Here are the top mistakes I've made in cryptocurrency so you can avoid them yourself:
1 FOMO: Don't make impulsive decisions based on fear of missing out. This will almost always result in you losing money.
Invest when you see a project with strong fundamentals, WHEN you see it. Not even a few days have passed since you disappeared and everyone is celebrating their victories.
2 Lack of Research: Always use DYOR before investing in a project.
This is common knowledge, but most people still blindly buy coins just because someone says buy them or they are hyped. Check the schedule, check the audits, check the website and social media pages. Trust me, your portfolio will thank you.
3 Poor Security: Keep your cryptocurrency safe with strong passwords and 2FA.
It's always other people, as long as it's not you. When you have MetaMask open, be careful not to click on unknown links. Always triple check URLs and be extremely wary of anyone trying to "help" you, especially if they want things like screenshots or any personal information.
4. Overtrading: Stick to strategy and avoid emotional decisions.
Trying to stick your fingers into too many baskets won't do you any good. Many things will happen during a bullish move, don't trade on emotions, make a plan and ALWAYS stick to it. People usually make the most money when they buy and hold stocks rather than chasing every dip and top.
5 Ignoring market trends. Stay up to date with the latest news and trends to make informed decisions.
Don't try to go short in a bull market. It's simple. Following these steps should help you avoid the most common mistakes during a bull market.
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