Mistakes you made as a newbie?

[Henrywrites]

Before one gets better at trading crypto coins, there are possibilities of making a lot of mistakes, losing money and regretting at the end of the day. One of the mistakes that I made when I began was not making enough research before investing on a particular coin and that really affected the way that I traded. Also, buying the top taught me a valuable lesson of not to be greedy when the market is green. What was yours?

 

[Riberet19]

Some of the mistakes I made were, investing more money than I should have, investing in some cryptocurrencies without having studied them in depth, putting more money than I should in staking, using wallets of dubious trust, getting started in cryptocurrency trading with hardly any knowledge...

 

[Dismal_Bliss]

I've invested in Bitcoin and Ethereum only because I heard those names being tossed around a lot. This was years ago and I am still holding and i have made some money on them.

I reacted the same way to Dogecoin and it turned out to be a mistake. As soon as I got on board, it's value dropped by 70-80%. I don't expect it to ever climb back up to where it was when I bought it.

 

[Grant]

My first mistake as a newbie was investing through PayPal. I paid $20 for three currencies, one was Bitcoin and the two others were Litecoin and something else I forget. Well I didn't make anything, out of the small $60 I invested, I got like less than $20 back. So I haven't bothered with crypto since really.

 

[Dismal_Bliss]

Well I didn't make anything, out of the small $60 I invested, I got like less than $20 back.

This is similar to me.

I invested $100 in Bitcoin. It's worth about $393 now.
I invested $100 in Ethereum. It's worth $73 now.
I invested $100 in Dogecoin. It's worth $18 now.

So having invested $300, I am sitting at $484. Meh!

Only invest in crypto if you have money to burn, lol.

 

[Nomad]

In 2017, I was working as a content writer for a casino forum. I was making around $15 every by reviewing and testing various casinos. The owner asked me whether I want to get paid with Ethereum or paypal and I asked for paypal fund. Back then EThereum was $8. What if I had asked for Ethereum payment and continued to hold until today?