Crypto trading mistakes are very common, especially among beginners. This heightens the risk of the already volatile market. Causing more harm to the trader. These mistakes have caused many newcomers to abandon trading entirely despite the future that blockchain promises.
13 Common Crypto Trading Mistakes Are:
1. Investing without adequate knowledge of how the business is done.
2. Failing to take their cryptocurrency business as seriously as they would other businesses, like industries or real estate business.
3. Failing to carry out proper research on the cryptocurrency they wish to invest in.
4. Failing to diversify their investment and investing in just one coin or token only.
5. Having a wallet in which they do not have control of its seed words and private keys.
6. Not securing their seed words and private keys properly.
7. Leaving your cryptocurrency in exchanges might cause you to lose money when the exchanges fold.
8. Going with cryptocurrency pumps out of Fear of Missing Out (FOMO)
9. Not reaching a legal agreement before handing over their funds to the trust of a third party.
10. Signing in to cryptocurrency doubling groups, Ponzi, and pyramid schemes.