5 Reasons people fail in Cryptourrencies and their Solutions
Hey Guys This is Ayush and today I am gonna tell you about why people fail in crypto investment and how to overcome it , youll be shocked to know more than 90% fail in Cryptos and either they sell it too early or they never sell it till it goes down to loss, or just invest in shitcoins that gives a one day . So lets talk about the reasons people fail in cryptos.
No Professional help or guidance
Heard the hype of Bitcoins,Ripple??Omg!!!! All blog posts and news posts are talking about it , so much money made by that guy in Norway , called your friend up or Googled and bought 1000$ of BTC ............. I thats your story you gonna soon end up like this
If investing in Cryptos better read somethings about them , things like what the project is about , will it be sustainable , watch some course on Dtube , Youtube , Udemy . Consult your known friends about the market , then before diving in
Cryptomarket is like a swimming pool if you just dive in seeing just because you see everyone out there is enjoying you are probably doing it wrong and will be drowned soon , So learn to swim before you dive
No Strategies
Probably the one the blunders people do is dive in straight away without a strategy , you dont know what to buy when to buy and just buy because your friend is doing so , thatll be the one of the biggest harm you will be doing to your money .
Make sure you give a proper thought before investing In a coin . Join some telegram, slack group of these currencies to get a better overview(BEWARE OF FANBOYS THERE)
No Money management
If you are entering the cryptocurrency market just because the your money will get multiplied n times , then please dont, For that youll have to put money right money at right places
Following are the tips you can follow to make sure you are going right path
1.Diversify your portfolio - Never Ever Ever put your money in a single coin itll be as good as putting whole money on fire
2.Dont Invest immediately - Take breaks you dont have to put all your money in one go , buy the dip and sell the rise
3.Buy the sort term and long term - Some coins like TRONN, Verge , Stellar are long term go keep preserving them , but you need to invest short term to buy when they are low , so you can multiply them
4.Buy when everyone else is selling - Something that'll make you rich in cryptos as well as in life doing thing different from others ,
"I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful."
Warren Buffet
Chasing the market
Never ever go for the hype , you'll be shocked to about 95% failures in any investment happen cause of chasing the hype of the market , be intelligent enough to make your own choices , cause till the time the hype of raise reached it might have reached millions other like you and you'll probably miss out
Listening to the brokers advice
Listening to brokers advice has benefited no one but the greedy broker himself . Had the piece was really good investment he would've bought it himself than selling it you
Thats all for today , I shall be talking more and more of cryptocurrencies in my future post do upvote if you like my post and folllow more for such content
Really nice post :)
Thanks
Nice and informative post. I'am a forex trader before, and true , sometimes trader don't know what they doing.
Very True
the most talked about article here on steemit hehe thanks for this very informative article.. thanks for sharing! 😉
Nice information :)
yep i am trying to do all of this .. thank you every bit of encouragement really helps.
Hailo! Nice post
Very good and informative. But I guess the main issue is the point you made, which is NO IDEA.
People just want to make money even when they don't really know the abc of what they are getting into. Little wonder why some people fail and some still make it. Thanks for this lovely post
Thanks , and yeah nothing can be earned on the basis of mere greed , the foundation to any investment is knowledge which people fail to attain
All do respect I was never a big fan of the suggestion posts about cryptocurrency. With crypto there's no right or wrong answer imo. The price can be a million one hour and 2 cents the next. Think of crypto like going to the casino, if you can afford to lose it then have fun. If not, don't gamble. Still a nice post though, thanks for sharing.
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