Bookwormlux
Valued Contributor
Crypto Currencies provide us with a very good way to make money in this our digital world Today if one really takes his time to understand what is expected of us.
Despite this prospects, there are things that would always cause us to lose our capital if we do not do away with them.
Some of them are
Gambling mentality
Some individuals see Crypto Currencies trading as gambling and so they do not even bother to do any research. They just invest in a coin because everyone else is doing so, this makes them to lose money and you always hear them saying it is a scam.
Proper research is needful in Crypto trading.
Ponzi scheme mentality
Some think they could just invest in some coin and then make 500 percent profits within a very short time. This makes them to get disappointed.
Lack of research
So many people fall under this category. They do not read anything to get updates about the crypto market, they do not know how to understand basic Crypto charts.
Lack of research also makes them ignorant about risk management strategies that could be applied to avoid losses. It also makes them ignorant about the concept of technical analysis which is very important in Crypto Currency trading.
What other reasons can you give?
Despite this prospects, there are things that would always cause us to lose our capital if we do not do away with them.
Some of them are
Gambling mentality
Some individuals see Crypto Currencies trading as gambling and so they do not even bother to do any research. They just invest in a coin because everyone else is doing so, this makes them to lose money and you always hear them saying it is a scam.
Proper research is needful in Crypto trading.
Ponzi scheme mentality
Some think they could just invest in some coin and then make 500 percent profits within a very short time. This makes them to get disappointed.
Lack of research
So many people fall under this category. They do not read anything to get updates about the crypto market, they do not know how to understand basic Crypto charts.
Lack of research also makes them ignorant about risk management strategies that could be applied to avoid losses. It also makes them ignorant about the concept of technical analysis which is very important in Crypto Currency trading.
What other reasons can you give?