10 WORST Crypto Mistakes: Are You Making These?!

Do you want to maximize your gains in The crypto market then you need to avoid Some of these mistakes mistakes that you Could even be making right now what my Name is guy and in this guide I'll be Diving deep into the top 10 mistakes That crypto investors so often make Mistakes that could cost you big time I Made a mistake so stick around because This video could be the difference Between turning a profit or having your Fortunes swept from under your Feet the first big mistake people make Is not doing their own research before Investing now we get it it's easy to get Caught up in the hype especially if your Friend degenerate Dave is making bank And telling you about an altcoin that's Guaranteed to 100x you're hepped up on Hopium and desperate to get in on the Action but ladies and Gent Don't fall into the Trap take your time To do your research learn about Exchanges learn how to store your crypto Safely learn about your tax liabilities And definitely definitely do your Homework on crypto projects it sounds so Obvious but time and again people don't Do the basics now we have an entire Video on how to do your own research Properly and we will link to it in the Description below but but I'll summarize The main points here so when it comes to Researching projects there are two key

Things to look out for first is it a Legit project and second what is the Token allocation so to do this we Recommend you start by checking out the Coin or token on coin market cap or coin Gecko sift through the data paying Particular attention to the price action And trading volume the trading volume Should be significant you want to to Make sure people are actually buying and Selling the token and it should be on at Least one reputable exchange now once You're assured that the fundamentals are In order it's time to Deep dive into the Secondary sources you should research The crypto on platforms like misari Binance research coin.com etc etc these Are excellent primers that should be Able to give you a broad overview of the Project key team members and their Vision in particular check out the Profile section of the cryptocurrency on Misari for things like the Project's History token allocation and so on on That note token allocation is something You should pay close attention to a good Sign is when the tokens are widely Distributed to the community a red flag Is when most of the tokens are held by a Few people usually the founders next you Should do your due diligence on on the Founder CEO and other key team members Research them and see if there are any Videos with key personnel on YouTube

Past interviews can be hugely Informative and help you know if they're Implementing their Vision or are a bit Scattered naturally it's a good sign When they're delivering on their road Map now by this point you should have All the information you need to Determine whether the project is legit And has legs so far so good now the Second mistake we see newcomers and even Some old hands in crypto making is Picking the wrong exchange there are Different degrees of mistakes you can Make when it comes to choosing an Exchange the first thing you should look Out for of course are signs that the Exchang in question is legit time and Again we hear of people falling victim To exchanges that turn out to be scams So be careful of paid ads for exchanges Even if they are are on reputable news Sites do your research what are people Saying about them on Reddit on Twitter And other forums who are the founders Have they been around for a long time Just like doing your own research when It comes to specific crypto projects you Have to do the same when it comes to Exchanges especially lesser known ones Then you need to know if the exchange is Compatible with your investment strategy By this I mean does the exchange offer The tokens you're seeking to buy if You're going to invest solely in large

Cap tokens then pretty much every Exchange will have you covered but if You're seeking small caps which are Higher risk but offer potentially Eye-watering returns well you'll have to Be more selective when it comes to Exchanges now some exchanges offer many Hundreds of coins and tokens which is Pretty Impressive however coinbase selection For instance is far smaller in the low Hundreds but coinbase is highly Regulated ated and as a public company In the United States has to have the Most robust security procedures going Many other exchanges are not subject to Anything like that degree of scrutiny And therefore can't be as trustworthy as Well as security and coin allocation you Should also see if the exchanges Functionality suits the type of Trader You are if you're a newcomer it might Make sense to go for an exchange with a Simple interface if you're more Experienced then make sure the exchange Has the trading tools you're looking for Some exchanges have basic and advanced Versions so you should be covered Regardless of your level but shop around And side note I have to say that one of My pet peeves in crypto at the moment is How fiddly and difficult some exchange Interfaces are to use this is especially The case for newcomers but they can even

Be a challenge for experienced crypto Folk now we won't onboard hundreds of Millions of new users if they are not Going to be comfortable with using many Of the exchange platforms out there sure They might go to one of those exchanges That has done the work to make a more Beginner friendly interface but they Might also be put off alog together so If you happen to work at an exchange and Are watching this take note I think we All know who some of the main offenders Are when it comes to UI and Ux okay rant over for now moving on last But not least make sure that the Exchange you're considering supports Your currency and doesn't have crazy Trading fees seriously nothing takes the Sheen off of a good day's trading like Heavy trading fees especially when there Are cheaper alternatives out there and Speaking of trading fee discounts if you Want to bag ones of up to 60% then you Have to go and check out the coin Bureau Deals page linked to below not only do We we have that on offer but some of the Exchange deals also include signup Bonuses of up to $440,000 it's a limited time deal so be Sure to take advantage of it when you Can so it's really important to make Sure that you are using the right Exchange and if you're still struggling To find the right one then our video

Where we compare the top six exchanges On the market is a must that's linked to In the top right here on to our next Mistake though and that is not having a Plan remember Benjamin Franklin's quote By failing to prepare you are preparing To fail well this certainly is the case In crypto too often we see people Getting carried away with emotions when They're investing they hold on just a Little too long and end up with nothing But regrets avoid this by having a Strategy a solid strategy is your road Map it guides your investment moves in a Way that's thought out and and not just A shot in the dark it's your guardrail Against making Hasty heat of the- moment Trades with a great strategy in place And the discipline to follow it you'll Be on autopilot and avoid getting Knocked off track by fud and fomo so how Do you whip up a killer strategy well It's very person specific you need Something that works for you but luckily There are a few guidelines that can help First off figure out what you're aiming For and I'm talking specific measurable Targets not just some Pie in the Sky Fantasy when determining your goals be Sure they align with how much risk You're comfortable with if you're young And without dependence you might go Heavier into crypto than someone who's Older with a family to support as for

Your crypto portfolio you must decide How much risk you want to take on should You allocate more of your portfolio to Smaller cap alts instead of safer large Cap coins which carry less risk but also Less growth potential also should you Hoddle or actively trade again it Depends on your risk reward calculation Hodling is the safer bet but is less Likely to bring you crazy returns now Regardless of the strategy you choose Remember one thing only invest what you Can afford to lose and don't under any Circumstances borrow money to invest it Just isn't worth it and if you're new to Investing avoid the temptation of using High leverage this is one of the Quickest ways for newcomers and indeed Anyone to get wrecked trading crypto and Finally make sure to take profits along The way this must be one of the most Common regrets I hear when people talk About their Investments build this into Your strategy you'll thank yourself Later right you've done your homework Work you've made a plan and you're Executing it great job the next two Common mistakes I see relate to security The first of these relates to self- Custody for those who need a refresher Self- custody means you are in full Control of your crypto by storing it in A crypto wallet that only you control It's the crypto equivalent of keeping

Your cash in your own safe instead of a Bank self- custodial wallets are the way To go so if you're new to crypto you Might be wondering why shouldn't I keep My money on a centralized exchange like Coinbase Kraken K coin whatever well if You're active trading it may make sense To keep some amount on these platforms For convenience but anytime you hold Your assets online with third parties There are risks first you must trust the Entity in question although most of the Industry is clean there are some bad Actors out there remember it's not that Long ago that s bank anman freed was Crypto's Golden Boy and His FTX Empire Was widely admired no one saw it coming And plenty of people lost big money you Just can't be too careful Unfortunately the second risk with Centralized exchanges is that even if They are trusted and are doing Everything in their power to keep your Assets safe they can never guarantee That a hack won't happen in fact more Than $4 billion dollars has been stolen From various exchanges and custodians in Recent years as trezor's CEO mate Jac Told me recently and no exchange is too Large to be affected even binance Suffered a hack back in 2019 and that Was despite its extensive security Protocols crypto exchanges are basically Massive honeypots for hackers and offer

Huge rewards to those who can crack Their security systems there will always Be bad guys looking to exploit them then You need to consider things like Regulatory risks exchanges operating in Uncertain legal environments May face Sudden shutdowns or asset freezes by Authorities which can mean investors are Unable to access their funds and this Isn't as rare as you might think in 2021 For instance South Korea shut down 11 Exchanges which were accused of being Involved in fraud and lastly there is Always the risk of bankruptcy and Insolvency if that happens user assets Could be jeopardized that's even more Likely if an exchange doesn't conduct Proof of Reserve Audits and if you're Unfamiliar with what those are we have a Video on that as well but you get the Point for all of these reasons it just Isn't worth the risk of holding assets On exchanges to borrow a line from the Great Benjamin Cowen quote treat Exchanges like public toilets get in do Your business and get get out so what Should you do instead well self- custody Your crypto is the answer to that Question and by that we mean send that Crypto to an offline wallet to which you Hold the keys and if you want the best Option of all then you need to consider A hardware wallet like a treasure Engrave or a ledger it's still quite

Shocking to see how small the proportion Of crypto users that use Hardware Wallets actually is according to reports At least 29 95 million people across the World use crypto yet Ledger and trasor The two primary Hardware wallet Manufacturers have just 5 million users Between them now if you don't know what Hardware wallets are or which are the Best ones to use then we have you Covered there as well I'll leave links To our videos and articles in the Description we also have some great Discounts on wallets for you in the Deals page too so don't forget to check That Out and this leads us on to the next Classic security blunder too often People fail to back up seed phrases and Passwords now a seed phrase in case you Need a reminder is the series of words Generated by your crypto wallet they act As a master key to access and recover Your funds in the event of device Failure loss or theft your seed phrase Is the only way to regain access to your Assets stored in the wallet now I get it It's a hassle to keep hard C cies of all Your seed phrases and passwords but Again we're talking about your money Here folks it's better to be safe than Sorry and it's very important that these Are physical backups do not under any Circumstances save seed wordss in a

Digital form on your device it is a Sure Fire way to get your crypto swiped by Malware or hackers now you could go the Paper backup route or even better Engrave it on a steel card but make sure To keep that info under lock and key but That's not all you should also think of Your Exchange accounts you should use Two Factor authentication of course but How many of you have jotted down the Backup code for resetting this lose your Phone and you're locked out of your Account it's a headache of a Verification process to get back in so Avoid the anguish by writing down those Codes and keeping them in a locked box With your seed phrases easy Now the next two most common mistakes Relate to risk to really nail those Long-term crypto gains smart risk Management is your best friend it's easy To get caught up in the moment make snap Decisions and stray from your original Game plan and in a bull market when Prices are going bananas keeping a cool Head is super important so having a risk Management strategy that fits your Investing style is crucial again for all Investors only invest what you're okay Losing if you're more of an active Trader think about setting up stop Losses and take profits these Automatically close your position at Your chosen levels they help you take

Profits while the going is good and Prevent greater losses when the going Gets rough it's a no-brainer and it Means you don't need to monitor the Markets Obsessively now the last thing we'll say About risk management is that you should View everything through a risk lens not Just trading but also off- ramping here Is where we see a lot of folks trip up They send funds to an exchange on the Wrong blockchain it's a really common Mistake and one that is so avoidable Crypto transactions are Irreversible sometimes with cooperation From the wallet provider or exchange you Can undo the damage but it's not Guaranteed and is sure to be stressful Avoid all of that by sending a test Amount first to make sure the funds are Successfully transferred yes you will Have to pay gas fees but it really is a Small price to pay considering the risks Closely connected to risk management is One of the most widespread concerns in Crypto getting duped by scams again it's Vital to Dy when it comes to scams Operate with a healthy degree of Skepticism and keep your your antenna up It's important to educate yourself to be Able to spot some common scam Tactics here we'll briefly mention a few You've got your Ponzi schemes now these Are projects based on bugger all

Foundations that operate for a Time on Promises of big returns only to collapse When new investment stops coming in Scammers will also try and lure you to Dodgy investment platforms where your Money goes in but never comes out again Then there are fish fishing attacks That's fishing with a pH where scammers Set up phony websites or send you emails That look legit all to swipe your Private keys or wallet passwords and Let's not forget Pig butchering one of The nastiest scams of all this is when Someone establishes an online Relationship with their victim and then Persuades them to send money or reveal Their financial information it's Basically the Tinder swindler creepy AF And I should also stress at this point That neither I nor anyone on the coin Bureau team will ever reach out to you Directly romantically or otherwise sorry To Disappoint crypto scams often misuse my Name and face to trick my followers I've Seen fake telegram channels WhatsApp Groups and Twitter profiles there could Be fake Tinder profiles for all I know So ignore delete and definitely swipe Left seriously getting scammed is awful It's not only bad for your bottom line It's bound to take a toll on your mental Health as well if you want to find out More about this and what to do if you're

Hacked I'll leave a link to a video on The topic below now the next three Blunders are Psychological while you should listen to Your gut and your heart in some aspects Of your life when it comes to investing Keep the emotions out and focus on the Space between your ears fomo yes that Dreaded fear of missing out often plays A sly game with investors comparison is The thief of Joy said Teddy Roosevelt And he was right when it comes to Happiness but the same can be said for Investing when the candlesticks are Green prices are pumping and your Friends are doing well it's so easy to Forget your strategy and get sidelined This is made all the worse by social Media with people striking it rich Overnight and convincing narratives About prices reaching a certain Target Remember in the last Bull Run many People thought BTC would hit $100,000 it didn't but the narrative Caught on and people didn't take profits When they should have done so again Having a strategy that's based on your Risk appetite and strong research is the Way to go ignore what others are doing If you can and this ties in neatly with The next mistake inflated expectations Especially among newcomers these Inflated expectations can often lead to Major disappointment if you think of

Crypto Investments as a getrich quick Scheme well you're likely to get burned When expectations are not met especially In the short term investors often make Poor decisions these include Panic Selling during Market dips or investing In high-risk assets without adequate Risk assessment that's why having and Sticking to a strategy is so important Stay patient and disciplined and you're More likely to do well and if you do do Well in crypto please folks For the Love Of All Things holy don't go bragging About it it's crass to brag but that's Not why I'm saying this if you brag About your wealth you could find Yourself on the end of some unwanted Attention there are some horrific Stories about people who bragged online About their crypto fortunes being Targeted by criminals so just don't do It keep your gains to yourself and Finally the 10th mistake we find people Making too often is giving up early and Missing out on potential gains the Market's tendency to fluctuate sharply Can be daunting and those unprepared for Such volatility might hastily sell off Assets during downturns risking losses Bailing out early could leave you Missing out on potential upswings talk About fomo the most resilient investors Are those who weather the storms Learning and adjusting their strategies

As they go it helps if you take a Long-term view prices might fluctuate Dramatically in the short term but Remember when in doubt zoom out when you Take a longer Horizon things don't look So Bleak in a bare Market sometimes you Just have to hold on for dear life and Wait for your fortunes to Skyrocket of Course a balance should be struck and if You're taking profits in accordance with The strategy that we mentioned earlier That's great but don't let short-term Market movements divert you on your Journey and keep the perspective on how Far crypto has come Team coin Bureau Wishes you well on your Journey so there you have it folks but What do you think we would love to hear Your feedback as always we'll leave Useful links in the description below These will help you Dy and determine Your risk and trading strategies before You go though if you found this video Helpful then smash up that like button And hit subscribe also head on over to Our deals page for the best deals in Town including up to $40,000 in bonuses And discounts on Hardware wallets okay That's it thanks for watching and I'll See you again Soon