AVOID THIS IN CRYPTO + Twitter Responses

In this video, I'm going to talk about my top mistakes when I came into cryptocurrencies. So everyone makes mistakes, and I made my fair share of mistakes, especially early on in my cryptocurrency career. So I'm going to talk about my top mistakes here. I'm also going to talk about some other people's top mistakes that they gave on Twitter. One of the mistakes I made when I got into cryptocurrencies very early on was I started margin trading. I saw that cryptocurrencies had these wild, wild swings, and I thought, what if I did a two times margin, five times margin, or even a 10 times margin? So I got really greedy. I anticipated an increase in the price of cryptocurrencies, and I bet everything on it. And not only everything, I did a five times margin. So I bought Ethereum at $14, and that sounds like nothing, because we see Ethereum at almost $1,000 now. So what happened was that I bought it at $14, and I used a five times margin. But unfortunately, there was this freak, freak drop in the price of Ethereum. This might be a major whale cashing out. It might just be someone manipulating the market. But what happened was that Ethereum dropped to $7. So that was to halve its value. That meant that I was facing a margin call. And because of the fact that I wasn't there to fill that margin, I didn't have enough cryptos to fill that margin, that position was liquidated. It was gone. That meant that all the money I put in for the long on Ethereum was just wiped out in one clean sweep. And to add insult to injury, well, the price of Ethereum went up to $12 in the next three hours. So if I wasn't on a margin position, I would have been able to kept it and have pretty cheap Ethereum for a long time. Next up, I also had another problem with exchanges. So I left a lot of money, a lot of my cryptocurrencies and fiat on an exchange. That exchange was unfortunately called Mt. Gox. If you guys know the story, in 2014, Mt. Fox declared that they were bankrupt. So what did that mean for me? Well, it meant that all the money that I had, well, it was gone. It vanished. And unfortunately, that was the one event. That one event led me to leave cryptocurrencies. Pretty much 90% of the amount of money I had was just gone in one sweep. And those legal proceedings are still happening today. We still haven't got a single cent from Mt. Gox. So what that means overall is that for me, I just lost all faith in cryptocurrencies. And I pretty much decided, you know what? I'm done. At that time, I decided I don't want to do this anymore. It's stupid. And I lost a lot of confidence. And because of that, there's two mistakes. One mistake was leaving on exchange. The second, which is a bigger mistake, is that I decided to leave crypto. That was when I said, okay, I don't want to research anymore. Everything, I just felt depressed about it. By leaving, I missed out on so many opportunities. There's so many kind of innovations coming into the crypto space. And if I just stayed and held on, I might've got it into Ethereum or Dash or even Cardano that's popping up. And that was one of the things I regret the most. It's just deciding to leave. And it was all because I left a lot of money on an exchange. I've also asked this question on Twitter. And here are some of the coolest responses that I found. Number one response was from Filacone Crypto. He says, the biggest mistake in crypto is it replaced my friend's family, dog, and his invisible girlfriend. It's all happened to us. Basically, crypto is life consuming. And even I, right now, I don't think I know how to deal with the fact that crypto is basically eating up my whole life. Next up, we have Crypto Phillip. He says, following into pump and dumps, all been there, done that, getting shilled into ICOs and losing it hard. Definitely. Especially a lot of ICOs that have a lot of ads, they most likely dump after they get released. Next up, we have being a day trader instead of a hodler. Sometimes we feel like we can day trade and outsmart the market. But what we know is usually the market always outsmarts you. Following the advice of influencers blindly. Panic selling into major corrections. Checking block folio too often and getting emotional over losing investments. Next up, we have Gelsetta plus one, not leaving myself enough tether slash fiat during dips. Yeah, definitely been there a lot of times. Sometimes, especially when I buy a dip, it keeps on dipping. And I guess it's just about pacing yourself. And that's so hard to do, honestly. Austin says, my biggest mistake so far is not getting into crypto earlier than I did. And even though I was well aware of what it was. Patrick says, following what YouTubers say without doing in-depth research. Definitely happens to us all the time, but you can trust me. 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