Mistakes That Make You Poor Poor In Cryptocurrency

[lunaelucemauram]

There is also people who are getting into the hype and people who are emotional in the prices of the market. These kind of people is easily manipulated by the whale or pump and dump group and in return they will just lose their money. It is also the same for new bounty hunters as we see them getting scammed by fraudulent bounty managers or ICOs in which they will just waste their energy and time.

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[Nucular]

The one Mistake that has made me poorer was not selling at the right time. But it's not like I won't have any more opportunities in the future.

Just have to make sure I do commit some real mistakes, like losing a private key.

[el kaka22]

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 most things with getting poorer in cryptocurrency space have mainly to do with knowledge. If you do not equip yourself in all the things you need to know about security, the markets you should be investing into, the risk that is available and how you can be minimizing them as a smart investor and so on, then, there is no way such a person can actually end up doing well without ending up losing their funds in some way. It is either you stay smart or stay broke.

[nano77]

a good list and it can happen to us if we are not careful, we should also know that the crypto currency has a high risk and that can make us lose is from ourselves, so we must be more careful and can make decisions correctly

[Ikay]

Yes you're right if you can not take care of it properly you will definitely lose everything you have because a lot of people now, all they want to do is to steal everything from others so you're going to suffer really hard when you're not careful.

[cramcram21]

Putting all in and rushing things are mostly the highest rate of the mistake that we do in cryptocurrency,
We all know that there are times that we rush something in order to get a profit but sometimes it is the other way around instead of gaining profit we are losing some money from our investment.

[royalfestus]

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.

I dont believe its greed but ignorance. Most early investors will either flip than purchase the coin at that high price. Understanding the volatility of the coin is important as an investor and thus determine when to put the fiat. What made bitcoin available was that early investors understand its an opportunity to convert to fiat as much as they can, while new investors thought it was time to enter the space. Missing the right time of investing was there failure.

[nicster551]

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 don't usually experience from any of those, but I do experience a lot of failures just because of my emotions in trading and because of that I lose a lot of my tradings.

[alroys]

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.

It is true that you say, we must be extra careful in playing this cryptocurrency. keeping our main Email that we use to register in Exchange is also very important. and do not let the email spread, if you want to join Cryptocurrency groups should use a new email.

[Kiddy0831]

I considered myself as poor in crypto. And yes it is true that mistakes without knowledge of this kind of thing. Maybe its kind a late knowing this. I know that a lot of people who got rich with this. I believe that its better knowing things even if you dont fashion it.

[Kingsingle]

That is the hurry is not consistent will, no clear goal, you rushed to sell your pennies at a price lower than the purchase price. So you have a loss. You fear the market crash.

[Tigorss]

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.

Do not buy something just because there is no value. You must wait for confirmation from the market that the trend has changed. identify the price confirmation that you easily recognize for example with technical analysis, before you decide to buy the coin.

[darthmaul]

Hmm, basically all the errors that we make in the crypto currency can get us into the trouble of loosing money. Well thats not the way of getting poor but its the way of getting yourself into trouble as well as being stupid person as not to saving all those important things at some place secure. I guess poorness is part of not working for yourself, not earning enough money for yourself and well basically being the lazy one. 
Loosing all those things is like being carless.

[embargo]

A mistake can also be entrusted its capital to the market of crypto-currencies. In the event of a collapse in the market - you will lose most of the capital, if not all of the capital. It is not possible to calculate all the risks.

[Sowik]

One major mistake that can make you poor in crypto currency is not using a goddamn STOP LOSS. Like goddamn, learn how to use that thing 

[reliable]

One major mistake that can make you poor in crypto currency is not using a goddamn STOP LOSS. Like goddamn, learn how to use that thing 

If you are confident of the coin which you hold does make sense for the long term then you should be holding such coin so that you can make the best money in the long run. Some time the market falls at random without any reason but do not get panic and sell off the coin.

[stephanirain]

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 mistake that i have done that makes me poor in cryptocurrency is selling all of my holdings in a low price or panic selling i was so down that tume because i thought that all of my holdings will never increase again. Another mistake is opening phishing websites that cause me to get robbed by hackers.

[Binugon]

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.

do not ever be sad when you have take profit, but the market continues to rise, do not impose to buy, because in this situation as a beginner trader will get carried away and feel sorry because it was closed early, which finally you decide to do buy position again, and eventually the market goes down and your capital becomes stuck.

[bajingluncat]

mistake, no one who deliberately do it, but every person must have made a mistake especially in business, sometimes mistakes happen because of trivial action, but what I believe, if we want to learn, equip ourselves with science at least we can minimize losses oraipun we fall, we can take lessons as experience, and that something very valuable maybe materially we will be poor but from there we will get the most basic and expensive capital that is experience, as long as we do not repeat the same mistake, and dare to rise up and start it again I think we will get better results, no successful people who never make mistakes, and what matters more in running the business must logic that work is not a high dream at least it will be a reminder for us when we begin to be tempted by iming iming a big advantage that is not necessarily true

[KenChanYu]

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 mistake that i have done that makes me poor in cryptocurrency is selling all of my holdings in a low price or panic selling i was so down that time because i thought that all of my holdings will never increase again. Another mistake is opening phishing websites that cause me to get robbed by hackers.

Every experience, good or bad, we learn from it. The mistakes I've done is the same with what others have commonly experienced. Panic selling can never give good outcome. I was driven by my emotion that lead me to decide unreasonably and was so impulsive to gain profit quickly, not weighing things out if it would give positive or negative results. I learned that knowledge, preparation, hardwork, and patience are the important factors that would help us guide and give us wisdom to make informed decision.