Mistakes That Make You Poor Poor In Cryptocurrency

[meanwords]

Yes, you are actually right. Those factors that you've mentioned are the usual mistake that people make, but you might have forgot something to list and that is the ability to research first before going all out. Investors tend to just invest into something that is hot. Most altcoins nowadays get shill and newbie investors would buy that piece not knowing it's a trap set by those whales or those pump and dump groups. But people always learn from mistakes no matter the circumstances which will lead him to success. Oh and also greed.

[sindikat]

Yes, you are actually right. Those factors that you've mentioned are the usual mistake that people make, but you might have forgot something to list and that is the ability to research first before going all out. Investors tend to just invest into something that is hot. Most altcoins nowadays get shill and newbie investors would buy that piece not knowing it's a trap set by those whales or those pump and dump groups. But people always learn from mistakes no matter the circumstances which will lead him to success. Oh and also greed.

In order to make a trap, the whales first invest a lot of money in coins to show a great growth. This moment is the most difficult for whales. An investor can always buy coins cheaply and sell them without waiting for the maximum prices. You need to be able to fight their greed and everything will be fine. Without breaking the eggs, you can't cook the eggs.

[zeingrind777]

Some more points can also be added such as selling in low prices,investing without knowledge etc.In 2018,we are seeing  lots Icos that coming to market, unfortunately most of them are not legit.People just invest without researching about those. Again, as the market is now in an unstable situation, some are selling in low prices just being afraid.That also making them in a great loss.
They need to be caeful about this.

I think by selling a low price does not include a mistake. But it's a strategy to fix errors in purchases. I also never sell at low prices when I think the price will rise, and it turns out the market price is down. Then I sell in a small loss and wait to buy back and hold it.

[Dudeperfect]

As we all know that crypto is all about self-responsibility and one should be held responsible for the consequences occurred in his case. That's the reason why it is recommended to invest time before investing money to learn and understand about the crypto industry. Cryptocurrencies are based on blockchain technology which relies on the principle of decentralization and if there is a freedom, there is also a responsibility.

[ajochems]

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 want to inverse in cryptocurrency,you have to analysis the price chart of that particular cryptocurrency.This is foremost thing which prevents you from the loss.Since , investing in cryptocurrency is based on money investment.We have to take extra care.We have to make our password which should be untraceable.

[laravuemaster]

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.

Phishing site is one of the biggest problem today in the internet, there are a lot of reckless people who accidentally reveal their self which leads for their wallet to be hacked.

[Levin23]

True, there will always be risks in doing something. Our duty is to be careful and do not cheat or deceive someone, because someday our deeds will be rewarded. if doing bad will definitely get bad if doing good will definitely get good.

[lelylely]

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.

Losses and advantages are always in crypto and can not be eliminated, the advantages and disadvantages of it all depends on our own, and from that determine the decision of crypto must be careful, and if wrong then the loss will be obtained.

[carlisle1]

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.

Right mate,greed is the most reason y many fails in cryptocurrency because they are jutt came to gain not to listen and learn.they dont even have concern for technology and what can give this to the world in future,starting today

[ganjasmokingg]

The big mistake that investors make is to listen to the analysis of other investors. We should not follow the masses, learn everything yourself and make better portfolios of your own. That is very useful because you will have complete confidence in your portfolio and never worry when the market goes down.

[jhongzjhong]

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.

Right mate,greed is the most reason y many fails in cryptocurrency because they are jutt came to gain not to listen and learn.they dont even have concern for technology and what can give this to the world in future,starting today

Probably they are right GREEDINESS is one of the worst things if you cant control on this and let your emotion follow being greedy, that's the reason why investors getting poor. In investing we should know more in the market price movement that capable to us to have a better profit not losing of your fund in investment.
And the last one is your wallet being safe to avoid phishing site because we are the one who takes the responsibility of the private key in our wallet and we should know that.

[joebrook]

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.

One must not be gullible when it they decide to start investing their especially in cryptocurrency. One stand the risk of having their entire money stolen if they are not careful. They shouldn't be trusting.

[Pumapipa]

Based on personal experience, poor strategies that leads to poor effects are the following:
1. Malwares in your computer system this can go through your files and hack your informations.
2. Revealing your passwords or private keys.
3. Having weak hands-- selling off the moment tokens hit wallet.
4. Buying high and selling low.

[deafmaster]

Thank you for this informative thread. It would help me from hackers.

[goldade]

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.

Thanks for this information. They are really the leading causes of losses of bitcoins. However, in addition to these causes,  one of the most painful ways of losing your bitcoins is to participate in a bounty campaigns and get paid in insignificant coins that you end up unable to sell in the market. You end seeing the values of your coins in dollars without being able to convert them to bitcoins or fiat. This is why it is very necessary to be careful when participating ij bounty campaigns.

[BitcoinMarketer39]

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 my own opinion, most of the people today are just investing on a mining hardware without a very good calculation on how much profit they are going to earn towards the coin they are interested to mine so they have higher probability of losing more of their capital.

[tranduc2101]

My biggest mistake is to believe in the market trend. By the end of 2017, many people advised me not to buy Bitcoin. But I think Bitcoin could go up to $ 25,000 in January 2018. So I bought 3 BTC for $ 18,400

[uchiikina14]

Mistakes is part of life and so does in the crypto industry what makes users of cryptocurrency unable to thrive in this space is they do not acknowledge the mistakes that they make due to greed, lack of knowledge or even deciding using their emotions. What they should do the make this mistakes a learning opportunities and do not get discourage because of it instead they should always think positively and make adjustment to what they are doing based on the mistakes that they have made.  

[munify]

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.

I think the main mistake and can make us poor is to be panicked sellers, because the panic can make us sell low. Be patient and do not make mistakes then crypto can lift us from poverty to get rich.

[BitcoinMarketer39]

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.

Most of the people are being hacked because of the phishing sites, there are a lot of scam sites mostly in airdrops so i always prefer working on bounties like signature more than looking or participating in airdrops.