Mistakes that make people poor in crypto

[WhiskeyHoney]

I used to see crypto as a way to gain money quickly. It may actually be so sometimes, if you're extremely lucky, but I lost quite a lot back then

[Sue]

Keep the cool mentality in this market is very important. I used to judge the wrong time to sell a token, and it took a lot of time afterwards to make up for that mistake 

[SonyChristopher]

Impatience is one of the trending factors that lead to losses in crypto. Due to impatience, many crypto investors sell their valuable coins at cheap prices and regret later when the market rises. It is always good to stay calm and wait patiently especially when the market goes down.

Well, there are times when a trader experiences panic, when prices fall they sell most of their coins without waiting for prices to rise again. Though prices are down is common in the trading world. But usually it's only by beginners and newbie. To take advantage, We should sell coins waiting for the price of coins to go up, and buy when prices go down.

[Cryp_keen]

The most common and basic mistakes are lack of adequate knowledge and hasty decision. People think that investing in crypto is simple way to become rich, nothing could be further from the truth. Ignorance of market's operating principle, price movements and desire to gain some passive brought together make people poor. Crypto are so difficult stuff, not everyone should get into it

Yes, having good knowledge is must. But something I would like to add is that even if people have knowledge and skills, they give in to emotions like greed and fear. Many experienced traders also do that and that is the biggest mistake according to me.

[Mila]

Mistakes only trading or others can be? Greed and fear is a trading topic. At the wrong time, I bought or sold traders as well.

[Altcoin1998$]

Yes some mistakes make people homeless, carless, and lastly relatives less... His wife's also breakup his relationship.

[zombieroadie]

I'm on the market since not long ago but I already understand that if you don't have patience, better not to invest. I have moments when I feel like giving up but I cut them off

[mlawson71]

Mistakes and lack of discipline lead to losses in any kind of trading, cryptos are no different.

[aartstalk]

mistake of entering without knowledge of what they are getting into. mistake of listening to your heart instead of your head. mistake of firing blank shots at the bear (if you know what i mean). all these lead to making people poor in crypto's

[jekanbedui]

The only mistake i make is to make a trading on telegram and i lost a lot of my saving to scammer.  Bad day for me and it was a reminded for me to not trust anyone without an escrow anymore.

[dogeatehomework333]

It’s better to learn from the mistakes of others, and over time there will be no problems.

[bright4mech]

Cryptocurrency is a universal currency that is acceptable across the global, and many Alt-coin are created base on their difference products. Therefore, some mistake  investors made is a function of impatient, while sells at low price.

[alexkamillakroy]

Think we all agree, that 1) overconfidence (entering the market while being barely informed) 2) fear (panic to lose all when prices fall, urge to sell ones you have for lower price to lose less) have a lot to do with this & need to be considered when starting 

[Uina]

Awareness is really the key when it comes to investments. Crypto is not something where you can get instant money whenever you want. If you want to earn instantly you need to practice trading but it isn't something that one could do and earn just by buying and selling. You need to consider the market, the graphs and etc in trading.
If you're still in baby steps when it comes to cryptocurrency, it is better to just read everyone's experience and learn from it before investing. Don't let greediness overwhelm you.

[Klu]

People start trading without enough knowledge and in a rush and want to gain big amount of money in a short time