Trading Crypto: 50 Things To Avoid

By Damian Hunter

This book will teach you the top 50 things to avoid when crypto trading. With this new emergence of investing, there are many pitfalls that investors fall victim to. These pitfalls are easily avoidable and you will be more prepared to make sound crypto investments after reading this book.

• Language: English
• Publisher: Walker Publishers
• Release date: Nov 12, 2021
• ISBN: 9798201520069

Book preview

Chapter 1 Things To Avoid (#1 - #10)

1. You don't understand the fundamentals

If you're just starting, you're probably eager to trade. I get it. However, don't rush it. Take some time to educate yourself and establish a basic bitcoin trading plan.

Are you familiar with the fundamentals of blockchain technology and Bitcoin? Do you understand the concept of circulating vs total supply? Do you have a good understanding of what inflation is? Are you familiar with the terms exchanges, wallets, private keys, and public keys? You'll be in danger if you can't answer these simple questions. You must take some time to prepare yourself.

2. You don't do anything

Every day, potential cryptocurrency investors pass up opportunities because they are unsure of how to get started.  Even seasoned investors can lose out on new techniques or cryptocurrencies that could result in substantial gains just by not being involved.

Why? They're terrified of making a mistake. Taking action is the first step, so don't be afraid to jump right in.

Action will lead to experience, which will lead to better decision-making. The whole point of the event is to learn from your failures.  Go ahead and make your first investment if you're ready. Even as little as $10, on any exchange, with any payment method.  You can't imagine how much of a difference a small move can make compared to doing nothing.

This is where your journey begins, and you'll experience the highs and lows of investing - it'll be an exciting ride.

3. You don't know what you're talking about when it comes to technology

The underlying technology of Bitcoin and many other cryptocurrencies is what makes them unique. However, if you don't comprehend the technology's foundations, the road ahead will be treacherous.

You don't want to base your investment selections on the 'wisdom' of others. You'll be losing out