Part 1: 10 Mistakes New Crypto Investors Make
Many new investors are coming into the market. We are getting a lot of questions and feedback from individuals. We decided to take all of those questions, comments and feedback and do a blog post series. We are calling it “The Ten Mistakes New Crypto Investors Make”. Today we are going to cover
#1. Falling for shills AKA Make sure you do your own research.
Most new investors are joining telegram groups, discord groups etc. This is great as we pride ourselves on our community. You will not find shilling going on here! With that being said it is happening and you must be aware of it. What is shilling? It is the promotion of coins and market moves for personal gain.
It is very important when coming across new info, people, groups etc that when recommendations are given you do your own research. I would continue to do your own research until you get a feel for the type of information you are given from those people.
More than likely if you are putting your own money on the line you will lose it. Most of these shills are coming from paid promoters that are created under fake accounts. These people are creating FOMO on behalf of pump and dump schemes. A ton of people buy in and participate which is not a surprise. We continually hear about it from our paid members.
So the biggest takeaway from tip#1 is do your own research. Understand what the coin does, what the purpose is, who the creators are etc. Do not run blindly into a trade. Do your own research!