Mistakes That Make You Poor Poor In Cryptocurrency

[kumala_abi]

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

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

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

[yulionoo]

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

[bluered]

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

[waqasniaz007]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

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

[Rashid555]

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

[candra raditya]

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

[Sarastiche]

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

[DOH!]

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

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

[dlhezter]

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

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

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

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

[Harrisonimo]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

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

[repsol]

as you have mentioned, in cryptocurrency there is no state institution or state government that guarantees cryptocurrency, therefore must be careful, if not careful then the money we have can be lost and will suffer a big loss

[Lexurdania]

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

I think its happen to most new investor in cryptomarket. Patience is the key to make big profits in market. Some coin need more time to deliver their project and i am believe when market recovery, most coin in market the price will rising

[Schmidt Abrams]

I completely agree with you , especially the fourth factor : buy bitcoin with rumor, don't believe in any prediction, as prediction is not exactly right

[heleng05]

I think not all but you just need to be careful on what you are doing and who is your talking to with your investments to prevent from losing and I think the best way to learn more about it is to read and research about Cryptocurrecnt that you won't regret things that made in dealing with other people and the bills that you need to pay in your daily life.

[Adhichan]

as you have mentioned, in cryptocurrency there is no state institution or state government that guarantees cryptocurrency, therefore must be careful, if not careful then the money we have can be lost and will suffer a big loss

no one could give us guarantess about profit.cryptocurrency price has extrem movement, it could suddenly rise alot , and suddenly its move down sharply.so no one safe in this world.

[raidarksword]

Those lists sum up all the possible ways to suffer losses in crypto currency, so it's better to make them highlighted every time. Some frauds projects are always be there circulating online and that's what makes a crypto looks bad to others and it should be prevented and stop once in for all so that no more be victimized that kind of scam.

[whiteblue]

the mistake that made me able to become poor when trading cryptocurrency was that I sold assets that I had so quickly that I would become poor because what I would get was only a loss, so as much as possible when trading do not make that mistake.

patience is the real key to success in trading.

[nydiacaskey01]

One of the biggest mistake you can make in Cryptocurrency is to put all your money in one coin believing that the coin will go to the moon with your investment but what happen is the other way around, coin went down hill with your money in it, leaving you with only 25% of your capital.

Whats more worse on the 1st one I mentioned above is putting all your money in 1 investment, I mean your life savings, your childs educational funds for the future, your retirement fund, all invested in cryptos and next thing you know, the owners decided to run away with your money. Rule of thumb in trading, only use your extra money, money that is idle or ready for disposal. Never use or trade from money who doesn't know you.

[Jerryzack2]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

The issue of high bills due to mining is a known fact that only the emergence of better technology could tackle. Backup keys is also a known fact since, blockchain transactions can not be reversed so, you are completely responsible for your security. The problem should be with ICO scams and rumor peddling happening with some projects, you will need good research before you buy coin or invest in projects. Mfchain stands out among projects currently running ICO, a good investment from research point of view i must say. In crypto, everyone is responsible for their security since their is no regulation.

[syaripudin]

Conducting research before investing will be a good enough way to be able to invest in the world of cryptocurrency, because many investors suffer losses due to fraud caused by being too careless in investing activities or activities related to the cryptocurrency world without conducting prior research.