Mistakes That Make You Poor Poor In Cryptocurrency

[Semar Mesem]

There were many mistakes made by investors about cryptocurrency, they thought that with crypto investment it could instantly make a fortune, besides that they did not detail what the real product was from the crypto.

[fernandoclause]

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.

maybe this post scared people to invest in cryptocurrency, and I still can't find a solution to this

[btc78]

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.

Complete list of major factor why many are losing in crypto and don't get to recover from this

But whats important is the attitude of the person involving in crypto,we must learn that before earning risk is on he other side,and all we need to do is not absorbing this as hindrance for your success

Let this list from Op as a example of things we must prevent from happening

[RBEP-RBC]

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.

Complete list of major factor why many are losing in crypto and don't get to recover from this

But whats important is the attitude of the person involving in crypto,we must learn that before earning risk is on he other side,and all we need to do is not absorbing this as hindrance for your success

Let this list from Op as a example of things we must prevent from happening

I would also add the following:
1. Trading frequently in and out of coins to try and time the market. The odds are heavily against you being able to time the market right on the way up or down.
2. Not having a strategy for when to get in and out.
3. Sending you coins to the wrong address.

[Golftech]

There were many mistakes made by investors about cryptocurrency, they thought that with crypto investment it could instantly make a fortune, besides that they did not detail what the real product was from the crypto.

Common mistakes that most crypto investors faces when started entering this market, thinking that it is an easy access to become fortunate, not doing their own research and assume or relied only with someone who's much earlier than them to enter the market, those things that needed to be learned should be taking into credit and be reviewed correctly.

[chrisculanag]

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.

maybe this post scared people to invest in cryptocurrency, and I still can't find a solution to this

Yes i agree with you because of this many individual are really scared but we have a solution for that problem just search more about the securities and find a most effective ways to avoid scam . If you are know the safe ways to use crypto you have a chance to be a successful trader or millionaire. Be positive , do well and stay safe. Thats all.

[Diablesfunis]

Yeah I agree with most of you've said and the most important thing in crypto is securing your private key, this can be advantage or disadvantage as you have full control of your money so you have to keep it secure but people not used to do that so they don't care that much about the private key and later cry because they can't access their own money.

[Masleo]

Fortunately I have not experienced this error and I will try to avoid this as much as possible by learning from others' mistakes. Like we know the best experience is the experience of others and we can learn from it.

[Abolaji11]

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.

You have said it all. Infact I can say u read my mind correctly. Greediness?? That's what is killing people not only in cryptocurrency but in every works of life.

[w33man]

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.

Another thing is investing in too much to be true investment scheme. Take note that cryprocurrency was not created to make anyone rich over night. Sometimes being too greedy make people lose a lot of money and end up being scammed in cryprocurrency.

[Sarastiche]

My major mistake is the fact that I did not settle down to understand how the cryptocurrency, I burnt my fingers with my investment/ portfolio due to lack of knowledge before investing. Also I bought Coin Witbase on h Rumors and hype, it latter turn out to be a fake hype.

[Finestream]

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.

Another thing is investing in too much to be true investment scheme. Take note that cryprocurrency was not created to make anyone rich over night. Sometimes being too greedy make people lose a lot of money and end up being scammed in cryprocurrency.

Exactly.As much as possible we all need to be cautious in everything we do particularly in making big investments.I believe cryptocurrency had helped a lot of people in making their status in lives improved but for sure it won't take an overnight process.So let's take it one step at a time.There's always a perfect time for everything so we should learn to be patient and not being greedy because it will only lead to big losses in life.

[rickyharun]

My major mistake is the fact that I did not settle down to understand how the cryptocurrency, I burnt my fingers with my investment/ portfolio due to lack of knowledge before investing. Also I bought Coin Witbase on h Rumors and hype, it latter turn out to be a fake hype.

equipping ourselves with sufficient knowledge about investing in cryptocurrency is very important. we will be able to avoid things that make us suffer losses.

[jademaxsuy]

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.

Actually i do not consider this as a mistakes because these are just weakness and not having preventive measures that these things could really happen. These are considered as cautions to everybody who do involve on cryptocurrency. Anyway we have common sense we know what we should do.

[Elips1]

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

Yes, that's true because we are the guardian of our personal assets just like our pin codes that we are the one knows it.
The common mistake of others are lack of knowledge on how to be safe, so we should protect our assets consistently.

[legenduim]

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.

Probably the worst mistake anyone can make is getting hyped into business, being too confident, and then just jumped right away without even learning the pros and cons of bitcoin...in short lacking of knowledge will simply put you on the verge of crisis.

It seems to me that one of the biggest mistakes that can make you poor is the wrong choice of the altcoin. really, do not believe the rumors and be careful when picking an alt.

[Scavagers]

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

There are normal missteps which influences you misfortune to benefit simply like contributing without information on it.There are heaps of ICO ventures rising these days so basic sort of speculators botch is they hop effectively into those undertaking without assurance.That is why rather they will win they have misfortune in their investments. Carelessness will likewise prompts inconvenience like your records will be hacked or you may get misled effortlessly.

[krauzzer02]

That's why when you are going to invite some new folks to try crypto then you should heed then in advance about the risk, mistakes like this one, warnings, not going to rich overnight, basic technical and security stuff to crypto wallets and more most especially the technical stuff, they should be aware of the wallet stealers, cold storages backup, passwords and stuff.

[lixer]

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.

Actually i do not consider this as a mistakes because these are just weakness and not having preventive measures that these things could really happen. These are considered as cautions to everybody who do involve on cryptocurrency. Anyway we have common sense we know what we should do.

There are number of investors who are busy in investing their money into different crypto currencies but not all of them are getting this opportunity to make some good earning and the reason behind is the lack of knowledge and self-motivation to being some positive change in their lives. It gets very much difficult for them most of the time to control their nerves and that they end up making wrong decision.

[wuvdoll]

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

Well, things are always bound to get a lot worse when the person refuses to get equipped with the necessary knowledge needed to stay on top of their game. In any investment, even outside crypto, being vast in that area will always help you never to make some sort of silly mistakes in the long run and with that it would be easy to make good call and decisions as the case may be and without it, it gets easy losing even much more unless you just get lucky.

Committing a mistake is natural for anyone but only wise people are not repeating the same mistake whereas all other people are doing same mistakes again and again and finding themselves poorer after certain period of times.