Mistakes That Make You Poor Poor In Cryptocurrency

[sgenuine]

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.

I thought all the guys that work with the cryptos know that they need to invest at least in 5 altcoins and Bitcoin. Naturally if you buy only one token, it can fall any time and you will lose too much.

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[Genamant]

i guess the biggest mistake i committed in crypto is being too greedy and setting too much on every singe trade  that i made
but when the market went down i have  no choice but to sell on negative instead of selling it when it is on green.

[arikassuja]

the mistake often occurs when traders and ICO participants do not know how to secure their assets in a safe way, and many of them are deceived by phishing links that are almost the same even though it is fake which makes them victims and loses their assets.

[MTNAX]

I don't think it's a mistake that makes them poor because in investing crypto mistakes are normal, maybe they are poor because they don't know how to process crypto properly and they are also often tricked when investing. Therefore knowledge is needed before we start investing crypto.

[jimskiy]

I made big mistake with cryptocurrency where I really trust with some altcoin, last month I got altcoin from bounty campaign reward and I see its really good project where listed at many great exchange market, I hold it with long term but now my asset is scam with drop lower price.

[KorakPawon]

Beside that, another mistake is impatient. patient is also influenced in every decision we made for crypto. People with no patient usually lose and it means she/he is getting poor little by little. Especially, bitcoin is decentralized, and yes there's no guarantee for you, from anyone, if you just get loss and lose your investment. To avoid another loss, you should improved yourselves by looking for people's experiences and also learn from your own, that's really important to stay and enjoy bitcoin.

[stellgod]

Just little mistake you made at cryptocurrency make you lost your money and poor, I get when some one trade or sell their altcoin asset at more lower price and their asset sold so fast and they have lost money.

People who have limited knowledge about crypto investment will face with difficulties and will fall in troubles as they will know nothing to handle and survive in different market conditions. Even if they know that buying should take place in low market if they done with that process they may make mistakes onwards. The perfect decision is to learn first that is to invest in yourself first after which you will be able enough to survive in any market.

[syamster]

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.

You should also include panic selling. In bitcoin people are greedy and they want profit in every moment which is not possible. When you buy bitcoin you should wait for at least a year to gain some profit.

Panic selling is full of lose we should have patience once we involve in bitcoin, we should know we should wait so that in future we will never regret for making any wrong decision, wise investors always invest for long term because they aware of the strategy, invest for at least five years because short term investment gives lose sometimes so be a little careful please.

[Commotheon]

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.

But when bitcoin decrease they become panic and sell bitcoin. After that they start hating cryptocurrencies and giving advice to people that not to invest with cryptocurrencies.

What about fomo ?. Wrong news are now days making people panic to sell there bitcoins. When i was new in cryptocurrencies i did the same mistake which makes me poor.

[geberger]

The simplest mistake may be the control of your cryptocurrency. Not listen to the opinions of experts in the field and rush to make decisions when there is no basis.

There should be another option which is trust. Many newbies trust scammers and give there all money which makes them scam. Internet is to much dangerous now peoples are loosing there money rapidly. Just one click and your all money and investing gone.

[Pattart]

The simplest mistake may be the control of your cryptocurrency. Not listen to the opinions of experts in the field and rush to make decisions when there is no basis.

Then do you think we should listen to the advice of the experts? what if they lie for their own benefit? I think most traders' mistakes
are because they trust too much on the signals of the experts and are too dependent on them..

[darefreads]

My mistake that I don't want to happened again is investing my money in a wrong currency I mean those currency that will scam my investments. And I think it is the one of the most bad decisions that can happened to all new investors and I think we must learn to it to prevent from losing any investments that we offer in any currency.

[ishinn99]

The simplest mistake may be the control of your cryptocurrency. Not listen to the opinions of experts in the field and rush to make decisions when there is no basis.

Then do you think we should listen to the advice of the experts? what if they lie for their own benefit? I think most traders' mistakes
are because they trust too much on the signals of the experts and are too dependent on them..

You have a point, I think not all advice of experts can really give us benefits but sometimes they just want us to be their sides loss or win. Anyway, we ourselves makes our own destiny most specially in trading and investments.

[Sobocirevo]

i guess the biggest mistake i committed in crypto is being too greedy and setting too much on every singe trade  that i made
but when the market went down i have  no choice but to sell on negative instead of selling it when it is on green.

Mistakes are often made in crypto trading, which is emotional and greedy. These two factors often eliminate the benefits that should have been obtained. But because of greed, even profits turn into losses. Because the loss and capital depleted and then added, the end result was the same. So, avoid emotions and greed.

[nazaididuan1]

Protecting your private key is the most important thing!
The private key is the key to unlocking the treasure. Without the key, your cryptocurrency is a bunch of garbled! You have no way to get your wealth!

[conected]

The simplest mistake may be the control of your cryptocurrency. Not listen to the opinions of experts in the field and rush to make decisions when there is no basis.

Then do you think we should listen to the advice of the experts? what if they lie for their own benefit? I think most traders' mistakes
are because they trust too much on the signals of the experts and are too dependent on them..

- Exactly, this is a huge mistake that I have ever made while joining in the crypto, believing in the predictions of the experts, and the results always make us very surprised, all predictions are not effective and we become victims. A similar mistake and our next, traders and investors, we have put too much faith in the future of crypto and bitcoin and because of that, we never cut losses promptly, even believe everything will recover and continue to hold, and the actual results have proved to us all, this belief is a fatal mistake

[yatogami]

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:

2. Electricity Billing Mining More

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

I generally agree, but this very point caught my eye.
I think all miners carefully calculate their expenses for electricity vs btc (or other coins) earned.
Mining equipment is rather expensive relatively to people's average income, so before investing in an ASIC, for example, one make at least an approximate cost estimate indicating how much time it would take to get the first ROI.

[Kusnechik]

There are more obstacles to enrichment in the field of cryptocurrency than useful processes, therefore, the strongest will survive.

[Yusuf77]

My mistake that I don't want to happened again is investing my money in a wrong currency I mean those currency that will scam my investments. And I think it is the one of the most bad decisions that can happened to all new investors and I think we must learn to it to prevent from losing any investments that we offer in any currency.

maybe it happened to you because you were not careful and careful in choosing a currency. people make mistakes it's natural, but don't repeat it and make mistakes as a lesson to be better. sometimes what we think is good and promises can actually end in fraud.

[yvesp110]

There are more obstacles to enrichment in the field of cryptocurrency than useful processes, therefore, the strongest will survive.

There are a lot of but some people who are lack of knowledge can make this mistake which can give you big lose, all of us should know some rules after knowing these rules we will never suffer lose, the one try to buy the coin you want to hold at the low price, means at the red market and after that you will have to hold and never panic until the market recovers the price.