Mistakes That Make You Poor Poor In Cryptocurrency

[zeingrind777]

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.

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[cuong1610]

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.

In addition to these, I have encountered a lack of knowledge when buying Altcoin junk, which made me unable to sell them. I consider it a mistake of myself and I need to find out thoroughly before deciding to do something. And thanks for the things you shared in this article

[avikz]

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.

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

[clonely]

Yes, we definitely need to be very careful when moving in the crypto money market. Things can go a lot worse.

[neliawesome]

Theres a common mistakes which makes you loss profit just like investing without knowledge on it.There are lots of ICO projects rising nowadays so common type of investors mistake is they jump easily into those project without assurance.Thats why instead they will earn they loss more money.Greediness also leads you in losing money.Carelessness will also leads to trouble like your accounts will be hacked or you might get scammed easily.

[zeingrind777]

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

I really agree with that. even I do not think that far. Thank you for reminding and adding the main thing that makes us a loss in cryptocurrency. Even myself have also experienced losses due to greed.

[mostkey]

Mistakes do not make 100% become poor but become a lesson so the future does not make repeated mistakes but using good strategies, all money-related will have risks that can make a loss, no knowledge that they often go to fraud sites that harming many people , especially in the selection of junk coins as now, instead of going up just to keep silent on that number alone for a long time, the panic will be very dangerous for yourself, think realistically do not expect too much to earn more money, but that's not the fact it will frustrating, ordinary-minded and trying to analyze every desire to invest or whatever.

[bitmover]

I lost a lot of money in trading too =(

Day trading and swing trading are very common mistakes people do in the beginning.

[gowobonyok]

and the most common is when there is a new ico launching, many speculate by buying a lot of ico without a proper consideration and analysis, so that by the end of the ico period failing to penetrate the targeted price, they lose a lot and regret it.

[Bountyl]

Not everyone is allowed to be great trailer or on the eye to determine the ico that gives a lot of X. I once tried to do all of them, but alas, not everything went out. But as there will not be such people as me, then there will be no earnings for big trailers.

[Ngemmeng]

in cryptocurrency we have to protect our assets as best we can because we are responsible for all the assets we own.

[Abu Shadow]

Also you need to control your emotions in dealing your investments and know your limitations to not be greedy in waiting for the price to move higher and end up loser after the price dumps. It takes months, years to wait for the price to rise higher and it will just dumps in few hours.

[Coral27]

I lost a lot of money in trading too =(

Day trading and swing trading are very common mistakes people do in the beginning.

I have been hearing that from many people and think it is not rational to deal in something that does not maximize your profit or utility and rather incur you loss. Having said that, an investor will rather go for a strategy or plan that will pay off in the future and long term investment often does that because you do not have to worry much about prices and you do not cash in the red market due to panic and emotions. So all the mistakes that can possibly reduce your chances to earn should be avoided.

[harizen]

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.

1. A Common one.

2. Uncommon. I believe majority here are average joes who are not into mining cryptos.

3. Common issue but nowadays I believed only those with no idea about internet will be lured. Even newbies knows that thing.

4. It's not wrong to buy coins upon rumors and speculation as long as we understand the risks of it. There are people who got decent returns out from it. Just don't target too much high price or else the result will be wrecked.

5. It's a must to have a strong password but still it depend on the user itself how will they protect their belongings and stuffs.

6. That's how risky joining ICO is. No prevention at all but can be minimized if they will understand the obvious shit characteristics of a certain ICO. In a first place, why such put money on an ICO without even considering those major factors.

And another one:
 
Too much expectation for high price target when doing trades. Again like I mentioned, don't target too much of the high price as sometimes you won't get the result you are aiming for. Greed is good but not all the times it can be applied especially in a risky world of trading.

[batang_bitcoin]

1. Newbies doesn't know that putting funds on exchanges is okay.
2. No idea on how much their billing is but it's not for someone that just want to enter mining and be called a miner.
3. Once is enough but if you get caught again by these phishing links, you better check yourself.
4. Don't get FOMO.
5. Only for exchanges account, activate 2FA.
6. Don't invest on ICOs.

[btcluisdiki]

I think most people commits mistake when they joined any investment with zero knowledge of what they are joining. People should be aware that cryptocurrency is not that simple where you can just earn profit immediately but to become more effective with your investment, people should be more familiar with cryptocurrency first. People should be have the knowledge so that they can learn how to analyze the market trend to become successful with their investment. When joining ICO's, check everything what is necessary about the project.

[darkangelosme]

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.

As of this moment I've never experienced any kinds of tragedy like that, the closest one that happened to me in the list above is in phishing, those bastards hackers they've almost catch me there trying to steal my very small amount of funds and even this my bitcointalk account .

[Sadlife]

Actually the proper advice is to make yourself knowledgeable in the internet. If you dont want to be hack whether if it's your Crypto currency or personal details then you must learn how to properly secure yourself and know the do's and dont in the internet. No system is safe never be to confident if you think a software or system is secure.

[VentureHero]

Also:
- Not understanding the basic market rules. If you buy a scam token with no orders it's gonna end very bad.

[zeingrind777]

I think most people commits mistake when they joined any investment with zero knowledge of what they are joining. People should be aware that cryptocurrency is not that simple where you can just earn profit immediately but to become more effective with your investment, people should be more familiar with cryptocurrency first. People should be have the knowledge so that they can learn how to analyze the market trend to become successful with their investment. When joining ICO's, check everything what is necessary about the project.

I agree. The conclusion is, those who want big profits without considering I agree. The conclusion is, those who want big profits without considering the risks to crypto investment. in the end, they will lose and regret their deeds the risks to crypto investment. in the end, they will lose and regret their deeds