Newcomers to the crypto world often make costly errors. One major mistake is:
Lack of Research: Investing without understanding the project, its tokenomics, or market trends.
Emotional Decisions: Acting impulsively based on fear, greed, or the fear of missing out (FOMO)
Poor Risk Management: Not using stop-loss orders, failing to diversify, and not managing risk properly.
Falling for Scams: Not verifying the legitimacy of projects, teams, and exchanges, which can lead to losses from phishing, Ponzi schemes, or fraudulent ICOs.
Neglecting Updates: Missing out on market news, updates, and regulatory changes, resulting in missed opportunities or unexpected losses.
Overinvesting: Committing too much capital to a single asset or investment, risking significant losses if it fails.
Lack of Strategy: Not setting clear investment goals, risk tolerance, or plans for entering and exiting trades.
