Common investing mistakes wey people dey make for this crypto space.

[Joy- maker]

Ehh get some kind investing mistakes wey people dey make for this crypto space and those investing mistakes don redicle many people investment for this crypto space make I list some investing makes wey people dey make for this crypto space.

1, chasing performance, this thing wey i mention so many people dey do an, when them hear say this coin dey do well, them don go carry money put for the coin without doing proper research about the coin which is very wrong now investing mistake be that no go put money for coin wey you no no because say you hear as people dey talk say the coin dey perform well, abeg try do research about the coin to be knowledgeable about the coin before you go carry money put inside.

2, making emotional decisions, this one now the reason why you gas put money for coin wey you trust, because putting money for coin wey you no trust now investing mistake ehh go make you dey make emotional decisions when market fluctuate, so it is very essential to trust the coin wey you dey put money for inside to avoid making emotional decisions,

3, borrowing money to invest in cryptocurrency, borrowing money to invest in any coin, be it bitcoin or what ever now investing mistake be that and many people dey do an for this crypto space which is very wrong, if you no get money to invest for cryptocurrency no borrow money to invest, because ehh no dey end well, cryptocurrencies can fluctuate rapidly and unpredictably, like say tomorrow no dey and no be when you go expect profits now when you go see the profits for this cryptocurrency investment now game of patient and endurance so if you go borrow money and eh come over due either you sell in lost or you owe more dept.

4, lack of financial planning, someone people go just carry money go put for cryptocurrency without a deliberate strategy to manage his or her finances effectively, like investing without creating a budget, without getting a clear financial goals, without saving some to handle emergencies, without managing, if all this things I mentioned aren't attended to now investing mistake, so you gas put them in place to enable you run a smooth investment for long term.

[Joy_learns_crypto]

Any investment mistake way anyone Dey make now shows say the person no Dey actually read or try to learn anything at all.
If you check their are many guardians around to help people avoid those petty silly mistakes way fit damage their investment plan

https://asktom.cf/index.php?topic=5492431.0
This post here also touched on some interesting investments mistakes way I feel say people fit actually learn from am.

[Davidvictorson]

The common mistakes way I see pipo dey make for this crypto space too many.

• say crypto go double your money in 7 days.
• say na only through trading, holding way you fit make money for crypto
• say you must follow one crypto lord to get the latest update
• say without airdrop farming you nor go make am.

E too plenti. I just say make I add these ones ontop wetin the OP don already write. E get plenty pipo wey don learn d hard way becos say them refuse to learn from the mistake wey oda pipo don make.

[Odohu]

The common mistakes way I see pipo dey make for this crypto space too many.

• say crypto go double your money in 7 days.
• say na only through trading, holding way you fit make money for crypto
• say you must follow one crypto lord to get the latest update
• say without airdrop farming you nor go make am.

E too plenti. I just say make I add these ones ontop wetin the OP don already write. E get plenty pipo wey don learn d hard way becos say them refuse to learn from the mistake wey oda pipo don make.

Thank you for the summary wey you give untop this long post, at least you don make am easy for people to understand wetin Joy been dey talk. Me I agree with everything wey you list for there as investment mistake but e get some wey I want make you make am dey clear small because I dey battle with my head to understand am. You say believing say na by trading or holding wey people go take make money for crypto na mistake abi? How this one take be mistake because me I no know of any other sure way of making money from crypto apart from holding. I done try different methods for this crypto including investing during ICO and I end up losing money instead of making money. Some people don try mining, liquidity farming and even staking and end up losing. Abeg clear me for that one make I for learn wetin you know for that area cos na money all of us dey find.

[Ronsbit]

The common mistakes way I see pipo dey make for this crypto space too many.

• say crypto go double your money in 7 days.
• say na only through trading, holding way you fit make money for crypto
• say you must follow one crypto lord to get the latest update
• say without airdrop farming you nor go make am.

E too plenti. I just say make I add these ones ontop wetin the OP don already write. E get plenty pipo wey don learn d hard way becos say them refuse to learn from the mistake wey oda pipo don make.

I'm happy for this summary wey you just do now, at least people go read am and understand am very fast but OP try sha to put up this topic make we for see am. Majority of wetin you write na wetin some people to really think about crypto and as it stands now, people don really fall because of that ideology them get about about crypto wey be the wrong mindset wey dem take begin with crypto. Maybe newbies go understand am better wen dem see this post to know say no be as dem dey think na so crypto be but the understanding matters so as to have a smooth sail in the crypto industry.

[SatoPrincess]

I think one of the common mistakes investors make is investing in something that they do not understand. You have no business investing in crypto if you don’t understand the basic concepts in cryptocurrency. You will likely end up buying shitcoins just because you see others buying or promoting it.

[Ruttoshi]

Personally, I feel say the worst mistake wey people dey make for the cryptospace na to buy coin wey no be bitcoin because you dey gamble with your money think say you dey invest. If you buy bitcoin and see am as a long-term investment, you no go regret say you buy am in future because, your money no go loss since you safe guard your wallet well.

If you also go use money for your basic needs to invest, you go regret am because when you need the money, you must sell in loss if the price of bitcoin dey below your entry point.

[rachael9385]

Two and three are common mistakes a lot of people make most especially beginners. If you have no control over your emotions you can't trade, crypto is highly volatile so how are you going to react when your assets keeps losing value, some people don't wait patiently they just sell their coins out of fear, its better you don't make any investment in cryptocurrency if you are not strong hearted. Borrowing money is unwise and a lot of people do this without even thinking about what happens next if they end up losing the money that doesn't belong to them

[AVE5]

You're right. Many people do actually invests on the respective crypto coins just because of the sudden hearing that the coin is currently performing well at that main time but failed to consider the future performance of the coin.
Most of the Memecoins are jus favorable for short term which means the investors should always keep their eyes up to the market so that they could sell before the price goes down probably quite knowing most of the coins are dust coins just after a pump.
So some beginners or ignorants I'd I may say doesn't care to study the coina potential before investing on it and at their slightest mistake they ends up holding worthless coin.

[DaNNy001]

Number one is a very common mistake and I can relate to it because I did the same thing when I was a beginner...To succeed in cryptocurrency you must give yourself enough time to study and gain knowledge about what you want to put your money into, a lot of newbies just dive into trading without doing proper research because they are desperate to make money...At the end of the day they lose a lot of money and say crypto is a scam..in the process of becoming successful with crypto you must learn before you can start earning from it.

[Gozie51]

2, making emotional decisions, this one now the reason why you gas put money for coin wey you trust, because putting money for coin wey you no trust now investing mistake ehh go make you dey make emotional decisions when market fluctuate, so it is very essential to trust the coin wey you dey put money for inside to avoid making emotional decisions,

This one na really mistake wey many people make and still making because of the hype wey some coins dey get. The unfortunate thing be say most of those hype dey come when the coin don already reach the height level (ATH) and people go begin pump in money not knowing that na cash out time and then whales and developers go sell off their hodlings and you see the coin start to crash in no distant time. This no be magic, because some times anger go set in after you don get such rug pulling experience. Like I remember say e get when this experience dey catch me in the past with coins like Shiba, Tidex etc. Buying at the wrong time because of hype as coin begin to rise but you don't know it is falling time, is really not a good experience and that is because of our emotional attachment and decision not looking at the reality.

Any investment mistake way anyone Dey make now shows say the person no Dey actually read or try to learn anything at all.
If you check their are many guardians around to help people avoid those petty silly mistakes way fit damage their investment plan

https://asktom.cf/index.php?topic=5492431.0
This post here also touched on some interesting investments mistakes way I feel say people fit actually learn from am.

I believe that so long as crypto space is exiting, you have newbies and they will make the mistake in their investment although many materials are available to read despite that, mistake will still happen maybe minimally now because some newbies dey enter this space thinking that it is just about get rich and they will target some shit coins to invest because of the profit that they are aiming for in a short time which doesn't really come as it is planned or expected.

[GiftedMAN]

I think one of the common mistakes investors make is investing in something that they do not understand. You have no business investing in crypto if you don’t understand the basic concepts in cryptocurrency. You will likely end up buying shitcoins just because you see others buying or promoting it.

Tell me why someone will blindly invest in something he doesn't understand if not for greed and stupidity, let's not even use crypto investment as a case study here I think before going into any business the number one requirement after getting the investment capital is to know what to invest in and understand how the investment goes this is the right thing to do in order to prevent losing money in any investment.
Greed and lack of proper knowledge of something to invest in is the major reason why a lot of people go into cryptocurrency investment without having knowledge and at the end they end up losing money because of the wrong investment they got involved in. Crypto investment is profitable it also send people to back to square one if they lose money as a result of misinformation and lack of proper knowledge.

[Joy- maker]

Personally, I feel say the worst mistake wey people dey make for the cryptospace na to buy coin wey no be bitcoin because you dey gamble with your money think say you dey invest. If you buy bitcoin and see am as a long-term investment, you no go regret say you buy am in future because, your money no go loss since you safe guard your wallet well.

I think you are making a point here, buying a coin that is not bitcoin is investing mistake, because the only coin In the  crypto space that is a store of value with potential returns is only bitcoin, the rest of the coins has nothing to offer unless you want to gambling with your money by buying shitcoins in the crypto space.

If you also go use money for your basic needs to invest, you go regret am because when you need the money, you must sell in loss if the price of bitcoin dey below your entry point.

exactly anyone who use his or her money for basic needs to invest in crypto space is making a very big mistake and it will not be funny for that person because the person must sell lost because it is investing mistake, only invest with your discretionary after you must have settled your basic needs and expenses.

[Mekie21]

You really highlight most of the mistake most of the newbies wey dey come into crypto space dey experience, not just newbies sha.  As long as one of their friend don tell them say them make am from this or that coin, them just dey go straigh go dump money for the coin and when e come go against their expectations, Dem go end up regretting…. When I first start this crypto stuff I been think say na quick money avenue buh with time I come Dey learn gradually. I come get to understand say for the crypto space say you dey pay for your mistake with Dollar. Now I Dey sacrifice my time to learn about any investment wey I think say get potential and I fit invest my money on… This your highlight make sense.

[Ronsbit]

You really highlight most of the mistake most of the newbies wey dey come into crypto space dey experience, not just newbies sha.  As long as one of their friend don tell them say them make am from this or that coin, them just dey go straigh go dump money for the coin and when e come go against their expectations, Dem go end up regretting…. When I first start this crypto stuff I been think say na quick money avenue buh with time I come Dey learn gradually. I come get to understand say for the crypto space say you dey pay for your mistake with Dollar. Now I Dey sacrifice my time to learn about any investment wey I think say get potential and I fit invest my money on… This your highlight make sense.

You see, this crypto investment just be like person wey buy shares for company and e dey take time before the shares go grow strong depending on the capacity and value of the company wey you buy the shares from na so crypto be. No be quick quick something, e go take time before e go mature so that you goo take better profit from your investment and e too good make you get patience because na only when you dey patient with the process naim you go benefit am otherwise you no go fit hold on and na this patience wey make people don enter scammers because of quick profit wey dey unrealistic.

[Rgram]

Any investment mistake way anyone Dey make now shows say the person no Dey actually read or try to learn anything at all.
If you check their are many guardians around to help people avoid those petty silly mistakes way fit damage their investment plan

https://asktom.cf/index.php?topic=5492431.0
This post here also touched on some interesting investments mistakes way I feel say people fit actually learn from am.

Yes very true, if you make the wrong investment at this moment then it’s your fault.
But wetin I wan ask be say..
What about the elderly people working round the clock wey for like invest in crypto but no get much time off work to take so proper findings..?

[Rgram]

The common mistakes way I see pipo dey make for this crypto space too many.

• say crypto go double your money in 7 days.
• say na only through trading, holding way you fit make money for crypto
• say you must follow one crypto lord to get the latest update
• say without airdrop farming you nor go make am.

E too plenti. I just say make I add these ones ontop wetin the OP don already write. E get plenty pipo wey don learn d hard way becos say them refuse to learn from the mistake wey oda pipo don make.

I no go lie. Even up till now when I read most people comments I dey always see those following this person and that for growth with at some extent it’s necessary but it no mean say your progress via your portfolio go just flip 100% simply because someone told you it’ll..
But then doing findings means asking people questions and doing personal data research as well..
And for me holders & traders too Deh make na just say make you no Deh over zealous come go Deh risk pass wetin you suppose or invest everything you get inside as well..

[CryptopreneurBrainboss]

Ehh get some kind investing mistakes wey people dey make for this crypto space and those investing mistakes don redicle many people investment for this crypto space make I list some investing makes wey people dey make for this crypto space.

The mistakes involve this things, first them no dey educated or informed, next them dey too greedy and not contented with what they have na wetin they bring the mistakes. I no want go into details of each of the mistakes but I dey give the reason why the mistake them they come. An inform investors won't be the type that doesn't have plans for his investment to know when to enter the market or when to exist. All this are supposed to be planned already before you start buying and then the dates can be extended depending on how you read and understand the market. Mistakes are always going to happen but make we try they learn from am irrespective of the mistakes being firm us or others because e no make sense say person dey repeat the same mistake well well.

[SuperBitMan]

All this things way you talk like this they correct and na them be the mistakes way we dey make when we they invest for cryptocurrency and some people done use because of this mistakes way you mention here take leave crypto and now some of them dey call crypto scam and them no dey gree talk about anything way concern cryptocurrency but if them been calm down follow am small small ask questions them for no make those mistakes way dey make them they hate cryptocurrency now the reason why some people make this mistakes na because them just hear say one person done cash out big through crypto them no even ask questions them just start to run am immediately.
The one way they vex me pass na say some people they go borrow money just to use am invest for cryptocurrency e get person way I know way still dey on debt till now because of say en go borrow money to buy one coin like that way be say the coin later fall and till today en never rise, so abeg you see this one way be to borrow money for crypto investment make we dey try avoid to make this kind mistake.

[Rruchi man]

~

One mistake that I know many new interested persons in cryptocurrency can make is the mistake of overtrusting, that is, trusting their family or friend who may have told them about cryptocurrency.

Anybody introducing you to cryptocurrency with the proper intention will always try to let you know that it is something that you must learn to do on your own, with a specific kind of guidance to avoid making mistakes.

If they are teaching you or introducing you to cryptocurrency and then trying to make you dependent on them so that they even want to help you set up your wallets or any other thing that you should be doing on your own, then clearly their intentions are not good.