5 rookie mistakes that cost me in crypto and how to avoid them.
Information for educational purposes. This does not represent a financial guide.
When I started in crypto, I made mistakes that cost me money and, above all, peace of mind. Here I share the most common ones so you don't stumble over the same stones:
1. Buying at the top due to FOMO
I saw a coin rising and thought, "It's going to keep going up!" I bought at the peak and, shortly after, the price plummeted. I learned that you need to research and not get carried away by emotion.
2. Selling in panic during a drop
A 10% drop scared me and I sold at a loss. Then, the market would recover. Now I know that corrections are normal and patience is required.
3. Not having a clear strategy
I was investing without a plan: no entry or exit objectives. This led me to impulsive decisions. Today, I make every investment with a defined strategy.
4. Ignoring security
I left my assets on exchanges without enabling two-factor authentication. One day, I almost lost everything due to a hacking attempt. Security is fundamental.
5. Following advice without researching
I bought coins because someone on social media said they were "the next big thing." I lost money for not doing my own research. Now, I always analyze before investing.
Conclusion:
We all make mistakes when starting out, but the important thing is to learn from them. Education and patience are your best allies in the crypto world.
Have you made any of these mistakes?
What did you learn?
Share your experience in the comments!