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What is something you wish you knew before you started investing in cryptocurrencies?

All Cryptocurrencies

by COINS NEWS 170 Views

Surely your thinking and strategy has changed since you first invested in cryptocurrencies. At least that is the case with me, I learn while I invest. Learning actually never stops in crypto.

As a beginner, I made my first mistake:

  1. Not knowing what DCA was and the amount of money I decided to invest I invested in one go. That is $1000 (two month salary here) at once. Now I realize that DCA is a better strategy but I can't undo what I did.
  2. Another mistake is that since I didn't have much money to invest in cryptocurrencies but I wanted to accumulate more coins. I tried to time the market. Maybe I only succeeded a couple of times but FOMO hits and I end up with almost no profit or small loss.
  3. The third mistake is something I still do and that is not taking a profit. FOMO hits me so hard that when time to sell comes I only have in my head the imaginary money I would have if an “X” coin jumped to an “X” price.
submitted by /u/UnexperiencedIT
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