I read 250 comments of people saying what they learned from investing in crypto

[rdluffy]

Hey this is pure gold, or BTC 
I agree with all, and should be read by every person who want to buy cryptos and learn about

But I have to say, there is some statments that you'll only learn with practice

[1714122044]

1714122044

[1714122044]

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[kryptqnick]

But the summarize of all the comments from there is something I arranged by myself (I'm gathering trading tips for the upcoming bull market)

what i see from your post is copy paste. you don't summarize them, you just cut and paste words from one, two, or more post. even the wording is 100% similar.

Yeah, you are right that it's not right to call it summarising, which is probably why the original post was edited accordingly. Even with the text belonging to other people, I think it's a great deal of work to go through 200+ comments and choose the most important ones. Some of these pieces of advice are more relevant than others, but the overall list seems not so bad.  Even though many rules can seem simple, people often make mistakes with easy things, so sometimes it's the basics we have to be reminded of, like not being greedy and not investing more that we afford to lose.

[Ryan Dugan]

Crypto to crypto exchanges are not taxed. How? Cryptois issued by people to other people not by the government. There is no tax to pay. I wish people stop this. It's like you enjoy paying tax. If you a big believer in tax then by all means use fiat.

I was thinking of giving you a merit but im not sure of this is a copy taste and I was once fooled before and was annoyed for giving merits for a copy paste. I won't let it happen again.

[smyslov]

Good compilations the community can use this as a guide at different occasions if Buffet has his own set of quotes that his followers can use, it's about that we should have our own too, this is a big help for newbies who will just come in to invest in cryptocurrency.

[Fred3030]

I must say you have done a nice detailed analysis of common statements associated with investing in crypto. Some are entirely true while some are not. For me I hold the following dearly as my crypto investment principles

1. Never invest what you can't afford to loose

2. Don't hold blindly without any actions

3. Don't bring your emotions into crypto

4. Don't fall in love with your bags

5. Know when to sell and when to buy

6. Never catch a falling knife.

[Twinkledoe]

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)."  If a holder doesn't sell yet at this point, then, it is called greed.  I might do that also if I see that coin is still continuously rising. LOL

[rdbase]

I like these statements about cryptocurreny you have pointed out because I think atleast everyone who has been apart of it and have invested in it has heard one of those phrases atleast once in their lifetime.
Unfortunately I havent taken heed in these ones: - Don't invest it all at once, do it in stages and - Only invest what you can afford to lose. ~ as I dont have any crypto to show for the decisions I have made within my cryptolife.

[Successmaniac4]

You need a lot of courage to invest in crypto. It is all about taking risks and being ready to face the consequences that comes with the risk taking. Don't invest too Mich and don't be carried away by the sharp increase in the price of a coin.

[pixie85]

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)."  If a holder doesn't sell yet at this point, then, it is called greed.  I might do that also if I see that coin is still continuously rising. LOL

No it's not always greed. Some people don't sell even when they're up 400x because they don't need fiat and they are not traders.

Some people believe in crypto and want to spend it. They don't want to exchange and have to pay taxes on their crypto. They don't want to be spied on by government ass kissers like coinbase. They prefer to be paid in crypto pay other people in crypto give friends and family crypto gifts and hold for the better future!

[sunsilk]

All of them are correct. I'd like to highlight that leaving your funds on exchange which is absolutely right. Never ever leave large sums of crypto on exchanges these days because hacking is hot and it happens almost everywhere.

Same goes for the first comment, leave the funds on exchange that you afford to lose. I know it is hassle if you will keep on transferring from time to time (exchange <-> wallet) but it's better to pay the fees just to be secured with your funds.

[malevolent]

This topic used to be pinned in the newbies/beginners section:

Trust No One

Seriously. Don't trust the exchanges, don't trust online wallet services, don't trust your anti-virus software, and don't trust anybody online.

[jonathan6655321]

But the summarize of all the comments from there is something I arranged by my self (I'm gathering trading tips for the upcoming bull market)

what i see from your post is copy paste. you don't summarize them, you just cut and paste words from one, two, or more post. even the wording is 100% similar.

here's the original post from your 'source':

-The Mt Gox price crash taught me patience and if in doubt, just wait and hodl
-The bull market makes you feel like a genius because every coin you buy goes up, but only the subsequent bear market will show which of your picks were actually solid
-Adoption doesn't happen as quickly as most people think
-Market cycles are a real thing, it's good to understand them
-Don't listen to people who brag about some quick gains they made by chasing some pump - most of them will get rekt sooner or later and silently disappear from these subs
-Short term swing trades are harder to pull off than they may appear. The short term market fluctuations are often irrational
-It's much safer to play the long game: DCA buy around the bottom, hold patiently until the end of this market cycle and then DCA sell around the top
-Don't leave money on exchanges. Even the biggest exchange can get hacked
-Double check that you wrote down all seeds, passwords and 2FA codes properly and keep them in a safe space (Evernote or any other cloud space are not a safe space for your seed).
-Don't forget about taxes. Every trade, even crypto-to-crypto is a taxable event (in most jurisdictions). This can add up quickly. Make sure to document every trade
-Even with all that hype in 2017/2018, it's not too late to join this game and make profits. We are still early on.

Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)
Waiting for a buy in price you like is better than settling for a price you know is too high
Don't invest anything significant in random low cap projects, even if you like them. Always approach low cap projects like you would some shady penny stock and expect that anything you invest could be lost in the blink of an eye.
Don't tell family or friends to buy crypto. If you shill it to them and they inevitably get fucked (likely from 1, 2, or 3) then they will blame you for it.

all taken from https://www.reddit.com/r/CryptoCurrency/comments/bwojdm/what_have_you_learnt_since_first_investing_into/

When I said summarized I meant that I took the answers I liked the most.
I gave credit to the source

If you're looking to spread some negativity here go ahead

[pooya87]

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)."  If a holder doesn't sell yet at this point, then, it is called greed.  I might do that also if I see that coin is still continuously rising. LOL

No it's not always greed. Some people don't sell even when they're up 400x because they don't need fiat and they are not traders.

Some people believe in crypto and want to spend it. They don't want to exchange and have to pay taxes on their crypto. They don't want to be spied on by government ass kissers like coinbase. They prefer to be paid in crypto pay other people in crypto give friends and family crypto gifts and hold for the better future!

it depends on what they are holding and not selling.
if it is something that they have actually analyzed and came to the conclusion that it has a true long term potential of growth so they made an "investment" then it is more than fine to keep holding it and not selling and you are correct, that is not greed, that is planning. like bitcoin.

but if it is some altcoin they are bag holding without any analysis and just based on what the social media pumpers told them about some fake potential and just because they hope the price goes up, then it is obviously greed and stupidity combined. this won't end well for them ever.