Community post
How I failed in Crypto.
In the interest of not wasting anyones time with a long sob story I will just put this in point form.
- Didn't trust my own gut feelings
- Used some of my first bitcoin to buy bitconnect loans and cloud mining
- Upgraded on cloud mining too much too often ( spent my litecoin, dash and bitcoin )
- Bought into ICO's
- Listened to advice from others
- Bought into dumps
- FOMO'd
- Too many market buys
- Too much short term trading and moving funds around
- Trusted a "trading" group
- Didn't take profit's often enough
- Didn't set stop loss
- Was too optimistic
- At times was over suspicious/ paranoid
Goodluck to anyone new in the crypto world hopefully you can learn from my mistakes!
Replies (8)
Hey @cryptopar - sounds like you learned a lot along the way! And I agree with each of your points here. Especially moving funds around too often.
But you mentioned BitConnect, did you have a bad experience?
Two years ago I bought bitcoins. Just left them there. They are still in my wallet. ;-)
I envy you sir! You will make a great investor!
When it comes to Bitconnect I wish I bought the BCC tokens and held them. At one time I held 24 BCC but loaned it out at about 5$ each. If I had simply kept the tokens I would have made a lot more profit.
ah, yes that's true. are you still using BitConnect? I just cashed in some of my BTC gains for another loan. I think staking is around .5% a day.
that is awesome. I love hearing stories like this. very happy for you @cryptonconfused
Thanks, when investing in cryptos, longterm hold is the key. Especially for cryptos like Dash and Btc.
I missed the chance to buy Antshares though; now rebranded as NEO. Was at 50. :-( . Will be keeping a close look at it to buy on the dip. Hope it corrects a bit.
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