Hey Everyone, welcome back to My blog Crypto Times and Hope you guys are doing good. This article on avoiding the top 6 mistakes in Cryptocurrency investing.

1. Buy High And Sell Low

Whenever the trend increasing, people think that crypto may go higher in the upcoming time. So they buy at a high price (FOMO). But after the price goes down, and the portfolio of the inverter shows a huge loss so investor sells their crypto at a low price (SCARE).

Avoid by using Dollar Cost Average Method:

Suppose you want to invest $1000 in Cryptocurrency, so you can Divide it into Four packages of $250. Now invest four packages of $250 in the different timelines like a week or month. Suppose you buy the same coin at a different price like $150, $250, $110, and $213. So the average is $180, meaning you invest $1000 dollar at a price of $180 rather than the price of $250

2. Buying because It is Cheap:

Suppose you buy a ShibaINu coin rather than Bitcoin because it is cheap. And this is the biggest mistake by just looking at the Price. Generally, you have to understand Market Cap before investing in Crypto -

                    Market Cap= unit price * Supply

The Supply of Shiba Inu is nearly a trillion, but the bitcoin maximum supply is only 21 billion.

3. Looking for 100x GEMS

Beginners investing more money in Altcoin because the Altcoin prices increase at a very high rate than a normal coin i.e Dogecoin, Safemoon etc. but ad=fter some time it goes very low. An altcoin is always very high volatile and beginners always lost money in Altcoin. Only Advance Investor take good profit from the Altcoin

4.No Diversification

May you Heard that don’t put all eggs in one basket rather than separate them into many baskets. It means don’t invest only one cryptocurrency rather than believe in more than two coins which decrease the Risk. 

5. Buying More than You Can Afford to Lose

Beginners invest a very high amount in cryptocurrency but when the price goes down, they lose the Money which creates Debt on the Investor and Life became negative after a huge loss. 

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