8 Mistake People Make When Investing In Crypto

[Radja Rimba]

Op, I want to let you understand that there is no rigid rule about plagiarism. I always tell other members of this forum that there is no rigid rule here. This is a forum of liberty just like Bitcoin.

Can you tell me how many rules do you think are not rigid out of the 33 rules listed here? I don't want you to underestimate the rules because I believe plagiarism will be banned on this forum without even needing a warning. It's great if the OP gets a warning and fixes the error, but what if no one else is willing to warn him and just report his plagiarism to a moderator to get banned?

[SatoPrincess]

Op, I want to let you understand that there is no rigid rule about plagiarism. I always tell other members of this forum that there is no rigid rule here. This is a forum of liberty just like Bitcoin.

Can you tell me how many rules do you think are not rigid out of the 33 rules listed here??

I think you misunderstood what uchegod is saying. Plagiarism is plagiarism be it a single line copied or a wall of text without reference, the punishment is the same. It’s true that the rules for plagiarism is different for each person and are handled case by case. It’s believed from this thread that moderators are becoming lenient than before to newbies committing plagiarism.

[Gozie51]

8.  Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

[Yamifoud]

8.  Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

But I don't have a problem with that, putting my money solely to Bitcoin is not wrong because I was sure that my money is safe and certainly it grows rather than splitting it into several altcoins. Well, of course, it was the best option to pick some potential altcoins aside from Bitcoin as it was the most practices here.

Generally, it is all about fund management. Even having multiple assets cannot give us assurance and the future of our investment certainly lies on how we manage them.

[Mpamaegbu]

3, 6, and 7 were just me during my noob days. This day, I know better. I suspect that those too may be common with every newbie especially that of buying a crypto because it's cheap. That dealt heavily with me. When I look back now, I smile at my ignorance. I used to think then that every crypto was going to soar like Bitcoin was doing then. That was in 2017 and Bitcoin was having a good time. I felt it was also the right of others to enjoy the same massive run of Bitcoin. How dead wrong I was. I paid for that experience.

[Ziskinberg]

3, 6, and 7 were just me during my noob days. This day, I know better. I suspect that those too may be common with every newbie especially that of buying a crypto because it's cheap. That dealt heavily with me. When I look back now, I smile at my ignorance. I used to think then that every crypto was going to soar like Bitcoin was doing then. That was in 2017 and Bitcoin was having a good time. I felt it was also the right of others to enjoy the same massive run of Bitcoin. How dead wrong I was. I paid for that experience.

Too often to realize what we have done before after losing some money and even see how these newbies are doing now. We can really picture what we are doing before during our early days in crypto while we still don't have knowledge and experience, and this is quite the same for the newcomer's journey.

And it was very fortunate that despite those hard days that we have in crypto we still have the courage to continue and believe ourselves to make things right. Can't certainly be perfect, but we are trying our best to make it perfect, right? That is why we care to listen to other's advice and correct our mistakes.

[Alisha-k]

To survive as a crypto trader it's either you are reading and doing your research or the market reads you and take away your funds. If an investor chooses to hold on to just a single coin that shouldn't be a problem so far they are ready to study to know the next market direction it will likely take. Crypto is a world of research altogether it's either the trader outsmarts the market of it pays the market for it's ignorance.

[Viscore]

Every thing listed as mistake narrows down to making quality research before making any investment decision. Shit coin investment is ponzi in disguise, If it must be included in a traders portfolio then knowing when to withdraw is part of the investment plan same with Bitcoin. for non researchers its best to Hold on to Bitcoin and if diversifying portfolio should be considered then real estate, metals is best.

These mistakes are done because they lack the knowledge, experience and skills which will eventually lead to success. However, for newbies, you cannot expect for them not to get mistakes and losses because they are still exploring the market while investing. But these mistakes will eventually impact them some valuable lessons that will make them knowledgeable and become wise in their decisions. Everyone here started from a scratch, before they succeeded in their crypto investments.

[Lida93]

I want to talk on your number 8 mistake you mentioned. For me I see no mistake whatsoever in investing in just one particular crypto especially when you have a great awareness of such crypto instead of diving into Jack of all trades and master of none kind of thing.

Cause it's empirically possible you can invest into three different cryto and still end up lossing, either serially or simultaneously.

[Charles-Tim]

I want to talk on your number 8 mistake you mentioned. For me I see no mistake whatsoever in investing in just one particular crypto especially when you have a great awareness of such crypto instead of diving into Jack of all trades and master of none kind of thing.

Cause it's empirically possible you can invest into three different cryto and still end up lossing, either serially or simultaneously.

If it is bitcoin you are investing on, I see no reason of going for other coins, but if it is altcoins you want to invest on, some altcoins may rise in value and price while some may remain stagnant and not rise during bull run. It can be unfortunate that someone can invest on a single altcoin and the altcoin did not rise in bull market or it may not rise to the extent it supposed to rise which can be very frustrating and disappointing. That is the reason people advice people to invest in more than one altcoins. But for bitcoin investment, you will definitely make profit.

[Dunamisx]

I think to an extent mistakes are inevitable because no one is perfect but out of our imperfection shouldn't come a stupidity, just as OP was trying to address some mistakes done when dealing with cryptocurrency and unknowingly making a mistake as well that goes against the forum rule, but he quickly realized his wrong and amend it, imagine if we cannot give credit referencing the author of an article, how can we then confide trust on other aspect or areas we talked, post or comment about to be true and genuine, this is also a lesson to us all to be transparent in whatsoever thing we do and give honour to whom it is due.

[Gosgosking]

Diversity is very important in cryptocurrency, not putting all investment in one coin. When taking decisions to diversify cryptocurrency investment it does mean one should all his new investment buying coins that are not reliable. Investment must be with coin that has good qualities and market value.

[Mask00]

Seriously!!
Thank For Sharing This Information. Its To Helpful for Investor.
Personally For Me

[xSkylarx]

CONCLUSION

In conclusion, there is no short cut to success in crypto investment, that’s why I will advise anybody who wishes to invest in crypto to first achieve the very basic knowledge, so that you don’t regret with the loss of your funds.

They should also learn how to control properly their emotion in different market situations. One of the mistake of some traders/investors is they let their emotion control them resulting for some impulsive decision that should not be made. If there is a fud that shakes the market, they quickly sell their crypto out of fear. If market is going parabolic, they get greedy and set unrealistic targets until that crypto dumps and they miss the chance to gain profit.

[Marvell1]

8.  Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

My understanding of portfolio diversification is that we will invest in many different areas, not in many different coins. It won't be true if you invest in shitcoins without investing in bitcoins, or if you just invest in bitcoins and don't need a lot of shitcoins. Crypto market is not like other markets, everything here is dominated by bitcoin, if bitcoin goes down then no coin can go up or vice versa. Diversifying crypto investments isn't bad, but it doesn't make much of a difference.

[Cookdata]

There are always lessons to learn in crypto because people who want to make quick money always make mistakes and we continue to learn from them, even as a bitcoin Maxis, you will sometimes make mistakes that you may not realise on time but they make us even stronger and wiser in making future decisions.

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I have just gone through the website you are shilling, nice way of including a promotional website into a nice discussion, the website is having good faces of the team, and they have the potential of making good sales in their shit coin, what I was so interested in was the part they said they are partners of Binance. Nice one comrade! 

[m2017]

8.  Investing in Just One Type of Crypto

I agree with this point too. This goes against the rule of diversification because diversification is to put money in different aspect of business so that incase one is failing and the other or next might succeed and you gain or recover from the loss of the losing one. If you invest in just one type of coin with alot of money, it is not a good investment. It is better to put money in different coins like throwing your net in the river you never know the fish it will catch for you.

Diversification brings not only the opportunity to "catch a bigger fish", but also to squander one's resources on a "fishless river". It seems to me, Investing in Just One Type of Crypto, not such a bad idea if this crypto is bitcoin. Spreading your money across other altcoins not only increases the chance of losing it, but it also reduces the return on investment in the bitcoin because there is less money left to spend on it. The pursuit of "very big fish" may be fruitless and it is better to be content with the "medium fish". All the same, at least some "catch is better without a catch at all". Pardon the "fish" metaphor.

[ScamViruS]

Diversity is very important in cryptocurrency, not putting all investment in one coin. When taking decisions to diversify cryptocurrency investment it does mean one should all his new investment buying coins that are not reliable. Investment must be with coin that has good qualities and market value.

There is a need to do enough research before making any investment. It is important not only to invest in different coins by sharing funds, but also to see what the market situation is and where the market trend is. Most new investors do not follow what you say. As a result, they face huge losses. This is a perfect example of what happened in the crypto market in recent times with luna coin, why you should not invest all your money in one coin.

[Munir575]

4.  Not having a plan
How much risk are you willing to accept, How much money do you want to make, When do you plan to take your first profit or cash out completely, and Is the investment short or long term e.t.c.
Because these questions could go a long way and are very important question one need to answer before proceeding a crypto investment, as this serves as a foot print for an immediate action.
So, its always good to plan in all we do and crypto is no exception, as that gives us a clue on what to do next.

https://medium.com/coinmonks/top-7-mistakes-people-make-when-investing-in-crypto-24a4ade5056

The forum kicks against Plagiarism and we should not fall victim and be caught in the act, i see you've done the needful. You did a very good job with the post though, alot of people make these mistakes when investing in cryptocurrency especially newbies i just hope they can learn from this.

[lalabotax]

8 MISTAKES PEOPLE MAKE WHEN INVESTING IN CRYPTO

1.   Buying high and selling low
DETAILS…

This is exactly. Buying high and selling low commonly happens because someone is facing or experiencing a panic situation. The reasons may be because of the FUD or market correction of the price itself. That is why people will panic automatically and sell their coins directly because of the panic situation. This may not happen if we can control ourself to be calmer to face the day.

7.   Following the Current Crypto Hype

This is also another reason why especially newbies can lose their money so easily because they only follow the crypto hype without any analysis at first. We know that crypto hype is very interesting and makes most newbies desire to invest in that hype.