Newbies often do not fully understand how the crypto-crypto market works, but are eager to invest right away because they see the results of many people, see the potential of the crypto-crypto market to stimulate greed, They even borrow to invest.
When you do not have the knowledge to have an overview of the market, you will not expect that the market can be sideways or downtrend for a very long time. Professional investors often have to consider many investment options, have the highest risk estimates, but cannot invest and expect. Here are the mistakes of newbies when rushing to invest in crypto:
Don’t understand the market
Many newcomers to the market have no knowledge or understanding of this new market, and have rushed to make investment decisions with the fear of missing out. Cryptocurrency market, if anyone participates for long enough, will understand it will go seasonal, so although this market has the potential to change, the account will not have to invest every day or two to have results immediately.
No knowledge to sift through information
With this market, you must have the knowledge to be able to filter out what information is authentic, what information is junk to choose and have a suitable investment strategy for potential coins, because cryptocurrencies are still Under no one’s control, sharks often publish news to advertise, pr to set prices to control the market. Experienced investors with this market, they will often have a solid understanding of the background information about the coins they invest in. You can consult experts to choose a potential coin.
Do not take the opportunity
The most important thing when investing in cryptocurrencies is to know how to seize the opportunity to buy a good price zone. Because of inexperience, newbies often invest by emotion, the majority effect when they refer to the rumors of Facebook Groups, Telegram shares, so sometimes when they have finished buying, the price drops, they know they are swinging at the top. , sometimes winning or losing for no reason, or even buying junk coins that easily cause a depressed mood, return to negative numbers – losses, long-term efforts pour into the sea.
Besides, there are some people who are more careful and easily lose the opportunity to invest in potential cryptos. These new investors are afraid of risk when deciding to invest, or have a mentality of waiting for perfection, waiting forever to know if there is a coin with more potential, making a more confident decision. Many investors also because of this delaying mentality lost the opportunity to buy coins when the price is really good.
Failure to appreciate the potential
This is the biggest mistake investors make in the cryptocurrency market. They just think that 2, 3 times accounts are already as profitable as other investment markets.
While just the uptrend season returns, the potential coins that you buy in good price areas will bring you quite large or even huge profits for you to increase 2, 5, or 10, or 100 times. Even more times, typically Bitcoin… is a very common thing, but it is important that you have the patience to hold potential coins until then.
Don’t know how to allocate capital suitable for the crypto market
Although the uptrend season, the time to return later is shortened, but we must always calculate the risk. Therefore, the investment capital must be a really idle source of money to be able to wait for the uptrend season to return or when the coin price reaches the price you want.
Usually with this cryptocurrency market you have to determine a long-term investment to be able to change your account, if you have to borrow money to invest, if the sideway or downtrend period is too long, it will be difficult for you to maintain. After paying the interest on that loan over the long term, many new investors are piled up in debt simply because they don’t understand the capital allocations to this market.
Tips for new investors in the crypto market
New investors need to grasp information about the market, know their cash flow, how much they can accept risks because this is also a fairly new market with high profits but many risks. . New investors should aim for medium or long term profit opportunities with this cryptocurrency market rather than targets looking for quick profits in short time period.
In case you don’t feel really confident with limited financial resources due to the current difficulties caused by the Covid-19 pandemic, investors can think about taking advantage of the time at the guesthouse. translated according to the directive 16 of social distancing, to learn online cryptocurrency investment courses to improve knowledge. But if we work to learn there, then you have to pay a lot, lose a lot of time, lose a lot of money, even lose a lot of relationships and the most scary thing is that we can’t stand up, so please consider that.
The market for many years of operation is still there, potential coins are still appearing more and more day by day, opportunities are not lacking, but it is important that you are equipped with enough knowledge to identify which coins are suitable. Which coin is the garbage coin, and the most optimal investment strategy, do not rush to invest in crypto when you do not understand anything about this market.
When you start to get more serious with your investment, think immediately Financial Investment Academy, currently available Courses Long Term Crypto Investment for Newbies. This course will guide you from the most basic, help you access the necessary information when choosing potential coins, buy them at good prices, and be accompanied every day to help you hone your analytical skills. analysis, psychological control, effective investment strategy, when you gradually understand how this market works, you will be confident in your investment decisions to be able to reap many benefits from this market.