Why do people fail to make money in the Crypto market

Why do people fail to make money in the Crypto market

crypto is at its peak! everyone is making insane money through cryptocurrencies but why do some people still lose all their money in the crypto market or some even get liquidated, the simple answer is “ they don’t know how to make money in the crypto market “

there’s no doubt that the crypto market is growing rapidly but the one who doesn’t know how to make money will lose his money, if you want to make passive income through cryptocurrencies you need to work on your mistakes as well you need to learn how to trade.

let’s discuss some mistakes due to which people fail to make money in the crypto market

people fail to overtake FOMO ( fear of missing out )

one of the main reasons for losing money in cryptocurrencies is that they usually see a crypto influencer investing his/her money in cryptocurrencies, due to which get caught by the fear of missing out ( FOMO ) and they invest their hard-earned money in the worlds most volatile market called crypto market.

they invest in coins without any confirmation and end up losing their money, if you want to make money by trading cryptocurrencies you need to properly look at the coin before you invest.

taking high leverage with no risk management

One of the most common reasons why new traders lose their money is they don’t manage their cryptocurrency portfolio and often take high leverages, they usually see a coin getting high demand so they invest 100% of their assets with high risk, or in futures they take high leverages upto 100x.

due to their high risk, they saw an unimaginable downfall in their crypto profiles, always remember to manage your profiles because the crypto market is one of the most volatile markets in the world.

if you are looking to make money in cryptocurrencies you must take low leverage near to 10x so you won’t get liquidated and if you are a spot trader then invest 10 to 15% only in a particular coin.

they invest in shitcoins

another reason for losing money in the crypto market is people usually invest in shitcoins, the coins with no future goals or secure blockchain system. they only get hype and their price is increased for a short term, these coins are not at all a good choice if you are looking to invest in long-term or even short-term trades because they rely on a sentimental analysis system.

for making profits from the crypto market, always remember to properly research the particular coin with a good development team, for deep research, you can check the reviews of its investors.

If you don’t want to spend your time researching crypto coins you can simply go to coinmarketcap and check the top 100 coins that are trustworthy and then you can invest in these reliable crypto coins.

they choose the wrong mentor

there’s no doubt that if you want to be a successful trader you need a trusted crypto mentor, but if you fail to choose the right crypto mentor you will probably lose your funds, there are two options “ learn crypto trading or choose the right mentor”

some of the fake crypto gurus or crypto mentors usually promote their paid courses and promise to teach crypto but they only try to earn money from you, always stay away from these types of scammers.

if you choose the right crypto mentor for your crypto journey you will learn crypto trading within 4-6 months, all you need is to pay attention and be serious while investing in the crypto market.

they don’t focus on their learning

the last reason why people fail to make money through the crypto market is that they don’t even hesitate to learn crypto trading, they directly invest in the crypto market. Due to a lack of their trading knowledge, they don’t even know the basics of crypto trading.

at last, they lose their money because they don’t know how to trade. As a professional crypto trader, I recommend that go to Udemy pick a crypto course, and learn crypto trading for at least 6 months.

after you learn crypto trading, trust me you are gonna make insane money through the crypto market because you know the crypto market cycles on which the market depends, you have an idea about good crypto investments and you also leaner how to manage your funds.

final assistance

these are some reasons why some people fail to make money in the crypto market, you must be working on these mistakes and after that, there are bright chances that you will start making profits from the crypto market.

I hope you found this article helpful, now if you wish to know more about crypto trading you can click here if you still have any kind of questions regarding to crypto market you can feel free to contact me because I am always ready to help you.