one mistake that crypto beginners should be aware of ? - page 5.

irhact

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

I don't think chosing a wrong exchange is that popular of a mistake anymore by any new trader just joining the market. The big exchanges like Binance, Coinbase etc has made themselves so popular that any new traders can't miss their ads when they pick interest in trading. This exchanges are unlikely to scam so that's taken out of the risk too.

The problem I can think many newbies will face is them not knowing what to trade, this exchange are listing new tokens regularly just so they can get some of that heat coming from this trending tokens which usually don't last long but if you get involved with them and not take out your profit on time, you could possibly get dumped on by early investors.

GreatArkansas

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Besides this, we should also take a look at those who are not using centralized exchanges, like they are intended to store their cryptocurrencies in their personal wallet and another problem comes up: securing their wallet or private keys or seed phrases.
Not properly securing their private keys or seed phrases is a mistake that crypto beginners should be aware of. When it comes to accessing your cryptocurrency holdings, private keys function similarly to passwords, and seed phrases are a group of words that can be used to regenerate your private keys in the event that you lose or misplace them.

Unbunplease

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The main mistake of a beginner, in my opinion, is that a beginner starts trading cryptocurrency without thoroughly studying the project it refers to, without analyzing social networks, without checking who is behind the project. Charts can be deceptive.

borovichok

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Quote from: palle11 on March 31, 2023, 01:32:11 PM

Newbies are not the only one prone to making such mistakes in the world of cryptocurrency because sometimes you also find out that even old crypto enthusiast make such mistakes or unintentionally fall into scam trap. The most recent is the ftx that both newbies and experienced people got trapped in it. Talking also on investment , it is not only the newbie that invest wrongly. In 2017 there was huge gain by investors but during the bear those who decided to continue hodling lost and that is just the way it is. In cryptocurrency investment you have to be smart.

Mistakes are committed daily in the market, and there's room for corrections and improvement. Projects dumps are not fixed or planned, they're just coincidence that happens in every season of the market, I guessed I was counted lucky not to be involved in the heavy dump of Terra Luna and FTX. These projects have been lengthy in the market, no one have an idea about their crashed, some of my colleagues lost heavily and that made them not to put all their trust for long-term projects because it's very risky. Holding on a project is never an option for me, I always figured out short term project that will aides me profits within a small range of time.

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Also, one mistake that I've noticed from beginners is that they think that trading is easy. And that's why they just copy trades and think that if someone is performing well, they can just easily copy those trades being done without doing their research. Yes, the choice of exchanges is a big factor and we know that many newbies fell to those unknown exchanges and they experience problems when they're about to withdraw their funds because they're not legitimate exchanges. They are there not really to give a good service and much worse if those exchanges are only there to scam newbies that they'll require more deposits before they release the funds being stuck there.

Bananington

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

You sound like a professional in crypto trading, we all remain learners in trading, because to maintain success in trading, one must commit to continuous unlearning and learning. A crypto trader that is old and decides that he can now place trades and make decisions without checking, researching and planning will soon begin to record losses in trade. Everyone in crypto trade has to be aware of the mistakes of staying with a crypto exchange platform that is having issues even if they have been using that exchange for a long time, you ought to know when to change the exchange you use. Old traders in crypto have to understand the need to never feel like they can do without research, researching has to be a norm.

palle11

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Quote from: teosanru on March 31, 2023, 12:48:48 PM

Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

I think this applies to every field. The beginners are called beginners because they get scammed or lose money due to their unawareness on lots of things. The worst mistake as you mentioned is going for exchanges instead of wallets and investing in shitcoins instead of good coins. These are two basic mistakes that almost every one does even most of us did. But obviously there are lot of resources these days where they can educate themselves even on the forum there are a lots of guides for newbies.

Newbies are not the only one prone to making such mistakes in the world of cryptocurrency because sometimes you also find out that even old crypto enthusiast make such mistakes or unintentionally fall into scam trap. The most recent is the ftx that both newbies and experienced people got trapped in it. Talking also on investment , it is not only the newbie that invest wrongly. In 2017 there was huge gain by investors but during the bear those who decided to continue hodling lost and that is just the way it is. In cryptocurrency investment you have to be smart.

death69

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Crypto greenhorns, stay alert! The crypto landscape is a wild, untamed territory riddled with hazards and threats. One misstep, and you may end up destitute and disenchanted. The primary error to dodge is selecting the wrong exchange platform – it's like backing the wrong horse in a race. You might think you're on the right track, but soon you'll find yourself submerged in fees and security issues. Additionally, don't be seduced by low prices. It's like purchasing a counterfeit item: it might seem like a sweet deal, but ultimately, you'll suffer from lackluster performance and remorse. And let's not overlook the significance of cyber security – it's akin to constructing a digital barrier to protect your assets from malicious forces. So, crypto novices, heed these wise words, and always remember: while investing in crypto is no laughing matter, there's still room for some enjoyment along the journey.

Fondarchand

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Aware of everything before joining crypto trading is very important and individuals also fails to get profit because they follows the strategies and rules of others and I think that a person should always follow his mind so he will be successful. Sometimes other person select wrong coin so if a trader follow him then he will also have the same future as that of the other person will. Trading is more dangerous than investment so if a person is new in crypto industry so he should have to take step towards investment instead of trading because in trading you have to make a quick decision. In crypto you cannot get profit quickly but you have to wait for appropriate timing and appropriate cost to give you advantages.

teosanru

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

I think this applies to every field. The beginners are called beginners because they get scammed or lose money due to their unawareness on lots of things. The worst mistake as you mentioned is going for exchanges instead of wallets and investing in shitcoins instead of good coins. These are two basic mistakes that almost every one does even most of us did. But obviously there are lot of resources these days where they can educate themselves even on the forum there are a lots of guides for newbies.

Dunamisx

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Many things were to be considered when trying to choose an exchange as a newbie, you must not make the big mistake of putting your entire savings on centralized exchanges, if you're investing on bitcoin then know that you're not finally decentralized until you decided to use a decentralized exchange for storing your asset, beginners dont give much time in studying about things that were needed before starting or choosing an exchange.

sulendra12

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Mistake happens, even the more experienced traders out there also vulnerable from the same mistakes like most of the beginners do. Sometimes you need to actually experience this kind of mistake so you know and aware about such thing and can avoid such thing happens again in the future, this also makes you a better trader as the time goes with how much situation you have encountered before.

Zilon

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Mistakes are part of the investment process. It is better to make mistakes early as a newbie with little capital and take the corrections, Other than make worst mistakes when the portfolio becomes massive, then it might even result to suicide.

I am saying this because i discovered no matter how much threads come out about risk management and how to limit losses in the crypto industry people still fall victims. I don't know if it could said that the do miss the thread or they neglect them. The best practices so far in the crypto industry are from those who have made their mistakes and taken corrections as suppose.

Smack That Ace

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

As a newbie, no matter how well prepared you are, mistakes are inevitable. That's normal and newbies should be willing to accept that. No one is successful or great without making mistakes, there are failures, and there are mistakes to succeed. And I rarely give advice to newbies because I believe they will not comply or follow, newbies often act according to what they think. My advice is to experience things for yourself, and don't be afraid to take risks if you want to succeed.

SirLancelot

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Though that's one of the basic things one should learn about when planning to start trading, I believe this isn't a very severe mistake newbies make when signing up and choosing an exchange. I personally haven't seen people complaining about choosing an exchange but rather they complain all the time.

There are a lot of other topics that need to be understood by newbies apart from this, and some even are more necessary, like the fact that cryptocurrency investments involve a lot of risks and that there are a lot of scammers out there who will snatch their assets within a blink of their eye if they don't secure them well.

AicecreaME

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You can't expect too much on a cryptocurrency beginners. It's normal to make mistakes and learn from them. You can't grow if you will not commit any mistakes in your life, and it can't be avoided. Newbies tend to buy random shitcoins because it's cheap and will sell it to an unknown exchange because it's listed there, the ending, they lose all their coins.

Not all of them do have time to do some research because they can't contain their excitement to finally make profits in cryptocurrency.

Hypnosis00

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Mistakes are very common for beginners, in fact, even old traders are also experiencing this because the reality is that there are no perfect trading strategies, and not all the time the market gives us a favor. But never take mistakes is a bad indication that we are not meant to be here instead, make this a reason why we have to improve our knowledge and be careful in our decision-making.
We have to know that trading is risky and it is possible to lose any time. That is why we should not take this as an easy job, it needs focus perhaps.

Rupok

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It is common to make mistakes in trading, especially for beginners. We also made some mistakes when we were new to trading. The most common mistake that newbies make is choosing the wrong crypto exchange platform and not having any knowledge about crypto exchange platforms.Investing in tempting offers of new projects without research and planning.A lot can be learned from mistakes. But now in Beginners & Help they are providing guidance on these issues, where you will get solution to all your trading queries.There are a lot of scammers in the crypto space so not everyone can be trusted so it's best to be cautious. Because a little mistake can cause a lot of damage in your life.Advice for newbies would be not to risk trading transactions with little knowledge.

harizen

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

That's why they called "beginners" in the first place. Do you expect them to already have a best and be skilled in doing trades right away?

Without those mistakes, how can even they be a good trader in the long-run?

Let those mistakes come to them as that losing experience will be their good foundation in becoming a good trader in the long-run.

Rigon

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Quote from: coinremitter on March 29, 2023, 05:18:07 AM

There are a lot of mistakes being made by crypto beginners. I think they made mistakes like choosing an inappropriate crypto exchange platform, thinking only about pricing instead of ROIS, lack of research and planning, and underestimating cyber security. If they were aware of such things, it will be more beneficial for them.

Mistakes but mostly beginners do. It is normal for them to make such mistakes in new situations. Once this new person gains experience from here, he will not make such mistakes more often. We have also made such mistakes and learned from them. But beginners will take some time to gain experience and then if they choose a good exchange for crypto trading and continue trading then their path will be successful.

It is not necessary to focus only on this issue, but the newcomers should pay attention to some other issues. Like firstly beginners need a secure wallet that is a software wallet but the seed phrase cannot be given to any second person and must be kept in a very safe place. Cannot invest in a hurry Investment must be experienced. Don't join any nonsense airdrop campaign since this is where wallet hacking is most likely. All these things should be looked at first but they will be able to work safely.

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