Hey Steenians,
If you are a crypto lover then probably you are already indulged in crypto trading. As we all know crypto trading is very risky and profitable too hence its all depend on the strategies you follow.
But today I am not going to talk about any strategy to use in crypto trading - Today I will be about the 3 Mistakes which can give you some serious losses in crypto trading.
- Instant Results - Do you know that around 30-40% of total people indulged in crypto trading don't even know how it works, on which platform it is running etc.
These kinds of people coming in the crypto field after seeing its big profits in short time hence they have only one target which is to become rich overnight and get some quick results.
Now let me speak genuinely if you are a beginner in crypto trading and not following any right mentor then for sure you will be going to commit this mistake and will invest in many dumping coins which can push you towards big losses hence I always recommend you to understand the history, geography, demography of the particular coin you are investing in so that you can be at safer side.
- Making Crypto Trading As A Business - I know many of you who are reading this article are committing the same mistake.
But let me tell you that cryptocurrency is a kind income source which can increase your bank balance but can't fulfil your daily needs because it is very volatile hence its price keeps changing.
If you are the one who has lots and lots of money or having any other income source too then you can make something very big from cryptocurrency.
But if you are the one who is jobless or who has left his job for cryptocurrency then it is the biggest you have ever made.
Hence I will advise you to either start a new business and generate some other income source too so that you can hold crypto for long and can get huge profits from it.
- Always Thinking For Profits - I have seen many people working online or in the crypto field to only get profit but they forget one thing that they always can't get the profits.
Even if you are doing any business there are 50-50% that you will make profit or loss hence if you always think that you will get the profit in crypto trading then my friend you are again committing a big mistake because you can minimize the losses by taking precautions but can't stop them.
Hence I always to calculate the average of a year to know actually that how much profit and loss you have made that particular year.
Hope you have learnt a lot from these 3 Mistakes and will not going to commit them again in your life.
Comment down below about which mistake you have made in crypto.