Share your costly lesson about cryptocurrency..

[decodx]

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I came in here in 2016 and really earned a worth of 0.2 BTC but yes I used them for my expenses then and there and seeing this year's ATH I really thought, what if held the BTC earned. Like wise, I had around 500 BNB, 100K Matic and really sold them at very cheap rates in 2018 but yes for profits. But I learnt later that I should hold long, invest in long term and never sell them off in panic. Now started to accumulate few best coins. The journey brought me confidence in Bitcoin and Crypto currencies.

We all have the same story when it comes to crypto. As we never think that Bitcoin will even reach $70,000 faster that is why we spend them earlier or even sell them as we are about to think that "what if one day Bitcoin will dump and turn to $0"? We have had that mindset before as we listen to many experts saying it "collapse" but it was very fortunate to see Bitcoin keep on the rally and speedy growing despite the negative thoughts we've heard around.

Yes. The most expensive part of your investment is certainly when you buy it and believe in it. Since you believe in it you will definitely keep on making more money from the price up. This makes the asset more difficult to sell, which I believe makes it all the more profitable to the long term investors. If you are an investor who doesn't believe in Bitcoin or any other crypto asset for that matter, then maybe it is time to think twice.

[Dunamisx]

I invested some times back thinking all investment must make profit not minding the current rate, though I was in serious need then and i have to just sell off not minding if the selling rate is less, upto or more than the amount invested and at the end when the guy that help me sells off I was thrown in surprised that how could the money be this little.

Later he took some time in explaining to me how the operations goes when running on a bull or bear and it took me some time to really grab the scenario then and i further myself to learning online in carrying out research.

My lesson:
Selling at an inappropriate time.

[wtsimis]

After reading all comments, now I'm thinking that my losses are very small competitively with these losses. However, I lost my base holdings for investing the money into shit gameverse tokens. Last year, I withdraw all my holdings and put them into wax blockchain's two shit games. If I hold the withdrawn money, now I could a millionaire with respect to BDT. I'll regret my whole life remembering this mistake. IT would change my life.
However, It made me stronger to take decisions before investing any coin or withdrawing any holding

[Odusko]

As the title says, please share your costly lesson about cryptocurrency. So others users could take a lesson from your story and they would get the advantage of it without losing anything.

When we learn a lesson, most of the time we lose something. And there are a few losing stories where we lost a lot and that's the reason why I consider this kind of lesson ad a costly lesson. I had shared previously my story, I will just remind it shortly.

In 2017 I had almost 1.5BTC and I hadn't sold even Bitcoin was around $19K above. So we know the Bitcoin dump story. Since Bitcoin was dumped too much I wondered to increase portfolio by trading or holding alts. So I just choose a few shitcoin. Some of them were delisted from the exchange, so I moved all-in single shitcoin. Sadly that's shitcoin is totally useless. Perhaps it's worth $1K in the current market. So it was a costly lesson for me. Don't choose a shitcoin for investing purposes. Just invest in Bitcoin and hold it. You will never regret it at all.

What is your costly lesson?

Wow,have learnt one or two lessons from this discussion ,I will not  make mistake of trading any coin that is not standard,if I must trade I will go with bitcoin,with bitcoin even thou the price is reduced you won't loose all your investment.

[Imran232]

......................

My costly lesson was 174233 dogecoin. Yes, I had 174233 Dogecoins in my wallet in early 2018, though this amount of coins had little value at the time. But that was my beggining time into cryptocurrency, and I had fallen victim to gambling. I didn't know much more about youtube channels and I didn't know much more about crypto. I just thought about the value of the dollar. Watching some YouTube videos means some gambling videos have started to play with Dogecoin. I started with 100k dogecoin. Then, after some wins, my dogecoin amount becomes 174233. And when things happen, greed takes over. And because of greed, I lost all of my dogecoin in one day. What I made in 20–25 days Though, at the time, I didn't feel particularly sad because money didn't have a high value. But after Dogecoin reached $0.7 each in 2021, I realised how much money I had lost in my life. Though, after losing all of my doge in 2018, I completely stopped gambling, which may be safer for my larger sums of money. if I had all of my doge today, I would be a multi-millionaire today in our village and as a student in our native currency. I think this is the most costly mistake in my life.

[satscraper]

My ignorance of course produced that costly lesson which came from the cloud mining back in 2019. They  have shown me the bare figures of profit  purport to be made by me and disappeared at the end. My total loss was around one and half BTC. Since then I don't take cloud mining seriously.

[Scripture]

Reading some of the comments here, looks like I have my small costly lesson compared to others but of course we all have different stories to tell.
Anyway, I have my costly mistake last year where I invested on many NFT games, and turned out into a scam, three projects almost took out all my savings these mistakes hopefully serve as a lesson to me because I can't afford to fall on many fake projects this year. Now, I'm trying my best to rise again and take every steps slowly but surely. I may not have huge losses but for me, that's enough for me not to be more greedy. Cryptocurrency offers a lot of opportunity but with greed, you can lose everything.

[Dripstoil]

Another costly mistake I'm making right now is  continuously ignoring BNB token while it keeps rising and rising. From the way I'm looking at it, BNB will hit $20,000 sooner than later.

I see more opportunity with the Binance token more than in Ethereum. If I have my way, I'd put $100,000 in it and let it sit for a long time.

According to StormGain.com in its article of Nov 19, 2021, it wrote that the long Forecast's outlook is conservatively optimistic. They predict that the price of BNB will rise to $499 by the end of the year. In 2022, their forecast predicts that the price will continue to rise and peak at $1,073. BNB will continue to grow, and by the end of 2023, the price will reach $1,197.

[Sandra_hakeem]

I cried and I keep crying  my whole life as I was too much in a hurry to sell bitcoin that I sold it when it was as low as $6k.
I had a severe surgical  operation  that needed  some funds so I had to scale out the ones I HODL and I never had the privilege  to get one for myself  anymore  until now. It's so painful  and I kept wishing I never had that kinda problematic situation on me everyday that passes by makes me feel deep remorse  about  everything I did back then but I couldn't  help the situation  because this was a matter  or life and dead.
Yeah, way back sometime ago, people  never thought bitcoin could  get to a level  like this and so they refuse  to invest much or sometimes nothing! I remember  when I told my dad that I needed  to HODL some coins for myself  and he kept  promising, not as though  he never had some cash but never wanted to be a part of the whole thing. I went a long way by phishing  in my fees from college  to get some coins and paid off but my impatience is what I'm remorsing  about... My dad didn't  have immediately  aids for me so I had to give it away 
Sandra_

[Pik2]

I sold my 5 bitcoins at $1000 and haven't bought in until today. This was a huge blunder.

[ANSEL_2.0]

I took the biggest risk on a meme coin in October 2021 with all the money I have at the time and I got lucky, I made 10x but I was never satisfied I wanted more before I sell them I watched the 10x shrinked back to 1x before I woke up, left in shame with my 1x, a painful lesson that I will never forget.

[BITCOIN4X]

~Snip

Of course your experience will never be the most pleasant thing to remember for a lifetime in investing lessons.
You know, I bought 45 ETH one night when it was around $80 in late 2018 and sold it in January 2019 for about $140. At that time I thought the price of ETH was high enough to take profit, but unfortunately I had to accept the fate that in June it was already above $360. At that time I only managed to make around $2.7K profit in ETH but I regret if I am patient then I might be able to get bigger returns in November 2021. But that is just a thing of the past that I will never remember again.

Now I think we just need to consider every opportunity to invest in a coin that really promises future potential, this will be the first step to getting good returns in the future. There is no better lesson from my experience than being patient and believing in the potential return on investment.

[kawetsriyanto]

I spent around $2500 to buy some new coins with low market caps last year. I got the idea to buy those coins from my friend who I think is professional enough in crypto investment. I believe him because I hear his sweet history about gaining huge profits from buying new coins. He showed me that he has a good ability in analyzing the potential of new coins. And he said to me to hold until the end of the year. But after holding a few months, sadly those coins decreased their values significantly because Bitcoin dropped its price. My friend told me that the price will increase again, don't worry! In reality, the prices of those coins continue to decrease and never increase again. Even in December 2021, the prices couldn't increase as expected and I got losses of more than $2000. So, what does the lesson get from this short story? Always believe in your own analysis and set a realistic target, don't rely on a certain month to sell your coins. Also, if you are not really an expert in investing new coins, better to choose those coins with high market caps.

[Igebotz]

In 2017 I had almost 1.5BTC and I hadn't sold even Bitcoin was around $19K above. So we know the Bitcoin dump story. Since Bitcoin was dumped too much I wondered to increase portfolio by trading or holding alts.
~snip~
What is your costly lesson?

My bitcoin journey began in early 2016, when I first encountered Bitcoin at a price of $600-$700. To cut a long story short, I purchased 0.05 Bitcoin at the time, invested it in a Russian Ponzi scheme MMM, and made a few profits before raising it to 0.1 Bitcoin ( the highest Bitcoin I ever had) I was doing okay with MMM, getting 30% after 15 days, until I saw another Ponzi scheme offering 100% returns in 10 days. I immediately withdrew my coins from MMM and invested in the other Ponzi scheme, which increased the bitcoin to 0.4 after a few weeks, but I couldn't withdraw until the site went offline. My 0.1 bitcoin was stolen.

I returned in 2017 after learning about trading from a colleague, bought another bitcoin (I don't remember how much it cost at the time, but it was around $1k at the time), signed up on HITBTC, bought a few coins, and they all went down like a collapsed building seconds later, I left it thinking they would gain value one day, but all I get is a daily delisting message from HITBTC in my mail, and the four shitcoins were delisted.

[nurilham]

Personally, there are many lessons that I took after getting to know cryptocurrencies where I got a failure at that time one of them was in trading. I was in too much of a hurry and panicked so I made a big mistake where I did a panic sell and it made me get a lot of losses. Not only that, I also have high expectations for crypto prices several times so that it misses the moment when the price is good. I now realize that trading or investing with emotions will only confuse our minds and make us less careful in our actions.

[Marykeller]

Mistakes are certain to happen in peoples lives. There are horrible mistakes that you can't forget in a hurry, that you'll be able to learn from them.

It happens that I entered the private keys of my wallet into a friend's phone because I lost my phone to armed robbers. My main reason for that move is to check whether my coins are still intact. The funniest of it all is that she was there watching me when I was activating my password in her trust wallet app. After all, is said and done. In months later I get to find out that some of my altcoins have been removed

[Agbe]

As the title says, please share your costly lesson about cryptocurrency. So others users could take a lesson from your story and they would get the advantage of it without losing anything.

When we learn a lesson, most of the time we lose something. And there are a few losing stories where we lost a lot and that's the reason why I consider this kind of lesson ad a costly lesson. I had shared previously my story, I will just remind it shortly.

In 2017 I had almost 1.5BTC and I hadn't sold even Bitcoin was around $19K above. So we know the Bitcoin dump story. Since Bitcoin was dumped too much I wondered to increase portfolio by trading or holding alts. So I just choose a few shitcoin. Some of them were delisted from the exchange, so I moved all-in single shitcoin. Sadly that's shitcoin is totally useless. Perhaps it's worth $1K in the current market. So it was a costly lesson for me. Don't choose a shitcoin for investing purposes. Just invest in Bitcoin and hold it. You will never regret it at all.

What is your costly lesson?

Crypto currency lessons like a punishment in my life. I would work hard to have money but Crypto-Currency scammers would come and collect it..the worst they used different means. Websites, apps, and the social media.

[amishmanish]

Another costly mistake I'm making right now is  continuously ignoring BNB token while it keeps rising and rising. From the way I'm looking at it, BNB will hit $20,000 sooner than later.

I see more opportunity with the Binance token more than in Ethereum. If I have my way, I'd put $100,000 in it and let it sit for a long time.

According to StormGain.com in its article of Nov 19, 2021, it wrote that the long Forecast's outlook is conservatively optimistic. They predict that the price of BNB will rise to $499 by the end of the year. In 2022, their forecast predicts that the price will continue to rise and peak at $1,073. BNB will continue to grow, and by the end of 2023, the price will reach $1,197.

Are you so bullish on BNB due to what the website says or you have your own conviction. The two are a different thing. BNB is a pretty centralizes. and hence fast, chain which has the blessings of none other than CZ. Yet, the problem with it is that mostly only scams and rugs have happened on BNB.

Considering the OP question, this is a very humbling thread. My losses in cryptocurrency have not been because i sold too early but because i never actually sold to Fiat but instead to Ethereum based tokens hoping they would go up and be worth something. I have never gotten to having a whole Bitcoin too.

Another of my losses have been that i missed out on getting into Chipmixer right before crypto took off. I had other engagements in life and some personal issues due to which I couldn't give so much time to the forum. I am pretty confident that had I continued my run of interactions from 2018-19, I would have been one of those CM participants. But well, that never materialized but I am happy to be part of the next best thing, BestChange.

Apart from this, the number of random airdrops etc that I have missed due to "almost" doing the thing would amount to at least a few 100K dollars. It does make me sad and anxious at times considering how much I missed out despite being here. But well, I am okay with the fact that I got to interact and learn. Having the wonder and awe and being curious about the whole space was an experience in itself.

[Dillonhebist]

my mistakes in cryptocurrency is greediness, hoping that I could make money without any effort, stress on  research and also quick money, my mind is to invest and reap returns, a part of me knew all along that this offer isn't real but the 'greedy part' wouldn't let me have a second thought on it, i really learn my  lesson the hard way, but the good thing is that I learnt my  lessons, and i have been working with it. therefore their is no easy way in making money, all you need to do is to follow the right way to Success.

[Yamifoud]

I can't remember the exact date but that was 2016 when I was new in crypto and I admit I have no deep knowledge about trading.
I spend $1000 as my trading capital and I use it to buy cheap coins as I think that I can double/triple my funds once it pumps just like what I saw to other coins. I get millions of shitcoins that time, I hold it until today but to guess what, I was just holding for nothing and not even seeing my coins listed to other exchanges aside in Etherdelta where I bought it there. Now that Etherdelta is not active anymore, I certainly don't have any chance to sell them. I'd lost them all because of being greedy and this kind of behavior must have to change.