In today’s video, I go over the top 9 mistakes every cryptocurrency investor makes according. Any one of these mistakes can cost you a ton of money so make sure to watch till the end!
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#1 Buying high and selling low
The fundamental principle of investing is to buy low and sell high, but so many people do the exact opposite of that especially with crypto.
#2 Buying a coin simply because of its low price
A lot of people think that the price of the coin determines it's value but that is just not true. It's a very easy mistake to make, people do this all the time in the stock market as well. What determines how big or valuable a crypto is is not it's price.
#3 Trying to make a 100x returns from shit coins
The third mistake is trying to find that one coin, that one coin with a small market cap that's going to blow up and give you 100x returns.
#4 Buying and selling too much
Mistake number 4 is constantly buying and selling your coins. Not only will you have to pay a bunch of capital gains tax if you actually profit, but you will also be paying a bunch in fees.
#5 Using Leverage
Mistake number 5 is using leverage. It's not good for beginners at all. So leverage is extremely powerful and it actually caused the recent market dip. Leverage is basically using borrowed money to invest in cryptocurrency that you will need to pay back.
Watch the video for rest of the mistakes! I promise it will be worth it!
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9 WORST Cryptocurrency Investing Mistakes To Avoid
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