In the high-risk, high-reward market of cryptocurrencies, one wrong step often comes at a high cost. To this end, two veteran players in the crypto space, @crypto_condom and @DeFiIgnas, shared the painful mistakes they made over the past few years in the crypto field. Chain News will reveal and organize their key strategies for maintaining profits.
Crypto condom: Subjective biases may lead to missed opportunities.
With six years of experience in crypto, Crypto condom publicly revealed the seven major mistakes he made during his journey in the crypto space, including:
I’ve been in crypto for a little over 6 years.
Here’s every painful mistake I made (so you don’t have to): 1. Didn't farm during DeFi summer 2. Sold thousands of $ETH at bottom in panic on March 15th, 2020 during the Covid Collapse 3. Locked my $CRV for 4 years at 90c buy-in cost 4.… https://t.co/kIIl5cjXzL
— CryptoCondom (@crypto_condom) May 1, 2025
Missing out on DeFi Summer mining opportunities.
Panic selling thousands of $ETH at the market bottom during the outbreak in March 2020.
Locking $CRV for four years when the price was $0.9.
$CVX not sold even when it rose to $60.
Ignored meme coins like $TRUMP and $FARTCOIN, thinking they were too silly.
Forgot to sell before Trump's inauguration.
Sold at the bottom of Trump's trade tariffs to preserve capital.
Even though I missed many opportunities, Condom still maintained stable profits through the strategy of 'frequent profit-taking'. He admitted:
If you keep reflecting on the wealth you missed out on, you will soon go crazy.
Ultimately, this rocky road of crypto investment has also brought him a certain level of freedom, medical resources, and a comfortable financial life.
Ignas: Think carefully before making a decision to protect your assets.
With seven years of DeFi research experience, Ignas also honestly shares his list of crypto mistakes, especially reminding investors to avoid the major taboo of 'rushed trading'. The following are the main mistakes he listed:
I’ve been in crypto for a little over 7 years
Here’s every painful mistake I made (so you don’t have to):
• Doing transactions while in a hurry (you’ll get rekt) • HODLing tokens without conviction • Failing to reevaluate my portfolio when market conditions change • Being… https://t.co/2k1wvgnTMV
— Ignas | DeFi (@DefiIgnas) May 1, 2025
Conducting transactions or operations too hastily usually ends poorly.
Have your own beliefs, don't just go with the flow without conviction HODL.
Not reassessing your investment portfolio after market changes.
Being too lazy to research the source of income usually carries risks.
Locking assets for more than a week is almost not worth it in the highly capital efficiency-demanding crypto field.
Investing in highly volatile LPs, even if the APY is high, profits can be eaten away by impermanent loss.
Being greedy and not exiting leads to missing huge profit-taking opportunities in Ordinals, Runes, and NFTs.
Reinvesting immediately after making a profit; it’s better to convert to USDC and take a few days to calm down.
Even after stepping into major traps like locked Luna/UST, he still adheres to three main principles: 'Test new dApps with small amounts of capital', 'Don’t avoid trying new tools out of fear', 'Maintain curiosity and continue learning'. After all, opportunities will continue to arise, and those who can stay in the game longer have a greater chance of winning.
Key to profit: Mistakes are unavoidable, but belief determines success or failure.
Crypto condom and Ignas have each experienced different mistakes, but they both pointed out consistent success factors: 'frequent profit-taking, not afraid to make mistakes, and maintaining an open learning mindset'. These attitudes and strategies are key to their survival and continuous profit in the turbulent crypto world.
Investing has never been a zero-error game, but if you can learn from others' pain, you can save a lot of tuition and avoid many mistakes. Whether you are a newcomer who has not yet entered the market or an OG who has been exploring for many years, the experiences of these two veteran players are invaluable guiding indicators.
In this article, two veteran crypto players reveal the most painful mistakes they made on their crypto journey: you don't have to repeat them. First appeared in Chain News ABMedia.
