Bitcoin Forum

If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes

1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.

2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.

3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.

4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true

5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges

And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.

You missed one of the most important thing, let me add it

6. Not your keys, not your coins. Don't keep your coins on third parties (e.g. exchanges, custodial wallet), because it's not safe (your account can be frozen, hacked, or the third parties is scammer). You need to use non-custodial wallet (e.g. electrum, ledger)

With the recent number of social media scams, I'd put one more thing on the list: nobody will give you free money. Not even Elon Musk. One more thing is, I'd highly suggest starting to educate yourself about decentralization and your privacy. It's going to be more than worth it in time, trust me. There are a lot of things you may think you're doing right but are completely mistaken about :)

You have listed core mistakes that a newbie must avoid when investing in crypto currency, and you focused more on exchange and learning. For some reasons, i feel investing in a token requires research, not just the read whitepaper type of research, but core deep insightful research that gives you quick answers about what type of project or developers you are dealing with.

Also, when you say fake or low volumes; believe me those are not enough reasons to call a project bad o inadequate; it merely could just be a bad phase in the developmental stage of the said project; which is why i stated earlier that insightful researching is important. Imagine investing in a coin when it is so cheap and low on volume; then selling in profit when it gets listed on another exchange and builds up volume? Example would be kardiachain and pixby token.

My recommendation though is that, it is your investment, your funds, dyor and invest accordingly. Also, stay in line and always pick up your profits when they appear.

This is very important also. Thank you for the addition i cant list all

If you have any additions to what i just listed here please include it under this thread. Thank you

I talked about exchanges having a low volume not the project itself and i didnt say its enough reasons to call the exchange a scam. Many reason put together before you come to conclusion. You also want to work with known and popular exchanges

True. Don't invest if you don't understand what you are investing at. DYOR.

And as much as possible, you have the option to trade even without KYC like Binance with a limit.

It is ok to invest to a single coin but this is the most special case and that coin is Bitcoin.

Have a concrete plan when you will buy and sell.

This is important. Also they have an option to buy hardware wallets which will also help them have a peace of mind keeping their crypto assets.

This is the most used tagline on every investment. There is a future for some coins but majority of release cryptocurrency are only made to earn profits and gain some money from investors. So better to focus on the suggestion on the learning part cause a detailed analysis would help you gain confidence which one should invest with.

You can edit the list. There are some good suggestion OP that needed to remember when going to pursue trading and investing on cryptocurrency.

 nice try. But how do a new investor/trader know whether the exchange is fake or not? No one use any faulty exchange. Scam exchange only can deceive until people findout the truth. May be you are talking about ignorant people who doesn’t  even google the exchange.
I like your 1st point, the learning part. Knowledge is the only key to Success 

I am both disagree/agree a little bit with this, bitcoin alone is already enough and safe investment if you are holding for long term. But I doubt it will work on altcoins, because some altcoins is not really trusted we are not sure if it will recover after a crashed, so diversification is good option if you prefer to invest on altcoins.

Just a little tip for investors/traders: Always set stop loss  :D

Maybe this can help you out:

https://www.bti.live/

Education is really very important in crypto sphere, and you just don't get your hands dirty here if you don't know how the market works. And as far as crypto exchanges, first sign if it is faking volumes of going to scam is that it is fairly new and you can't find any single review and obviously not well known in this community. And then the coins that are listed are all shitcoins. So it's better not to put your money in these kind of exchanges and just trade on top tier, like Binance, Coinbase, Kraken.

fomo is human nature and everyone responds differently, which is why most people panic when the market goes down or crashes.
in fact this can be avoided if the person is used to the situation, because keeping the attitude and mind calm is the main goal in controlling emotions.

very helpful, but I think it's mostly for newbies to think about, in my opinion there are only 2 things, the first is not to store assets in exchange, and the second is to do an analysis of altcoin before you invest, that alone is enough

Yes, basically there are only two basic points that really work, but it will feel more mature if a newbie investor wants to consider the five points, because all of that will obviously really help him in terms of investment.

If I were to enumerate the ones that I have done, I guess it's about 3 of them.

• I registered in a wrong exchange and lost some of my funds in the exchange
• I rely on a single coin, Bitcoin. (I don't regret this btw). Maybe diversification on exchanges is better, IMO.
• FOMO time, I did a lot of times, with different coins, and as I grow mature in the crypto space, I relied on Bitcoin and not any other coin out there. Maybe coins for trading only.

I hope no one gets victimized by their private keys knowing that there would be no resolution to that but to create a new one, though. It's one of the key things one should learn when coming into the cryptocurrency space. Newbies should do the first one and NEVER skip the learning part. Almost everything is in here in this forum, and you just have to have the energy to read and digest most of it.

Most importantly for beginners, crypto price movements are very volatile. Crypto is not a rich way in one night, for that invest little by little and do not place your investment money in one type of coin

Your fourth point isn't confusing enough, FOMO is only bad for new coins and tokens, if Bitcoin is surging it's not that risky as new coins to jump in and invest, FOMO is good if Bitcoin and Ethereum or top 5 coins are surging

This is important. Important more as to advise against investing into a ponzi platform. This is good to be added to the list , for newbies to watch against such sweet promising  platform, money doublers etc. It is important to stay away from things that look too imaginable to be true in ROI.

Do not forget, also should be available backup, very dangerous if all money is entered in only 1 coin. I very agree on the 4th point.

if you say this then not all new traders realize this mistake, there are some old traders who still think like this, because they only seek profits and take advantage of the situation and conditions at the exchange place, so that with very much capital they can take advantage of fast movements to make a lot of money just overnight.

One more point to be added, especially for you that doing futures trading, which is "don't be greedy". If you already getting a decent profit, it is better for you to take some of your profit little by little, since there will always be a peak for the profit and it will not keep increasing. Putting a Stop-Loss is also important, so you will not gonna lose too much.

That's why don't be greedy at the beginning by looking forward to earning extra profit by investing in Ponzi schemes would finish your capital. Therefore don't take the self made the decision in the beginning take advice from person who have adequate knowledge about the crypto which could save your lot of money by making your losses minimum by providing genuine advice.

Im only talking about new projects even before you invest in bitcoin you want to enter at the right price and not jump in

I agree with these points and it is well arranged that I think it is also suitable for everyone in this space because there are still people using wrong or rather bad exchanges, fomo etc. Also, about your number 3, I think one need to have a limit to diversification of cryptocurrencies because many of them are not good in any way, hence having a limit is a good idea so that they can be properly monitored. Lastly, the number 5 point is very important, in fact before anyone starts anything within the crypto space, learning how to safeguard the private key should come first, so that all efforts won't be in vain.

And most importantly only invest what you can to lose, this is one very important point that most new investors don't think about thoroughly before making any investment, you have to be prepared for whatever the outcome and put the amount that won't hurt you too much if for any reason things don't go as expected, investors should know and understand the risk involved.

@op I agree with you completely, everything you said and much more should be put into consideration before we think of investing, we should always be careful not to fall into scam or be careless with our personal wallet information such as our private keys, I also love diversification, it is good to invest in more than one project in case of uncertainty, and never fomo on a project especially when the price has gone up a lot.

Thank you for the addition. it is also very important when it comes to investing

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I really appreciate your contribution. This thread is just for beginners to know what to do before going into crypto investment

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For day traders stop loss is so important when it comes to trading never trade without stop loss

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Its always so obvious to identify ponzi schemes. Newbies will want to stay away from that. i will also create a thread on how to identify pozi schemes as a newbie in the crypto world

[moderator's note: consecutive posts merged]

I agree completely with you. Never keep funds on exchange. Binance got dealt with and other smaller exchanges before it. For those who lost during those hacks, they may not have recovered fully. No matter what the promise is, your wallet is still the safest.

Apart from. Doing analysis of coins to invest in, I will advise you get a good wallet and store your private keys offline. Anything apart from that makes you prone to hacks and theft.

Don't be caught in between. No one wants to loose to hackers.

I believe there are good project you can diversify your asset in. Its just you have to identify them. i have at least 5 project im putting currently investing. Diversification is important

Indeed these are very important, as for me, when I was a newbie in investing, I have a lot of mistakes but I'm thankful that wasn't costly to me and I really learn a lot in the process. I loss money because of phishing attack, and my account is not on 2FA, but now I learn and got matured a bit,  when it comes to investing too, it's advisable  not to put in one basket as we need to diversify, but we also have to make sure we make a research to invest on the right coins as it's still useless if we diversify but we invest on the wrong ones, you know number of scam projects are bigger than the legit.

Shouldn't we must learn the basic of trading first before picking any coints to invest and trade?


True that but do we have a choice if the one we are holding has only one exchange?  Most bounty participants are forced to register to different unknown exchanges because it is the only place for their received token reward.


Diversification is a good thing but you should remind readers that too much diversification will suffocate them.  Just diversify according to what you can handle.


Well research is the key. Better study first before deciding to join the wagon or not.  We might miss an opportunity if we shut our doors without doing any good research on the current trending market.



If one care too much about having a private key I think it is best to use decentralize exchanges if we decided to trade.  That way we have the privatekey of the address we use for trading.

One mistake that we must avoid as well is "never invest in a new coin/token only by considering the rating from some crypto sites/channels". Many crypto sites/channels are paid to give a good rating for some new coins/tokens. So, don't instantly believe in them without doing your own research because the rating may mislead you. Learn deeply the potential of a coin/token that you are interested to invest. Read some reviews and discussion about the coin/token, also check yourself the WP, the team member identities, and their channels. Don't buy the coin/token if you got something strange or suspicious.

Newbies still use unknown crypto exchanges and after getting scammed they will raise alarm, even small exchanges are risky not to talk of unknown exchanges, developers too still use bad exchanges for their projects and they always come out with bad ending, lack of volume is a bad sign that a project won't do well

That's so true! Never believe in unknown crypto exchange platforms and even small exchanges. I only trade in large exchanges such as Binance, Bittrex, etc.. Also, I only invest in projects that are listed on large exchange for my safety. A good project will do everything to be listed on the large exchanges, though, there is some exceptions. However, most of the projects that are listed on small exchanges and unknown exchanges don't have the real potential to pump or even turn out to be scam projects!

New market exchange are of course suspicious but there are still new market that worth using. All top exchanges are good to use cause its potential are pretty well known already. These guides are helpful but most of the beginners never listen any of these suggestion and believing on scam proejcts they saw on the internet like the send bitcoin to get double bitcoin. Holy crap, of course these are all gimmick and just a trick to scam you. Never believe on that shit. If money giveaway is too good to be true then doubt it.

Relying on a single project isn't good, having Bitcoin only in your wallet is a bit better but still not good enough, create better opportunities and build more chances for yourselves, have more altcoins and tokens, it won't hurt

the first point is very important. people who come to the market just want to make a profit and not even study the direction in which they are investing their money. it's very funny to see.

Truly avoiding all the points is necessary, when investing in cryptocurrency, investors must understand there are certain to avoid, so as to meet certain desire targets. Additionally investors needs to watch out for the best project to invest in and not just investing on anyhow project that may exit scam anytime.

All the work we have done does not hurt, we just have to know that every work has good and bad levels, now creating good opportunities and building more good opportunities is not easy and very difficult, but having a little bit of it can still be said to be good even though it is not enough.

Very nice tips pointed out by OP on mistakes to avoid in crypto investment. The most important point to me is understanding what you are about to go into, the risk involved and strategies to follow up your crypto investment. For someone who wants to go into trading, mastery of technical analysis is a must IMO. Also, you don't just begin trading with leverage trading using 20x and more on leverage, no!. Start small, grow your capital and don't invest a bulk of your capital in crypto at once, if you ever invest a lot in crypto as a newbie, patience won't be on your side and thus you will make wrong decisions.

Be ware of HYPES and FOMO, some projects are bad to begin with but just because they are pumping to get dumped some will start hyping them on social media like Twitter and Instagram, it's all a plan to get you lured and once you are in they will dump on you

As a newbie always make sure you store your coins and tokens on a popular crypto wallet that gives access to your recovery seed or private keys, some crypto wallets like free wallet and Coinbase are Centralized company that keep private keys hidden from users, stay away

The thing with altcoins its more risky than to just invest on bitcoin alone, we don't know if those project are gonna be around in the future, but if those projects succeed the payoff is huge.

Also don't trust any exchange blindly even that's binance or kucoin. Always try to hodl your crypto into your own wallet if your aren't a regular trader. Besides, anyone can detect the fake volume by monitoring the trade feeds for sometimes. Actually fake/bot tradings are usually occured between the Buy and Sell orders. For an example: If sell order $0.5 and buy order $0.45, than fake/bot trades will automatically happen between  $0.46 to $0.49 which will be showed only the trade history options.

Most people in the crypto world want to deceive you, be prepared for the most cunning schemes, where you do not expect.

Although it is risky, people tend to buy altcoin, hoping that they can make more bitcoin, and right now, I think some people already make a profit from that, and they are waiting for the bitcoin price is back to the higher price. Investing in altcoin will be good for them, as long as they can select the right altcoin to invest. They can only do that by analyzing the altcoin from the lists to find the altcoin. But I think the altcoin can work for a short term investment because there are too many altcoins at the market.

First thing every investors should know is that you never loose until you sell, as long as you made a wrong selection in your investment,never panic sell just because you saw your coin dipping, hold and wait for it's time. Also make sure never to invest only in a single project,you can diversify your fund,then make sure to hold your asset in your private wallet .

unfortunately many people use shady exchanges because they are dark exchanges that list most new projects, which means that most people are left with no choice


honestly investing in bitcoin and altcoin is not diversifying investment in my opinion. diversifying would be to invest in cryptos, gold and buildings


I agree

just buy a crypto currency that is already in the top 10 coinmarketcap, or buy in binance,
don't follow an obscure ICO or IEO, of course you could be hit by a scammer

Cryptocurrencies are a new form of digital assets? No bro, cryptocurrency already exist for so long, bitcoin since 2009. 11 years is not new

If you are worried about the future of cryptocurrensy, I think you should look at the bitcoin price history https://en.wikipedia.org/wiki/History_of_bitcoin

You should change your perspective as any IEO that ran on the major exchange site like OKEX and BINANCE will always bring very good profit for buyers and I think that's not true at all to call both ICO and IEO were scam.

Such points are pretty impressive and indeed those were the common mistakes that most newbies have been doing for quite some time whenever they enter this industry and started to decide to get into investment. To make those good points be made into simple, basically you need to entirely educate yourself of all the important matters that you needed to learn not just about crypto investment or trading but into the whole usage and importance of cryptocurrency itself because if you did acquire needed knowledge, then those mistakes will be avoided due to the reason that being knowledgeable will keep you safe at all times and may lessen the chances of committing mistakes.

Always keep in mind the learnings you do obtain on familiarizing yourself about crypto because those knowledge can be useful in all manners that concerns cryptocurrencies. With regards to crypto currency trading and investment once you have already learned everything needed to analyze the coin you wish to invest, still take it slow on investing only amounts you can afford to loose just to keep on track because doing that will also be part of observing the coin's behavior to fully interpret its capacity to give you gains or losses.

These are really good point to notice for newbie investors. All of these are important but specially choosing a proper exchange for trade/invest and take care of privet keys are the most importance one. If you join an ieo event then make sure that ieo platform have much reputation. Otherwise your asset will be on risk cause out there many scam exchanges running many scam ieo.

This thread is very useful for newbie. Because when they come to the crypto market, they put themselves in danger by seeing various interesting advertisements. No one will give you free money, those who claim to give free money are scammers. Scammers always promote big offers so that newbies fall into their trap.

Another point is, never to use the exchange to hold your crypto asset. Because at any time there could be a major attack on the exchange and you could lose your entire fund. So care should be taken in advance

I will encourage everyone with good advise to pure it out here for newbies to learn. it is important now that we are in the bull market. many will try playing the gambling game buy invest almost everything they have and might loose it at the end. please do not invest your life savings in crypto. it might dissappear or you might not recover it.

I have said that diversifying even outside of crypto world is the way to go, diversification is the most important thing in the investment world and being 100% in crypto is not a solution even if you invest into multiple stuff.

I would say depending on your money you could go for a lot of stuff like forex, stock markets, gold and stuff like that, even real estate because let's be honest bitcoin or crypto alone couldn't save you, there are a lot of times when crypto does go down all together as well and there is not one that goes up. Hence why diversification outside of crypto is crucial when you are making investments, you should always look for other stuff as well in case of emergency and you should have as much fiat in savings and liquid as possible to make good investments when you see one.

They'll be safe if they will do all necessary research before investing, it's a must and very important  so they are not jumping that quick without any knowledge about the investment that they are participating with.



Very True, never to entrust your investment you need to work with your research from that point you'll be able to pick the right project for you.

These are parts of the mistakes not to make but there are several more. One thing about cryptocurrency investment is that the more you're into it more you learn.

Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.

Great point. Whats the point of buying ICO or IEO for the price of a good project that is on top 50 of coinmarketcap. Lot of nonsense projects are out promising things that are not possible. Its better you go for the ones that have done it for years and have proved themselves

That's what we do when we are investing, we are always positive that the price of our coins will rise and we can sell at a good profit, but sometimes our expectation does not happen as we can't say we will be right all the time as this market alone is every unpredictable, learning from your mistakes should be the best way to do to finally get the success in the long run.

Same thought as me! Of course, when we investing in any project, we have to believe that it will have a certain chance of being successful. We need to be positive in our investment, though, we also need to be wise! Personally, the most important step to me is the to do precaution! I do all the hard works such as doing research, looking for the successful rate of the project, etc.. When I make my decision, I will not be too hesitate!

1. Don't invest on new coins that aren't  popular or have popular partnerships

2. Don't invest on new coins that only want to list on p2pb2b exchange or other small exchanges, they always have wash trade and fake volumes

3. Go for top altcoins that are still cheap, they protect your neck more than new altcoins in crypto market today

Exactly, investment in crypto is just too risky.  You can gain the double of what you invested in couple of days or months, as well as lose everything within same period.  Only invest what you can afford to lose.  Furthermore, it has been advised several times on this forum that, if you're a newbie investor, try and stay away from the new projects until you gather some Knowledge and experience about the space expect you have an experienced and trustworthy investor that can help out, better still, invest what you can afford to lose on the top 10 ranked coins/tokens on coinmarketcap.

FOMO isn't entirely bad, it's just that it's a dangerous tool from new projects with small market cap, FOMO should only take over you if it's on Bitcoin or top 5 altcoins in crypto space, stay away from small altcoins with low market cap, they create FOMO only to dump on investors

Yes, obviously the things you mentioned are things that are always experienced by many people, including myself, because in the past when I became interested in crypto and investment, every day I always take the time to learn new things in crypto and investment methods.

Indeed. You should always take your time to learn and explore new things in the crypto world because we won't achieve our goals with cryptocurrency if we won't work hard for it. Also, you should learn how to control your emotions when you are investing in crypto that you shouldn't let your greed overcome you because you could lose your funds.

Basically investment should be made after clear understanding about the project but most of the people here are missing out it, they are running behind a project which advertised by top exchange and influencers via different social media platforms.And also avoid investing on new project on this most of the people won't agree but in reality crypto market is overwhelming with new ideas and projects so none of them are getting real attention.

actually not only beginners, but old players also still often find a mistake, especially when there are new projects. without realizing it, everyone including old players must also be interested in new projects that are not yet clear how it ends. but the difference is, old players will decide longer and will do the analysis first. yeah right, this is an important explanation.

I totally agree with all your ideas, but in the world of cryptocurrency the most important thing is to dare to take risks. The price of crypto which is very volatile is not intended for those who are timid.

1.Invest money that you're not willing to lose
2.Panic shorts when the price goes down : to not confund with calculated (and for me, good) shorts when the price goes down in crypto projects you really believe and so, just in order to see the price goes even more down and buy even more of them than how many you shorted.
3.Not use stop-limit orders and price alarms (without abusing of it of course in the risk of becoming crazy)
4.an obvious one but only watching the numbers and the curves without looking at the content of the projets and the news about it,crypto world and in general -virus,war,oil price,crisis,etc...- (classical trading advises of course)
5.a bit the reverse of the 2 but shorting too early when the price skyrockets despite the fact you truly believe on that project to have even more potential than that.

Actually, 2 and 5 can be summed by "stay calm and composed and think clearly about the bigger picture whatever the price movements are"

Although I have been in the market for nearly 2 years, I still cannot avoid the biggest mistake that is FOMO, especially when the market is growing strongly as at present. At that time, I broke down my own rules and bought crypto at very risky prices.

Almost every month, similar posts are created - but still there are newbies who come to the market and think that they are the best.
Can you stop writing like this and switch to the "survival of the fittest" tactic as the usual (and any) market works? No one here needs another suicide because of drained credit money or some other nonsense. Those who ready for real investments will deal with this world themselves - there are plenty of resources.  guys with negative IQ are definitely not needed here.

Many people have the same thing as you, and we still trying to control ourselves from the mistake. Maybe we feel it is difficult to control, but we still need to try no matter if that will be hard because only with controlling ourselves, we can stay calm in any situations and avoid to make another mistake. Buying the coin when the market growth is too risky because we don't know if the price can still increase or not, so we need to calm down first to see the chance.

All you mention would be really helpful but i cna say that if you are a newbie, you better Do Your Own Research (DYOR).
Not everything you hear from a friend or someone else is right. And ofcourse Invest what you can only afford to lose so you won't cry later.

Every newbie that got in here and are still not familiar must start from the basics of learning everything about cryptocurrencies to avoid or lessen committing mistakes with regards to investing with cryptocurrencies. They must know first what they have got into and acquire knowledge that they need to be able to be familiarize on everything they must know. Doing research is really a great help for better understanding. Once you have acquired knowledge, that is the time you get to explore the investment part and do the same thing of understanding how investment works and apply what have you learned on familiarizing yourself about cryptocurrencies in the market.

Investing into old and reputable coins will be a good start to have your journey on investment. Although some new coins have potential to be profitable, still it would be safe for a newbie to try investment first on known and reputable coins because new coins are risky most specially for the newbies. Learn to take hold of your funds. Upon investment, learn the thing that many people here in the forum always say "Invest only the amount you can afford to loose" because it will serve as your limitation and starting point upon doing investment so that if ever fail investment comes, you can easily move forward already taking no regrets.

To cut it all short, being knowledgeable on the thing you want to get with will save you from committing mistakes so better start up learning and the rest will follow. Do not rush things into your way because regrets always comes last so better take it easy on having the basics.

The main mistake in my opinion it buy on FOMO when assets already cost a lot and sell on the panic when it suddenl fall down. Investor shoul be patient and wait some correctios to buy and don't be greedy and sell when asset already gave you a good profit(it is better to try to find  a new idea which give you a new profit)

Nice tip and suggestions you have over there but you missed out to point the most basic mistake people when investing in crypto currencies. They forget to move their coins to a secured wallet of their own. A wallet where only they have access to their private keys.
Doesn't matter if your if you have 2 factor authentication enabled on your exchange account. If the exchange gets hacked, and loses everything, you will also lose all your coins! Look at those exchange hacks and how users were affected by it. Never hold your coin in an exchange after you are done trading.

You have a point, the very important is when investing in crypto is educate first ourselves to know more about what you are investing. Because some they just invest without doing some research on a project and also just relying on from others. There's a mistakes especially to a noob in crypto but these mistake will gives you a lesson to learn.

Keep understand clearly nobody can't give you free money in the crypto market so if you want make money then keep working your own knowledge. Without research if you do invest a project then nothing profits chance and high risk for loss your money. So everything depends your own skills so go and study about crypto market.

You are absolutely right. Depending on other speculation doesn't help for a long time! Researching is the only way to improve someone's knowledge about the crypto market and to invest! Though anyone who don't like researching, they can depend on Bitcoin, Ethereum, Link, XRP for the investing, because these are risk free investment in crypto!

1. Don't buy new altcoins that don't have good use case
2. Some use cases are useless but can be attractive to new investors because they have no idea what's going on with the projects use case, some fake use cases like gold and silver backed tokens aren't real

There is no better way to say it than you ve said it already, I really will like to know possible sites or YouTube channels where one can learn about blockchain projects, how they work and how one can actually be a part of it.

There're more mistakes that can be made when we invest in cryptocurrencies. It's not possible when to avoid which mistake, all that depends on the project you are planning to invest and your research. Definitely investing is risky, but without risk, there's no gain. We are risking with investing and we are aware that we can make a mistake, that is normal to make a few mistakes, as long as you are profitable on majority of your investments.

These are indeed good advice for newbies as many always come into Crypto thinking it's a get reach quick project forgetting there are ups and downs so to curtail the huge heartbreak it's best they listen and take the advise especially buying of coins, knowing the project to invest and also investing but just in one projects helps to curtail loss. It's a good advice.

I want to add one, don't go for the low price or the high price. because the price does not determine, but what determines the most is how the coins work in the market and the volume of the crypto coin to be used as one of the selection options.

the fourth and fifth points are often the cause of new investors or newbie's losses. Fomo, hype, etc. make the newbie panic and want to join without thinking about the long-term effects on the investment chosen. easily provoked with big discounts, and easily influenced by people's assumptions that are not necessarily right.
because they do not understand the crypto ecosystem, often the level of security and important keys are not managed properly, this must be understood first. do not let your money disappear because of carelessness.

No one gets rich in crypto without working so hard and making deep researches in the first part of learning. Investing in crypto is really risky as it is so you need to prepare yourself for more losses than profits particularly if you're still a newbie. And yes investing in a single coin is not advisable as there are high chances that you will lose everything your assets in just a blink of an eye so you need to study numerous coins and how they move in the market so you will learn how to diversify your investment.

We should wait for a low price, if somehow we missed Binance IEO. You know Binance listed coin has a huge volume and most of the time these projects are doing perfect work as promised. I know, we shouldn't invest only in profits but most of the investors do. If you are looking for higher profits than low price and high sell is also a matter.

This is truly a nice advise you write out to help people overcome trading and investment mistake. However, i think not only the newbies needs to pay attention to it but also the experts as constant reminder helps overcome mistakes better. All the advises are on point but i want everybody to pay attention to the last one that talked about security as it is the ultimate key to protecting one's investment crypto space

Agree with the lists you have. These are my struggles when I was new in crypto, I have been investing out of FOMO, using the wrong exchange even tho there is a bigger exchange with higher volume, keeping the private key or securing the files for my wallet. I have experienced almost all of the most common mistakes done by newbies and some of my experiences had cost me a high amount of money, all of it was charged to experience. It's okay to commit these mistakes as long as you learn from it.

Every people needs to know how to avoid making a mistake, not just the newbie. Even for the expert, they can make a mistake because they can not always control themselves. The control will be necessary because that can help us avoid the mistake, and we can think clearly before we decide. Security will be the important thing that we need to concern about, and we need to try the best we can to protect the asset.

And never ever loan, borrow money from someone of in a bank or credit card and it put in investments or trades cause you really don't know what you up to, it is too risky too make such moves. Better have or own money and make your own decision in order not to regret once the unfortunate things happen.

I would rearrange those in this order - 14532
But besides arrangement your advices are extremely helpful and most of crypto newbies should see this on the "crypto market entrance"  :)

When someone use the loan to trade or invest in crypto and he must deal with various risk and the important thing if he must also repay his loan with interest too and that makes investing in the crypto use the loan is very risky.

to point 4: When you see everyone buying a trending coin, then it is the right point to sell this coin, otherwise it may be too late. And another point: rely only on yourself and never on different gurus

Yes, on the one hand you must be able to manage your financial management properly. I mean not only depend on one coin. if you have a lot of capital then consider investing in some of the top coins, at least you can get more profit when the coins you invest have high selling prices in the future. on the other hand investing takes time, you must be able to be patient and always monitor the market situation or the coins that you invest too.

Very informative and educating content I must confess. I never really got this piece of information when i started, else, I wouldn't have made the mistakes i made earlier in my crypto life, but i have come to learn it the hard way and it has remained a scar that contnuously shows me the victories i have won in  the battles.

When all the mistakes can be overcome properly, there are still mistakes that are very difficult to avoid by some investors or novice traders, FOMO. FOMO will be related to our mental readiness. When FOMO happens, there will be a lot of hope that will keep us going. It's a good FOMO to avoid being stuck at high prices. The most difficult mistakes are mistakes related to mental or psychological. It takes some practice and self-understanding to avoid being too greedy and must remain complacent.

Avoid projects that aren't fully transparency, if you don't or can't understand how a project works or functions and the team aren't doing anything to make you understand better it's a sign that the team have no good aim, better go for another project before it's too late

Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.

Newbies cannot do any research. people just invest money and only after they lose it they begin to study project models and learn to distinguish scammers from normal projects

Newbies usually do what most people tell them to do, most newbies buy and invest on coins/tokens which is recommended to them by the person who introduce them so it is very easy to fall as victim in bad project, so this type of advice will be very useful and helpful.

Really ? Did they even know blockchain before Bitcoin was born? It's hard to believe words like this, If they have known blockchain for a long time, why are they starting to create a project now?

If you wanna succeed in making money then you need to avoid FOMO and jumping in. Also understand that if it's not your keys then it's not your crypto even in the trusted exchanges, anything can happen.

After looking at the project utility and the team themselves make sure you invest only what you can afford to lose, we can never predict what will happen to a crypto project after few months later, this is the best advice i can share about this

Avalanche CEO is a big blockchain programmer who already existed before Bitcoin, there are few coins that existed before bitcoin but aren't successful, these coins are from AVAX CEO himself

This is also important especially to newbies just invest on what you can afford to lose. Not all crypto are profitable and legit project so we have to checked the project if we're planning to invest. Also the best is diversify our asset this could safe us from losing our money. Know the risks or else we will earn nothing in crypto.

Hey man, im a newbie in this crypto exchange stuff. Id like to say thanks, for a newbie it is kinda easy to get scammed at the start. Ill be sure to keep your advice in mind. Thanks again.

It's best to take some time off to study about the cryptocurrency industry before getting involved in the space. One of the reasons why we have many people falling victim in the space is because several people don't know the do's and dont's of the industry. This post is awesome and I hope more newbies go through it.

This information found on this thread is very crucial to be considered especially for those are new around here.
Knowledge about crypto industry is vital in order to survive and thrive with how things are working in this platform.
Study, know your limitations and expect to experience failures but do not give up.

People who made huge loss in crypto because basically they don’t know what they’re doing which we probably made the same mistake, some are likely engage in scams first before they know how crypto works. Nobody will educate us about crypto instantly so basically studying or knowing what you’re doing is the key to minimize the risk in any kind of investment.

It's okay to listen to the advice of others; But to make it work, you need to check if the advice is correct. If you rely on the advice of others, you will lose your capital. So for this you need to know a lot, do research, whether the project you want to invest in is fake, whether the project team is active, you need to know about the exchanger to invest in. In addition, you need to keep your various account passwords and private keys safe.

Great, this is what newbies need to learn before they want to enter this market. They need to know the security of their accounts and computers, then need to diversify their investments and have the knowledge of choosing altcoins. Especially need to have a good mentality when trading and avoid fomo in this market.

Being too excited is not a good thing in term of investment. Indeed, cryptocurrency investment can be said to be a profitable investment, but if we make a few mistake, the effect will greatly affect your existing capital.

I am not sure any newbie investor would dare to put a lot of money into cryptocurrency without knowing how this cryptocurrency investment work. Another if they get caught up in a scam like a ponzi scheme that is widely circulating on social media. Confirming what you say, experience and knowledge sometimes come from mistake we make.

Yup, never to skip the learning stage. What your friends tells you about cryptocurrency is not enough to get you through this.
I got to know about Bitcoin and other cryptocurrencies when I was at the hospital for a visit with some of my friends and they started talking about crypto mining, I got interested and joined the conversation.

They thought me a lot and also sent me the wallet to use, but I didn’t stop there, I still went home and started researching the things they thought me to know what’s right and wrong. And I went deeper into everything to understand it better. So newbies should never skip the learning.

good one. I saw few of these under different famous people name and surprisingly people sent them money. Its always a good idea to invest some time in reading what other people have to say and learn from their mistakes rather than making it on your own and learning it hard way.

Always go slow. You dont' want to spend too much in crypto and then end up losing your asset. Invest what you can afford to lose and don't make it too much. Diversify your investments and don't put all your eggs in one basket. Keep yourself informed and control your emotions when investing.

you can only act quickly if you already have extensive experience in this market. very often it happens that the fast person earns a lot. but if you are a beginner then it is better to be very slow

It is indeed advisable for the beginners to observe on the experts while learning by doing and applying those lessons and techniques they have observed from the experts in order to earn a lot like for example when I was a newbie here, at first I don't post or comment on the threads but instead I read a lot of threads and topics in order to gain ideas about crypto currencies and etc because when I entered the crypto world I dont have any idea about what I am going to do.

Most times people also invest into tokens just because they exist in some exchangers that are seen as top standard and over time, they get delisted also because they lack transparency and maybe their team encountered a challenge in-house and they decided to compromise the project. Always ensure to follow up on  projects even after investing.

Using a bad exchange or any of these fake exchanges owned by scammers is the worst mistake you’re ever going to make. I know someone who sent up to $7,000 to a fake cryptocurrency exchange.

By the time he wanted to withdraw that money, it wasn’t working and he then started asking question in a forum, that’s when people looked into it and realized that the exchange was just another fake exchange. I never made that kind of mistake and I don’t understand why some newbies are making that mistake, is it that they don’t do research to know which exchanges they are supposed to make use of or what? ???

If you are a newbie you should observe first, seek help and ask to the professionals if what tips, advices or techniques they can suggest to you in order for you to understand what's with the crypto world and how are you able to earn here. When it comes to the exchangers you should do a research before using a particular exchanger in order to avoid involving in scams.

Add more point and i think this is very important.

6. Don't easily to take KYC when invest in new project/exchange.
This is very dangerous because your identity is more inportant than your investing.

Thanks for adding this. This particular point is very important; "invest only what you can afford to lose." While I get tempted to take loan from bank to invest in crypto, I do remember the risk involved and how things can easily go wrong.

And again, never hesitate to use stop-limit orders.

We that could be right but I think all of these can be done using our common sense. There are many things that could be consider as NO NO when doing an investmeny in cryptocurrency. In my opinion first of it is all about no to invest on ICO projects, no to get attracted on free token like airdrops, not to believe team promising to double your money fast and easy and never ever attracted when someone has a good offer and you should only imvest a little. It is a scam project that your even the minimum funds they will get from you.

I have a bad experience like point number three that you mentioned, since then I also never invested money in just one basket. and what everyone needs to pay attention to is never to trust a new platform

Without apps development, we can't control all of this problem. Here I want to share some problems with "two factor authenticator". I sent several emails to Google that we need an option to change all authenticator code from Android to iOS. We can't send them all from Android to iOS, but we can from Android to Android without any security!

This thread is very informative especiallly to those who are new in the crypto society and wanting to try investing to it because they can have knowledge on how avoid a wrongly investment.

I agree with you, put all your eggs in one basket is very risky, and the worst choice to investing in crypto. Better to invest on the best 10 high volume coins, and trade it daily. A small profit is good for a newbie, and then you will become an expert day by day.

They should also know anything can happen any time. Despite the security and assurance in any coin or exchange. So, staying on their toe that money can be lost is also important.

Just to add some tip. Before you invest to a particular ICO you need to check their progress. Does it seems like they're on their way as they promise in their plans? Also if the coins in market are not active don't invest on it. Sometimes you can see them at high price but low quantity.

Thanks for those instructions, we as crypto investors and traders, we got used to secure our funds and our coins. We trade wisely and i got used to swing trade sometimes, diversification isn't my type of investment as it might bring some serious losses too if you get the wrong coins in your pockets. It's always recommended to research and to analyse each step before doing any movements, luck may be a factor too in this field but in most of the cases there's a loss risk, our mission is to lower that risk and to try to make the biggest gain possible without any greed. Newbies must learn, that's a fact, coming with a million dollars without a plan might make you close the account having 0 as a balance. BE WISE.

Very understandable, and it sound perfect. Maybe the practice can still be different from what is said. Big risk for big profit, and small risk for small profit.
Experience will lead us in the right direction, its just that the luck factor is sometimes not on our side. For thing that are hard to predict like crypto price, I think the luck factor is the hope of all trader because crypto price fluctuate all the time.

yes, some pretty good suggestions, especially for beginners, at least the suggestions above can minimize investment losses. Besides that, you also need to pay attention to financial management, my advice is not to invest in one coin, if you have a lot of money, prioritize investing in BTC and set aside some for top altcoin investments.

You've read the topic inattentively. It was the third advice.
P.S. I want to add something. Protect a crypto wallet with two-factor authentication or buy a cold wallet to maximize your security.

We need to learn how to make sure that we are doing the right thing to ensure the security of our assets
while we are inside this business.


Better to think and assess before taking your side, there are many opportunities if you are willing to take
the extra time to analyze.

Luck adds up and sometimes bring you really fortune to earned much higher than you expect.


Those too good to be true practices should be avoided, do your DYOR to lessen the risk of your investment.

Fomo DeFi is currently a trend. Many new projects claim to be DeFi, DeFi and DeFi. That will leave beginners feeling confused, what is feared is that these budding investors think DeFi-based projects are sure to be successful. in fact not, it all depends on the team, product and some things that are important in the project.

Quite true. Bitcoin was enough to leave your investment however, there are some cases that Bitcoin won't be profitable in the meantime that is why you better have another coin to invest with. You shouldn't worry about what coin to invest because you can look up to the coins that are behind Bitcoin like Ethereum, BNB, and more so basically the top tier token. Usually, they positioned at TOP 100 and you could look it in coinmarketcap. Besides, the more coin you were to invest the more profit and safer you'll get.

Some points that you have mentioned is very true. We must always research about the projects before we will invest on it.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.

indeed investing in altcoins has a very high risk but you must know that behind a very high risk can provide a lot of profit, meaning you have to be brave with the risks that exist and face them because if you just act, make sure to also invest in altcoins that have a supply. which is very limited so as to minimize the existing risks.

It is what newbies aand also people that said they are "experienced" at trading struggles to including me. They always do overthinking stuff, but they always don't remember about basic stuff such as investing on one basket or even keeping your assets on exchanges that you don't have access to the private keys. Either newbies and pros should definitely take a note on that.

I usually does that. Whenever i invest in cryptocurrency I invest what can i lose. So I do not invest too many money because crypto ico/ieo project can be scam in any days. Everybody need to follow this rules.

You are absolutely right. The points you are mentioned is really good. Most of the new comers come to this market and they don't want to wait. So without any knowledge they started to invest. And most of the time they end up in loss or scams. So this is why watching the market is very important and learn about it. And yes many of them rely on one coin and most of the time that coin is not bitcoin or any high cap coins. If you are new don't take that much risk. Always devide your asset into 3-4 or more parts. And always think about basic security management. That's also very important.

I like the fact that this advice comes first and it is the most important of all, which could also take care of others. The urge to make money from crypto like some others do push many people to fall into scam or make big money mistakes in the space. I think this forum should take care of most of the challenges. I didnt realize so much the forum can offer until 2 years pass, most topics that could help every newbie is here and opportunity for question and immediate answers by long time members is available.

Those explanations mentioned above is really helpful especially for the newbies. We have to be careful in every investment that we want to do in order for us to so keep our investments safe. In addition, as a beginners make sure to always understand the basic article used do not depend in your own way have deeper research because if not it will definitely harm yourselves. Most importantly, choosing whats good coin in the market is very important in investing.

I think the above mentioned is correct, it is good that we have guidelines especially for those who are new to crypto space, this will help us to avoid things that we may regret in the future. And one more thing always keep in mind that if you are beginner try to invest first a small amount and let your experience lead you to become proficient in trading.

Even after learning about how to safeguard your coins and how to avoid unnecessary losses every investors must invest only what they can afford to lose, this is the best crypto strategy you can share with anybody, the lower the risk the lower the losses

It seems that now people understand it. However, do you remember 2018? After the huge in the crypto history market rise, the crypto winter came. Thousands of people literally lost millions. They decided to catch the last train when BTC reached 19-20k, and they were told, it would be offered for 100K.

The worst mistake people make when investing in crypto is not taking into consideration risk management. No matter how hyped a coin might be, risk management is very vital while investing. Take for instance, you bought a, coin with 50% of your entire holdings and the next moment a strong FUD sets in, you will be extremely emotional at this point since you put in 50% of your portfolio and hence won't make any valid decision at this point when highly emotional. All the other points mentioned by OP are very essential, thanks for that.

Agree that we shouldn't invest in just one coin or project. The price of cryptocurrency is very volatile and the risk is high enough so it would be better if we spread our investment on several projects because we cannot predict which project will bring big profits.

This you may have forgotten about why you entered this market. So not to draw lessons like this will help you improve your self-worth as well as your abilities, most likely newcomers will experience such things, it can make you bored. be discouraged but consider everything your motivation, and determine if you can lose it as well.

Before you start investing your money somewhere, you need to study both the crypto industry (at least basic concepts so as not to get into a puddle at the first transaction) and the project that you are ready to add your funds to. There have been cases when people on the wave of hype did not even really delve into where they invest.

Crypto is hype in general in my own observation, that alone will make us be more careful when investing as usually who fall for this hype are those investors with lack of knowledge, and even if you are knowledgeable, you should still learn how to diversify your investment as that is the only key where you can minimize the risk and you can survive while investing.

Of course we aim to be profitable but we don't need to go aggressive on few coins only, the market is getting bigger, so learn how to diversify.

As you can see the projects in this space are all over-exaggerated, so it is extremely important to have an easy investment plan. During the planning process you will gain more experience in this space. Moreover, I see that the problem of mistakes is not too big in this market, even when such mistakes I hear and advise from many people, but when I join the investment, everything is the same I still put the mark on that mistake because it's psychological control.

There is no way one won't lose in the process of learning but not learning at all will bring grave losses, newbies must put learning first to avoid falling into many traps that are available in every corner of crypto world

Newbies must also learn to control their taste of greed, this is where FOMO overpowering comes into the game, don't invest because you want to make gains, Invest because the project is very good.

Skipping the learning part is one of the mistakes that should be avoid by all of the investors, a lot of newbies are losing because they skip the learning process wherein they are focusing on the rewards first than in the learning process. Investing is not just about putting your money in a project or in a specific token, it is a continuous process wherein you need to gain a lot of experience and skill in order to become profitable. In my own observation, the reason why a lot of people skipping the learning part is they are too lazy to have an education where they want to earn money without sacrificing time and improving their knowledge. They are thinking short term wherein they want to become millionaire after they just make an investment. If we focus on learning process, there is a high chance that we can become successful in the specific investment that we would make.

The main highlight me is understanding what you are going to go into, the danger in question and methodologies to catch up your crypto venture. anybody can identify the phony volume by observing the exchange takes care of for now and then. In reality counterfeit/bot exchanging are generally happened between the Buy and sell orders.

Why is everybody here: to make profit, including the new comers. Everything in this life is a process which must be followed in a procedurer manna; as said learning is the first procedure in the process, but the learning process to some is so boring.Too much urge for profit result into greed which is one of the greatest mistake.

And also keep in mind not to be interested in coins that have pumped high or Buy when their Coin Price is low after pumping high, I see that mostly applies to new Defi coins. I think anyone needs to be vigilant before putting their money into any project especially with the DEfi project.

The better way to get the most useful information of such project is by the used of these forum as you can see most of information related to Bitcoin and other crypto currencies are posted on these forums and every each information posted by the moderators are more accurate and reliable.
Better to inspect carefully and thoroughly to ensure that your funds are in good hands.
Yes! Its really are important to know that you should invest a money that you can afford to lose.
You should have better control on your emotion and don't act harshly its better to observe first the market then decide accordingly on what you seems right based on your observation.
Always keep your private keys in safe and never trust anyone but yourself.

The learning part or aspect is very important, because you can't venture into a business or investment without first knowing and learning what it is all about, else you will end up making massive mistakes. Also, you don't Invest just because of what people says, you need to understand what it takes, the risks and what it involves, so that you can make proper planning and so on. I also, I believe that after the learning process, the second most important is investing what you can afford to lose, so that you don't blame anyone for any reason because the crypto space is very volatile just as it is very attractive. All the other points are very articulated and apt, hence I believe this will serve as a good guide to a lot of people.

Crypto investing is a very risky activity, we are all aware. However, the best advice in my opinion is to consider the amount of money you want to invest and that is the amount we can accept in the event of something like a loss due to volatility. I myself never advise people to invest in a new project, this has a bigger risk even though some of them yield good return.

Only new investors can keep it in their mind. Even so, I had it because I wasn't confident in my invested coin. When you are serious about your investment, you won't lose your single penny. But on overconfidence, you shouldn't invest all the money in one coin. We shouldn't worry about losing funds. By this we could lose our focus.

You will not make a mistake if you invest in bitcoin or ethereum, when it comes to all others you are taking a bigger risk, but in the end it can turn to greater profit! At least it's what we hope for when we invest in new and not yet popular alts.
Avoiding mistakes sounds easy once the game is over, but while it last we make moves, and we hope for the best! Nobody can predict the future, so investing is like gambling, there's no gain without risking!

Obviously trading capital should not consist of money that you require for your livings. I think new projects and tokens coming out are mostly scam or they have no intention to build the project and their primary and only objective is to somehow get listed on an exchange and then disconnect from the project and build a new one with new names and profiles.

The best idea to identify a good project is actually spend time in their telegram and ask them tough questions and see how they react and if they are just suppressing the questions by force or delete the messages then obviously they are scam. Another thing is to check if they are actually interested in building the product or just want to quickly get listed on some exchange.

Simple facts for newbies to make use of. The learning part is my favorite. Anyone who takes it as paramount will have all others in control. Also make sure you have a protocol for anything you are doing.

i think the key is learning before earning
people should have knowledge before they drop their money to any kind of investments, especially in this crypto world that have higher risk than the other investments opportunity

Yeah, but sometimes you miss a chance in doubting yourself because I remember when YFI token first came into my knowledge the price was around $3k-$4k if I am not wrong and the time I spent in researching why it is going high every day it actually made me miss the opportunity because the value went too high by the time I was able to understand how they even work.

I think sometimes you have to go with the gut feeling and when the price is boosting, invest some, yes you might lose 7 out of 10 times but the 3 times you make the right investment you can easily 10x your investment which recovers all the losses you made in other coins and those 7 coins you are not going to lose 100% money so you can sell them for maybe 10-15% loss.

^ good advice, losses when investing in crypto are very likely to be avoided, the steps are very clear you mention. Newbies don't be lazy to ask questions, must be more active in asking about new things in the crypto world.

It is indeed important that you should be knowledgeable before you take steps in cryptocurrency because one single mistake can lead to loss of money which we do not want to happen that is why before you invest your money you should study every important information about cryptocurrency and on how to choose a promising project that you want to invest your money in. There are actually things to consider for choosing a particular project to support and you should know it by yourself. Knowledge is the key to success.

thanks for your topic. I think it is very important. Also I want to add some recommendations.

You should:

1. to learn Self-control
2. to study investment and financial mindset
3. to practice with a small amount of money

This is the fundamentals that every trader should know. Number 1 is the most important thing for me, it is always be the hardest thing for me and I need to overcome that  because in all my trades, emotions makes the  biggest role. Number  2 and 3 can be achieve if we are determined to learn and we have so much time now, I mean if we have an extra time, not all of us are full time trader but we should allocate some time to learn and apply it in real time trading, for us to see how does it works.

At some point in our crypto journey, we will really incur losses with our investments. Same here, during the ICO days, I invested in what I thought a promising project, but ended up crap. Not even have the chance to sell my tokens up until the site disappeared. So sometimes we need to experience a lesson so we will know exactly what to do the next time we encounter such situation. Not all people here know what to do the first time they join this community. For sure, even veterans here suffered losses with their investments.

Have seen many advice on doing your own research but barely seen thread that discuss research as a skill in cryptocurrency especially with its crowdfund. The whole years of master/Ph.D is learning to do research, so it an intelligent skill. It can be taught and should be taught here, lets talk about accessing information on team, ICO and products. How to know if the information is genuine. It will of easier to assess a genuine information if it can be accessed.

Learning process is not bad and boring if you actually have the financial stability and doing the learning for the sole purpose of your knowledge and market recognition, I remember how boring it was in school times because studies were forced on us but now after passing out I myself read through numerous articles just because I love doing it now for my own knowledge.

Coming back to the topic, yes learning is important but one should always find the right tools and study the mechanism of the project. There are times when a product looks amazing but the scalability and the sustainability is bleak and requires work to be done.

That's true never buy the token based on how it is performing on the market rather see how powerful the project is how the future of the project looks from current perspective. one can take Ethereum as an inspiration, they made a product that has a significance even now despite so many other similar projects came.

Having a Ph.D. or graduating from high school is not a sign of intelligence, especially in crypto trading. The ICO or other forms of crowdfunding doesn't run on full logic and mainly depend on the interest of investors and market situation. There are ICO analysis sites that can offer a premium package of ICOs and it will be more time friendly rather than looking for each team member individually. The academic background is important of the face person of the project but the investors don't invest in the study or education of the CEO, they look for profit which can be done with smart management.

You have listed almost all needed to know as a newbie, but you omit one other key point to avoid which is to stake wisely, newbie must learn to invest what they can avoid to lose, if not they can lose all capital on a single trade.

Yes you are right. There are a few more things to look for, I don't think any ICO, IEO, IDO, STO and any fomo coin should be invested. Because all these coins can add to the portfolio. So we have to keep an eye on these.

Knowledge is important but it is not enough, even if we are knowledgeable but we do not know how to use that knowledge then it can considered as waste. If we will invest in our knowledge be sure that we will use in right and proper way because there are some instances where there are investors and traders that are investing in their knowledge but they do not using it so for me what they did is just a waste of time. There are a lot of type of investments here in the market and it requires a lot of knowledge and also skills in order to become profitable. My advise for the others is to invest in their knowledge and do not forget to use, they should also be dependent to their selves and not to the tips or opinions of other persons.

These are very good tips, if I had known them when I was a beginner, I would not have lost a lot of money! I also want to add that you shouldn't buy falling coins in the hope that they will roll back up, maybe that the coin will fall indefinitely. Therefore, you need to study the entire market in general and in particular the project itself.

Just don't give up, we all made mistakes, and though we make mistakes in the past, that should not make us stopped from still looking to find a way to be profitable in crypto because we have a lot of opportunity here, we just have to improve and continues to learn.

This time, the bull run is coming or maybe here already, so let's make the right decision.

Fully agree with the author. In fact every day is a learning day for anyone in any field. Knowing the volatility in this field, investors need to put an extra effort to stay up-to date with relevant knowledge. Having a better portfolio of assets is a key requirement in any investment as it leverages the risk component up to some extent. No-one can play a game if he/she is afraid to lose and that is valid for crypto as well.

This is helpful for the newbie who doesn't enough information of crypto or when they start investing and trade.

There is a lot of newbies who do a mistake because they do a things if they did not know how it works or it is safe or they did not guide by someone who knows what is possible to do. The only for them to avoid losing money is by helping them or guiding them.

numbers 2 and 4 are my weaknesses, I am a trader and I tend to be all in to one coin, and it has a big risk but if you are lucky you will also get big profits too, and again I always panic if there is FOMO and immediately believe it.  can be removed from myself that's how I trade ..

Emotional trading should be targeted. Emotional trading is a very bad habit. When some profit comes from one trade, I open another trade. Or when I lose from trade, I open my new trade.  Repeatedly trading is a big mistake for traders. It is not right to open more than one or two trades a day.

so you have to try to improve your weakness, every trader have their own weakness and it common happen to us. but successfull trader could controll it so they rare to make mistake due of this.

if you open multiple transaction and didnt calculate your margin it could be very dangerous while market againts your position. we must have good money management in our trades.

Trading is indeed a difficult thing but it can be easy when you control your emotions,
emotions are a tough opponent for a trader, especially when the price of Altcoin or Bitcoin goes down and gives panic,
traders will find it difficult to control their emotions, and I guarantee panic will happen to ourselves.

First thing is first learn what is crypto currency and then you can choose which crypto currency is growing up and giving profit daily some time giving to learn and understand what is market and abserv all coins price and see what happens and avoid fear somay members haave more fear to investment in crypto currencys and find good projects and don't panic token price is up and down similarly then you don't panic such things investment in Monday in crypto currency you have good pesions in very important then you don't doing mistakes

Practice will allow you to overcome your emotions.

This how most pro traders are doing and gaining advantages from this venue of investment, they are aware on how to act when
certain market movements are seems not favoring their positions, they simply let it go anf try to adjust in order not to fall in any
undesire mistakes that will cause them to lose their money.

At first it will be difficult but as time passing by it will become easy as long as you are improving your knowledge wherein you keep investing to learn different information. A lot are losing in trading but it is normal as long as you will learn from all of the mistakes that you did. If you did not learn or did not journal the mistakes that you did, most likely you will repeat that over and over again.

I also suggest that you should be a trader with strong hands wherein you have a confidence and patience, a lot of traders are getting scared when they just saw a red candle and they will immediately sell it even though there is no sell signal.

Panic is one of the big factors that will lead to defeat, but you also have to know that being too good to be true is also dangerous, don't have too high expectations, if it's enough, just profit right away and don't delay the opportunity, profit is profit.

some other mistakes might be like Panic sell when you see the portfolio drop dramatically then immediately sell at a loss, besides that it also keeps coins on the exchange, for me this is not safe, my advice is to make withdrawals after you trade on the exchange and never leave coins in any exchange.

I'd like to focus on diversification and in FOMO, a lot of traders are having mistakes wherein they keep putting their capital in just one token. There is a popular saying that do not put all of your eggs in one basket because if you accidently let go it then all of it will crack and it will be waste, there is similarities in cryptocurrency world where if you put your money in shitcoins and it suddenly dumped then you will also lose all of your money.

You are right, you should always remember the principles and rules and try to stick to them. However, all this is good when you have already tried all these areas and have experience, this gives you the opportunity to see the big picture and do the right actions. But as for beginners or those who just play, they basically go the other way, namely the way of the crowd. If they say to go there and buy exactly that cryptocurrency, then the person does what they tell him. This is a great desire to make quick profits and many want it. But the rules you have given above say that you need to act deliberately and according to the rules. This is the right choice and I also follow it.

Of these 5 things, I am more focused on securing assets, where sometimes assets that have been stored with secure asset security are still compromised by hackers. This is what causes a lot of investors to lose their assets because their assets are hacked into. this should be a serious concern

When choosing a crypto exchange, make sure that is has a good reputation because there are a lot of crypto exchanges in the past where in turned to scam and they steal the funds of all the users. A good crypto exchange should also have legit volume where you can easily enter and exit in a trade. It is also should have good support because if it has a slow support then for me it is not good crypto exchange and it should be avoided in order for us to have convenience when doing trading.

Choosing a exchange is a skill wherein in take time for you to master that kind of skill. I experienced to use a crypto exchange that have bad service and it is the reason why I decided to always do a research before opening an account in a exchange. What I also like in an exchange is there should no verification wherein the KYC is not mandatory because I do not like uploading my verification online.

Crypto trading is not easy task but the knowledge is what cryptocurrency traders need not emotions control cause if a trader have enormous knowledge about trading he will open his mind to the reality of every decision he makes while putting his emotions under control.

fomo is human instinct and everybody reacts in an unexpected way, which is the reason the vast majority panic when the market goes down or crashes.

truth be told this can be evaded if the people are used to the circumstance, since keeping the attitude and psyche quiet is the primary objective in controlling emotions

When I first started crypto trading, these afformened issues affected me till I heard to talk to myself. I was holding only ETH and BTC, I was always buying coins when I see hype and once I buy it will dump on me and next is to sell it out immidiately. Lot of regrets happened then but all the same I still tagged it as process. I was learning but now, I can't do such. It's a good one for learners.

There are more and more people willing to invest currency and make money on trading. I think when trading, you should pay attention to a currency that has a high growth rate. Earnings will be faster!  ::)

Good points to give to newbies. My friend who I have told about crypto since 2017, only participates on bounty campaigns and nothing more. He only earns average salary only enough to feed the family and rarely has the means to do investment. Anyway, he was able to get a few thousand of our currency and then he just uses the money to do buy and sell things. I mean he has been doing this for 3 years and just wants to do that. I tried to persuade him to do trading but health issues prevented him from long hours on a computer and having a sedentary lifestyle. Hopefully he will be able to earn so he can try to invest in cryptocurrencies.

yeah all these mistakes and rules looks relevant, as for me, i'd add a mistake not to research and analyze normally projects before investing. i choosed for myself investment into credible defi - and mostly dex projects

also believe this) i'm researching a lot of interesting dex projects - recently  researched a new stablecoin dex with nice returns - xsigma, looks credible

This is some nice piece of information mate, Hats off i bet every newbie investor that comes across this thread will find it really helpful just like I did, nice one.
An important fact to point out, cause I see so many people making this mistake and in the end its always the same their account either gets frozen  or hacked, non-custodial wallets are the best to hold funds, since only you have the seed phrase can open or access it, your funds are much safer there than in a custodial wallet.

It is best for beginners to invest in top cryptocurrencies, because top cryptocurrencies constantly bring profit and you just need to wait for the right moments for investment and then wait for the right moments to sell your cryptocurrencies and you need to do this constantly and you will have an excellent profit.

These are useful tips for newbies for sure but I am not so sure if most of the newbies will listen to it knowing that most of the newbies are impatient and very greedy to earn their first profit especially if they are going to invest.

But if the newbies will just put this simple tips in their mind then I am sure that they can avoid some problems in the future like forgetting their private keys, using fake exchanges and etc. What I can add to it is that, newbie should not force their way to earn a big money in the start of their journey as this is the common reason why many newbies got scammed by the scammers.

More often than not, the main mistake is not a lack of experience, but a lack of knowledge. People usually try to spend as much time as possible in the trading session as quickly as possible.
They forget that without theory, their skills will be blind. Therefore, there is a rule to devote two hours of theory per hour of practice.

I love the points you put out as a major to avoid mistakes but I believe my mistakes I made when I joined cryptocurrency actually made me better now but the point I will do much agree with is keeping your private key safe, many newbie actually makes that mistake

Yes, most of the time it is inevitable that one will make mistakes along the way. Whether it may be from a wrong decision, or a wrong project that one invested in. It is basically a hit or miss or trial and error thing. I don't believe in a perfect condition. Even old time bitcoin supporters have made mistakes of not being serious with the coin and they trashed their hard drives and some just tend to forget their passwords and key phrases. Some also made wrong trading moves. We all know that, and it is with these mistakes that we tend to be better.

different exchange as they have with frature to helps trader as managing plan on crypto finance, as each to gives with reference following customs with the trading terms of business. trader might choose one as best to suite the needs along as the plan to run on terms with the investment scheme.

You don't have to go that far, the only thing you do is just to stay away from an unknown exchange. I only manage you trade in unknown exchange during the times when ICO was still popular, lots of ETH tokens as a reward that I like to sell and most of them are listed in small or unknown exchange, they are legit those times but now, I think they haven't survive anymore.

Practice shows that the strategy of storing part of the deposit in bitcoin, and the rest of the parts in assets that does not belong to the crypto market in any way, shows itself best.
The entire market follows bitcoin, and diversification should be as rational as possible. If bitcoin is down, then all your altcoins will go down with it. If it grows up, there is no guarantee that altcoins will follow.

Yes you are right. And I think this post is very use for those who are new to this crypto community. In this community those who are new came and think this market is full of profit they don't want to know how things work here. They just want to put their money to get rich. Butbmost of them end up in scam or in loss. So I would suggest whatever youninvest first invest your time and gather some knowledge and then gi for investment.

 If you start investing your money somewhere, you need to study both the crypto industry (at least basic concepts so as not to get into a puddle at the first transaction) and the project that you are ready to add your funds to. There have been cases when people on the wave of hype did not even really delve into where they invest.

Actually, I think new users can't minimize losses because experience must be mandatory there. We all know how to minimize our losses. Still, I can remember when I made very bad projects. You will never learn something where you don't put your time. I'm sure we all know these mistakes, but we couldn't avoid them.

Yes another best point because if we can't safe our key then our assets will gone to hacker hand. Most important don't hold a coin in exchange wallet then you can lose money because many top exchanges are almost victims of hacking. So always use the best wallet and keep the key of your personal wallet confidential.

I think the most important thing on the list, is betting all your money on one project, if you bet big on one horse and your horse end up losing that is game over for you, there is nothing like risk free investment in the space and anything can go to Zero

A newbie can have a good experience with this.

And the one important thing that people will find is absolutely true if you've learned everything from this market. You will have to say that if I buy bitcoin and not alt, I think these will continue to repeat with newcomers to this market.

Its very helpful for newbies. But all you need is patience. First inspect the market carefully than Make a well calculated decision and keep
patience. You can hope for a great outcome by the grace of allah.
Patience is everything in the market. First learn to keep patience in risky moments than you are good to go..

I believe that everyone will agree that each of us was once a beginner and started our activities in the cryptocurrency market from scratch, and the main thing is to define real goals for ourselves in order to move in the right direction and study the information you need, while using experience authoritative people. This is how you can accumulate your personal experience and practice getting real results.

he didnt wrote "once" and i feel that what he typed isnt a typo .

being a newbie do come once and it wasnt permanent but thats true that we need to strive learning to stretch our brain and filled it with more knowledge that can benefit us in the long run

defining real goals for our selve is like finding the true meaning or true purpose of life and this indeed can make us motivated that we can forget the bad habits that we did and we can get back on track  again

You have a point, the vital thing to know when investing in crypto is teach ourselves first to know more about the thing you are investing. Since some they simply invest without doing some investigation or research on a project and furthermore depending on analysis from others. There's an errors particularly to amateurs in crypto but these misstep will gives you an exercise to learn.

thanks for the guidance with this I can understand what investing in crypto is and how to use it. I understand that I am a new player ;D

Also dont forget the basic of trading. Set your Stop Loss if you wont suffer it more.
Because its possible for your assets to be far decreased if you hold too tight.

yes that's good advice, i observe that Most of the newcomers come to this market and they just think that investing in crypto can make overnight rich. and it's also the worst mistake people make when investing in crypto is not considering risk management. No matter how great the coin is, risk management is very important when investing. So this is why observing the market is so important and studying it.

FOMO isn't entirely bad like you are saying OP, it depends on what you FOMOing on honestly, when btc spiked to 30,000 FOMO got over me and I invested a thousand dollar, it ends up favouring me, FOMO is not something you can throw away it's part of you, just know when to use it

What i have experienced over time in this market is that diversification does not matter much especially if you are staying top coins for example bitcoin and ethereum as they have proven to be less risky and returns have been good enough to not leave them especially if you are in for long.

If you have that knowledge and you do understand the risk of riding with fomos the chance to earn out from this trend gives decent compensations, it's part of the market that you need to take advantage.

Those who knows how to ride and quit in the right timing are surely gaining from thier investment, there are different strategy that
traders are following and part of it is riding with whales.

High risk but if you completely follow the pattern then it also can bring great benefits
to your invested money.

If you are a newbie in crypto world you should more research about it first. And you should avoid some mistakes. Some investors, mostly beginners, want to make early trades a day. This is dangerous. Don’t chase cheap coins with dreams of Lambos and private jets. Lots of investors are impatient and ‘cut their losses’ early because of emotions. The cryptocurrency market is made of cycles, where prices rise and fall drastically.

Your advice is certainly important, but nevertheless, even old people who are fond of cryptocurrency for more than one year neglect such simple rules. I think the forum should have more topics related to the safe purchase of cryptocurrency and security support in general.

Sometimes it's not a guarantee that someone who has known cryptocurrency for a long time, they are much smarter in investing and trading,
it is true that controlling emotions is very important, just imagine if when we are investing or trading our emotions are unstable, of course it is detrimental to ourselves,
so from now on we have to learn to control our emotions to be more stable

Yes, not all FOMO is bad sometimes it's profitable but the OP here is talking about "beginners in crypto" because don't have the experience yet. So it's natural for him to say that.
you are not beginner here and of course you have a lot of experience with FOMO that's why you dare to invest

Of course, better safe than sorry. Investing is a responsibility but not all investors can handle the same level of responsibility. Digitalization will create a mass adoption and we are early in this industry, so I prefer to keep investing in the market no matter I make mistakes or the right decisions. Losing is part of the game, we should accept it. Reliable projects are not more than 100 or 200 but everyone keeps shilling the bought bags for getting more and more from their investment.

Of course not all of them, but I believe what the OP meant was mostly FOMO. I also believe that FOMO is a bad trend and should not be followed, as most FOMO ends in a loss. FOMO is the biggest enemy of traders and investors alike, because FOMO can be easily played by whales, so be careful if you trade/nvest based on FOMO trends.

Some of your statements are very helpful for them to make an investment, but there are some points that you may forget to add, including beginners who make investments that should avoid panic and don't have a big appetite. In my opinion, this is also a fatal mistake in investing in digital currencies.

Of all the OPs mentioned, the most basic thing that must be done is to have sufficient knowledge and understand well everything related to crypto investing.
because if you have the best knowledge of how crypto works and learn everything crypto related, all the risks and problems that will arise in investing will be considered for starting when is the right time to start.
And the knowledge base will take the next step to learn what you need and other things related to working crypto to be able to study well to understand everything perfectly.

As a new investor in altcoins I found this thread very useful.

In Jan I invested around 1k in 5 coins. So.far they are seem to be doing well and i am decent amount up


The only question I have is about storage and saftey. I use Coinbase. Is that safe? Do I need to use extra security? Is coinbase reliable?

Thanks

I agree with your statement, from some of the descriptions that I read are all true what you said and those are some mistakes made by new traders, I have also experienced bad things as you mentioned in point 4.

you are wrong, new people can get to the forum or the first investment because of information from people. of course, learning and direction from others are very important. the consideration is who will be trusted. whether they are people who can really help or people who will just take advantage. even though we know and are close to them it is not a guarantee that we will really avoid the risk.

Thank you soo much for creating this topic. Because of you we are getting lots of information though you missed some information too like about using exchange or physical wallet to hold coin. But other member told this plus lots of member share their thought what we definitely Avoid to do in crypto. If we want to get a safest journey on crypto then we sould follow rules and you mentione some needy rules thank you for shareing your knowledge with us. And also the other experts member who also share information  thanks to all of you. Have a safest journey on crypto.

The best activity as an amateurs to see on the specialists while learning by doing and applying those exercises and methods they have seen from the specialists to acquire a great deal like for instance when I was a novice here, from the outset I don't post or remark on the threads yet rather I read a ton of threads and points to acquire thoughts regarding crypto monetary standards and so forth since when I entered the crypto world I dont know about the thing I will do.

Agree especially for those peoples who invested in something without knowledge and know nothing about the project it looks very stupid. Most of them just following trend and don't even know about what coin he invested in and when he's investment drop or far away from the buying price they crying and looking someone to be blame.

Very few people understand fomo. The experienced traders always buy when the coin is in the dip and do not follow the coin which have already raised to 40-50%. If you miss the gain in one coin, its better to wait for the coin to retrace back or perhaps we could look for opportunity in other coins.

and there are a lot of such people, those who did not understand and decided that he was an expert.And then we often read sad stories about how everything is bad and the capital is lost.Forums for this and there is that would consult and get advice.

No matter how much advice we give to new comers they still made same mistakes. It seems that making mistake is also part of learning strategy. You learn trading after you make your first loss because of wrong investment.

when we are ready to do it means we also have to be prepared for what risks we will get. enrah is beneficial for us or bad for us.

Because the world of digital commerce is closely related to the equipment we use every day, like ponsell anda laptop,of course we are required to manually copy whatever is related to the assets we have [ keys, passwords ] in to the book ..
what is the meaning of assets that you have if you can't have it because lost of private key

Haste and thirst for quick profits are the main mistakes when investing in cryptocurrency. The desire to save money sometimes triumphs over common sense.

There is no need to take risks and it is better to make your first attempts on reputable platforms with many trading pairs. Only then you can explore other trading platforms, carrying out small transactions first, and then, having gained initial experience, you can move on to larger ones.

Unfortunately, it is impossible not to make mistakes, so you should try with all your might to minimize number of faults.

Number 6 and the most important part. Try as much as possible to avoid greed. Its a life saver and can make you lose all your assets in a rush of blood to the brain

Right, even for the people who have been in the market for a longer time, we still do make mistakes.

It really is part of learning new things and formulating a strategy that might work for you. Losing and mistakes are where the strategies and learning comes from.

I think the biggest problem is the first point, learning. After all, all the points below come from this first point. People are sometimes too lazy to learn even basic information about what is happening.
If they spent more time learning, they would be surprised at how quickly they would understand the cryptocurrency world. But unfortunately we are big fans of relying on someone else's opinion and thereby shifting responsibility.

Without any knowledge you are risking everything that's the point, it's highly recommendable to start if you already have good knowledge
about the business that you are going to work with.


Invest with time and take note all those important factors that drive this market, you'll enjoy your trading activities if you fully understand everything.


Sad truth! listening blindly without doing your DYOR.

The most important point is FOMO and storing the Private Key properly, these two things are often mistakes for every crypto enthusiast, but the most dangerous is FOMO, many investors are not aware of themselves when following FOMO,
To avoid FOMO requires good management, such as making plans and doing in-depth research, without it it will be difficult to avoid the FOMO that is happening.

Most of my friend who loss in this crypto crying because they don't know what they invested in.

They just joining the hype without knowing the project he invested in and when the price falling they just talking shit about their own decision.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

that's a pretty good info to know.

I totally agree with all the mistakes mentioned by the opening post which are very many made by investors or traders. Because most people
underestimate when they first jump into the world of crypto. They think that making profit on cryptocurrency is enough to buy it at a low price
and sell it at a high price. Even though the reality is not like that, investing or trading in the crypto world is very complicated in my opinion.
Learning is required before deciding to use the money we have to buy the coins we want. There are many rules that must be understood by traders
or investors in order to avoid losses, and can generate large profits. Never be lazy to learn all things about the crypto world.

Thats the usual mistakes of newbies or those greedy to earn. They dont bother knowing the details of what they're getting into because gaining profit (like others) are their main concern. Then they will regret their decision once they experience to lose their money, regrets are always in the end indeed.

Every investment has risk and no assurance of money back. Hence its really a must to only invest the money that is not meant for important things otherwise you'll get rekt.

great insights for newbies, thank you for this. I would like to add some popular advice too if I may.
1. Don't spend your daily living money, make sure it's cold money, money that you afford to lose. When you trade with sanity, you won't take a bad and rush decision because of a panic state. That's why this is important.
2. Don't easily trust or sympathized with anyone in this crypto sphere, you have to count on yourself and do your own research since this is a harsh world.
I hope it will add the insights

These are our realities. From my own experience, I can say that only those who spend enough time doing their own research earn the most.
Those who are not lazy and do not shift responsibility for their choice to others always fall into big ideas, getting the maximum profit. However, this requires learning and relentless practice.

It's more like a parting word than rules or mistakes. The main thing I would note first of all:
- Control your own emotions
- Never enter the market for the entire trading deposit
- Always put a protective stop order to minimize losses

Follow these 5 points to avoid mistakes while investing in cryptocurrency:  
                                                                                                                                                                                                                              
1. Buy crypto coin in Bearish market
2. Avoid Panic sell
3. Avoid Panic buy
4. Use trusted exchange platform
5. Don't share your password anywhere

Being one of the investors in crypto trading you need to be a risk taker of course. Because if your not ready this matter that means
your not suitable to stay here in this type of business industry. And do not be greedy when you do trade in the actual platform instead be satisfy if you earn a little then do it again in another day something like that.

Number 4 is the most important one. As a Newbie, the FOMO force is very overwhelming and you can make decisions that can easily rekt you. Though newbies would be newbies

I want to add another thing. That is, realize that crypto is not a "1 day millionaire thing". For someone, it does. But it has a low chance and a very high risk. Based on my experience, my portfolio becomes zero many times. Not until I planted to my mind the thinking that it is more likely to be one step at a time than jumping several steps at a time to be successful in this crypto world. And I didn't take my loss too seriously. I forget my loss and bring the lesson that I learned in my mind.

then they are all stupid mate , and that is the reality .
then they deserve to lose and cry mate because they are foolish enough to invest in something that you don't even know.
invest what can you afford to lose and also invest with deepest knowledge .

All of the points is a very important part of every investors and trader. for that reason, we should be following the rules or tips every body can get better benefit.

Appreciated,Its helpful for all specially for new comers.Further i add here that dont believe in rumors just believe in personal research and dont stop the learning process.Try to learn new things having trend in the market and learn about upcoming projects.Avoid to repeat past mistakes and diversify the investment in worthy coins,Dont be hurry to sell early til get expected results.

Buying during bearish market is a good strategy for investment, but it still doesn't guarantee profit cause I know a few coins in 2017 that didn't pump during this bull run, but it's still a good strategy anyway, as for using trusted exchanges well just about any exchange can get hacked anytime, in order to be on the safe side never leave your huge bags(coins) on your exchange wallet, they might get hacked anytime and the exchange might not be able to pay every user, storing coins on any third party platform is a bad idea.

You’ve missed a few other essential things. This advice is not only for newbie traders but for professionals too.

R-R ratio - It is the standard measure used to compare the potential gains to the potential losses. The risk-reward ratio states that you should risk only the amount you can afford to lose. For example: If you have a risk-reward ratio of 1:3, it means you’re risking $10 to make $30.

Patience - ‘He who masters the art of patience becomes successful.’ Once you have set foot in the crypto world, your patience will be tested to unimaginable extents. So when the market isn’t in your favor, remain calm and think about what to do next.

Protect your money - When you create a crypto wallet, you’ll get a set of unique public & private keys. The public key is the address of your wallet, and the private key is the password you need to access your wallet. So do not disclose your private keys to anyone.

1. Do not invest first if you are not knowledgeable in the technology of the cryptocurrency you are buying.
2. If a new investor immediately believes the hype of those supported by celebrities.
3. If they hear bad news, they are panic selling.
4. If all the money is in just one investment, it should be divided.
5. No strategic planning.

Lack of cryptocurrency knowledge make us suffered huge loss, speculation be main reason why they couragely invest their money into this market even they didn't know what actually it is. And the important point is , they didn't ready to face loss and accept the fact

I have read a lot and here and it adds to my insight, all that being said can be a great lesson for beginners like me. It would be good if it was followed by will and thoroughness as well because all of that also requires a process. It takes effort to get what you want. Investing in crypto will be profitable if investors understand the crypto world and have a strong mentality. Investing in crypto is not just saving and buying coins but requires proper analysis in order to produce results. Make mistakes that occur as learning and don't get stuck easily with the results that obtained. If can get more then that's better.

If a bull run starts in the cryptocurrency market (basically every financial / investment market), it is mainly because are investing people who don't know what they are doing, and the only reason they are investing is greed and that they can see that the chart is growing right now.
That is why it is said that you should sell when the hairdresser and taxi driver persuade you to invest - they are simply the people who do not know what they are doing and it is a signal that the bubble will end soon.

With said so, everything have big impact to every traders who don't understand what they are doing inside this business.

#5 carry the weight as before investing you should plan everything, it saves you time and money that you'll going to spent during your
participation within this business, if you set your plans and strictly follow everything according to how you percept the market. Chances
is high for you to succeed..

Oh yeah, a really good note. I used to do so when I worked in the stock market. For example, when well- known bloggers advertised some companies it was a message for me  that it was the right time to sell soon, as first of all price might increase because of followers of these bloggers and secondly it means that new investors can come. And it goes without saying, that when a crowd of people come somewhere, it will not be profitable after this hype.

Yeah fomo and panic selling is like the biggest factor that causes people to make a really bad decision.
Im myself still gets trapped by the fomo or panic selling sometimes, when the market feels like its gonna go up so high or gonna go down so hard our feeling usually gonna take over and influence us.
Even many expert traders also gets influenced by that and its undeniable that to go against your fear in trading it needs years of experience. Usually though people overcome this using technical analysis.

Before entering the crypto market, you must understand the market and don't run rampant. This still needs to be learned, otherwise the money you invested will be in vain, and don't invest all your money, but also have the courage to take risks and don't be afraid of failure. Find experience in failure.

The best advice I can give on this is to follow the warning of Warren buffet that says be greedy when others are fearful and be fearful when others are greedy, I don't buy when FOMO is alive this is a time to sell not buy, also make sure gou invest only on what you understand

I dont think its bad to put all your money in single coins. Its depends what coins you investing and i dont think diversification is the answer for safety of investments. Divesifications in investing means you invest not only in crypto but on stock and other financial instruments like bonds and land. Its okay to buy more than one coin but you need a reasons why you buy so many coin not just because diversification but cause you believe the potential in the coin that you buy.

This is very helpful for a newbie, because most newbies are always influenced by FOMO which can cause very high risk