Mistakes That Make You Poor Poor In Cryptocurrency

[jojowar]

Make some analysis or study on the project development you want to invest so that there will be no loss result you may encounter in the future.

[1714992525]

1714992525

[Cherylstar86]

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 the mistake I've done to make myself poor is I sold the good coins immediately coz after a several week, it increase its price times three to be exact. I almost cry because I miss the chance. Another, I convert my bitcoin into PH peso when it is around 1000$ then when it is December 2017 already, ow em it almost hit 20K$. It is a big money. I should hold again.

it could be good experience and lesson for us.sometimes huge profit did not come in short time.we need to patient to hold coins in order to get maximize price and profits.maybe all people felt same condition too.

I strongly agree, lack of patience is one of the reasons why we still stay poor because we tend to rush on things and are too quick to decide not thinking if what result it could bring back to us. Our attitude does really matter on how we manage to deal with hardships in life. It all has to start from ourselves and believe that no matter how volatile cryptocurrency is, no matter how many times it crashes, it can still potentially recover. Stay positive and hopeful!

[bcoinseliot]

Lack of knowledge, greed, unreasonable self-confidence in trading, and panic during the downtrend are also common mistakes that lead to losses. People should be aware that cryptocurrency is not a simple thing. All investments hold high risks. The crypto world is very profitable only if you manage your investment wisely. Put away your emotions and rely on the market analysis.

[BitTraderCute]

lack of knowledge make me loss some my money.i am investing into fake project , and got nothing after that.this projects look like good but unfortunately they run after this project get the money.

[BigTeeths]

The number 4 should be on the top spot. If you take time to hear stories of people who get burnt in the crypto space, a lot of them will tell a story of investing on a coin that they believed that is going to change the game just like every project says. They just rode the hype and did not take time to see the truth first.

[geberger]

usually the mistake that often occurs with new traders are those who do not know how to trade well and correctly so that they are easily affected by the bad news that makes them suffer losses.

I am agree with you but i think these mistake are nothing as compare to being involve with ICO projects and get scammed. Many of ico are rising and people just believing on them.

[Tronx]

usually the mistake that often occurs with new traders are those who do not know how to trade well and correctly so that they are easily affected by the bad news that makes them suffer losses.

I have learned not to trust any rumors, even when they seem to me good. It is better to deal with the technical analysis and to follow the market news. You should train using your own brains all the time.

Good to know you and many people learn form mistakes but i think in crypto currency even if you do not make any mistakes, mistakes are automatically made because mainly in crypto trading no one is sure when to buy and when to sell.

[readygoaw]

usually the mistake that often occurs with new traders are those who do not know how to trade well and correctly so that they are easily affected by the bad news that makes them suffer losses.

Not only the bad news affect them. Many people are greedy. They think that the more money they invest in different cryptocurrencies, the more they will earn. In reality, they should learn how to pick good tokens.

[sumangs]

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.

If you wage all your money on a single altcoin with 100% not sure that it will pump but 100% that is a shitcoin that only goes down until the price is zero. Proper research is also required in cryptocurrency. Refrain from being greedy. There are many altcoins that surely only drops its value since they're fakes. Try to check the whitepaper and the website and do some proper judgment.

[martina14]

1. Not Backup Key

Make sure that you have not just 2 copy of private key in different place.
never share it to anyone!

2. Electricity Billing Mining More

Never tried mining as the electricity here in my country is so expensive.

3. Lunes In Phishing Sites

tried once and serve to me as a lesson!

4. Buy Coin With Rumors

Never go hype! you should make your research and study it carefully.

5. Create a weak password

It is better to have a password with small and big letters together and put a number and symbols if possible.

[CoinAcademyNL]

Let me add especially for traders, not setting stop loss can make you rekt in no time. I learnt this the hard way, it was until I got burnt that was when I started setting stop loss unfortunately I've lost a significant portion of my capital.

Stop losses are very important, always set those, without them a men cannot sleep propperly.

[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.

Point number 4 is most common and most of the people lost their money because of that. I have faced this in nxt ignis snapshot when i bought high and sell at 70% loss.

[meusyou]

Mine was inadequate risk management. I literally entered trade blindly focusing on the profit only forgetting the fact that it could go either ways. Hence, I blew a significant part of my portfolio. Risk management is crucial, no trader should ignore it.

[karanggatak]

yes right, when you hold a cryptocurrency, then you must always be careful. theft and fraud is most likely to occur in cryptocurrency. and no one is responsible for the loss you receive when all that happens to you. of all that, you also have to know that greed can also make you poor. for example, you want big profits and you put all the assets you have in cryptocurrency, and that is very risky for yourself.

[yusupjatigumilar]

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 risk of investing in crypto currencies is borne personally, the full profits and losses are borne by the business actor, the government here still cannot provide a clear legal umbrella for crypto currency transactions. Therefore the list of errors that you mentioned must indeed concern us all so that our efforts are not in vain because of the carelessness that we do

[yitzjoe]

investment is a good decision for the future but a small mistake in the process causes our funds to lose and lose, because we are careless in saving our assets.

[twa]

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.

with the opinion you give it can be useful for investors who will start investing in crypto currencies because crypto currencies have a high enough risk to invest

[satriagedhe]

the number four are really true story , and i ever do it once by buying nxt because of ignis airdrop . that really make me sad

[Marial Carter]

I think the biggest mistake we make when investing in Bitcoin is to follow rumors. It could be rumors from people around you or rumors from the Social Revolution that it would have a negative impact on investor sentiment and cause them to lose the opportunity.

[Andika23]

There are many mistakes that you must avoid in cryptocurrency, I have found several people who bought coins / tokens that cannot be sold, they bought coins / tokens at ICO, why did they suffer losses?

because the coin / token they bought at the time of the ICO turned out that the ICO was scam or unsuccessful and they deeply regretted the coins / tokens they bought at that time could not be sold or if they sold they would suffer huge losses.

My advice is for you if you want to invest at the time of the ICO, you better be careful to choose the ICO.