Entering the crypto world is exciting and full of opportunities, but most beginners make the same mistakes, which can be very costly. Here are the top 5 mistakes you should avoid:
1. Buying because of the hype
Many buy currencies just because they are a 'trend', without understanding the project. Don't invest your money before you understand what you are buying.
2. Ignoring risk management
Entering with all your capital in a single trade is a common mistake. Always use a risk percentage that does not exceed 2%-5% of your portfolio.
3. Selling under emotional pressure
The market is volatile. Don't let fear or greed drive your decisions. Make a plan and stick to it.
4. Using leverage without experience
Trading with leverage can multiply your profits, but it also multiplies your losses, and puts you in conflict with God and His Messenger as it is religiously forbidden.
5. Not continuously learning
Crypto changes rapidly. Allocate time each week to understand technical analysis, learn about new projects, and follow the news.
In summary:
Success in the cryptocurrency market is not only about buying the right coins, but also about avoiding the mistakes that others make.
Start small, learn, and be patient.