Biggest Mistake People Make When Buying Crypto!

josediccus 3 years ago

Hahaha I made this mistake, buying what I felt was cheaper, hoping it'll eventually bring more money. Actually I feel sometimes these are inevitable newbie mistakes, it makes for the whole learning experience overtime.

4 votes

khaleelkazi 3 years ago

It’s pretty crazy to see how many people fall victim to it. I know I have in the past!

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0.11 VYB

josediccus 3 years ago

Well, it's part of the experience though. Almost everyone falls victim to this, overtime we've come to see that crypto don't work that way.

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trostnandia.pob 3 years ago

Yes indeed boss and we can't really blame because everybody are investing because of making profits and when it turned around we need to calm for the time it will pump up and gain the profits back. Thanks for your ideas on crypto investment

2.16 VYB

2 votes

senorcoconut 3 years ago

Made that mistake for sure!!!! I must look into market cap from now on. I still have to understand it all though.

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firstborn.pob 3 years ago

Biggest Mistake People Make When Buying Crypto!.

Most time they do panic buying and even get used base on lack of information gotten on a particular Token

anarchistpreneur 3 years ago

Yes, panic buying during a huge pump, and then panic selling once it crashes (aka "buying high and selling low") is also extremely common. It is INCREDIBLE to think that even with the massive gains in crypto so many millions of people actually end up LOSING money due to terrible decisions and having zero mental discipline.

Look at DOGEcoin millionaire...dude went from $3.6 million to now like $500k, and $250k of that was a loan, so its actually less than $250k after fees and interest payments. This is what happens to people who dont bother to learn!

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khaleelkazi 3 years ago

DYOR - not just a regulatory saying but a real thing people ought to do!

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acesontop 3 years ago

Been there, done that. Still regret selling over half a million DOGE for less than $1,000 just three years ago.

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5 votes

khaleelkazi 3 years ago

I hear that! When you’re in crypto for this long, you’re bound to have some kind of war story

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anarchistpreneur 3 years ago

Do not regret it my friend, DOGE just got lucky and basically won the lottery in luck, and a bunch of kids on TikTok made it a lame fad for a while. It has always been a bad investment, and you were right to sell it, your decision was correct.

Poker players often tell each other a wise saying: "dont be results oriented". It means that you shouldnt beat yourself up over taking a loss after making a correct decision. If there was a decision that you knew would make you win money 99% of the time and you went ahead and did it, but you just ended up having some bad luck and that time happened to be the 1% of the time that you lose, it doesnt mean it was the wrong decision just because you happened to lose that one time...it was still the correct move regardless.

Hope that makes sense.

Cheers

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lordemmy 3 years ago

One thing I get to know well enough about buying token or coin at all times is that it is very important that you understand how things run or work before going ahead to invest on any token,at times people buy base on the level of market run as at that period and on most occasions such people ends up being on the loosing end

khaleelkazi 3 years ago

Smart money > dumb money. Every single time!

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shortsegments 3 years ago

Nice video, there are many small tips like that you could illustrate on small tik tok videos, which would benefit people just coming into the space. This is a good idea.

I also agree that there is a scarcity of accurate information in traditional media circles. To their credit there are job openings now in these legacy markets, so hopefully some people from Leofinance will try to fill them. This would probably improve the accuracy and quality of the information there. Which is important because they still have large audiences.

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6 votes

emma001 3 years ago

Having learnt from certain mistakes in the time past, I ensure not to follow the crowd but do due diligence on a project before getting in. Many see crypto as a get rich quick scheme and end up getting rekt.

anarchistpreneur 3 years ago

This is SO true! Very very common mistake. I see newbies calling these so called "cheap" coins all the time. The dollar value does not matter: $100 still buys $100 worth of assets, regardless if the coin costs $100000 or $0.0000001. That is why meme coins always made a huge supply of coins, so that they can deceive naive newcomers that do not know any better, and trick them into buying their worthless coin of a dog pooping, rather than a real project that actually has a future such as the one you featured here, LUNA.

Please share this video far and wide guys!

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jersteemit 3 years ago

Indeed many fail to do proper research before jumping into certain projects. Following the hype isn't always a good thing. I make time to do proper study and understand a project before putting my fund into it

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5 votes

emeka4 3 years ago

We can't actually blame anyone investing in time like that because the aim is to make profit when investing but I really appreciate your idea on dodgecoin and Luna.

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khaleelkazi 3 years ago

Everyone is chasing profits at the end of the day. I hope more people take the time to step back and get educated before they just run out and buy the cheapest coins thinking that’s where the biggest profit is

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rtonline 3 years ago

The information and examples you gave about Doge and Luna are quite on point. First of all, we need to educate ourselves well in order not to make mistakes while buying crypto. Investing in these days may be more profitable for the future, but we need to determine our criteria well. That's why we need to do good research and take the time to educate ourselves. Otherwise, there is a lot of misinformation around. This is true not only for cryptos, but for all assets.

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4 votes

khaleelkazi 3 years ago

Misinformation is everywhere. We’ve been pushing leofinance on Tik tok with our new head of growth and her market analysis on famous crypto Tik tokers made me realize just how uninformed some are. Time to bring real crypto education to web2 and drive them to Hive and Leo on web3

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2 votes

rtonline 3 years ago

This is really awesome. You are doing a great job. This will be of great help to many inexperienced investors and will accelerate the adoption of Hive and Leo. Thanks.

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gangstalking 3 years ago

The people doing V2K want me to believe it is this lady @battleaxe Investigate what she has been up to for 5 years. Its the next step to stopping this. Make her prove where she has been for 5 years or where she is now. She is involved deeply with @fyrstikken and his group. Her discord is Battleaxe#1003. I cant say she is the one directly doing the v2k. Make her prove it. They have tried to kill me and are still trying to kill me. I bet nobody does anything at all. Make @battleaxe prove it. I bet she wont. They want me to believe the v2k in me is being broadcasted from her location. @battleaxe what is your location? https://ecency.com/fyrstikken/@fairandbalanced/i-am-the-only-motherfucker-on-the-internet-pointing-to-a-direct-source-for-voice-to-skull-electronic-terrorism

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