Avoid These 5 Cryptocurrency Mistakes Or GO BROKE

by birtanpublished on August 4, 2020

Look we're all humans we all make mistakes that literally becomes a part of being a human making mistakes and I've made so many I can't even count it on my hands wait let me do even in cryptocurrency I've been here for a long time yeah I got the experience and

Everything like that but how do you think I gained an experience okay in this video I'm gonna consolidate all my mistakes into five five pivotal moments in my life where I could have made way more I could have saved way more money

And I lost it by doing the wrong thing keep watching what's going on everybody Alex back with another cryptocurrency video today I'm talking about five mistakes massive mistakes that I completely avoided okay

The reason why I make these videos in general so you guys can learn from my experiences and what I know in cryptocurrency and try not to make the same mistakes right the whole point is to learn from this and use it in your

Cryptocurrency journey so I'm going to all the details before we get started guys if you have already subscribed to the channel my name is Alex I talk about everything cryptocurrency and entrepreneurship if you're looking to

Make money on the internet well this is the channel for you this is obviously not financial advice but people tend to you know watch my videos cuz I back up everything with facts and I've been in cryptocurrency for a long time so I have

A lot of wisdom in this area so we're gonna be dive into the details now the first thing okay now it might be you know one of those things where it's like a good and a bad thing right but I will say that it ended up being a bad thing

Right so if you guys know my story I got into cryptocurrency mining I used to mine cryptocurrency okay you know with these GPU miners that you know heat up your room I had three of them right and the way I transitioned was I was

Actually doing like an iPhone flipping business I was like fixing up iPhones and O's failing a failing business and so I decided to get a job so in transitioning you know to getting a job I decided hey I got two weeks left you

Know till I have to actually start this job I'm gonna create a theory on mining rigs so I can make money passively while I go to work now know most people say outs why you did so great you made money right and I believe the same thing I

Made a whole bunch of money I started mining a theory I'm a three to seven dollars right it was a definitely a big success but when I went back to do the math right when I went back to see how much money I could have made if I took

That same capital and I actually just bought aetherium there was a massive like 50x difference I would have made more money if I would have just purchase the cryptocurrency now this video I'm not trying to shame mining cuz you could

Make money on mining but what I will say is that you know throughout history more people have made more money off of holding the coins rather than mining so this reflects my strategy moving forward I will say that just to add to that is

That when the miners you know started doing really well and cryptocurrency took off in 2017 and people were crazy about cryptocurrency I actually sold my miners for double the price Johnna double

Yes right so I purchased the graphics cards for a certain price and it was such high demand that you know if you guys wanted to buy a stuff you could look into the video when we're in a board you could buy these you know

Computer company stocks right these hardware companies saw stocks and everything and they'll actually go up with the price of Bitcoin because in the video was in high demand their graphics cards as well as a whole bunch of other

Different companies so I basically sold them for double the price on eBay and I made some money on the back end even with that profit I would have made way more if I would just purchase you know the etherium right um so I guess you

Could say that's kind of like one of my big big you know mistakes in cryptocurrency is that I should have just purchased the etherium now what's it like forty dollars I did purchase a lot more like with hard cash once I

Learned you know I could have made more you know you guys mining is a big headache and the fact that I have to go back and look and be like yeah I could have just purchased it aetherium you know kind of blows my mind how much

Headache I went through mining these right if you guys don't know how to you know keep up a server it's pretty difficult it's pretty hot for your room and it's annoying it's very annoying but it did end up kind of paying off and

I do look at it as a success but I will say that for you guys don't make the same mistakes don't put your money like just holding the coin usually will give you the higher percentage gain in almost every situation whether it's like cloud

Mining regular mining and a lot of cases I would say the majority of cases just holding the crypto you'll get those gains you're looking for especially in the next bore run so on to you no mistake number two as a human yeah I

Make mistakes all the time right 2017 think about it have a whole bunch of e theorem it goes to $1400 per point okay now most people you know be like cash out but you guys think in hindsight right so imagine I'm mining a theory I'm

At seventy three dollars right he theory he jumps up to like what it was like a hundred and forty bucks per per eighth now think about it all my friends were thinking I'm like a genius like my parents

Wow you just made like you know 20 X on your money you made ridiculous cash is crazy let's cash out now right everybody was saying cash out now and I was more like no I'm gonna hold it right so I developed the hot euler's mindset but I

Took it a little bit too far right I held all the way up I sold a little bit at eleven hundred I held all the way up to $1400 and I didn't sell as many as much as I should have

Right so you know in this case I would say that I'm and you know this bull run I'm gonna try to sell more like 50% of all my cryptocurrency I'm gonna try to time the market hopefully you guys know how to

Time the market hopefully you guys know we're going in general 10 to 15 X total cryptocurrency market and if you don't know that I highly suggest that you do a lot more research right and I will say that that's one of another huge mistakes

Of mine is that I didn't really understand what's going on okay I didn't do the research that was necessary and I did some you know faith investing I was investing just because some people on you know YouTube told me to invest or

Some guy told me you know I was kind of taking a leap of faith right and the problem with that is that you don't really know what's going on or eat and the thing is you could be right right let's say you take the leaf leap of

Faith you make a whole bunch of money in cryptocurrency and you're right right but you don't understand what's going on the back end it's kind of boost your ego and it's not gonna help you research it more the whole point is that you want to

Know what's going on in the back end so that you can maneuver the right way like for example cashing out the good amount you know at the top you know when Bitcoin was 20k you know cashing out don't faith invest you guys don't know

How to research there's a lot of different sources on the internet of course you guys can read as many articles I say if you want to really learn about crypto read 10 20 white papers okay I read a whole bunch of

White papers and it'll catch you up to speed on a lot of it now if you really don't understand how to even read a white paper or maybe you've tried to read a white paper I do have a website called the fundamental secrets com that

You guys can check out where you know all these youtubers back in 2017 hey do your own research make sure you do your own research but I didn't know how to do my own do you know how to do your own research I made a hundred or so

Principles 120 something videos as well as full coaching at the fundamental secrets rather the background to help you save yourself from more mistakes because that's always a possibility regardless of what you hear here the the

Path to you know financial independence and cryptocurrency is filled with treacherous treacherous Road it's a treacherous Road okay and some people like you know a guide or somebody to show them the way right so another

Mistake I made there was a lot of different programs like hype programs right high investment yield programs or like cloud mining or all these little things where you could put your crypto currency on it you know make more money

Maybe you've got caught with the scam where they you know they say they're gonna double your money if you send them atheria more Bitcoin but in general I want to put in a classification investing in things

That are way too good to be true guys what is way too good to be true mean way too good to be true means Renaissance finance was one of the best hedge funds in the world best funds when it comes to making money for their clients most

Solidified long term hedge fund that makes them they get about 60 to 70 percent a year okay what does that mean one percent a day three percent a day doubling your money overnight all of that is way too good to be true if it's

Offering more than seventy percent a year be highly skeptical highly skeptical anything I don't care what it is I could look at a platform it can have the cleanest website in the world and I see how much they're gonna make

You and I know it's BS because nobody nothing legitimate that people have found have made these type of returns so be careful and investing in things that are too good to be true because you will get caught off guard this is the wild

Wild west of Finance and people will take advantage U of you you know so make sure you guys store it the right way you're not investing into these scam protocols remember you have to work for your money that's just the way life goes

I don't know who else is leading you the wrong way I might have some click baby titles but guys I give you the real deal noise feel like I say in all my videos right and then I guess you can say that another big flaw of mine was uh the

Security okay not not in the fact that I got hacked and lost my money but when I stored my crypto currencies and this I'm sure a lot of you can attest to it I didn't really store the private keys in a lot and the right way and I lost money

And this is one of the this is not only my mistake I didn't lose that much I lost a couple hundred bucks but I will say that this is one of the biggest mistakes you could possibly make not having efficiently for your private keys

Do not keep it on your computer write them down it's very important for you to write down your private keys and have them somewhere safe and understand exchanges that you're on because if you lose the path password or you have to

Like get a new phone and update your Google Authenticator or something goes wrong right and you need your private keys and you don't have access to them it's the worst feeling in the world considering you know these investments

Can't end at twenty fifty fifty and 100x like a lot of these coins can under Exley you could potentially have and if your money hundred X's and you can't get access to your cryptocurrency that is one of the biggest and worst mistakes

I'm sure you guys all have heard of that guy I don't know his name I don't know a specific situation but I can remember how much money he lost right you know that invested in Bitcoin at a couple pennies and now he's worth

Like 20 million dollars but can't get access to his private keys don't make that mistake it's one of the biggest mistakes and then I got a bonus mistake for you guys and I'm included on this one here I thought it was kind of kind

Of funny but one of the biggest mistakes ever made is obviously not getting in early enough but you know there's nothing I could do about that you know I had a decision to make at one point in my life I think it was like in

2014-2015 I literally had you know 5 grand to my name I was young and I literally was like should I buy a car or shall I buy a Bitcoin mining rig you could ask my parents I literally had the whole schematics I literally you know

Wrote a whole business plan about the Bitcoin mining rig so I can make sure I have it the right way and I ended up going with my car so yeah not getting in early enough that's probably the biggest mistake and if you haven't already

Gotten to cryptocurrency guys that's the two things that people always say I didn't get enough and I didn't get in early enough but that's it for this video guys if you like the quality as content hit like if you don't leave some

Constructive criticisms subscribe for more video updates and like I always say if you don't get with this technology you will get left behind thanks for watching this video guys catch you in the next one

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