Top 3 Crypto Investment Mistakes?
Hey guys, it's the voice of the blockchain here, Satoshi's big cousin, cryptography's finest, Champagne Crypto, thanks for tuning in.
Today I want to talk about my top crypto currency investment mistakes and what I've learned from them so far.
My top three crypto currency investment mistakes:
Day Trading
While day trading crypto coins can be extremely lucrative, I find that the time and stress spent chasing winning coins on the exchanges is not as beneficial as earning crypto by creating content on sites like Steemit or cloud mining on Genesis and Hashflare. I still trade some days but I experience better returns by focusing more time on earning and "HODLing".
Investing on a idea and ignoring the community and functionality
In the world of blockchain technology great ideas come a dime a dozen. What I'm learning is that community engagement and the level of functionality behind the coin is more important than a fancy idea. Ask yourself, how many people are already using this coin and how often? This is why I find STEEM so valuable.
Ignoring circulating supply
How many coins are in circulation? Is the supply fixed? What are the policies regarding the creation or destruction of the coin? Supply is directly correlated to price and its important to understand how this will work.
What are some of the mistakes you've made investing in crypto currency? Leave a comment below.
Join Genesis now! Earn Bitcoin and Ethereum daily!
Use promo code zM3Ejh and get a 3% discount:
https://www.genesis-mining.com/a/836035
Join Hashflare. Earn Bitcoin BTC daily by cloud mining.
https://hashflare.io/r/93DFD1A6
Join Coinbase. Buy $100 of Bitcoin, Ethereum, or Litecoin with US Dollars and we'll both get $10.
https://www.coinbase.com/join/564c995999b03f11f70001a9
Changelly. Buy Bitcoin at the best rates. Visa Master Card accepted
https://changelly.com?ref_id=aa82d63b3bc1
Get 25% off Cryptopay. The best Bitcoin debit card
https://cryptopay.me/join/6eb8b3f2
Indacoin a fast way to buy Bitcoin Ethereum with debit card
https://indacoin.com/change?discount=42127
BitBay. Exchange BTC and LTC with no verification.
https://affiliate.bitbay.net/98463
Paxful a site to buy sell Bitcoin https://paxful.com/roots/buy-bitcoin?affiliate=RGzYvqwndAL
Follow me on Steemit
http://steemit.com/@champagnecrypto
Books to read:
Digital Gold: Bitcoin and the Inside Story of the Misfits and Millionaires Trying to Reinvent Money
http://amzn.to/2si6AFn
Ethereum: Blockchains, Digital Assets, Smart Contracts, Decentralized Autonomous Organizations
http://amzn.to/2qEUvsT
Bitcoin: What You Need To Know About The Cryptocurrency
http://amzn.to/2rtByfW
Donate Bitcoin (BTC):
1Ef8Dymfdxb9qVfRevqzGQGFCPRr4nFG5r
Donate Ethereum (ETH):
0x3A30BE23b9B2A7c4F59bBBf4B54eF166329c8ddF
Buy the rumor sell the news!
kaBOOM!
Hey man really good video. especially on this bad day.
This helped me as a beginner
Great advice. Stay in school.
damn right true! =D great tips bro! biggest mistake was jumping on the Fomo Train
Day trading, and chasing the pump n dump made me lose some money. I stopped altogether and just hodling and mining with a couple of trade here and there.
Also don't fall for pump n dump groups on telegram like I did. they are a scam and you will lose big time
Thanks for the vid again.
@champagnecrypto I agree with you! I think the biggest mistake someone can make is jumping on board with just an idea without knowing how that idea is going to be executed efficiently. Community and functionality are pretty much essential to long-term success.
HOLD HOLD HOLD !!!
Ignoring the circulating supply I made that mistake as well and too tight stops, made a lot of small losses for nothing.
Thanks for the tips. I will use this advice with my daily reports
I like posting like this. Keep the other new things aside. I will always follow you. And I hope you take the time to visit me too