Mistakes in crypto Investment

[Justbillywitt]

I made every of this single mistake in altcoins and get hit badly.

There are still other mistakes
* Believing the strong tokenomics (such as buy-back-and-burn) will keep the crypto price up
* Believing that strong use cases (for the crypto) will keep the price up.

Neither of the above reasons are good enough to keep altcoin prices up.

Use cases without mass adoption is nothing. Use cases can only affect the price, of project, if the people are willing to use it. Believing that use cases will make the price of project go high is not totally wrong. But before you invest in such projects, ask yourself if the use cases associated with the project, is it what the people really need? A use case that can’t attract people is worthless. But if a project has use cases that the people are willing to adopt immediately and use in everyday life, it will surely impact on the price of the coin when lunched.

[Rengga Jati]

• Investing in ICO's and IDO's

This is not for long term. Better to take this as high risk assets. So, we prepared the risk management for it. Not for long term because of its still uncertainty.

Risk Management

It is very important. Risk management is one of best parts to consider when going to invest. This will help us to minimize risk and enhance profit probability.

all this is based on what I have studied and observed here and what I have learned regarding the past history that exists here in the crypto space.

We have likely experienced this ourselves: crypto investing isn't exactly easy. Many projects end up as nothing more than junk, and there are plenty of scams out there. Unfortunately, we sometimes have to go through those difficult phases. At the very least, we shouldn't let ourselves get bogged down by the negatives of crypto, because the truth is that we can learn and prepare for everything beforehand.

[savetheFORUM]

Investing in new alt coins is a mistake no matter if they in theory offer huge rewards but in end the investor will face losses and nothing else. It's more like gambling than investing because most of those coins die within months and only a few out of 1000's can stand up to investor's expectations. It's 10000x better to choose Bitcoin when someone needs to hold the bags or choose those alt coins that have been doing well in the market for years and has some good utility. When it comes to alt coins I think only top 10 or top 20 should be preferred as they contain less risk than others but again one should invest in those after deep research and even then one may only invest in those as a risky investment not something without risk.

I think there is generally nothing wrong with people investing in new cryptocurrencies, but there should at least be some research involved, and if the results of the research stays positive and indicates that making an investment in the researched asset could be worth it, then the researcher should go for it. However, if someone doesn't want to do any research, and all they are interested in is making profits but they aren't ready to put any work into it, then they are surely signing up for trouble, because when you make random investments, you are basically trusting those projects blindly because you don't even know anything about them.

The first priority should of course be the top cryptocurrencies, because if you know you can make profit from them and they are providing you with good trading or investment opportunities, then you should just go with them. But, if someone wants to try their luck with some new cryptocurrencies, they should take the risks, but what I'm saying is they shouldn't take blind risks, when you have to take the risk, then at least put in some efforts and take calculated risks so that the chances of losing money should be lower than making money.

[TheUltraElite]

I dont suggest diversification of your capital into multiple coins. Only bitcoin is enough for the long term, maybe you can stretch it to the top 5 coins out there as per any aggregator. Even then I support buying of only bitcoin over any other coin.

The important mistake that needs to be avoided is buying at the high because everyone is rushing in to buy and selling at the low because everyone has lost all hope on that asset.

This along with patience to hold the coins for required amount of time to profit from selling it makes a good trader.

[The Cryptovator]

A single mistake would destroy us during investing in altcoins. Unless we can choose the right altcoin, then probably it won't go back to the purchase price. I have learnt a costly lesson from the shitcoin. At the beginning, I had invested in Pumapay shitcoins. Over one Bitcoin was invested there, and I lost everything.

Second, I invested in Arbitrum, and it seems it has gone almost to zero; that was above two dollars once a time. I heavily invested in that, and it seems everything is gone, although I still hope I will recover my funds once it hit my average purchase price. But pumapay is already gone and can’t be recovered.

Regarding investing in an ICO or a brand-new coin, I was never invested there. I can’t trust a brand new project, as it was even harder to invest in existing altcoins. It’s better for a beginner to invest in Bitcoin or only choose altcoins that are on top and have potential growth.

[yudi09]

• Risk Management

Maybe some of us invest all of the money they have into a single token and if it is goes out, it simply means you've lost your money. It is important to start splitting your money on a specific coin you wanna invest in. That's way even if that one goes out you don't get to lose all your money.

So learn to do proper risk management and iits gonna help us for sure in the end.

Diversifying your investments—not putting all your eggs in one basket—is a smart move, and this is one form of risk management that I understand.
The percentage allocation doesn’t have to be perfectly balanced; instead, some should be prioritized based on their type and proven potential.
ICOs aren’t new, but many ICO projects have caused people to lose their money.
Diversifying your coin portfolio also requires due diligence. Not all coins are good, and most end up being discarded. Altcoins like Ethereum can be a second choice after Bitcoin.

[Anthony Bill]

Many newbies have made a lot of mistakes from crypto investment before they realized their mistakes, because they Lack real helper in crypto investment but since they find this forum it has helped them to get it right to improve in crypto profit or income. Do everything possible within your knowledge not to borrow money to invest or trade Bitcoin because it will not make you to concentrate to where to achieve profit or income that will make you to avoid mistake in the market.

[Bushdark]

I made every of this single mistake in altcoins and get hit badly.

There are still other mistakes
* Believing the strong tokenomics (such as buy-back-and-burn) will keep the crypto price up
* Believing that strong use cases (for the crypto) will keep the price up.

Neither of the above reasons are good enough to keep altcoin prices up.

Almost all investors have made this kind of mistakes in the paste and the only way to get rid of that experience is to make corrections and shift the greed of making fast profits away from us when investing in the market. Investing in altcoins especially new projects with presales with so many promises for investors need sufficient research before investing in those projects to avoid the chances of losing money due to rug pull or market dip.

Money can be lost when investing without adequate planning. There are still promising projects claiming to buyback the dip and make their price valuable but most of these promises are not being enforced due to low investors and the mindset to make money without considering the fate of investors.

[Botnake]

I dont suggest diversification of your capital into multiple coins. Only bitcoin is enough for the long term, maybe you can stretch it to the top 5 coins out there as per any aggregator. Even then I support buying of only bitcoin over any other coin.

The important mistake that needs to be avoided is buying at the high because everyone is rushing in to buy and selling at the low because everyone has lost all hope on that asset.

This along with patience to hold the coins for required amount of time to profit from selling it makes a good trader.

Diversification is good but I don't think its actually helpful when it comes to crypto investment. Bitcoin is the only coin proven to be highly profitable for long term so why need to diversify? We can diversify into different assets like stocks and real estate, but with crypto investment, let's stick to bitcoin.

However, not everyone who decides to invest in bitcoin remain patient and consistent in the long run. Some have turned weak hands and panic when the market is crashing, while some have become more patient and understanding every time the market is in a negative position.

[Alphakilo]

I dont suggest diversification of your capital into multiple coins. Only bitcoin is enough for the long term, maybe you can stretch it to the top 5 coins out there as per any aggregator. Even then I support buying of only bitcoin over any other coin.

The important mistake that needs to be avoided is buying at the high because everyone is rushing in to buy and selling at the low because everyone has lost all hope on that asset.

This along with patience to hold the coins for required amount of time to profit from selling it makes a good trader.

Diversification is good but I don't think its actually helpful when it comes to crypto investment. Bitcoin is the only coin proven to be highly profitable for long term so why need to diversify? We can diversify into different assets like stocks and real estate, but with crypto investment, let's stick to bitcoin.

However, not everyone who decides to invest in bitcoin remain patient and consistent in the long run. Some have turned weak hands and panic when the market is crashing, while some have become more patient and understanding every time the market is in a negative position.

I think besides Bitcoin, Eth, Sol could rank among potential good crypto currency investment options, but I won't advice any newbie who has no idea how the market moves to invest in them.
Besides the key to being profitable in crypto investing is first knowing risk management practices and it involves capital management, DCA strategy of Bitcoin for long term plan while those early altcoins I mentioned should only be traded for short term with strict exit plan.
Never invest in projects that are hype driven and that's how I draw my conclusion on this matter.

[bitzone]

I've made this mistake myself. Holding every coin just because you hope it will eventually pump can turn a good trade into a bag you carry for years.

I've learned the hard way that not every coin deserves to be held long term. Sometimes taking profit and walking away is better than believing every project will come back.

[Bitcoin_people]

If you are going to buy an altcoin, spread your investment to different altcoins that is if you have enough funds to go around them, there is every tendency that you are going to lose in 5 altcoins if you invest in 10 top altcoins and if you probably invest in wrong ones, you stand a chance t lose everything with altcoins. If you want to stay more safer, diversify more into Bitcoin too.

Altcoin investment is not a reliable investment at all, but if someone invests it who does not lack money, they can buy any few coins of their choice. If someone chooses to buy ten altcoins and keeps them for the future, then if only a few of them are successful, they can get a lot of returns. But according to what I have seen, there are many people who have bought many coins with their own money so that they can make a lot of profit from any of them in the future if they reach a good height, but so far I have not seen anyone who has made a lot of profit. Those who invest in altcoins can lose their money, this is the highest risk, we have seen many meme coins in the market and they pumped a lot in a short time and later they died completely. However, if someone can buy and keep the best ranking coins, then if they continue to move towards the height in the future, there is a possibility of profit. However, I think that investing in altcoins is only suitable for those who own a lot of money, even if they lose their money, it will not affect their mentality much.

[Woodie]

If we are going to call "Investing in ICO's" or "staking" to be mistakes then we are also kind of agreeing that crypto is a scam ! We can't be be cherry picking just to push for a certain narrative.. because if we say ICOs failed terribly then we are also saying these project's are pyramid schemes that just reward the early investors including their Devs who pre-mine or mint coins for themselves.. otherwise the altcoin market is a very dangerous place  let's stick to Bitcoin..

[maydna]

I've made this mistake myself. Holding every coin just because you hope it will eventually pump can turn a good trade into a bag you carry for years.

I've learned the hard way that not every coin deserves to be held long term. Sometimes taking profit and walking away is better than believing every project will come back.

Holding every coin will not recommended because you never know which coin will rise and gives profit. But if you can select some, less than 10 coins by deep research, you can hope to make a profit. Actually, no need to holding every coin but only choose the profitable coin so you have more opportunities to profit. It is good that you can learn from your experienced before so you should remember that and not making the same mistake.

[vs2014]

Holding random coins for long can be a big mistake in crypto even I've hundreds of shitcoins dead in my wallet. Most of them will never recover even if a bull run comes cause the teams are busy selling other new shitcoins. So before buying, people should investigate every detail of the project including team members and the development. High APY may look attractive but it also comes with high risk. Some people invest money for airdrop but later they focus they lose money in total. We should invest according to our limit and better to invest good coins that have both potential and utility to avoid unnecessary losses

[Leahized]

I've made this mistake myself. Holding every coin just because you hope it will eventually pump can turn a good trade into a bag you carry for years.

I've learned the hard way that not every coin deserves to be held long term. Sometimes taking profit and walking away is better than believing every project will come back.

Well, is it profitable to lean towards altcoin? Probably not. So there is no necessity to move in this direction. Do you know we haven't seen any altcoin season for the last 3 to 4 years? I think this is a reasonable aspect for us to refrain from investing. However, investing in Bitcoin is sensible and profitable. Our expectations will never be realised quickly. So it is not justifiable to keep money in shitcoin for excessive profit.

The mentality of individuals investing in shitcoin is different; they see investment as a gamble (means quick income). But in reality, the opposite exists. However, you can hold some reliable coins. For example: ETH, BNB, SOL, LTC, XMR. That can give you a good return in the future.

[Abu-Naim]

If we are going to call "Investing in ICO's" or "staking" to be mistakes then we are also kind of agreeing that crypto is a scam ! We can't be be cherry picking just to push for a certain narrative.. because if we say ICOs failed terribly then we are also saying these project's are pyramid schemes that just reward the early investors including their Devs who pre-mine or mint coins for themselves.. otherwise the altcoin market is a very dangerous place  let's stick to Bitcoin..

They are not completely a mistake, but some people invest blindly without taking some cautions which including looking at how solid the project is and how many solid investors show interest in the project, if they invest blindly just to be among the first investors, they took a risk that only lucky investors will make profit from, we can say that they made mistakes if they truly don’t do research and the project they invested in at ICO crashed immediately, and some of them will blame crypto as scam for their mistakes.

To avoid all these mistakes, it is better to avoid altcoins and focus on Bitcoin, but you should also avoid making the mistake of leaving your Bitcoin in centralized exchanges, move them to your wallet and save you recovery keys.

[Baki202]

I think besides Bitcoin, Eth, Sol could rank among potential good crypto currency investment options, but I won't advice any newbie who has no idea how the market moves to invest in them.
Besides the key to being profitable in crypto investing is first knowing risk management practices and it involves capital management, DCA strategy of Bitcoin for long term plan while those early altcoins I mentioned should only be traded for short term with strict exit plan.
Never invest in projects that are hype driven and that's how I draw my conclusion on this matter.

There are good coins out there, and the list you provided is among the best that you can invest in, and there isn't much to do. When it comes to investing and the market doesn't really matter when you want to invest, it will be better for you to know how to accumulate, which is what I think is even more important, and then how you can do DCA because that's one of the few ways that you can succeed if you want to be an investor in Bitcoin. People have been asking how to be committed, and that is the only way things can get better. Because situation like this newbies newbies are always confused.

[Webutxo]

If we are going to call "Investing in ICO's" or "staking" to be mistakes then we are also kind of agreeing that crypto is a scam ! We can't be be cherry picking just to push for a certain narrative.. because if we say ICOs failed terribly then we are also saying these project's are pyramid schemes that just reward the early investors including their Devs who pre-mine or mint coins for themselves.. otherwise the altcoin market is a very dangerous place  let's stick to Bitcoin..

Perhaps we take a moment and address it like you said. There is nothing you have said that is different, altcoins are scams, only in altcoin somebody will create a project, raise millions to build it, make money from it and then abandoned it as if people didn't used their money on it. The boldness of them to want to create something different is what pains me, why create another project again when you failed on the first one if not for greediness.

The investors that are buying this coins are not helpful. They contribute to why projects failed because they go there with the intention of buy, make some profit and dump it on them. This is what they are doing in altcoins that has rendered it useless. Even more reason why other techs looks crypto like waste of time and effort, we lack creativity, nothing innovative about altcoins, just copycat and noises.

[I_Anime]

One thing I’ve learned in this crypto space is that, the mindset of finding a project that will give you a better ROI won’t do you much good . Set a standard and stick only to solid projects that definitely worth your resources not the ones that will rekt you .

DYOR . Having the zeal to always research will save your money resources from a lot of things . Many don’t research that’s why they kept going into shitcoins in order to make some quick/fast profits .