5 mistakes to avoid when investing in Crypto

[Fredomago]

Thanks for those instructions, we as crypto investors and traders, we got used to secure our funds and our coins.

We need to learn how to make sure that we are doing the right thing to ensure the security of our assets
while we are inside this business.

We trade wisely and i got used to swing trade sometimes, diversification isn't my type of investment as it might bring some serious losses too if you get the wrong coins in your pockets.

Better to think and assess before taking your side, there are many opportunities if you are willing to take
the extra time to analyze.

It's always recommended to research and to analyse each step before doing any movements, luck may be a factor too in this field but in most of the cases there's a loss risk, our mission is to lower that risk and to try to make the biggest gain possible without any greed.

Luck adds up and sometimes bring you really fortune to earned much higher than you expect.

Newbies must learn, that's a fact, coming with a million dollars without a plan might make you close the account having 0 as a balance. BE WISE.

Those too good to be true practices should be avoided, do your DYOR to lessen the risk of your investment.

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[qomariah95]

From the list above, what is most often feared when investing in projects is like being stuck in FOMO. We need to pay attention to this, especially the trend or Hype DEFI which is a new investment concept at this time. if we put our money wrongly in the Defi project then we risk losing or getting stuck in FOMO.

Fomo DeFi is currently a trend. Many new projects claim to be DeFi, DeFi and DeFi. That will leave beginners feeling confused, what is feared is that these budding investors think DeFi-based projects are sure to be successful. in fact not, it all depends on the team, product and some things that are important in the project.

[blckhawk]

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.

I am both disagree/agree a little bit with this, bitcoin alone is already enough and safe investment if you are holding for long term. But I doubt it will work on altcoins, because some altcoins is not really trusted we are not sure if it will recover after a crashed, so diversification is good option if you prefer to invest on altcoins.

Just a little tip for investors/traders: Always set stop loss  

Quite true. Bitcoin was enough to leave your investment however, there are some cases that Bitcoin won't be profitable in the meantime that is why you better have another coin to invest with. You shouldn't worry about what coin to invest because you can look up to the coins that are behind Bitcoin like Ethereum, BNB, and more so basically the top tier token. Usually, they positioned at TOP 100 and you could look it in coinmarketcap. Besides, the more coin you were to invest the more profit and safer you'll get.

[bangkecol]

Some points that you have mentioned is very true. We must always research about the projects before we will invest on it.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.

[bobyhodob]

Some points that you have mentioned is very true. We must always research about the projects before we will invest on it.
Then, Don't for to invest money that can afford to lose. Because, sometimes investing is like a gambling.

indeed investing in altcoins has a very high risk but you must know that behind a very high risk can provide a lot of profit, meaning you have to be brave with the risks that exist and face them because if you just act, make sure to also invest in altcoins that have a supply. which is very limited so as to minimize the existing risks.

[sulendra12]

It is what newbies aand also people that said they are "experienced" at trading struggles to including me. They always do overthinking stuff, but they always don't remember about basic stuff such as investing on one basket or even keeping your assets on exchanges that you don't have access to the private keys. Either newbies and pros should definitely take a note on that.

[cryptopediabd]

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.

And never ever loan, borrow money from someone of in a bank or credit card and it put in investments or trades cause you really don't know what you up to, it is too risky too make such moves. Better have or own money and make your own decision in order not to regret once the unfortunate things happen.

I usually does that. Whenever i invest in cryptocurrency I invest what can i lose. So I do not invest too many money because crypto ico/ieo project can be scam in any days. Everybody need to follow this rules.

[Alohadanc3]

You are absolutely right. The points you are mentioned is really good. Most of the new comers come to this market and they don't want to wait. So without any knowledge they started to invest. And most of the time they end up in loss or scams. So this is why watching the market is very important and learn about it. And yes many of them rely on one coin and most of the time that coin is not bitcoin or any high cap coins. If you are new don't take that much risk. Always devide your asset into 3-4 or more parts. And always think about basic security management. That's also very important.

[royalfestus]

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.

I like the fact that this advice comes first and it is the most important of all, which could also take care of others. The urge to make money from crypto like some others do push many people to fall into scam or make big money mistakes in the space. I think this forum should take care of most of the challenges. I didnt realize so much the forum can offer until 2 years pass, most topics that could help every newbie is here and opportunity for question and immediate answers by long time members is available.

[santouao]

Those explanations mentioned above is really helpful especially for the newbies. We have to be careful in every investment that we want to do in order for us to so keep our investments safe. In addition, as a beginners make sure to always understand the basic article used do not depend in your own way have deeper research because if not it will definitely harm yourselves. Most importantly, choosing whats good coin in the market is very important in investing.

[The cure]

I think the above mentioned is correct, it is good that we have guidelines especially for those who are new to crypto space, this will help us to avoid things that we may regret in the future. And one more thing always keep in mind that if you are beginner try to invest first a small amount and let your experience lead you to become proficient in trading.

[Phoenix_PROG]

Even after learning about how to safeguard your coins and how to avoid unnecessary losses every investors must invest only what they can afford to lose, this is the best crypto strategy you can share with anybody, the lower the risk the lower the losses

[sgenuine]

I think the above mentioned is correct, it is good that we have guidelines especially for those who are new to crypto space, this will help us to avoid things that we may regret in the future. And one more thing always keep in mind that if you are beginner try to invest first a small amount and let your experience lead you to become proficient in trading.

It seems that now people understand it. However, do you remember 2018? After the huge in the crypto history market rise, the crypto winter came. Thousands of people literally lost millions. They decided to catch the last train when BTC reached 19-20k, and they were told, it would be offered for 100K.

[InwardContour]

The worst mistake people make when investing in crypto is not taking into consideration risk management. No matter how hyped a coin might be, risk management is very vital while investing. Take for instance, you bought a, coin with 50% of your entire holdings and the next moment a strong FUD sets in, you will be extremely emotional at this point since you put in 50% of your portfolio and hence won't make any valid decision at this point when highly emotional. All the other points mentioned by OP are very essential, thanks for that.

[efxtrader]

Agree that we shouldn't invest in just one coin or project. The price of cryptocurrency is very volatile and the risk is high enough so it would be better if we spread our investment on several projects because we cannot predict which project will bring big profits.

[robattfield]

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

This you may have forgotten about why you entered this market. So not to draw lessons like this will help you improve your self-worth as well as your abilities, most likely newcomers will experience such things, it can make you bored. be discouraged but consider everything your motivation, and determine if you can lose it as well.

[GREENch]

Before you start investing your money somewhere, you need to study both the crypto industry (at least basic concepts so as not to get into a puddle at the first transaction) and the project that you are ready to add your funds to. There have been cases when people on the wave of hype did not even really delve into where they invest.

[freedomgo]

Before you start investing your money somewhere, you need to study both the crypto industry (at least basic concepts so as not to get into a puddle at the first transaction) and the project that you are ready to add your funds to. There have been cases when people on the wave of hype did not even really delve into where they invest.

Crypto is hype in general in my own observation, that alone will make us be more careful when investing as usually who fall for this hype are those investors with lack of knowledge, and even if you are knowledgeable, you should still learn how to diversify your investment as that is the only key where you can minimize the risk and you can survive while investing.

Of course we aim to be profitable but we don't need to go aggressive on few coins only, the market is getting bigger, so learn how to diversify.

[SyndicateLabs]

Crypto is hype in general in my own observation, that alone will make us be more careful when investing as usually who fall for this hype are those investors with lack of knowledge, and even if you are knowledgeable, you should still learn how to diversify your investment as that is the only key where you can minimize the risk and you can survive while investing.

Of course we aim to be profitable but we don't need to go aggressive on few coins only, the market is getting bigger, so learn how to diversify.

As you can see the projects in this space are all over-exaggerated, so it is extremely important to have an easy investment plan. During the planning process you will gain more experience in this space. Moreover, I see that the problem of mistakes is not too big in this market, even when such mistakes I hear and advise from many people, but when I join the investment, everything is the same I still put the mark on that mistake because it's psychological control.

[joseyphil82]

There is no way one won't lose in the process of learning but not learning at all will bring grave losses, newbies must put learning first to avoid falling into many traps that are available in every corner of crypto world

Newbies must also learn to control their taste of greed, this is where FOMO overpowering comes into the game, don't invest because you want to make gains, Invest because the project is very good.