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What mistakes have you learned when you invested in cryptocurrencies ?
$0.46
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I learned quite something from investing in cryptocurrencies. The first thing that I learned is to not invest in what others do unless I am perfectly comfortable with that and feel like it is a good investment. 

The next important thing that I learned is that when hype is at its max and everybody is mooning I should sell because that's what smart money do. I for example both cryptocurrencies when the hype was huge and burned myself hard.

Another thing that I learned is to take profits when I am comfortable with them and not to be too greedy because greed will only make me loose money. I had quite a few situations in which I haven't sold even at 3X because I thought that coin will do more but it didn't. The current market situation was not proper for that much pump.

One very important lesson that I learned recently was to have patience. I had some Dogecoin from the time it was about 30 satoshis and a few weeks ago it had a good pump but as soon as it got to over 10-20 satoshis I sold all of the coins just to realize that in a few days it got to 150. Patience pays for the ones mastering it.

I also learned that I shouldn't be attached to cryptos and that there are always good deals. If you really believe in one crypto hold it, but if you see that it is not worth anymore and that there are competitors with greater chances to grow you better sell it. There are hundreds of cryptos out there so you have where to choose from.

Stick to your plan is something that I learned in investing in cryptos and still practicing. The prices of cryptos are volatile and they sometimes stagnate for long periods of times while others pop in price and we could be seduced in selling and buying something else because it doesn't seem like our is going up again. I've done that and I've got myself burned. Now I am holding for over half a year the ones that I believe in  no matter what the rest are doing. 

Don't trade if you don't know how to trade. I tried to trade when I first entered the crypto world and I got burned a lot. Now I am just buying as cheap as I can and will sell when I will be comfortable with my profit as I mentioned above. Some type of a HODL but not on a too long term. Just following cycles. But trading should be avoided if one doesn't have the knowledge to do that. 

That's my experience with investing in cryptos. Hope you found it useful and wish you a great day!

$2.33
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All my endeavors with crypto have been learning experiences. This is how I view things. I don't look at any of my trades as mistakes, even when I lost. With the volatile nature of crypto, if you consider your loses mistakes, you will drive yourself mad. This ins't the space for such a mindset. You take your loss, learn what you need to learn (if applicable) and move along. Otherwise you will get burned out, and make real mistakes. 

My only mistake in crypto, was in early bitcoin development, when my intuition told me to buy, and I listened to the persuasion of so many people telling me it was a horrible idea. I don't even want to say how much money I would have potentially made, because it's akin to winning the lottery. This too, was not so much a mistake, as an invaluable life lesson. It was when BTC hit around 20k that I made two decisions.

  • I'll ever work another 9-5, unless absolute necessity is present.
  • I will trust my instincts, and make my own financial decisions.

This is how I consider the conceptual nature of crypto. 

$0.46
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I have learned that the simplest and the best strategy is to first decide if a project is sound. When you have done your homework on the project and it seems legit, invest in it and just sit on it. No trading. Trading crypto is extremely risky and it's taxed in a completely unreasonable manner in most jurisdictions (at the least the USA). Invest only in what you believe in and HODL like a pro.

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