Top 5 Noob Mistakes in Crypto!!
Top 5 common mistakes newbies make when entering crypto!
0:19 Number 5... Balls deep!
0:48 Number 4... FOMO
1:24 Number 3... FUD and fake news
1:54 Number 2... Buy the news
2:13 Number 1! Beware of exchanges
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Absolutely agreed . Resteeming it.
My biggest mistake was to buy an altcoin right after it was listen on the exchange after the ico. aaaaaand it dropped 90% .. :(
Hi Mikel !
Really nice tips! Thanks a lot my friend.
10 out of 10 for your list of crypto don'ts. I think many people have committed some if not all of your top 5. To avoid these and other "crypto sins" it is probably a good ideas to adopt Mr Spock as your alter-ego.
Very insightful and true. I wish I knew this at the beginning. Unfortunately I did a few of these like FUD and FOMO, but I have learned a lot since starting. Thanks.
Thank you for the advice. It should be compulsory before any buys any crypto that they should have to read some simple consumer advice such as you suggest.
Am afraid I have made several of these mistakes, like so many others.
Storing btc on Mt.Gox was painful at the time yet we may get some compensation before the end of the year. Lol!
Provided you don't bankrupt yourself then mistakes are a way of learning so beat yourself up.
The U.S. Congress has just issued its annual Economic Report that is rather bullish for crypto as it calls the technology,'''truly revolutionary''. and calls upon the government to examine ways of investing in blockchain.
All crypto investors should look at fundamentals such as this not at get rich quick FOMO.
I think the number one mistake is going 100% all in on crypto (actually, 100% into anything is a horrible idea).
When I see some of your contemporaries on YouTube encouraging others to go all in I want to scream. This is highly, highly irresponsible advice.
Fair enough mate ! People (some Youtubers) just see their own interest, they make more on short term but are obviously loosing money on the long term...
Like I became rich holding bitcoin so you hold crypto if you want to get rich as well... Whereas the truth is marketcap is getting lower whereas projects are in constant progression. So obviously holding is not always the best solution..
Exactly! And the ones that say they're "all in" on crypto when you know they cash or real estate or other assets drive me insane. They encourage their followers who probably aren't as well off as they are to assume massive risks and when the market dips...things turn ugly, fast.
At the end of the day, you are the one using your hard-earned cash to purchase cryptocurrency. If you don’t understand the product, or the value, and you’re only listening to “experts” on Medium, Twitter, or Slack who tell you when to buy and sell, you’re going to get in big trouble and lose a lot of money.
your information very important of Noob Mistakes knowing matter.i think that, every steemians should be know its 5 mistakes matter of cryptocurrency.but i don,t know this matter.i see your video and i am knowing this important matter. . I think we should not rush to make decisions and be patient.It’s important to make a plan for selling your crypto. You must have an end-game, and you must stick to it, no matter what. thanks to sharing for your good post dear.. @boxmining