5 mistakes to avoid when investing in Crypto

[Eddyc]

Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.

[hassancisse]

Investing in cryptocurrency is high risk because too many fraud projects and all you need to remember is trust no one. Dont follow the hype of project if you dont understand anything about the project.

just buy a crypto currency that is already in the top 10 coinmarketcap, or buy in binance,
don't follow an obscure ICO or IEO, of course you could be hit by a scammer

Great point. Whats the point of buying ICO or IEO for the price of a good project that is on top 50 of coinmarketcap. Lot of nonsense projects are out promising things that are not possible. Its better you go for the ones that have done it for years and have proved themselves

[freedomgo]

Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.

That's what we do when we are investing, we are always positive that the price of our coins will rise and we can sell at a good profit, but sometimes our expectation does not happen as we can't say we will be right all the time as this market alone is every unpredictable, learning from your mistakes should be the best way to do to finally get the success in the long run.

[Blue_oxen]

Interesting this topic of discussion but analyzing my past well I can say that the worst mistake is to create expectations in something that doesn't yet exist. Yes, believing in promises can throw you into the abyss of dissatisfaction and despair at believing something that you were sure would work even if you analyzed and studied the information about the projects.

That's what we do when we are investing, we are always positive that the price of our coins will rise and we can sell at a good profit, but sometimes our expectation does not happen as we can't say we will be right all the time as this market alone is every unpredictable, learning from your mistakes should be the best way to do to finally get the success in the long run.

Same thought as me! Of course, when we investing in any project, we have to believe that it will have a certain chance of being successful. We need to be positive in our investment, though, we also need to be wise! Personally, the most important step to me is the to do precaution! I do all the hard works such as doing research, looking for the successful rate of the project, etc.. When I make my decision, I will not be too hesitate!

[Festac]

1. Don't invest on new coins that aren't  popular or have popular partnerships

2. Don't invest on new coins that only want to list on p2pb2b exchange or other small exchanges, they always have wash trade and fake volumes

3. Go for top altcoins that are still cheap, they protect your neck more than new altcoins in crypto market today

[Docbee]

And you forgot about the most important thing, invest only what you can afford to lose. Cryptocurrencies are a new form of digital assets and we still do not know, if they have a future or not.

Exactly, investment in crypto is just too risky.  You can gain the double of what you invested in couple of days or months, as well as lose everything within same period.  Only invest what you can afford to lose.  Furthermore, it has been advised several times on this forum that, if you're a newbie investor, try and stay away from the new projects until you gather some Knowledge and experience about the space expect you have an experienced and trustworthy investor that can help out, better still, invest what you can afford to lose on the top 10 ranked coins/tokens on coinmarketcap.

[Claudio99]

FOMO isn't entirely bad, it's just that it's a dangerous tool from new projects with small market cap, FOMO should only take over you if it's on Bitcoin or top 5 altcoins in crypto space, stay away from small altcoins with low market cap, they create FOMO only to dump on investors

[tiang_tower]

These are parts of the mistakes not to make but there are several more. One thing about cryptocurrency investment is that the more you're into it more you learn.

Yes, obviously the things you mentioned are things that are always experienced by many people, including myself, because in the past when I became interested in crypto and investment, every day I always take the time to learn new things in crypto and investment methods.

[Kong Hey Pakboy]

These are parts of the mistakes not to make but there are several more. One thing about cryptocurrency investment is that the more you're into it more you learn.

Yes, obviously the things you mentioned are things that are always experienced by many people, including myself, because in the past when I became interested in crypto and investment, every day I always take the time to learn new things in crypto and investment methods.

Indeed. You should always take your time to learn and explore new things in the crypto world because we won't achieve our goals with cryptocurrency if we won't work hard for it. Also, you should learn how to control your emotions when you are investing in crypto that you shouldn't let your greed overcome you because you could lose your funds.

[semobo]

Basically investment should be made after clear understanding about the project but most of the people here are missing out it, they are running behind a project which advertised by top exchange and influencers via different social media platforms.And also avoid investing on new project on this most of the people won't agree but in reality crypto market is overwhelming with new ideas and projects so none of them are getting real attention.

[fuer44]

actually not only beginners, but old players also still often find a mistake, especially when there are new projects. without realizing it, everyone including old players must also be interested in new projects that are not yet clear how it ends. but the difference is, old players will decide longer and will do the analysis first. yeah right, this is an important explanation.

[Peanyut991]

I totally agree with all your ideas, but in the world of cryptocurrency the most important thing is to dare to take risks. The price of crypto which is very volatile is not intended for those who are timid.

[yurim37]

1.Invest money that you're not willing to lose
2.Panic shorts when the price goes down : to not confund with calculated (and for me, good) shorts when the price goes down in crypto projects you really believe and so, just in order to see the price goes even more down and buy even more of them than how many you shorted.
3.Not use stop-limit orders and price alarms (without abusing of it of course in the risk of becoming crazy)
4.an obvious one but only watching the numbers and the curves without looking at the content of the projets and the news about it,crypto world and in general -virus,war,oil price,crisis,etc...- (classical trading advises of course)
5.a bit the reverse of the 2 but shorting too early when the price skyrockets despite the fact you truly believe on that project to have even more potential than that.

Actually, 2 and 5 can be summed by "stay calm and composed and think clearly about the bigger picture whatever the price movements are"

[yangongear]

Although I have been in the market for nearly 2 years, I still cannot avoid the biggest mistake that is FOMO, especially when the market is growing strongly as at present. At that time, I broke down my own rules and bought crypto at very risky prices.

[bits4books]

Almost every month, similar posts are created - but still there are newbies who come to the market and think that they are the best.
Can you stop writing like this and switch to the "survival of the fittest" tactic as the usual (and any) market works? No one here needs another suicide because of drained credit money or some other nonsense. Those who ready for real investments will deal with this world themselves - there are plenty of resources.  guys with negative IQ are definitely not needed here.

[ethereumhunter]

Although I have been in the market for nearly 2 years, I still cannot avoid the biggest mistake that is FOMO, especially when the market is growing strongly as at present. At that time, I broke down my own rules and bought crypto at very risky prices.

Many people have the same thing as you, and we still trying to control ourselves from the mistake. Maybe we feel it is difficult to control, but we still need to try no matter if that will be hard because only with controlling ourselves, we can stay calm in any situations and avoid to make another mistake. Buying the coin when the market growth is too risky because we don't know if the price can still increase or not, so we need to calm down first to see the chance.

[Bes19]

All you mention would be really helpful but i cna say that if you are a newbie, you better Do Your Own Research (DYOR).
Not everything you hear from a friend or someone else is right. And ofcourse Invest what you can only afford to lose so you won't cry later.

[KrisAlex18]

Every newbie that got in here and are still not familiar must start from the basics of learning everything about cryptocurrencies to avoid or lessen committing mistakes with regards to investing with cryptocurrencies. They must know first what they have got into and acquire knowledge that they need to be able to be familiarize on everything they must know. Doing research is really a great help for better understanding. Once you have acquired knowledge, that is the time you get to explore the investment part and do the same thing of understanding how investment works and apply what have you learned on familiarizing yourself about cryptocurrencies in the market.

Investing into old and reputable coins will be a good start to have your journey on investment. Although some new coins have potential to be profitable, still it would be safe for a newbie to try investment first on known and reputable coins because new coins are risky most specially for the newbies. Learn to take hold of your funds. Upon investment, learn the thing that many people here in the forum always say "Invest only the amount you can afford to loose" because it will serve as your limitation and starting point upon doing investment so that if ever fail investment comes, you can easily move forward already taking no regrets.

To cut it all short, being knowledgeable on the thing you want to get with will save you from committing mistakes so better start up learning and the rest will follow. Do not rush things into your way because regrets always comes last so better take it easy on having the basics.

[Vilagra]

The main mistake in my opinion it buy on FOMO when assets already cost a lot and sell on the panic when it suddenl fall down. Investor shoul be patient and wait some correctios to buy and don't be greedy and sell when asset already gave you a good profit(it is better to try to find  a new idea which give you a new profit)

[adzino]

Nice tip and suggestions you have over there but you missed out to point the most basic mistake people when investing in crypto currencies. They forget to move their coins to a secured wallet of their own. A wallet where only they have access to their private keys.
Doesn't matter if your if you have 2 factor authentication enabled on your exchange account. If the exchange gets hacked, and loses everything, you will also lose all your coins! Look at those exchange hacks and how users were affected by it. Never hold your coin in an exchange after you are done trading.