really losing a huge amount of their investments.

Direwolve735

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The biggest mistake in the crypto-currency sphere, because of which people lose money, is to overestimate your own strengths, and as a consequence, the use of a larger amount of money than you can afford. You can never use the money that you are afraid of losing.

Nikola95

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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.

True. Also buying some unknown alts with huge % rise for that day, and making easy for people who pump it to exit nicely. This mistake is related with mistake of trading on some suspicious exchanges, so people need to think carefully which exchange to use.

Pamadar

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Quote from: Chrisjay29 on July 10, 2018, 10:55:46 PM

Yeah thats the common mistake but thier are so lot of mistake that can make you poor in cryptocurrency. One of those is panic selling. They didnt wait to move up the token. The second is not analysing the object where you invest. There lot of investment that has scam one of those is airdrop and ico.

They just think that crypto is a money making system so they just sell when they've seen wrong choice of coins without thinking that it will bounce back after, those selections are true and it really makes investors much poorer when they mistakenly deal with this investment without trying first to understand every aspect that they needed to learn, much better to know what you are doing/investing in order to comfortably played with the market and earned decent profits.

baconlike

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My biggest mistake is not to wait for long periods of time, I always worry and see the prices of coins, so I usually sell them at low prices. I did not wait patiently so I never succeeded with them.

squog

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Too true. I've known of people even friends who actually lost their keys into their accounts because their phone got stolen. Luckily they transfered most of their holdings to their local wallet, but still that crap hurts. Also, the biggest mistake one could have done is to sell low then buying high. These same people wept when bitcoin peaked at 20k USD.

dewdd2

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Thank You very muchเล่นไพ่บนมือถือ:d

aliichaudhary

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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.

Lexurdania

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In any investment, no one cover our loss on our capital, thats why we need good knowledge before investing our money. Mistake that i made maybe I am selling my coin with cheaper price because of negative news in market and peoples start selling that coin.

wahyu wida

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Quote from: zanezane on July 11, 2018, 02:17:52 AM

Quote from: Rubel23 on July 11, 2018, 02:01:55 AM

Some more points can also be added such as selling in low prices,investing without knowledge etc.In 2018,we are seeing lots Icos that coming to market, unfortunately most of them are not legit.People just invest without researching about those. Again, as the market is now in an unstable situation, some are selling in low prices just being afraid.That also making them in a great loss.
They need to be caeful about this.

Some people are easily jumping in an investment without proper and enough knowledge then later on if their investments are gone they'll shout to the world that they got scammed. They see their friends that become rich with cryptos as so they think it can also happen to them that's why they don't even bother to research about it. It's sad that when they see a lot of money they easily gave up and invest without seeing the other side of the picture.

right. they just want a profit like an experienced trader, without learning the world of cryptocurrency at risk, after a bad thing they blame cryptocurrency. this is one of the causes of bad news

zanezane

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Quote from: Rubel23 on July 11, 2018, 02:01:55 AM

Some more points can also be added such as selling in low prices,investing without knowledge etc.In 2018,we are seeing lots Icos that coming to market, unfortunately most of them are not legit.People just invest without researching about those. Again, as the market is now in an unstable situation, some are selling in low prices just being afraid.That also making them in a great loss.
They need to be caeful about this.

Some people are easily jumping in an investment without proper and enough knowledge then later on if their investments are gone they'll shout to the world that they got scammed. They see their friends that become rich with cryptos as so they think it can also happen to them that's why they don't even bother to research about it. It's sad that when they see a lot of money they easily gave up and invest without seeing the other side of the picture.

SiNeReiNZzz

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Someone has said about greed from the other page. Yes it is also one of the most common mistakes that gives you big impacts such as regrets all time. It is common among traders who wants to have more, and didn't realize after that they even lose more than what they earned.

Rubel23

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Some more points can also be added such as selling in low prices,investing without knowledge etc.In 2018,we are seeing lots Icos that coming to market, unfortunately most of them are not legit.People just invest without researching about those. Again, as the market is now in an unstable situation, some are selling in low prices just being afraid.That also making them in a great loss.
They need to be careful about this.

calya

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Quote from: Chrisjay29 on July 10, 2018, 10:55:46 PM

Yeah thats the common mistake but thier are so lot of mistake that can make you poor in cryptocurrency. One of those is panic selling. They didnt wait to move up the token. The second is not analysing the object where you invest. There lot of investment that has scam one of those is airdrop and ico.

our mentality and skill to analyze coins is important to us if we want investing our money in cryptocurrency.commonly people doesnt care about this think.so they suffering lose a lot.

orions.belt19

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

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.

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.

Greed can be said to be a main root cause since this in effect results to the different ways one may lose as cited by OP. Because of greed, people resort to extreme measures or become clumsy. Those who are hungry for money fail to see the red flags and overlook possible schemes and scams out of their desperation to gain money. If you are greedy, it’s also possible that you would invest even without researching first since you are so determined to profit and as a result, fall for scams or failed investments.

Chrisjay29

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Yeah thats the common mistake but thier are so lot of mistake that can make you poor in cryptocurrency. One of those is panic selling. They didnt wait to move up the token. The second is not analysing the object where you invest. There lot of investment that has scam one of those is airdrop and ico.

millgates

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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.

You should add fake website of bitcoin related service. Many fake website out there that will make you think that you enter the right site and send to the right address because those fake website is almost looks like the same. Just try to inpunt some false password when you access your account there if you can sign in with that false password then that is really fake website.

zeingrind777

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Quote from: btcluisdiki on July 10, 2018, 08:44:48 PM

I think most people commits mistake when they joined any investment with zero knowledge of what they are joining. People should be aware that cryptocurrency is not that simple where you can just earn profit immediately but to become more effective with your investment, people should be more familiar with cryptocurrency first. People should be have the knowledge so that they can learn how to analyze the market trend to become successful with their investment. When joining ICO's, check everything what is necessary about the project.

I agree. The conclusion is, those who want big profits without considering I agree. The conclusion is, those who want big profits without considering the risks to crypto investment. in the end, they will lose and regret their deeds the risks to crypto investment. in the end, they will lose and regret their deeds

VentureHero

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Also:
- Not understanding the basic market rules. If you buy a scam token with no orders it's gonna end very bad.

Sadlife

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Actually the proper advice is to make yourself knowledgeable in the internet. If you dont want to be hack whether if it's your Crypto currency or personal details then you must learn how to properly secure yourself and know the do's and dont in the internet. No system is safe never be to confident if you think a software or system is secure.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 38. (Read 6931 times)