5 Big mistakes for a beginner in cryptocurrencies ✌

[sirohige]

what you mentioned is very true but you can minimize your statement, there may be many new people who cannot control their patience so they make a lot of losses and they do not understand how good and true trading is a very clear influence that will make them loss.

[Pattart]

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

[JosefinaCrane]

Although there are a lot of mistakes that any newcomer makes, some of the most common mistakes are mentioned below:-

Not doing your homework:- Don't blindly follow anyone's advice instead do proper research and study the industry trends before investing heavily.

Lack of patience:- As it is said: "Patience is a Virtue". You need to have patience, buying and selling without proper planning is not the way it has to be. You need to plan accurately before trading in cryptocurrency.

Inadequate knowledge:- People invest big without knowing exactly how cryptocurrency works. It is necessary to get complete knowledge of what cryptocurrency is and how it works. People need to have an up to date information so that they can take a wise decision during trading in cryptocurrency.

Not maintaining vital information:- Keeping track of passwords, private keys is necessary. Most of the times people don't note them down and memorize them for the time being and then tend to forget them. So it is always beneficial to note them down and keep the information in a safe and secure place.

Avoid 2FA (2 Factor Authentication):- Two-factor authentication acts as a safety parameter as it provides additional security features reducing any spammy attacks.

[tailwate07]

I agree with you and also i must add that another top mistake beginners in crypto currency market makes is investing an amount they can't afford to lose, most beginners see the crypto market as a way to get rich quick and they will invest all their money, I have seen a lot of beginners make this kind of mistake. In crypto always invest what you can let go should in-case you lose it

We beginners make several mistakes that result in loss or can completely kick you out from your circle towards loss. For safety and fine work you must adopt the market knowledge that will enable you to keep everything fine and you will not face any difficulty in handling different conditions. I accentuate on selling time that should take place only in high market and should be limited for small profit only.

[Evana17932]

Thanks for the advice!! Really appreciate.
Market keeps changing. I still get many things to learn.

[maarx]

I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.

So let's start♥

1/ 😟 Wrong Investment Strategies 😟

👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.

👉 People invest big at a very early stage without getting a better understanding of the market.

👉 Invest on shitty coins.

2/ 😟 Improper knowledge 😟

👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.

👉 They invest big without knowing exactly how crypto currency works.

👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.

👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.

3/ 😟 No understanding of price fluctuation 😟

👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.

👉 People don't have a holding power.

👉 Fails to understand that crypto currency price also has a tendency to fall.

4/ 😟 Day trading and FUDS 😟

👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.

👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.

👉 Start "Day Trading" which can be very risky if you are a beginner.

5/ 😟 Security risk 😟

👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.

👉 This often pose a serious threat of losing their coin hacking or malfunctioning.

👉 Don't activate 2FA security.

👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.

Thank you very much everyone 😉

A good information shared for beginners. Good work though. Yes everyone who starts up, has initial struggles even though after getting advice from experts or seniors. Everyone would become strong when he/she comes though such incidents. Few easily catch up and few take time to  adapt to the situation. I am sure for everyone the above points would seriously support to gain much experience and solve the basic issues they go through in trading. Keep up the work going.

[learntonoob]

I agree with you totally. Trader need to be well-prepared before doing anything in that market.

[perfect999]

I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.

So let's start♥

1/ 😟 Wrong Investment Strategies 😟

👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.

👉 People invest big at a very early stage without getting a better understanding of the market.

👉 Invest on shitty coins.

2/ 😟 Improper knowledge 😟

👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.

👉 They invest big without knowing exactly how crypto currency works.

👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.

👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.

3/ 😟 No understanding of price fluctuation 😟

👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.

👉 People don't have a holding power.

👉 Fails to understand that crypto currency price also has a tendency to fall.

4/ 😟 Day trading and FUDS 😟

👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.

👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.

👉 Start "Day Trading" which can be very risky if you are a beginner.

5/ 😟 Security risk 😟

👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.

👉 This often pose a serious threat of losing their coin hacking or malfunctioning.

👉 Don't activate 2FA security.

👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.

Thank you very much everyone 😉

Yes they make all these mistakes, but there is one thing that is not on this list and it surprises me when I see that people doesn’t know that– I mean the fact that this is all about risk. Some people here just don’t know that there is risk in this, they just think that Bitcoin continues to grow forever and that price never falls and all they will be making is profit.

And at last when they happen to lose they will start complaining and saying Bitcoin is scam. Bitcoin is not a scam, risk is something that happens in every investment.

[wuvdoll]

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

Those many people you are talking about who cannot control their patience or emotions when it comes to trading should not even be trading at all, as trading with emotions certainly shows someone who does not have a plan or strategy and someone who does not have a strategy shows someone who does not have any idea what they are doing when it comes to trading and not ready to learn, and I must say people in this category always end up falling a huge victim when it comes to losing out hugely on their trading funds. The major mistake a lot of beginners make when it comes to trading is taking learning with levity.

[KingdomHearts]

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

Making mistakes will lead to bad consequences during your trading time, and most common mistake is to make a decision without monitoring market price and you sell it. Always make good decisions according to market guiding principles and rules we learn as market basics. Anyhow, start focus on your position right now because you have to make sure you are in by buying coins.

[blackbold]

the biggest mistake of beginners in crypto seems to be due to the influence of the news, so that they aren't firm and not optimistic in making decisions, they are swayed by info about crypto which is still not necessarily correct

[kavishka]

maybe I think the biggest mistake here is how trading investors are losing today

[iamaruf]

Yes you are right.Also I did some mistakes when i was newbie though I am not expert now.But I know that maximum newbie do this kind of mistakes.Newbie need to learn more before they tried crypto trading.

[matchi2011]

Yes you are right.Also I did some mistakes when i was newbie though I am not expert now.But I know that maximum newbie do this kind of mistakes.Newbie need to learn more before they tried crypto trading.

This is a good information which very helpful not only for newbies but also for those inspiring investors who's looking for betterment of their
chances inside this business, knowing this information one by one and categorizing how well you can adopt in enhancing your skills are really
beneficial, each mistakes can be corrected by knowing proper ways to begin with.

[Finestream]

I agree with you totally. Trader need to be well-prepared before doing anything in that market.

Exactly.Don't just do trading because your friends are already into it.Study first all the needed information because trading with improper knowledge or even lack of knowledge will not help you at all.It can only make you lose your capital.And be cautious in every decisions you take because crypto investment is a very risky thing.

[Bitcotalk]

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

Right! I have seen this as well. However, we have to understand that being an older user does not necessarily make you smart. A lot of people may be in a place for a very long time and they are too lazy to want to know what is happening around them, how they can do things better and what not to do and you can get to see a newbie who takes learning seriously and will be able to do better than someone who claims to be an old user.

It is just about the readiness to learn and most people even when it comes to trading are too lazy to get that done and that will definitely keep affecting them as they try to proceed in the long run, which also has to do with security that you mentioned as well.

[Kadal Ijo]

I hope everyone is good. Today, I will present you top 5 mistakes which are usually do a beginner. I understand these topics from Youtube and like to share it with you. So that no one else will make such a mistake in future.

So let's start♥

1/ 😟 Wrong Investment Strategies 😟

👉 People invest into cryptocurrencies by borrowing money from relatives and panic sell whenever price falls to cut their losses.

👉 People invest big at a very early stage without getting a better understanding of the market.

👉 Invest on shitty coins.

2/ 😟 Improper knowledge 😟

👉 The most common mistake that people do is that they get involved into the crypto currency by a MLM trader.

👉 They invest big without knowing exactly how crypto currency works.

👉 People who get into crypto often don't do proper research before investigating into an Coin or into an ICO.They don't read the "White Paper" of the coin.They don't research about the technology and the team.

👉 People also don't keep them upto date by the latest news and because of this they often miss out the profit opportunities as well as incu huge loses.

3/ 😟 No understanding of price fluctuation 😟

👉 I have seen people getting into cryptocurrencies when it's on a rise and every coin in the market on bull run.

👉 People don't have a holding power.

👉 Fails to understand that crypto currency price also has a tendency to fall.

4/ 😟 Day trading and FUDS 😟

👉 Another common mistakes beginnings do is that they get effected by the FUD's very easily and quickly and therefore sell their coins.

👉 Another mistake what people do is that they join pump and dump groups on Facebook and whatsapp and other social media sites and follow them blindly without DYOR.

👉 Start "Day Trading" which can be very risky if you are a beginner.

5/ 😟 Security risk 😟

👉 Keep all of their long-term #HOLD coins on different exchanges instead if keeping them into digital wallets.

👉 This often pose a serious threat of losing their coin hacking or malfunctioning.

👉 Don't activate 2FA security.

👉 Instead of writing down the key phrases and passwords on a piece of paper they memorize it and often forget their passwords.

Thank you very much everyone 😉

I also have been in that situation that I made a lot of mistakes. But because of those mistakes I finally have been fully profitable because I now know how to do it properly.

lucky if you can correct mistakes and don't do it again. i still experience above things, until now i still learn to be able to profit consistently. the main thing is we must want to learn from mistakes, and longer we can approach perfect knowledge we have

This is good tips, this is a guide for a beginner in cryptocurrencies, and most of the mistakes of beginners are always panic when they see the drop price is more than 5%, I have also experienced, but now I can be calm and relaxed even though the drop price is more than 5 %.

[Omega Weapon]

This are real problems faces by a beginner in the industry and it only takes experience or good mentorship for a beginner not to fall into such mistake. This article was helpful and I also learned new things with it

There are many people that have been around the market for a very long time and yet they make the very same mistakes, so I really do not think that this is a problem of the newbies not taking care of their coins, this is a general problem that happens because people are not used to take care of their computer files as much as they should.

Yeah of course it's not just the newbie who made that mistake, even some older users have done that. I still see many older users who complain about the security of their wallets because they were stolen, then I ask if they use 2fa? they say no. every people must make mistakes and we must learn to improve that

Right! I have seen this as well. However, we have to understand that being an older user does not necessarily make you smart. A lot of people may be in a place for a very long time and they are too lazy to want to know what is happening around them, how they can do things better and what not to do and you can get to see a newbie who takes learning seriously and will be able to do better than someone who claims to be an old user.

It is just about the readiness to learn and most people even when it comes to trading are too lazy to get that done and that will definitely keep affecting them as they try to proceed in the long run, which also has to do with security that you mentioned as well.

This is very common, and this is because those people lack curiosity, many people think that just by being in the market you will acquire the necessary knowledge and experience to avoid most of the scams and hacks and that is not true, you need to read about the strategies used by scammers and hackers to try to get to your coins and until you do you are as vulnerable as any newbie.

[last7minutes]

Also beginner trader ia often panic when someone spread the FUD, but they bring profit to expert trader

I think, the guys usually start to panic when they see that the tokens they invested in are falling. It is always better to think it over, which of the altcoins to buy.

[jonaire99]

Many beginners or newbies feels excited about the profits they possibly get from investing and trading cryptocurrencies. This excitement if they didn't able to contain will lead to joining the trade without basic knowledge in cryptocurrency investing. The result will be financially disaster for them because they had still no basic knowledge in trading. Every newbie should educate themselves first on the basic of crypto trading and they should also learn how the cryptochrrencies works to avoid or lessen their future mistakes.