Here Are 3 Cryptop Investment Mistakes You Should Avoid In 2021

[Niftyyem]

You are so right in all you have pointed out. I think that there is a lot of room to make money in the crypto space but with all you have mentioned taken note of. Importantly, be sure of the coins you pick to invest in by doing your robust research on them first.

 

[Mostee501]

Wonderful tips to highlighten the public, especially the aspects of leaving emotions aside when it comes to investment because failure can come through emotions.

 

[Nicklas22]

Thanks you so much for the knowledge
Yes you have to have a proper knowledge and understanding of something before investing in it

 

[Nomad]

The best advice that I can give to anyone is look at the top performers and invest in the crypto currencies. Do not invest for short term profits, invest for at least 2-3 years

 

[Hopey]

Thanks for the enlightenment. I have not come across those acronyms before and of a truth they are really helpful. To be successful in crypto trading one need to control emotions first

 

[Victor001]

From your last point knowledge is power,rather than invest in forex, invest in knowledge, have a good mentor,spend more time mastering a given techniques, don't expect to win always.

 

[Sotherefore]

I am a cryptocurrency trader and there are some of the mistakes I understand in the cryptosystem that i will never dream of repeating it in my life and example of one of them is for me to invest in a shit coin with no potential value and expect it to give me a reasonable amount of money.

 

[Shigobad2020]

Lack of attention of calculating the mathematical aspect of the increament and decreament of crypto currency, and dont allow your emotion to judge when investing in crypto currency, because you might like bitcoin and it might not be doing well at the moment.

 

[Heatman]

All these mistakes that people used to make when it comes to cryptocurrency that I've been mentioned here and quite true and the one that I find most interesting is the part of selling your cryptocurrency because there is a dip in the prices of the cryptocurrency.

 

[Setfragil]

You gave a detailed information and your points are valid. The mistakes I will advice everyone to avoid is greed. If we can do away from greed which makes us to over invest when it is not the right time.

 

[Heatman]

The information provided here is going to be very useful for a lot of people who are actually new to the world of cryptocurrency and forex trading so it's better that they take it very seriously.

 

[Sotherefore]

I have my personal cryptocurrency I am considering on investing for a period of long-term and any kind of cryptocurrency you consider for a period of long terms you need to do a thorough research about it to confirm that the coin is a very good one.

 

[nimzy]

Well to say you gave out a good tips on the kind of common mistake an individual should try to avoid while dealing with cryptocurrency business in which knowledge requirements is very essential and necessary because without the knowledge for a particular think it is very difficult to coup up with the terms a d conditions attached to it.

 

[Heatman]

Well I actually took this information that you made here and sent it to one of my friend who is still planning to invest in cryptocurrency and he was actually very appreciative of the information.

 

[tyrim88]

The 2020 pandemic has caused a lot of uncertainty and financial turmoil and many are very optimistic and hopeful that 2021 will be a better year, and hoping that things will go back to normal. However, despite the global financial meltdown caused by the pandemic, the cryptocurrency sector led by Bitcoin has been able to keep up with the dwindling economy and surprisedly went higher this year. Here we are in 2021, hoping for better and more successful investment. So l will point out the mistakes to avoid when investing cryptocurrencies.

1. Lack of Attention To The Math

When investing in anything in life, alway keep your eyes on the prize. With the way Bitcoin is rising in 2021, you need to pay attention on the profit potential. Because paying attention to the numbers will make you know when you are indeed making a profit.

1. Allowing Your Emotions to Make Crypto Investment Decisions

HODL, FOMO, and FUD are familiar acronyms you will encounter in crypto investing. Each of these represents some kind of strategy and are also emotion-driven at the same time, which should not influence your investment decisions.

GODLY means to hold on to your investment no matter how volatile the market is.
FOMO or Fear of Missing Out means buying on the hype because you just want to follow the trend.
FUD stands for Fear, Uncertainty, and Doubt. It can stop you from investing in crypto even if the research stats or market sentiments are telling you that it’s a good time to invest

1. Investing Without The basic Knowledge

Whatever it is in life that you want to venture into, you must remember to educate yourself and understand what exactly you are getting yourself into. I advise that before you invest a single cent, you have to allocate some time in learning about the basics of crypto investing. Crypto investment remains unpredictable and risky and if you do not gain the education about the system, you will end up losing money at the end

The points you gave are very on track.The act of getting adequate knowledge is very vital and important,because it is with this knowledge that you'll be able to properly understand the market fluctuations and dynamics.

 

[Heatman]

I have my personal cryptocurrency I am considering on investing for a period of long-term and any kind of cryptocurrency you consider for a period of long terms you need to do a thorough research about it to confirm that the coin is a very good one.

As far as I'm concerned, most good cryptocurrencies like Ethereum, BNB, Litecoin are all good cryptocurrenco that you can actually invest your money on.

 

[Sotherefore]

As far as I'm concerned, most good cryptocurrencies like Ethereum, BNB, Litecoin are all good cryptocurrenco that you can actually invest your money on.

As far as I'm concerned, most good cryptocurrencies like Ethereum, BNB, Litecoin are all good cryptocurrenco that you can actually invest your money on.

The binance smart chain is the best cryptocurrency for me, I do not like ethereum and litecoins because of their slow nature and growth ,what do you have to say about ripple ? Is it a nice cryptocurrency ?

 

[Nurudeen]

I agree with you entirely. As far as am concerned it's very important to know the basic knowledge of crypto currency exchange Business before going into the business. Another one is never to be carried away and always take profit

 

[Yusuf]

The best knowledge one should have in crypto currency exchange Business is that one most know how to take profit. If one knows how to take profit it will really help the person in the journey of ghe Business

 

[Senator]

Using your emotions or letting your emotions have the better part of you in the course of your cryptocurrency decision journey will ruin your chances of making good money in it