5 mistakes to avoid when investing in Crypto

[Amejoaquim]

Most of my friend who loss in this crypto crying because they don't know what they invested in.

They just joining the hype without knowing the project he invested in and when the price falling they just talking shit about their own decision.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

[AWMM24]

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

You have listed core mistakes that a newbie must avoid when investing in crypto currency, and you focused more on exchange and learning. For some reasons, i feel investing in a token requires research, not just the read whitepaper type of research, but core deep insightful research that gives you quick answers about what type of project or developers you are dealing with.

Also, when you say fake or low volumes; believe me those are not enough reasons to call a project bad o inadequate; it merely could just be a bad phase in the developmental stage of the said project; which is why i stated earlier that insightful researching is important. Imagine investing in a coin when it is so cheap and low on volume; then selling in profit when it gets listed on another exchange and builds up volume? Example would be kardiachain and pixby token.

My recommendation though is that, it is your investment, your funds, dyor and invest accordingly. Also, stay in line and always pick up your profits when they appear.

that's a pretty good info to know.

[MCobian]

I totally agree with all the mistakes mentioned by the opening post which are very many made by investors or traders. Because most people
underestimate when they first jump into the world of crypto. They think that making profit on cryptocurrency is enough to buy it at a low price
and sell it at a high price. Even though the reality is not like that, investing or trading in the crypto world is very complicated in my opinion.
Learning is required before deciding to use the money we have to buy the coins we want. There are many rules that must be understood by traders
or investors in order to avoid losses, and can generate large profits. Never be lazy to learn all things about the crypto world.

[lienfaye]

Most of my friend who loss in this crypto crying because they don't know what they invested in.

Thats the usual mistakes of newbies or those greedy to earn. They dont bother knowing the details of what they're getting into because gaining profit (like others) are their main concern. Then they will regret their decision once they experience to lose their money, regrets are always in the end indeed.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

Every investment has risk and no assurance of money back. Hence its really a must to only invest the money that is not meant for important things otherwise you'll get rekt.

[Luffygroove]

great insights for newbies, thank you for this. I would like to add some popular advice too if I may.
1. Don't spend your daily living money, make sure it's cold money, money that you afford to lose. When you trade with sanity, you won't take a bad and rush decision because of a panic state. That's why this is important.
2. Don't easily trust or sympathized with anyone in this crypto sphere, you have to count on yourself and do your own research since this is a harsh world.
I hope it will add the insights

[dotcoin.info]

~
Sad truth! listening blindly without doing your DYOR.

These are our realities. From my own experience, I can say that only those who spend enough time doing their own research earn the most.
Those who are not lazy and do not shift responsibility for their choice to others always fall into big ideas, getting the maximum profit. However, this requires learning and relentless practice.

[alex_andr25]

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

It's more like a parting word than rules or mistakes. The main thing I would note first of all:
- Control your own emotions
- Never enter the market for the entire trading deposit
- Always put a protective stop order to minimize losses

[Mariana Lisa]

Follow these 5 points to avoid mistakes while investing in cryptocurrency:  
                                                                                                                                                                                                                              
1. Buy crypto coin in Bearish market
2. Avoid Panic sell
3. Avoid Panic buy
4. Use trusted exchange platform
5. Don't share your password anywhere

[cryp24x]

Being one of the investors in crypto trading you need to be a risk taker of course. Because if your not ready this matter that means
your not suitable to stay here in this type of business industry. And do not be greedy when you do trade in the actual platform instead be satisfy if you earn a little then do it again in another day something like that.

[Jaered]

Number 4 is the most important one. As a Newbie, the FOMO force is very overwhelming and you can make decisions that can easily rekt you. Though newbies would be newbies

[jdnthny]

I want to add another thing. That is, realize that crypto is not a "1 day millionaire thing". For someone, it does. But it has a low chance and a very high risk. Based on my experience, my portfolio becomes zero many times. Not until I planted to my mind the thinking that it is more likely to be one step at a time than jumping several steps at a time to be successful in this crypto world. And I didn't take my loss too seriously. I forget my loss and bring the lesson that I learned in my mind.

[rodskee]

Most of my friend who loss in this crypto crying because they don't know what they invested in.

then they are all stupid mate , and that is the reality .

They just joining the hype without knowing the project he invested in and when the price falling they just talking shit about their own decision.

then they deserve to lose and cry mate because they are foolish enough to invest in something that you don't even know.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

invest what can you afford to lose and also invest with deepest knowledge .

[CaptainCrapper]

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 should be added to all your exchanges

All of the points is a very important part of every investors and trader. for that reason, we should be following the rules or tips every body can get better benefit.

[angrynerd88]

Appreciated,Its helpful for all specially for new comers.Further i add here that dont believe in rumors just believe in personal research and dont stop the learning process.Try to learn new things having trend in the market and learn about upcoming projects.Avoid to repeat past mistakes and diversify the investment in worthy coins,Dont be hurry to sell early til get expected results.

[harapan]

Follow these 5 points to avoid mistakes while investing in cryptocurrency:  
                                                                                                                                                                                                                              
1. Buy crypto coin in Bearish market
2. Avoid Panic sell
3. Avoid Panic buy
4. Use trusted exchange platform
5. Don't share your password anywhere

Buying during bearish market is a good strategy for investment, but it still doesn't guarantee profit cause I know a few coins in 2017 that didn't pump during this bull run, but it's still a good strategy anyway, as for using trusted exchanges well just about any exchange can get hacked anytime, in order to be on the safe side never leave your huge bags(coins) on your exchange wallet, they might get hacked anytime and the exchange might not be able to pay every user, storing coins on any third party platform is a bad idea.

[william_mathews]

You’ve missed a few other essential things. This advice is not only for newbie traders but for professionals too.

R-R ratio - It is the standard measure used to compare the potential gains to the potential losses. The risk-reward ratio states that you should risk only the amount you can afford to lose. For example: If you have a risk-reward ratio of 1:3, it means you’re risking $10 to make $30.

Patience - ‘He who masters the art of patience becomes successful.’ Once you have set foot in the crypto world, your patience will be tested to unimaginable extents. So when the market isn’t in your favor, remain calm and think about what to do next.

Protect your money - When you create a crypto wallet, you’ll get a set of unique public & private keys. The public key is the address of your wallet, and the private key is the password you need to access your wallet. So do not disclose your private keys to anyone.

[SacriFries11]

1. Do not invest first if you are not knowledgeable in the technology of the cryptocurrency you are buying.
2. If a new investor immediately believes the hype of those supported by celebrities.
3. If they hear bad news, they are panic selling.
4. If all the money is in just one investment, it should be divided.
5. No strategic planning.

[aditasetia123]

Most of my friend who loss in this crypto crying because they don't know what they invested in.

They just joining the hype without knowing the project he invested in and when the price falling they just talking shit about their own decision.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

Lack of cryptocurrency knowledge make us suffered huge loss, speculation be main reason why they couragely invest their money into this market even they didn't know what actually it is. And the important point is , they didn't ready to face loss and accept the fact

[chanler]

I have read a lot and here and it adds to my insight, all that being said can be a great lesson for beginners like me. It would be good if it was followed by will and thoroughness as well because all of that also requires a process. It takes effort to get what you want. Investing in crypto will be profitable if investors understand the crypto world and have a strong mentality. Investing in crypto is not just saving and buying coins but requires proper analysis in order to produce results. Make mistakes that occur as learning and don't get stuck easily with the results that obtained. If can get more then that's better.

[Theones]

Most of my friend who loss in this crypto crying because they don't know what they invested in.

They just joining the hype without knowing the project he invested in and when the price falling they just talking shit about their own decision.

But the important thing is, just spend money in crypto when you afford to lose it because crypto is totally diferrent with any other investment (Stock or etc).

Lack of cryptocurrency knowledge make us suffered huge loss, speculation be main reason why they couragely invest their money into this market even they didn't know what actually it is. And the important point is , they didn't ready to face loss and accept the fact

If a bull run starts in the cryptocurrency market (basically every financial / investment market), it is mainly because are investing people who don't know what they are doing, and the only reason they are investing is greed and that they can see that the chart is growing right now.
That is why it is said that you should sell when the hairdresser and taxi driver persuade you to invest - they are simply the people who do not know what they are doing and it is a signal that the bubble will end soon.