What are the common mistake in investing crypto?

[Agios 1763]

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, But before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

[Agios 1763]

I am lucky to be able to join the CT forum, add a lot of knowledge, be able to ask questions and get answers quickly, thank you friends

[lucky80 1046]

1 hour ago, Agios said:

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, But before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

Buying all in that is the first mistake. You must diversify your portfolio. You are sleeping when you trade, that is the second mistake. You must cancel all orders before getting rest.

[starwill 456]

Diversifying is a good strategy when you don't have large capital and to begin to know this crypto world, you have to inform yourself daily to make decisions based on reality. Do not invest money you need the next day because this does not work like this, you must be patient and consistent with the investments you make.

[BitTyro 148]

On 10/9/2019 at 9:13 AM, Agios said:

What are the common mistake in investing crypto?

You also tag your post as trading, hence I assume that when you say investing, you are also referring to trading?

If that were the case, the most common mistake for newbie or seasoned traders alike is bear trap. This makes newbie traders become impatient and sell their coins for lower than what they bought it. This also makes seasoned traders to get stuck with their investments as they can't or don't want to sell their coins lower than its purchased value resulting to no profits for a period of time.

To mitigate the risk of a bear trap, a good trader still buys as the price goes down, spreading his buy orders so as to lower the average purchase price of his coins.

[Agios 1763]

15 minutes ago, jcarlo said:

In my opinion, a common mistake made by investors in the cryptocurrency market is FOMO and panic sell. We must have no easy emotions so as not to make mistakes when going to buy or sell

You're right, it's hard to control  a sense of emotion, and fear, when crypto curency prices drop dramatically, we don't know what to do. thanks for your information. Happy weekend

[duncun007 3577]

One of the most common mistakes I see in this space is buying a coin and expect it to give you profits right away and starts pumping like it was just waiting for you to buy it.And also not setting up a stop loss on you coins is dangers

[iloveyobit 6599]

always do your own reaserch before investing in any project and i have some rules that every trader must follow :

 

• always use your stop lose 
• dont put your eggs in one box 
• invest only what are you ready to loss 
•  

good luck 

[Lobachevsky 9]

one of the common mistakes in investing in Cryptocurrency is when the coin is at its low then no one is buying but when there is a bull run then everyone wants to buy it do your analysis to get more coins before there is a jump in its prices and another mistake is people tend to be careless about the security of their coin then its too late when they get hacked

[Zentoly 419]

On 11/10/2019 at 11:39 AM, Joo said:

My freind Investing in crypto that so many peoples make a mistake to invest in a single coin. If you want to invest in crypto then just invest in different coins like LTC,BTC,. Invest in these type of coins is the good idea not just invest in a single coin.... 

 

Right to say invest in just a single coin is not a good idea in this way the chances are so many high if a person who invest their capital just in one coins .

[nasipadang 399]

Most of the mistakes are attributed to emotions (greed), this is only based on what I have seen. The initial mistake was investing without knowing the risks and place of the investment. We know that crypto is volatile so the possibility of investment can be worth minus it is possible, many users are unaware of this.

[ElChupakabra 64]

In my opinion, the commin mistake in investing is how you safely encrypted it by your own privacy. Another thing mistakealso in investing is when they spend alot of they had and they always forgot to take a small part of it to invest.

[aqua 773]

On 10/9/2019 at 8:13 AM, Agios said:

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, But before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

You need to decide how much money you want to use to invest in crypto and don't use the money for your daily needs. For example, you have $10,000. You can use $5,000 to invest in crypto and $5,000 for your daily needs so your daily needs won't have a problem. I think with using $5,000, it is enough to start to invest in crypto, and you can buy a lot of potential coins. But you should research to find the right coin to invest in crypto. Otherwise, you will not make any profit at all. Maybe you will get confused about finding the right coin, and that is why you should learn how to analyze each coin in the market.

[Sahbana 212]

A common mistake in investing is to exchange crypto in an untrusted place, invest in buying one large amount of coins that should be divided into several coins that have a good reputation, then do not keep a private key containing your coins invest the right way.

[ultimateclub 392]

On 10/9/2019 at 7:13 AM, Agios said:

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, But before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

It's sounds good that you have enough money for invest. The mistakes you should avoid:

- First of all you shouldn't be emotional

- Choose the popular and familiar coins/tokens only

- Don't trust on IEO coins or tokens

- Obaerve the price table and graph

- Think for long run. Because sometimes you may face loss. Don't be panic.

- Always discuss with others while investing.

 

[SyntaxEr. 709]

On 10/9/2019 at 9:13 AM, Agios said:

What are the common mistake in investing crypto?

The common mistakes in investing cryptocurrency is riding the FOMO without doing solid research about the project because FOMO is just a hype that made to trap investors.

[Agios 1763]

6 minutes ago, SyntaxEr. said:

The common mistakes in investing cryptocurrency is riding the FOMO without doing solid research about the project because FOMO is just a hype that made to trap investors.

Thanks for your information, hope that would be useful for me and other user, just reading FOMO without research.

[xprince1996 865]

On 10/9/2019 at 9:13 AM, Agios said:

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, but before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

The common mistake in investing crypto is believing that you can x2 your investment in a day without doing anything it is a clear hyip so don't fall to it.

[Tarkin4ik 3160]

The same mistakes are mostly common for beginners, it’s that they are not patient and they don’t know how to wait, the one who makes good money on cryptocurrency is always calm.

[Naga 1250]

11 hours ago, SyntaxEr. said:

The common mistakes in investing cryptocurrency is riding the FOMO without doing solid research about the project because FOMO is just a hype that made to trap investors.

FOMO is something that all newbies has felt for and I'll admit that even I fell for it in my early trading days but later I started studying the coin and the market first before I invest in any coin.

[ASDFGHJKL17 267]

3 minutes ago, ako lng toh said:

The common mistakes in investing crypto is 

lack of knowledge. They invest even if they do not know how it really works and what does investing mean. They do not do some research, they just invest right away to earn some money even they do not know what is the rules and other stuffs. 

Yes i agree with you, they invest without knowing what was the result would gonna be, you have a point and you're right. 

[Naga 1250]

3 hours ago, xprince1996 said:

The common mistake in investing crypto is believing that you can x2 your investment in a day without doing anything it is a clear hyip so don't fall to it.

I think all those who think this way are because of the 2017 bull run when people were just buying random coins today and sell it in 2 daya for 3x returns but they thought it will last like that forever in crypto. Lol 

[xprince1996 865]

9 hours ago, Naga said:

I think all those who think this way are because of the 2017 bull run when people were just buying random coins today and sell it in 2 daya for 3x returns but they thought it will last like that forever in crypto. Lol 

Yeah, you are right they didn't know that is almost 2020 already haha. If they just do some research finding x2 coin is not difficult but it takes months or even years to happen.

[Muphin 459]

On 10/9/2019 at 9:13 AM, Agios said:

What are the common mistake in investing crypto?

Crypto currency is something new to me, and I've enough money to invest in crypto to make a profit, But before starting to invest, I want to know first, are there  common mistakes that are often made by beginner traders

They do not see the market first before investing. Because first thing you need to do is learn every coin, then you can compare it after you read several facts and information about each coin. It's important you have knowledge of what you are doing to avoid regrets.

[Naga 1250]

1 hour ago, Muphin said:

They do not see the market first before investing. Because first thing you need to do is learn every coin, then you can compare it after you read several facts and information about each coin. It's important you have knowledge of what you are doing to avoid regrets.

Checking the charts should be the first thing every trader should do before opening a trade which is why I always go and check on coinmarketcap and see the volume as well as how many exchanges have this coin listed.