Mistakes That Make You Poor Poor In Cryptocurrency

[t3ChNo]

Itchy hands and pursuasive news.

[virendarnagpal]

I became member here last year.  I can say there has not been even a single mistake on my part.  And in case there had been a minor mistake on my part I could get a big lesson in exchange for it.  I gained following:
1.  Some knowledge about cryptocurrency
2.  Am having few coins in my wallet

But sometimes I feel that I have not gained the amount equal to the time ; energy; money spent here.  But definitely I am sure I will be compensated once the market moves up.

[BlueStackz]

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.

There are mistakes that can only be made by dummies alone. First of all, how can you be creating an account on something that has to do with your money and you just set up any kind of stupid and easy password that comes to your mind… that’s not a mistake, it’s madness and people should stop it.

If you’re creating a wallet, put in a hard password that will be very difficult for anyone to come up with. Next is not having a backup key… ahh… how can that ever be, this is one of the priorities and you should always backup your wallet in case something happens, you will be able to recover them.

[trickyriky]

Being emotional. The best trader is the trader without any emotions, that is not phased by a 200% increase or a 70% dip and just takes profits or rebuys more.

It is not possible to be a man without any emotions. Just try to control them. Maybe, some yoga exercises will help you - I am not joking now. We are all human beings, and we can be emotional very often.

[Sandijoee]

Making a mistake is not good and can sometimes make ourselves lose. In the world of cryptocurrency especially if you make a mistake it will make you poor and have a big loss.

[Veronika94]

A weak password probably plays a key role.

[momoore1989]

 we realized a lot of possible angles of the problem. And after our decision is correct, we continue to face our greed, we do not have the satisfaction, always want a quick move and become rich, that makes us not compromise with low profits, resulting in us making mistakes and poorer in cryptocurrency.

[Betwrong]

There are so many mistakes to be consider with regards to your status as far as cryptocurrencies are concern. In my opinion, one of the common mistake is not grabbing the opportunity to buy bitcoin and other cryptos while their market price is just very low.

That is a mistake that currently many investors are making, the price of bitcoin is very cheap right now and yet people are afraid to invest, they do not understand that if they wait for the price to go even lower they are going to be even more scared to invest in bitcoin, and if they wait for the price to go up then they are going to miss thousands of dollars in profits and they run the risk of investing when the price is high and then a few days later we suffer a correction.

This is very true and we can say that currently this is one of the biggest mistakes one can make in the world of crypto. It's not that it's happening for the first time though. I remember when people were afraid to buy when Bitcoin had fallen from $1,200 to $600 in December 2013. Then they were afraid to invest in BTC when it had fallen from $900 to $500 in the beginning of 2014. And then when Bitcoin had fallen to $220 in 2015 they were even more afraid to buy BTC. And today we can see that any of the above mentioned prices was a pretty good price for investment. And now, believe it or not, we are going down this road again.

[rasp]

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.

Yes, and that't the weakest point of crypto - one has to be extremely careful when dealing with wallets and exchanges.
Despite the fact the those exchanges that recently experienced hack attcks promised to return the funds to investors, it is solely their good will to do so in order not to lose future profits.

[tailwate07]

One of the mistakes that make you poor in cryptocurrency, is when you buy a certain coin at that normal price , and time come for the bearish market and you panic selling in a price below your normal price when you buy it,then you lost your capital a little , and if this will repeat for more times then you lost many ,the results is becoming poor in crypto currency.

So the foolish mistake is to sell it for small profit, its huge profit opportunity is in our hands and this is foolish when we see a little increase in price and sell out coins immediately just to get small profit. Always think high and get updated with the current ongoing situations are well so that you will not fall in these mistakes. Good luck and always follow the basic market rules so you will not perform any mistake.

[Ezenwanyi]

Some of the mistakes that makes people poor in cryptocurency business  are:
Greediness.
Following the crowd.
Lack of knowledge.
Not taking profit when you see one.
Investing all your capital in one coin etc

[Btcallans]

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 agree with this reasons mate. Many has fallen victim by this mistakes. Let's hope that many will become aware by this information to avoid huge loss on investments.

[Bivonisenki]

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.

[zeingrind777]

Being emotional. The best trader is the trader without any emotions, that is not phased by a 200% increase or a 70% dip and just takes profits or rebuys more.

It is not possible to be a man without any emotions. Just try to control them. Maybe, some yoga exercises will help you - I am not joking now. We are all human beings, and we can be emotional very often.

Maybe he can control his emotions because he trades with a very small amount of capital. But if he trades with large capital, there is no way he can get rid of all the emotions in him

[Chrisjay29]

For the most common and biggest mistake that make you poor is sending your profit into a wrong address. That was so horrible all your hardwork and time will be waste in just a second

[malah]

yes the crypto currency is a big risk and if we cannot be wise and make the right decision we will be a loss and we must be careful to keep the crypto in a secure wallet and keep the key safely

[cryptolandlords]

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.

All the newbies in cryptocurrency world should first and foremost be expose to all this protective measure so as to avoid loosing. A friend of mine almost die one day that all his cryptocurrency was hacked because in click a phishing link.

[valentine401]

Making a mistake is not good and can sometimes make ourselves lose. In the world of cryptocurrency especially if you make a mistake it will make you poor and have a big loss.

In my own opinion, if you trade at the wrong time, that is the only reason for you to lose most of your investments and you might go broke depending on how much money you have spend.

[Wittycoin]

The things that makes you poor in cryptocurrency is being emotional, lack of experience, and lack of knowledge and skills, this things will make you end up having loss or will make you poorer.

[Lengcengteng]

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.