Common mistakes in Bitcoin Investment.

[I_Anime]

The last point you made is a common mistake that a lot of people make in Bitcoin investment and this slows down their progress. They don't have their capital separate from the what they are supposed to use to sort out their bills that's the reason why they end up selling their coins after a short period of time after investing. Always Make sure that your emergency funds and money for bills are separate from your capital.

That’s where many investors are getting it all wrong . When come to allocating your earning you have to be good in planning , that’s why most good investors are good planners and they are good when come to adapting, first break your earnings using percentages, most time your expenses usually take the highest percentage, while the remaining percentage left (which will be your discretionary income), then later break it down to three places which are your emergency funds, your reserves funds and your funds for investing .

[PremiumcryptoHub]

Investing with emotions

Investing with the wrong funds

I like to pick on this two as it's mostly what newbies are culpable of in this space when they newly jump in. They let their emotions dictate how and what they are investing in in terms of the funds size and the coin to invest on.  Rather than basing their decision on knowledge they follow trends and hypes which are but for a temporary time before it fails them and leave them with nothing but losses.

Newbie must learn to invest base on knowledge, because knowledge erases fear and emotions.  Also, t must have to be with the right funds because the wrong funds creates anxiety and impatient especially since it's not what they can afford to lose. I think that's just the right way to describe a wrong funds into investment.

Logic should be what drives bitcoin investment and not emotions, once emotions become what anchors a person's investment than they are not likely to be able to keep investing for long, emotions can change very quickly leading to a loss of interest, there is also the situation of the price dipping and fear creeping in because there was no solid foundation for their investment, not keeping their emotions in check can lead to selling too early because of an increase in the price of bitcoin for them to collect their profits quickly or to sell due to a decrease in price because the want to cut their losses.

You are right that Bitcoin investment should be driven by logic, not emotion. For some investors, it is a reality that they invest emotionally and invest in the wrong funds, and emotions change quickly, which reduces their interest in Bitcoin investment, and it is also true that fear enters their minds because there is no solid basis for investment. At this point, it can be said that investors in our country should do light research on investments and be aware of their own patience and emotional limits, so I think any method will be effective for those who have continuity and long-term plans in their investments.

In the case of Bitcoin, we know that its price movement is inevitably volatile. Volatility is inevitable in the case of Bitcoin and we need to be financially and mentally prepared for it. Continuing to buy Bitcoin is probably a good decision because we do not know whether Bitcoin's volatility will increase or decrease in the short term. Based on the strong monetary policy inherent in Bitcoin, its upward trend will continue and there is no guarantee that this will happen. Therefore, we determine the amount of our investment according to how much loss we can afford.

Bitcoin is inherently volatile, so I think investing in this electronic currency should be done with logic rather than emotion. You are right that it is probably a good idea to continue buying Bitcoin in any market situation because it is not clear whether Bitcoin’s volatility will increase or decrease in the short term. I think everyone is hoping and planning to achieve financial freedom through long-term Bitcoin investment, so at this point it is safe to say that every Nigerian investor should be patient and aware of wallet security if they are to invest in the long term.

[Umulala-alala]

Investing with emotions

Investing with the wrong funds

I like to pick on this two as it's mostly what newbies are culpable of in this space when they newly jump in. They let their emotions dictate how and what they are investing in in terms of the funds size and the coin to invest on.  Rather than basing their decision on knowledge they follow trends and hypes which are but for a temporary time before it fails them and leave them with nothing but losses.

Newbie must learn to invest base on knowledge, because knowledge erases fear and emotions.  Also, t must have to be with the right funds because the wrong funds creates anxiety and impatient especially since it's not what they can afford to lose. I think that's just the right way to describe a wrong funds into investment.

Logic should be what drives bitcoin investment and not emotions, once emotions become what anchors a person's investment than they are not likely to be able to keep investing for long, emotions can change very quickly leading to a loss of interest, there is also the situation of the price dipping and fear creeping in because there was no solid foundation for their investment, not keeping their emotions in check can lead to selling too early because of an increase in the price of bitcoin for them to collect their profits quickly or to sell due to a decrease in price because the want to cut their losses.

You are right that Bitcoin investment should be driven by logic, not emotion. For some investors, it is a reality that they invest emotionally and invest in the wrong funds, and emotions change quickly, which reduces their interest in Bitcoin investment, and it is also true that fear enters their minds because there is no solid basis for investment. At this point, it can be said that investors in our country should do light research on investments and be aware of their own patience and emotional limits, so I think any method will be effective for those who have continuity and long-term plans in their investments.

In the case of Bitcoin, we know that its price movement is inevitably volatile. Volatility is inevitable in the case of Bitcoin and we need to be financially and mentally prepared for it. Continuing to buy Bitcoin is probably a good decision because we do not know whether Bitcoin's volatility will increase or decrease in the short term. Based on the strong monetary policy inherent in Bitcoin, its upward trend will continue and there is no guarantee that this will happen. Therefore, we determine the amount of our investment according to how much loss we can afford.

Bitcoin is inherently volatile, so I think investing in this electronic currency should be done with logic rather than emotion. You are right that it is probably a good idea to continue buying Bitcoin in any market situation because it is not clear whether Bitcoin’s volatility will increase or decrease in the short term. I think everyone is hoping and planning to achieve financial freedom through long-term Bitcoin investment, so at this point it is safe to say that every Nigerian investor should be patient and aware of wallet security if they are to invest in the long term.

Investing in bitcoin for a long time required an investor to have some good source of income so that there can be availabilities of discretionary income to consistently use in buying or investing in BTC, buying bitcoin at any market condition is using the dca strategy to be buying BTC from your discretionary income also you can be saving for emergency funds because with out having your emergency funds you may not be hold your bitcoin investment for a long time so having a good streams of income is one principle in holding bitcoin for long time.

[Fiasem20]

Investing with emotions

Investing with the wrong funds

I like to pick on this two as it's mostly what newbies are culpable of in this space when they newly jump in. They let their emotions dictate how and what they are investing in in terms of the funds size and the coin to invest on.  Rather than basing their decision on knowledge they follow trends and hypes which are but for a temporary time before it fails them and leave them with nothing but losses.

Newbie must learn to invest base on knowledge, because knowledge erases fear and emotions.  Also, t must have to be with the right funds because the wrong funds creates anxiety and impatient especially since it's not what they can afford to lose. I think that's just the right way to describe a wrong funds into investment.

Logic should be what drives bitcoin investment and not emotions, once emotions become what anchors a person's investment than they are not likely to be able to keep investing for long, emotions can change very quickly leading to a loss of interest, there is also the situation of the price dipping and fear creeping in because there was no solid foundation for their investment, not keeping their emotions in check can lead to selling too early because of an increase in the price of bitcoin for them to collect their profits quickly or to sell due to a decrease in price because the want to cut their losses.

You are right that Bitcoin investment should be driven by logic, not emotion. For some investors, it is a reality that they invest emotionally and invest in the wrong funds, and emotions change quickly, which reduces their interest in Bitcoin investment, and it is also true that fear enters their minds because there is no solid basis for investment. At this point, it can be said that investors in our country should do light research on investments and be aware of their own patience and emotional limits, so I think any method will be effective for those who have continuity and long-term plans in their investments.

In the case of Bitcoin, we know that its price movement is inevitably volatile. Volatility is inevitable in the case of Bitcoin and we need to be financially and mentally prepared for it. Continuing to buy Bitcoin is probably a good decision because we do not know whether Bitcoin's volatility will increase or decrease in the short term. Based on the strong monetary policy inherent in Bitcoin, its upward trend will continue and there is no guarantee that this will happen. Therefore, we determine the amount of our investment according to how much loss we can afford.

Bitcoin is inherently volatile, so I think investing in this electronic currency should be done with logic rather than emotion. You are right that it is probably a good idea to continue buying Bitcoin in any market situation because it is not clear whether Bitcoin’s volatility will increase or decrease in the short term. I think everyone is hoping and planning to achieve financial freedom through long-term Bitcoin investment, so at this point it is safe to say that every Nigerian investor should be patient and aware of wallet security if they are to invest in the long term.

Investing in bitcoin for a long time required an investor to have some good source of income so that there can be availabilities of discretionary income to consistently use in buying or investing in BTC, buying bitcoin at any market condition is using the dca strategy to be buying BTC from your discretionary income also you can be saving for emergency funds because with out having your emergency funds you may not be hold your bitcoin investment for a long time so having a good streams of income is one principle in holding bitcoin for long time.

Na the koko be that na,you gats get source of income before you start to invest in bitcoin,because na through your discretionary income you fit dey accumulate bitcoin consistently with any accumulation strategy but the most preferred strategy wey many investors don adopt and dem prove am to be the best na DCA strategy.You no go fit just buy bitcoin once then make you just leave am for the wallet make e dey appreciate normally e go appreciate if the price skyrocket oh but e no reach that person own wey don Dey build ehn portfolio through consistent buying of bitcoin.Normally these days inflation wan mess our economy,so e go good make person put ehn money for digital currency wey na edge against inflation and bitcoin na the best option to that.

[Cossyblack]

Wrong advice and lack of personal information is the reason why some investors make quick decisions in their investments if not you can't imagine someone who will involve into what he can't handle not even some thing that involves putting a little of moeny thdt you are not sure of recovering immediately. Upcoming investors should attend financial education and they should be able to know how to make proper investigation before investing in any business, in crypto you don't let what people say fuel your mind to the point of putting your money into what you can not bear tht is why you are advised to go for proper research before investing in any business to avoid losing money.

newbies who are investing in bitcoin need to know what financial education is all about, I think this is important so that they can be able to manage their income properly and figure how much discretionary income they need to invest in bitcoin. Some newbie investor just can't figure out their discretionary income and this is a problem because if they can't figure out discretionary income they won't be able to invest in bitcoin. Furthermore, People who are quick to sell their bitcoin investment might be traders or that they heard some negative things about bitcoin which is why a newbie or veteran investor should only invest using their discretionary income so that if the price of bitcoin isn't moving as their plan they will not sell our of emotions.

[Adams0001]

newbies who are investing in bitcoin need to know what financial education is all about, I think this is important so that they can be able to manage their income properly and figure how much discretionary income they need to invest in bitcoin. Some newbie investor just can't figure out their discretionary income and this is a problem because if they can't figure out discretionary income they won't be able to invest in bitcoin. Furthermore, People who are quick to sell their bitcoin investment might be traders or that they heard some negative things about bitcoin which is why a newbie or veteran investor should only invest using their discretionary income so that if the price of bitcoin isn't moving as their plan they will not sell our of emotions.

As a businessman or investors they really need to understand how the financial education works so that they won’t be falling and don’t know how to manage there funds probably. Newbies need to learn before starting investment in bitcoin so that they won’t fall apart when the market is not going well as they plan, what I understand with some people are just investing without budgeting they all just invest to get fast money and they used some money that they doesn’t support to invest. Bitcoin is easy to invest but many people are not patient to wait for there time to get benefits.

[Crytohillss]

newbies who are investing in bitcoin need to know what financial education is all about, I think this is important so that they can be able to manage their income properly and figure how much discretionary income they need to invest in bitcoin. Some newbie investor just can't figure out their discretionary income and this is a problem because if they can't figure out discretionary income they won't be able to invest in bitcoin. Furthermore, People who are quick to sell their bitcoin investment might be traders or that they heard some negative things about bitcoin which is why a newbie or veteran investor should only invest using their discretionary income so that if the price of bitcoin isn't moving as their plan they will not sell our of emotions.

As a businessman or investors they really need to understand how the financial education works so that they won’t be falling and don’t know how to manage there funds probably. Newbies need to learn before starting investment in bitcoin so that they won’t fall apart when the market is not going well as they plan, what I understand with some people are just investing without budgeting they all just invest to get fast money and they used some money that they doesn’t support to invest. Bitcoin is easy to invest but many people are not patient to wait for there time to get benefits.

Absolutely, financial education is just as important as the investment itself some many people rush into Bitcoin expecting quick gains without understanding the risks or having a proper plan, investing with monet one can't afford to lose usually leads to poor decisions. Patience discipline and good money management are what make the biggest difference over the period.

[Abdulzuruku01]

The common mistake that people often make is seeing Bitcoin investment as a get rich quick schame/ investment. Even till this time a lot of people are still unable to realize that bitcoin is not a get rich quick investment that is why some people are still losing in bitcoin investment. I know there's no certainty about the outcome of our investment even though we hold for long term investment rather long term investment always bring positive returns than short term investment. over the years there has been an increase in the value of Bitcoin so these means that there's hope for those who are holding for Long term.

This is the problem of some new investors, they think investing in bitcoin only brings profits not knowing there's also losses. No any investment that's risk free, and the same goes to bitcoin and that's they need to be cautious and take the necessary steps before investing, which by doing proper research.

A lot of Nigerians believe in an investment or a business that will change their lives over night, because they want to get rich quick and end up getting scammed for ponzi and fake crypto schemes. Honestly this our mindset is what is increasing the rate of scammers in Nigeria everyday. But my advice to begginers, bitcoin doesn't guarantee quick profits, you have to hold for a long time to achieve that dream. You don't necessarily have start with large amounts to invest in bitcoin, you can start with small amounts using DCA strategy. The most important thing for beginners is to do their research before investing.

[Supreme Donvic]

All you have listed are correct, among all you have listed the more and most common mistake that new beginners usually make is thinking that Bitcoin investment is a quick profit making investment, and these are one of the reasons why they usually leave bitcoin investment when they discover that it is not a quick profit making investment anymore.
And again the mistake of using money meant for paying of important bills to buy Bitcoin or to invest in Bitcoin, is one of the biggest mistake that if you make will surely lead you to dipping hands into your bitcoin investment.

[MainIbem]

Absolutely, financial education is just as important as the investment itself some many people rush into Bitcoin expecting quick gains without understanding the risks or having a proper plan, investing with monet one can't afford to lose usually leads to poor decisions. Patience discipline and good money management are what make the biggest difference over the period.

Someone can either choose to invest with it Bitcoin, which i consider to be better or trade with it (more risky option) however thr mistake is when the person choose it as an investment option but want quick profit with same option, it doesn't work that way. People with such mentality are bound to fail cause "they can't eat their cake and have it". Bitcoin as an investment option requires holding for long period and if an investor goes against such concept the person has set him/herself in the path of failure. In other words traders chase quick profits while investors should work on their patience and hold the coin for long in their wallets, there's no two ways about that.

[Abu-Naim]

All you have listed are correct, among all you have listed the more and most common mistake that new beginners usually make is thinking that Bitcoin investment is a quick profit making investment, and these are one of the reasons why they usually leave bitcoin investment when they discover that it is not a quick profit making investment anymore.
And again the mistake of using money meant for paying of important bills to buy Bitcoin or to invest in Bitcoin, is one of the biggest mistake that if you make will surely lead you to dipping hands into your bitcoin investment.

The problem is that these beginners don’t care about all these outline details they should put into consideration they are eager to make profit because most of our newbies join the crypto to make money as quick as possible, but they forget to learn and understand that the market is not like that, they need to take their time to learn first before they can make profit, so ignoring the learning aspect is what kills them the most and they usually make lose their first capital before they realize that they need to be patient before making the money.

[fredericktaylor]

All you have listed are correct, among all you have listed the more and most common mistake that new beginners usually make is thinking that Bitcoin investment is a quick profit making investment, and these are one of the reasons why they usually leave bitcoin investment when they discover that it is not a quick profit making investment anymore.
And again the mistake of using money meant for paying of important bills to buy Bitcoin or to invest in Bitcoin, is one of the biggest mistake that if you make will surely lead you to dipping hands into your bitcoin investment.

The problem is that these beginners don’t care about all these outline details they should put into consideration they are eager to make profit because most of our newbies join the crypto to make money as quick as possible, but they forget to learn and understand that the market is not like that, they need to take their time to learn first before they can make profit, so ignoring the learning aspect is what kills them the most and they usually make lose their first capital before they realize that they need to be patient before making the money.

Of course, there are still many new investors who think that investing in Bitcoin does not require much time or patience to make a profit and that it is possible to make money quickly through investment. But the reality is that investing in Bitcoin as a long-term asset is very important to achieve success and to invest with discipline and confidence and patience. You should not be disappointed quickly by the volatility of the market. You should use every opportunity correctly with confidence and wait patiently for better times in the future. As a result, profits can be expected from Bitcoin in the future. Therefore, small activities through investment can bring big opportunities in the future.

[Jaycoinz]

The problem is that these beginners don’t care about all these outline details they should put into consideration they are eager to make profit because most of our newbies join the crypto to make money as quick as possible, but they forget to learn and understand that the market is not like that, they need to take their time to learn first before they can make profit, so ignoring the learning aspect is what kills them the most and they usually make lose their first capital before they realize that they need to be patient before making the money.

It's sheer stupidity for anyone to even start anything without learning the basics about the trade, and I am not talking only about Bitcoin. The thought of knowing your way around should always be the first thing to do if you have learned your way around what you want to start then it's gonna be hard for you to just start experiencing losses, and in the case of Bitcoin investment, one of the major thing to note is that it's not something that will give profit immediately but if you fail to do your research then you may come into the space with the social media buzz about Bitcoin that paints Bitcoin investments as some sort of ponzi scheme where you put millions and you hit extra profit over night and with this sort of mentality your downfall will quick and swift.

[Franctoshi]

If you want to become a Bitcoin investor and you are not willing to learn about Bitcoin and try to understand it, then you already have your level 1 investment mistake into Bitcoin. I strongly advise getting at least a basic knowledge of whatever you want to put your hard-earned money into, especially when you are not on the level of hiring financial advisers or financial experts who can help you make a proper decision about your investment.

[Rubuchi]

If you want to become a Bitcoin investor and you are not willing to learn about Bitcoin and try to understand it, then you already have your level 1 investment mistake into Bitcoin. I strongly advise getting at least a basic knowledge of whatever you want to put your hard-earned money into, especially when you are not on the level of hiring financial advisers or financial experts who can help you make a proper decision about your investment.

wondring how some people plan their investments without adding knowledge acquiring to it. How do you want to make a good investor without even understanding what investments are in bitcoin and how you can be a better investor. That's what also brings about people who cannot invest themselves and would rather send money to somebody else they trust to invest for them. That's Investment by Proxy. I don’t think that’s close to an ethical way to invest money in bitcoin and crypto in general. Unlike the traders who have to seek for deep knowledge of their trading markets and positions, investment does not require much of that learning, but application of soft skills such as patience, perseverance and removal of greed in the minds will help everybody into investing

[Cyber_warrior]

If you want to become a Bitcoin investor and you are not willing to learn about Bitcoin and try to understand it, then you already have your level 1 investment mistake into Bitcoin. I strongly advise getting at least a basic knowledge of whatever you want to put your hard-earned money into, especially when you are not on the level of hiring financial advisers or financial experts who can help you make a proper decision about your investment.

Yea, in everything you want to put you money it is very advisable to at least get a basics knowledge about it. When it comes to bitcoin investment, you don’t need to know much before starting your journey, you just need to know that you should use your discretionary income and also as a newbie, you should use the DCA strategy and you will be good, so far you investing for a long period of time.

Sometimes a lot of people allow seeking knowledge about investing delay their investment, which  some at the end keep procrastinating and even sometimes end up not investing. So know the basic you need to know and start your investment journey.

[Big Dirams]

If you want to become a Bitcoin investor and you are not willing to learn about Bitcoin and try to understand it, then you already have your level 1 investment mistake into Bitcoin. I strongly advise getting at least a basic knowledge of whatever you want to put your hard-earned money into, especially when you are not on the level of hiring financial advisers or financial experts who can help you make a proper decision about your investment.

Yea, in everything you want to put you money it is very advisable to at least get a basics knowledge about it. When it comes to bitcoin investment, you don’t need to know much before starting your journey, you just need to know that you should use your discretionary income and also as a newbie, you should use the DCA strategy and you will be good, so far you investing for a long period of time.

Sometimes a lot of people allow seeking knowledge about investing delay their investment, which  some at the end keep procrastinating and even sometimes end up not investing. So know the basic you need to know and start your investment journey.

That right when it comes to bitcoin investment we don’t really need to have the whole knowledge because that seems like a waste of time, if we have the basic knowledge then we can begin our bitcoin journey. All we need to start our bitcoin investment journey is just the discretionary income and we can start our journey with the basic knowledge and you are right about DCA method being the preferred option so far the journey is on long term then DCA can get us to where we are heading too but it will just take some patience.

[DYOR+BTC]

One thing that makes many develop hatred in bitcoin is the unforgettable lost they experience either because of there mistakes or lack of knowledge, at times this same lost destroying the investors interest in bitcoin are caused by our mistakes and some of this mistakes are: wrong approach to bitcoin,  greedy mindsets of investors, poor investment knowledge and so on.
Even outside bitcoin,  greed is a major challenging factor responsible for failure and other negative things of life, some investors always place what they stand to gain at the front and by so doing they may end up losing all at last.

[Nheer]

One thing that makes many develop hatred in bitcoin is the unforgettable lost they experience either because of there mistakes or lack of knowledge, at times this same lost destroying the investors interest in bitcoin are caused by our mistakes and some of this mistakes are: wrong approach to bitcoin,  greedy mindsets of investors, poor investment knowledge and so on.
Even outside bitcoin,  greed is a major challenging factor responsible for failure and other negative things of life, some investors always place what they stand to gain at the front and by so doing they may end up losing all at last.

These things you listed are strongly contributing to the loss of interest in investing in Bitcoin but I think the all them stem from their expectations from Bitcoin. Maybe due to stories they've heard or their beliefs about Bitcoin they think it's where they can double their money in no time and it makes them to approach it wrongly, end up being greedy and discourage them from learning what is necessary. Although sometimes some people get discouraged because of what they have experienced, like getting scam but these things are not supposed to make you lose interest but rather learn from them and get even better.
Of course when it relates to money people get greedy and let emotions take over which is not supposed to be so, greed doesn't always have a good ending.

[Derekfunds]

Anyone who is seeking idea from a trader shows that the person is never an investor because an investor can never go ask for idea from a trader knowing fully well that the dream and plan is not the same. talking about emotions, even if someone invested with money they can afford to lose trust me there will still be an emotion but not as when someone invested with what they can not afford to lose. the sad  truth is that you can not understand bitcoin completely that is why traders do make losses