Never Do These 5 Things If You Trade Cryptocurrency
1. Don’t Invest Emotionally: Avoid FOMO (Fear of Missing Out) buying during pumps or panic selling during dips. Emotional decisions often lead to losses.
2. Don’t Overleverage: Excessive use of margin/leverage can amplify losses. Beginners should avoid leveraged trading until they understand the risks.
3. Don’t Ignore Security: Refrain from using weak passwords, storing crypto on exchanges long-term, or clicking suspicious links. Beware of phishing scams and fake platforms.
4. Don’t Chase Hype: Avoid investing based on social media rumors, celebrity endorsements, or unverified "moon shots." Verify claims independently.
5. Don’t Neglect Taxes/Regulations: Keep track of transactions for tax reporting. Ignoring legal obligations can lead to penalties or audits.
