Today I’m going over everything I did wrong while investing in Crypto so you can avoid these mistakes. Let’s get into it
1. Not knowing what you invest in
My first mistake when first starting was not having a clear plan I was 18 years old downloaded the CRYPTO.COM app and aped into a few coins that had a cool logo and name. I bought Cardano, Sushi, and ETH.
This was back end of 2019 which was almost at the perfect time if only I knew about the Bitcoin halving and had more common knowledge about the projects I bought but no I aped into them it didn’t go anywhere the first 5 days so I sold them and got new ones.
2. Fear of missing out
Another big mistake I made was buying top gainers because they were going to the moon and I was missing all the gains. This brought me nowhere and 9/10 ended in a loss this goes in line with my next point.
3. Not having a clear plan or goal
When I was buying random coins I never had an actual plan I just bought them and didn’t know when I should sell which led to holding coins for too long and selling them at a loss sometimes even tho they were in profit at some point.
4. Not knowing some basic chart analysis
Because I didn’t know how to read a chart and some basic concepts like support and resistance or trend lines. I never actually knew when to enter or exit a coin once I knew this things got a lot better.
5. Having high expectations
Of course, this was a big part of the start with crypto only knowing the story of how many millionaires Bitcoin made back in 2017. I was delusional and thought I was going to get rich quickly and be financially free when I turn 20. this was at least the thought I had when I was 18.
I turn 20 in a few days and I can tell you one thing I didn’t make as much as I believed I would it doesn’t even come close.
6. being impatient
I wanted to get rich quickly so when I bought something and I didn’t see it 10x the next day I was disappointed. Things take time stick to your plan and have patience.
7. Leverage
Yea this doesn’t need much explanation just don’t this will fuck you up in no time believe me
Conclusion
After these 2 years of growing and learning the ropes. I became way more profitable. I did make a good amount of money in this bull market but I would have made a lot more if I didn’t make the mistakes listed in this list. I hope this was helpful for you and good luck on your journey.
