I learned a lot this past bull run. I made some major mistakes. In crypto, mistakes can be costly.
Keep reading to find out the mistakes I made and what I learned. You’ll avoid devastating losses and missed opportunities.
Being risk averse
It took me a while to recover from 2018. I stepped away from crypto. Crypto seemed too volatile and the gains people had earned seemed too good to be true.
Crypto started to pick up in late 2020. I saw the potential, but I was reluctant to put money into it. I invested a few hundred dollars (bought ETH around 700 USD). I thought crypto was really cool back then, but I didn’t invest much. I had a lot of money sitting around but I didn’t want to pour it in. Instead, my money went into less risky index funds.
Hindsight is 20–20. I wish I listened to my conviction. That’s a mistake I’m not going to make again.
Getting greedy
I eventually decided to take the leap and started going all in on crypto. NFTs are volatile. A lot of the prices are driven by hype and FOMO. I got burned by holding some NFTs for too long.
There was one instance, where an NFT I bought was up over 500% (well above the goal I set). I had…
