My biggest gains this year where on $sol #solana $matic #polygon $Gala #galagames
But many people this year will have got #REKT'd on projects like #dogecoin #shiba
Starting out in #crypto is hard.
Here is a simple thread top stop you getting wrecked 🧵👇
RT if you like ☺️
But many people this year will have got #REKT'd on projects like #dogecoin #shiba
Starting out in #crypto is hard.
Here is a simple thread top stop you getting wrecked 🧵👇
RT if you like ☺️
1/ GET RICH QUICK - PT1
You hear stories of people making millions overnight like @ProTheDoge , who bet everything on $DOGE. But 99% of the time its pure luck.
You hear stories of people making millions overnight like @ProTheDoge , who bet everything on $DOGE. But 99% of the time its pure luck.
2/ GET RICH QUICK - PT2
New investors are seduced by the #moon potential of smaller projects & invest more than they can afford to lose.
Remember to always only invest what you can lose & take profits when you can!
New investors are seduced by the #moon potential of smaller projects & invest more than they can afford to lose.
Remember to always only invest what you can lose & take profits when you can!
3/ TIMING THE MARKET -PT
New investors always dream of buying low & selling high. But the truth is no-one can 100% predict the market, especially small caps. Its far better to
-DCA in on big caps like #bitcoin
-Invest small amounts, in smaller projects.
-Always take profits
New investors always dream of buying low & selling high. But the truth is no-one can 100% predict the market, especially small caps. Its far better to
-DCA in on big caps like #bitcoin
-Invest small amounts, in smaller projects.
-Always take profits
4/ FALLING 4 FOMO - PT1
People buy at ATHs due to the fear of missing out (#FOMO).
Take $ADA #cardano for example, many people FOMO’d in before the smart contract launch around the 12th Sept, just for it to dump ever since.
People buy at ATHs due to the fear of missing out (#FOMO).
Take $ADA #cardano for example, many people FOMO’d in before the smart contract launch around the 12th Sept, just for it to dump ever since.
5/ FALLING FOR FOMO - PT 2
I used to make this mistake too.On $OMI #ECOMI i #FOMO’d in after it was pumped by big influencers and then it dumped for months. Thankfully i made a tiny profit, but i got lucky.
I used to make this mistake too.On $OMI #ECOMI i #FOMO’d in after it was pumped by big influencers and then it dumped for months. Thankfully i made a tiny profit, but i got lucky.
6/ FALLING FOR FUD
New investors always suffer from 'Fear, Uncertainty & Doubt' (FUD) and sell at a loss. A good example of this was #COVID19 back in March 2020. Look at how the price of #BTC tanked...then came back up to ATHs!
New investors always suffer from 'Fear, Uncertainty & Doubt' (FUD) and sell at a loss. A good example of this was #COVID19 back in March 2020. Look at how the price of #BTC tanked...then came back up to ATHs!
7/ FUD -PT2
FUD is also caused by the volatility in #cryptocurrency markets. Many can’t handle wild swings even on big projects like #bitcoin, #Ethereum and #solana. They see it dip by 30/40% & panic sell at a loss. Thats what many are experiencing right now too.
FUD is also caused by the volatility in #cryptocurrency markets. Many can’t handle wild swings even on big projects like #bitcoin, #Ethereum and #solana. They see it dip by 30/40% & panic sell at a loss. Thats what many are experiencing right now too.
8/ FUD -PT3
To combat FUD & FOMO you need to have a plan:
-the price your buying in
-the price your taking profits
-how long your going to HODL for
-you need to be careful with small caps!
To combat FUD & FOMO you need to have a plan:
-the price your buying in
-the price your taking profits
-how long your going to HODL for
-you need to be careful with small caps!
9/ SCAMS - PT1
#cryptocurrency is filled with #scams such as bots, fake accounts, people DMing you asking for money or offering ‘free giveaways’. Or they setup scam websites to steal your #crypto wallet keys.
#cryptocurrency is filled with #scams such as bots, fake accounts, people DMing you asking for money or offering ‘free giveaways’. Or they setup scam websites to steal your #crypto wallet keys.
10 SCAMS - PT2
The best thing to do is remember the following:
-Never give out your details
-Never download anything from a random person on social media
-Never send random people cash or visit random websites
The best thing to do is remember the following:
-Never give out your details
-Never download anything from a random person on social media
-Never send random people cash or visit random websites
11/ DYOR (Do your own research)
YOU can’t just blindly follow big influencers on #youtube & expect big returns. You need to get in before them and check out the project yourself. How do you that? I made another thread here 👇
YOU can’t just blindly follow big influencers on #youtube & expect big returns. You need to get in before them and check out the project yourself. How do you that? I made another thread here 👇
https://twitter.com/Willbrandblock/status/1467997039883599874
12/ As always follow good people like:
@futrii
@blockchainedbb
@CryptopepperP
@sweetsinner3
@TechDev_52
@WClementeIII
@crypto_caesar1
@woonomic
@CryptoMichNL
@TheRealPlanC
If you liked this thread pls RT/share as always.
Thanks
@futrii
@blockchainedbb
@CryptopepperP
@sweetsinner3
@TechDev_52
@WClementeIII
@crypto_caesar1
@woonomic
@CryptoMichNL
@TheRealPlanC
If you liked this thread pls RT/share as always.
Thanks
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