❌ Common mistakes when investing in cryptocurrencies (and how to avoid them)

If you're new to the crypto world, it's easy to make mistakes. Here are 5 of the most common ones and how to avoid them:

1. Not doing your own research (DYOR)

Mistake: Investing solely based on what others say.

Tip: Do your own research. Read about the project, its team, and its roadmap before investing.

2. Getting carried away by FOMO

Mistake: Buying just because the crypto is going up.

Tip: Set an entry and exit strategy. Patience is key.

3. Not setting a stop loss

Mistake: Not protecting your investment with a stop loss.

Tip: Always use a stop loss to limit your losses if the market goes against you.

4. Not diversifying the portfolio

Mistake: Investing everything in a single crypto.

Tip: Diversify your portfolio to reduce risks.

5. Not having a long-term strategy

Mistake: Focusing only on the short term.

Tip: Have a long-term vision. Cryptos are volatile, but the future outlook is promising.

💡 Summary:

DYOR: Do your own research.

Avoid FOMO: Have a clear plan.

Stop loss: Protect your investment.

Diversify: Don't put everything in a single crypto.

Plan for the long term: Think about the future.

📢 Have you made any of these mistakes? Tell me which one was the hardest to avoid.

I’ll read you in the comments 👇