Mistakes in crypto Investment

[ovcijisir]

My mistakes in crypto investing are:

1. I used small exchange that was hacked, and I haven't withdrawn funds on first signs of trouble.

2. I bought mostly shitcoins when I started to be interested in crypto. Almost all of these projects are now dead projects or practically worthless.

After having these bad experiences I sold almost all altcoins (for very low price) and have almost exclusively BTC, and try to keep my funds on exchanges for very limited time.

[Dzwaafu11]

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.

Is not advisable to borrow momey to invest or trade, it's always give Newbies or even anyone problem because they can't concentrate fully to trade, most of them don't borrow money to invest because it take a long time to get profit talkless of paying back the money.

So.most of them borrow just to trade, bevause some of the Newbies think trading is something you can make quick money from so they don't care to borrow money and trade, but the process of trying to make profit and pay back the borrowed money, that where they always have problem because they want it so fast and its doesn't work.

[Asiska02]

So.most of them borrow just to trade, bevause some of the Newbies think trading is something you can make quick money from so they don't care to borrow money and trade, but the process of trying to make profit and pay back the borrowed money, that where they always have problem because they want it so fast and its doesn't work.

Nothing good and worth it comes that easy. The crypto space has really made some people have a very big anticipation way beyond what they can imagine for some certain things. Newbies should be more careful and ready to learn as trading is not the first thing they should do when they decide to join the crypto space. Trading is very controversial and requires a lot of time and knowledge. If one can actually get to let trading be and focus more on investment as a newbie, it will give them a better approach and opportunity to be able to stay long in the market

[dwyane36]

Nothing good and worth it comes that easy. The crypto space has really made some people have a very big anticipation way beyond what they can imagine for some certain things. Newbies should be more careful and ready to learn as trading is not the first thing they should do when they decide to join the crypto space. Trading is very controversial and requires a lot of time and knowledge. If one can actually get to let trading be and focus more on investment as a newbie, it will give them a better approach and opportunity to be able to stay long in the market

Not every newbie has enough funds to start their crypto journey by investing for the long term rather than trading. After all, as the market evolves, more and more CEXs are making trading easier, and thanks to leveraged derivatives, the barrier to entry for newbies is significantly lower. However, trading derivatives comes with a downside: higher risks that not all newbies understand.

[Out of mind]

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.

When a use case has a large amount of acceptance among people, its value will increase and its demand will continue to increase. Use case projects will be successful only when people are more inclined towards it and everything that people need in their daily lives is used, then the projects will be credible. It is best to know everything before investing in such projects. If a project has a very good future and they are realistic, then the price of that coin will increase. If a project does not have a use case, then people will not show much interest in it and this project will not be very good, rather it is likely to be closed in the future. If a project has everything that is practical in daily life and if people continue to invest in them, then the coin will definitely be good, and its value will increase.

[YellowSwap]

The only one I wouldn't do on your list is staking coins to get higher APY, most of the times you will get trapped and others will dump on you and when your unlock period finally comes you will be selling your coins for less cheaper rate.

On others you are wrong, I don't see anything wrong in following the money, we are not in a bull market and many people have made over 10x in Robinhood chain already, there are just too many, stonks for example have changed lives.

This is only suited for people who can do research regularly and get their fingers busy, rotating is a lot of work and that's why some people turned thousands into millions, it's not for everyone.

[WatChe]

Nothing good and worth it comes that easy. The crypto space has really made some people have a very big anticipation way beyond what they can imagine for some certain things. Newbies should be more careful and ready to learn as trading is not the first thing they should do when they decide to join the crypto space. Trading is very controversial and requires a lot of time and knowledge. If one can actually get to let trading be and focus more on investment as a newbie, it will give them a better approach and opportunity to be able to stay long in the market

One reason why people lose money in crypto is because they have high expectations from this volatile market. Many newbies comes to crypto market just to make quick gains and since this is something very difficult to achieve in this market, they end up losing money. If someone is new to crypto market then his focus must be to learn how to do trading and investment here. Once we are familiar with strategy (long term investment or trading) that we are interested in then rest of journey become easy. Its useless to chase profits, without having proper knowledge of the market.

[Hyphen(-)]

One reason why people lose money in crypto is because they have high expectations from this volatile market. Many newbies comes to crypto market just to make quick gains and since this is something very difficult to achieve in this market, they end up losing money. If someone is new to crypto market then his focus must be to learn how to do trading and investment here. Once we are familiar with strategy (long term investment or trading) that we are interested in then rest of journey become easy. Its useless to chase profits, without having proper knowledge of the market.

What kills them most is not thinking in the other direction. Since they can think of crypto being volatile to make them rich within few days or few minutes, they don’t think of it as something that will also bankrupt them within that same time range since the price is volatile; they only think in the negative direction since their aim is to make quick money, they will not pay attention to risk management techniques and will not do much investigation before the either invest it no enough knowledge before they start to trade, that had been the reason why beginners and greedy crypto investors and traders lose money easily.

[Webutxo]

Is not advisable to borrow momey to invest or trade, it's always give Newbies or even anyone problem because they can't concentrate fully to trade, most of them don't borrow money to invest because it take a long time to get profit talkless of paying back the money.

So.most of them borrow just to trade, bevause some of the Newbies think trading is something you can make quick money from so they don't care to borrow money and trade, but the process of trying to make profit and pay back the borrowed money, that where they always have problem because they want it so fast and its doesn't work.

This experience is not about newbies alone, it's encompasses all traders. Have you heard of propfirm accounts? Where people are giving money on frex to so competition to trade with a live account and after the everything, they compensate the traders, some people that have experience in trading but lose everything in gambling do this alot, they buy the account too competite with other people but most often, they don't pay them and all their money gone.

If you want to go far in trading, do it gradually and do it the way you want. Avoid internet people and people that have nothing to offer. Some of the people that are doing show off on internet about their trading profits are mostly not into trading, they are probably into something but they used trading to cover their activities. No reasonable person comes on the internet to show off the money they work very hard buying expensive wristwatch that lose values and exotic cars.

[Cgrexp]

One reason why people lose money in crypto is because they have high expectations from this volatile market. Many newbies comes to crypto market just to make quick gains and since this is something very difficult to achieve in this market, they end up losing money. If someone is new to crypto market then his focus must be to learn how to do trading and investment here. Once we are familiar with strategy (long term investment or trading) that we are interested in then rest of journey become easy. Its useless to chase profits, without having proper knowledge of the market.

What kills them most is not thinking in the other direction. Since they can think of crypto being volatile to make them rich within few days or few minutes, they don’t think of it as something that will also bankrupt them within that same time range since the price is volatile; they only think in the negative direction since their aim is to make quick money, they will not pay attention to risk management techniques and will not do much investigation before the either invest it no enough knowledge before they start to trade, that had been the reason why beginners and greedy crypto investors and traders lose money easily.

The two reasons for volatility are that large profits can be made in a short period of time, and large losses can also be made in a short period of time. Making decisions based solely on potential profits obscures the reality of risk. When the main goal is to make a lot of money in a short period of time, one starts to judge one's decisions by the potential for profit. This increases the likelihood of making risky decisions such as using excess capital, taking large positions, or entering the market without any realistic plan. Risk management is not a method of ensuring profit. Its purpose is to control the level of loss in the event of wrong decisions or adverse market conditions. Entering the market without understanding anything, just listening to others or seeing profit stories, can also cause problems. It is necessary to have a minimum understanding of one's own money, how much risk one can take, and the volatility of assets. It is not that everyone who loses money in crypto is greedy or ignorant. Even knowledgeable and experienced participants can face losses due to market uncertainty. A responsible participant is aware of potential losses in advance and manages his risk and capital accordingly.

[RockBell]

Not every newbie has enough funds to start their crypto journey by investing for the long term rather than trading. After all, as the market evolves, more and more CEXs are making trading easier, and thanks to leveraged derivatives, the barrier to entry for newbies is significantly lower. However, trading derivatives comes with a downside: higher risks that not all newbies understand.

Many people are interested in investing in Bitcoin, but funding will be a major obstacle because the economy is already challenging, in my opinion.There are a lot of tools that you can use, but when it comes to investing, I think we only need the fundamentals and don't need to do anything. If we want to invest, it would be better to just buy and then put it aside so we can buy more. Investing is one of the less free that most people love just like said the challenges is the money to start with but with income starting should not be a problem at all.

[boyptc]

I still see people who promote liquidity providing. Although it's not entirely the same as staking but, the deposit thing is the same.

With a lot of misinformed people who only follow these people who seem to look knowledgeable with what they show shares that they can earn that much in it.

They're not mentioning the risk, aside from the actual investment but the risk that the platform where they'll LP or stake might be compromised.

[Futurexxx]

Many people are interested in investing in Bitcoin, but funding will be a major obstacle because the economy is already challenging, in my opinion.There are a lot of tools that you can use, but when it comes to investing, I think we only need the fundamentals and don't need to do anything. If we want to invest, it would be better to just buy and then put it aside so we can buy more. Investing is one of the less free that most people love just like said the challenges is the money to start with but with income starting should not be a problem at all.

If you want to invest in Bitcoin, their is nothing much that is required for a start, once you have a discretionary income and the basic knowledge on how to buy and accumulate, you are good to go. It's along the line of your accumulation you can seek further knowledge on what is required to be able to hold very strong, by putting down emergency and reserve funds in place to protect your investment against any real life emergencies that may threatens your holdings.

[Dunamisx]

Mistakes are inevitable to an extent but we can still manage to reduce the extent at which we have this taken place, this is what we must be more extra careful about how we invest on trade in cryptocurrency, some mistake we may costly to an extend that can even ruin our career in crypto, this is why every decision we are taking must be under a deliberate action that we know both the benefit and the consequences that may come out of doing so.

It is unwise of us to decide on doing something we don't know about, this is why the professional traders will always be up to task because they don't want to risk their chance is of losing, they also focus more on the strategy they use and ordering market indicators that gives them the direction to when to perform a particular trade and how to engage it for proper profitability.

[doomloop]

I think this is the right board for a topic like this. It is good that you are educating others but did you have any positive experiences in the past? From where did you learn to overcome your mistakes or at least identify them? Anyone can showcase their knowledge but what matters is if that person really has that kind of experience? You should have made some decent profit if you avoided these mistakes and I am sure we would all love to hear your real experience after following what you shared above.

Experience teaches a lot when it comes to investing. No matter how many books we read or how many videos we sell, we can only really become successful if we keep practising and remain consistent.

[Big Dirams]

Many people are interested in investing in Bitcoin, but funding will be a major obstacle because the economy is already challenging, in my opinion.There are a lot of tools that you can use, but when it comes to investing, I think we only need the fundamentals and don't need to do anything. If we want to invest, it would be better to just buy and then put it aside so we can buy more. Investing is one of the less free that most people love just like said the challenges is the money to start with but with income starting should not be a problem at all.

If you want to invest in Bitcoin, their is nothing much that is required for a start, once you have a discretionary income and the basic knowledge on how to buy and accumulate, you are good to go. It's along the line of your accumulation you can seek further knowledge on what is required to be able to hold very strong, by putting down emergency and reserve funds in place to protect your investment against any real life emergencies that may threatens your holdings.

Investing in bitcoin doesn’t requires much for a starter, however for an investor to be able to experience massive benefits from bitcoin then holding for a long term should be what we prioritize because that absolutely where the high benefits lays despite it not being guaranteed but still chances of success is higher than short term.
 
However, newbie investors shouldn’t get it wrong about your statement “By putting down emergency funds and and reserve funds” and thought of making availability for reserve funds and emergency funds instantly, Nope we can build our emergency funds and reserve funds along side our bitcoin investments. We can build them together it not definitely providing the both at the same time instantly.

[Webutxo]

I still see people who promote liquidity providing. Although it's not entirely the same as staking but, the deposit thing is the same.

With a lot of misinformed people who only follow these people who seem to look knowledgeable with what they show shares that they can earn that much in it.

They're not mentioning the risk, aside from the actual investment but the risk that the platform where they'll LP or stake might be compromised.

If you don't have large money to provide liquidity, it doesn't worth it and the fees is even discouraging now. The reason why many people were doing that back then was because they do think project they provide liquidity might do airdrop, that was the motivation them when people farm airdrops but now, the concept has change, it's not profitable and they have discourage it because of how people abused airdrops and steal money from airdrops.

Liquidity is not beneficial to the person that provide it unless when you keep your liquidity and the coins start pumping. If the pair you included in the liquidity provided price move, you will gain much. However, the hack and exploit of Defi is discouraging. The way hack has happen this year, one will think that there is no hope again, literally all the protocols have been including the custodial wallets.

[Qhunman]

Many people are interested in investing in Bitcoin, but funding will be a major obstacle because the economy is already challenging, in my opinion.There are a lot of tools that you can use, but when it comes to investing, I think we only need the fundamentals and don't need to do anything. If we want to invest, it would be better to just buy and then put it aside so we can buy more. Investing is one of the less free that most people love just like said the challenges is the money to start with but with income starting should not be a problem at all.

Economic challenges are everywhere but that isn't a valid reason why you shouldn't invest in bitcoin as you only need your discretionary income and nothing more to get started. You don't need any fundamentals but just discretionary income to invest, whatever you are investing in other than your discretionary income isn't necessary.

You sound like a trader otherwise what tools are you using to buy bitcoin? From my experience and years of investing in bitcoin,I haven't heard of any special tools that are use to invest in bitcoin. As an investor, you don't need any of those special tools to buy bitcoin,all you need is your discretionary income, internet and your preferred Centralise exchange, nothing more.

[Promocodeudo]

Economic challenges are everywhere but that isn't a valid reason why you shouldn't invest in bitcoin as you only need your discretionary income and nothing more to get started. You don't need any fundamentals but just discretionary income to invest, whatever you are investing in other than your discretionary income isn't necessary.

You sound like a trader otherwise what tools are you using to buy bitcoin? From my experience and years of investing in bitcoin,I haven't heard of any special tools that are use to invest in bitcoin. As an investor, you don't need any of those special tools to buy bitcoin,all you need is your discretionary income, internet and your preferred Centralise exchange, nothing more.

I wouldn't want to say he is talking like a trader or not, I think the only reason why someone wouldn't have to invest in Bitcoin is, if he or she does not have discreationary income, humans excuses and complain are enormous, although no one should be persuaded into investing in Bitcoin, everyone has the right to what the want and their decisions, and I have come to understand that there's nothing anyone will preach to convince someone whose minds are made up in priotizing short term unrealistic profit to the long-term accumulation and hodling of Bitcoin that we know, thats more effective in terms of rewards that's expected by Bitcoiners on a long run.

[boyptc]

I still see people who promote liquidity providing. Although it's not entirely the same as staking but, the deposit thing is the same.

With a lot of misinformed people who only follow these people who seem to look knowledgeable with what they show shares that they can earn that much in it.

They're not mentioning the risk, aside from the actual investment but the risk that the platform where they'll LP or stake might be compromised.

If you don't have large money to provide liquidity, it doesn't worth it and the fees is even discouraging now. The reason why many people were doing that back then was because they do think project they provide liquidity might do airdrop, that was the motivation them when people farm airdrops but now, the concept has change, it's not profitable and they have discourage it because of how people abused airdrops and steal money from airdrops.

Liquidity is not beneficial to the person that provide it unless when you keep your liquidity and the coins start pumping. If the pair you included in the liquidity provided price move, you will gain much. However, the hack and exploit of Defi is discouraging. The way hack has happen this year, one will think that there is no hope again, literally all the protocols have been including the custodial wallets.

I think they have one thinking and that's very common, and that's about the passive income. It's simple as that but even if they understand the risk, they still like to pursue it.

IMHO, the risk that it possess isn't worth it with the capital that it requires.

Aside from impermanent loss, the risk of being targeted by hackers for these platforms have been always a thing.