The White House is putting cryptocurrency in the spotlight with Trump's crypto sanctuary, the March 7th crypto summit, and the foundational plan to wipe out new regulations.
Now is the best time to break down the biggest code malfunctions that beginners make. If I had this kind of guide early, it would have saved me a world of frustration.
So let's dive into three mistakes that should be avoided at every cost.
1. Trump Clip Reserve: Avoid buying FOMO
Common mistakes are highlighted when buying digital assets for fear of missing out (FOMO). Buy based on emotions.
Did Panic sell dip? Emotional trading.
Has panic bought a rift? Emotional trading.
Currently, there is no problem buying into FOMO before the assets pumps, but in general, you should not overpay them. The dip comes, thank them.
2. over thinking
Rather than saying we don't think about it, always do your own research (dyor). What we're saying is not thinking much.
Many times people don't mentalize themselves, sell panic, or jump on the water. “What if's” is not that important.
Another example of simply overdoing it is overtrading. As this is a non-stop market, it is very easy to buy and sell constantly and re-enter.
Sometimes you have to just sit in your hands and win the winner.
3. I have the “rich quick” idea
It is not impossible to make the rich man quick. The Shiba-Inu developers have converted $8,000 to $5 billion. It's like the biggest trade in economic history. Better yet, it is all verifiable in public ledgers. *Finger gun*
But this means that this will never happen again.
It's too easy to be wrapped up in shit that loses all your value in a second. That's what we call “ragpur”. So, even if you invest in memes or coins with low market capitalization, you'll do your own research first.
Final Thoughts (Preparing for Trump Clip Reserve)
Hopefully these are three mistakes you can avoid on your crypto investment journey. Learn from your mistakes. Don't live in them.
Like Nakamoto Atoshi, the creator of Bitcoin once said:The fundamental problem with traditional currencies is all the trust needed to make it work. While central banks must be trusted to not condemn currency, the history of Fiat currency is full of violations of that trust. ”
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Key takeout
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The White House is putting cryptocurrency in the spotlight with plans such as Trump's crypto sanctuary and the March 7th crypto summit.
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Even if you invest in memes or coins with low market capitalization, you'll do your own research first.
Post-Trump Crypto Reserve: Three mistakes made by new crypto investors first appeared in 99 Bitcoin.
