5 mistakes to avoid when investing in Crypto

[AakZaki]

When all the mistakes can be overcome properly, there are still mistakes that are very difficult to avoid by some investors or novice traders, FOMO. FOMO will be related to our mental readiness. When FOMO happens, there will be a lot of hope that will keep us going. It's a good FOMO to avoid being stuck at high prices. The most difficult mistakes are mistakes related to mental or psychological. It takes some practice and self-understanding to avoid being too greedy and must remain complacent.

[Bitbtc8]

Avoid projects that aren't fully transparency, if you don't or can't understand how a project works or functions and the team aren't doing anything to make you understand better it's a sign that the team have no good aim, better go for another project before it's too late

[Squezzi55]

Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.

[10BTCaDay]

the other thing is, avoid investing in projects that don't have complete information. before investing, there are so many things to think about. this is done to avoid scammers. well, maybe doing in-depth research on all aspects is quite a pain. however, be aware that it really does need to be done to reduce risk.

Newbies cannot do any research. people just invest money and only after they lose it they begin to study project models and learn to distinguish scammers from normal projects

[Mulann2]

Newbies usually do what most people tell them to do, most newbies buy and invest on coins/tokens which is recommended to them by the person who introduce them so it is very easy to fall as victim in bad project, so this type of advice will be very useful and helpful.

[LazerPanther]

Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.

Really ? Did they even know blockchain before Bitcoin was born? It's hard to believe words like this, If they have known blockchain for a long time, why are they starting to create a project now?

[Crypto_lion]

If you wanna succeed in making money then you need to avoid FOMO and jumping in. Also understand that if it's not your keys then it's not your crypto even in the trusted exchanges, anything can happen.

[Gunday_07]

After looking at the project utility and the team themselves make sure you invest only what you can afford to lose, we can never predict what will happen to a crypto project after few months later, this is the best advice i can share about this

[Gunday_07]

Many new projects have bad teams that lies about their experience to everyone, make sure you do research on who the teams really are, I believe AVAX became so attractive because of the team, they knew about blockchain before Satoshi brings Bitcoin to the world.

Really ? Did they even know blockchain before Bitcoin was born? It's hard to believe words like this, If they have known blockchain for a long time, why are they starting to create a project now?

Avalanche CEO is a big blockchain programmer who already existed before Bitcoin, there are few coins that existed before bitcoin but aren't successful, these coins are from AVAX CEO himself

[carriebee]

After looking at the project utility and the team themselves make sure you invest only what you can afford to lose, we can never predict what will happen to a crypto project after few months later, this is the best advice i can share about this

This is also important especially to newbies just invest on what you can afford to lose. Not all crypto are profitable and legit project so we have to checked the project if we're planning to invest. Also the best is diversify our asset this could safe us from losing our money. Know the risks or else we will earn nothing in crypto.

[bbcolex]

If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes

1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.

2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.

3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.

4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true

5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges

Hey man, im a newbie in this crypto exchange stuff. Id like to say thanks, for a newbie it is kinda easy to get scammed at the start. Ill be sure to keep your advice in mind. Thanks again.

[Henrytrust]

It's best to take some time off to study about the cryptocurrency industry before getting involved in the space. One of the reasons why we have many people falling victim in the space is because several people don't know the do's and dont's of the industry. This post is awesome and I hope more newbies go through it.

[VanityWallets2015]

This information found on this thread is very crucial to be considered especially for those are new around here.
Knowledge about crypto industry is vital in order to survive and thrive with how things are working in this platform.
Study, know your limitations and expect to experience failures but do not give up.

[ecnalubma]

It's best to take some time off to study about the cryptocurrency industry before getting involved in the space. One of the reasons why we have many people falling victim in the space is because several people don't know the do's and dont's of the industry. This post is awesome and I hope more newbies go through it.

People who made huge loss in crypto because basically they don’t know what they’re doing which we probably made the same mistake, some are likely engage in scams first before they know how crypto works. Nobody will educate us about crypto instantly so basically studying or knowing what you’re doing is the key to minimize the risk in any kind of investment.

[Rafiqul]

Newbies usually do what most people tell them to do, most newbies buy and invest on coins/tokens which is recommended to them by the person who introduce them so it is very easy to fall as victim in bad project, so this type of advice will be very useful and helpful.

It's okay to listen to the advice of others; But to make it work, you need to check if the advice is correct. If you rely on the advice of others, you will lose your capital. So for this you need to know a lot, do research, whether the project you want to invest in is fake, whether the project team is active, you need to know about the exchanger to invest in. In addition, you need to keep your various account passwords and private keys safe.

[killerfrost]

If you are a newbie in crypto world you are bound to make some mistakes but this thread is for you on how to avoind making those mistakes

1. You dont want to skip the learning part- You need to have an idea of what youre going to even if it is to make a research about it. You have read about an asset before you invest in it to know exactly what they are building.

2. You want to avoid using the wrong crypto exchanges. This is one thing you want to avoid because it can make you lose all your assets. You need to research about the exchange before even registering. Some exchanges have fake volumes and are not transparent enough.

3. You dont want to rely on a single coin- Diversification is very important when it comes to investment. You dont want to put all your eggs in one basket.

4. You want to avoid the fear of missing out (FOMO)- When you see everyone buying a trending coin you dont jump in, it might too good to be true

5. You dont want to forget the basic security. Keeping your private keys safe is very important. As a newbie you should understand how important private keys are. Also 2 factor authenticator shold be added to all your exchanges

Great, this is what newbies need to learn before they want to enter this market. They need to know the security of their accounts and computers, then need to diversify their investments and have the knowledge of choosing altcoins. Especially need to have a good mentality when trading and avoid fomo in this market.

[BITCOIN4X]

People who made huge loss in crypto because basically they don’t know what they’re doing which we probably made the same mistake, some are likely engage in scams first before they know how crypto works. Nobody will educate us about crypto instantly so basically studying or knowing what you’re doing is the key to minimize the risk in any kind of investment.

Being too excited is not a good thing in term of investment. Indeed, cryptocurrency investment can be said to be a profitable investment, but if we make a few mistake, the effect will greatly affect your existing capital.

I am not sure any newbie investor would dare to put a lot of money into cryptocurrency without knowing how this cryptocurrency investment work. Another if they get caught up in a scam like a ponzi scheme that is widely circulating on social media. Confirming what you say, experience and knowledge sometimes come from mistake we make.

[perfect999]

Yup, never to skip the learning stage. What your friends tells you about cryptocurrency is not enough to get you through this.
I got to know about Bitcoin and other cryptocurrencies when I was at the hospital for a visit with some of my friends and they started talking about crypto mining, I got interested and joined the conversation.

They thought me a lot and also sent me the wallet to use, but I didn’t stop there, I still went home and started researching the things they thought me to know what’s right and wrong. And I went deeper into everything to understand it better. So newbies should never skip the learning.

[unusualfacts30]

With the recent number of social media scams, I'd put one more thing on the list: nobody will give you free money. Not even Elon Musk. One more thing is, I'd highly suggest starting to educate yourself about decentralization and your privacy. It's going to be more than worth it in time, trust me. There are a lot of things you may think you're doing right but are completely mistaken about

good one. I saw few of these under different famous people name and surprisingly people sent them money. Its always a good idea to invest some time in reading what other people have to say and learn from their mistakes rather than making it on your own and learning it hard way.

[unusualfacts30]

Always go slow. You dont' want to spend too much in crypto and then end up losing your asset. Invest what you can afford to lose and don't make it too much. Diversify your investments and don't put all your eggs in one basket. Keep yourself informed and control your emotions when investing.