If you are a novice investor, you should be aware of mistakes when investing in crypto. In this article, we will discuss mistakes that are often made by novice crypto investors.
1. Check Prices Continuously
First, the mistakes of beginner crypto ivestors is always check prices. For novice crypto investors, this is often done. After investing in crypto, novice investors usually look at the price movement. Continuously and as often as possible.
This is mistakes for novice crypto investors. Why? Because this will affect the psychology. The price will not go up continuously. Because it tends to fluctuate or go up and down.
2. Wrong Reference
When learning about bitcoin, other crypto assets and blockchain, novice crypto investors usually look for references on the internet. Unfortunately, many of these references are misleading.
To understand how the reference is really credible or not, you can take a trusted website or trusted media. In addition, you can also analyze yourself whether the explanation on the website is logical or not. You don’t need to rush to make a decision after reading references from the internet.
3. Does not take into account the budgets
The fifth and most important thing is, make sure you only trade with funds that have been allocated for investment. Never use primary funds for your daily needs to make any kind of investment. That’s very dangerous!
Apply your investment funds from your salary or pocket money. Do not use funds outside of investments, especially funds for payment of obligations. This is useful for you to be adept at allocating funds. Remember. Reliable investors are not only investors who always get profits. However, they are also reliable in allocating the funds they have.
4. Afraid to Try New Features
Blockchain ecosystems often add new features. Many people are skeptical about new features. Even though they have not tried it with the reason that they are afraid of losing. In fact, new features usually have less risk than just buying assets or trading.
For example, like decentralized finance/DeFi which is being loved. One of the DeFi Dapp wallets with multiple DeFi programs is Coinomo. You can get a definite profit even though the price or fixed income for a certain period, even though the price of crypto is currently falling.