What are the Common Mistakes of Bitcoin Investors?

[HayKay]

The biggest mistake I've seen Bitcoin investors make is wanting to make a profit immediately they invest in the coin. They're no longer concerned about its sustainability or intended use. Everyone thinks it's a quick money maker.

 

[Chibson]

Considering the fact that Bitcoin is one of the best and highest crypto currency with value, I think it is always advisable to buy it at a good time when the rate of the coin drops, one can invest on it.

Sometimes you can buy when the price of Bitcoin drops and it will continue to drop over and over again. Around January there are a lot of people who invested at the price of 38,000 dollars but today the price is around 16,000 dollars.

 

[Agbalagbaa]

The biggest mistake you can make as a Bitcoin investor is buying at the wrong time, if you bought at the wrong time you are going to lose a lot of money.

 

[AruneBend]

One mistake is overreaction when the price goes down. This forces them to sell their coins early to avoid a loss. Another one is lack of knowledge. If you don't know much , you wil be found wanting. Fear is also part. Using bad WiFi can affect transactions and lead to late speculations.

there are a lot of mistakes they make they often have high expectations because they probably saw many peaole getting rich by crypto also they don't properly learn about investing

 

[Chibson]

there are a lot of mistakes they make they often have high expectations because they probably saw many peaole getting rich by crypto also they don't properly learn about investing

I have no problem with people who have high expectations whenever they invest in cryptocurrency because it is their money. I think the expectation should be some kind of realistic coupled with a lot of research and patience.

 

[Lynaia]

I don't think people that you're calling bitcoin investors at truly bitcoin investors. Bitcoin investors don't easily get intimidated to sell their coin because bit coin drop in value

 

[eenya00]

some of these investors do not have the knowledge concerning bitcoin, what they only do is just to put there money on it thinking or hoping to make profit on the long run, which does not always work like that.

 

[Mighty]

Well for me I think the biggest mistake is the mistake of blindly investing without seeking advice from people that are experienced in such endeavor

 

[Syldan]

One of the most common mistakes in bitcoin investment is based on individual intellectual and his ability to know when and how to start investing. knowledge is what most of the bitcoin investors are missing.

 

[Chibson]

one of the major mistakes a lot of people make while investing in Bitcoin is that they always chase pumps. Whenever the price is pumping they will start buying and when it is going down they will start selling.

 

[LaptopCoreI7]

Not fully understanding the market and just following the crowd. You have to research the liabilities and risk before venturing into anything

 

[Bbwoy95]

One mistake is overreaction when the price goes down. This forces them to sell their coins early to avoid a loss. Another one is lack of knowledge. If you don't know much , you wil be found wanting. Fear is also part. Using bad WiFi can affect transactions and lead to late speculations.

1. Lack of Basic Crypto Knowledge ·
2. Ignoring Fees ·
3. Short-term Thinking
4. No proper planning before investing
5. Not choosing the right crypto exchange platform

 

[Chibson]

1. Lack of Basic Crypto Knowledge ·
2. Ignoring Fees ·
3. Short-term Thinking
4. No proper planning before investing
5. Not choosing the right crypto exchange platform

you are probably very correct on this. These are some of the things newbies must put into consideration before they venture into cryptocurrency if not the end up regretting.

 

[Bbwoy95]

you are probably very correct on this. These are some of the things newbies must put into consideration before they venture into cryptocurrency if not the end up regretting.

Especially the first point. You cannot make any REASONABLE BENEFITS out of any CRYPTOCURRENCY PLATFORM without knowing how it actually work.

 

[Emmy]

Common mistake of Bitcoin investors is inability to read the market and inability to forecast Bitcoin nature. They need to go online and do more research about how it's been structured and make billions like those as mentors.

 

[Syldan]

Personally I think one of the common mistakes alot of bitcoin investors do mostly do is, going into investment without knowledge on how and when to invest and that makes them fail.

 

[Bizil Polo]

Yes, selling off their coins as the price drops is one of the mistakes that bitcoin investors make. To my utmost surprise, I once witnessed someone selling off their bitcoin while simultaneously acknowledging that they had lost money. Why sell when you've already lost money?

 

[eenya00]

you can not call those set of people investors, i believe the world investor have been bastardized. investors are calculative and are investing on something that they know or have great knowledge about.

 

[Chibson]

Especially the first point. You cannot make any REASONABLE BENEFITS out of any CRYPTOCURRENCY PLATFORM without knowing how it actually work.

Probably, anybody who is investing in cryptocurrency with a proper knowledge of how it works is actually gambler. You may get lucky and make money but on the long run you can lose everything.

 

[GIFTMICHAEL]

Without knowledge you can't invest better because Bitcoin investment is always with knowledge information and patient but a lot of people don't know about it and become impatient to get high profit in no time and that leads to failure.