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The crypto market is full of opportunities, but beginners often make costly mistakes. Being informed and cautious can help you navigate the space safely.
Many newcomers invest without understanding a project’s goals or risks. Relying on online chatter or hearsay can lead to avoidable losses. Always check credible sources first.
Buying out of fear or excitement can be disastrous. Reacting to market swings often results in losses. Set goals, stick to a plan, and don’t let emotions drive trades.
Crypto comes with compliance and tax requirements. Overlooking regulations or reporting can cause serious problems. Choose registered exchanges and maintain accurate records.
Leaving funds on exchanges without protection or skipping basic safety steps like two-factor authentication or hardware wallets can make you vulnerable to hacks.
Investing too much too soon or without diversification exposes your portfolio to high risk. Start small and gradually increase allocations based on your risk appetite.
Education should come before investing. Consider starting with SIPs, keep initial allocation around 5 per cent of your portfolio, and increase gradually as you gain confidence.
Discipline, research, and security are key to navigating crypto. Avoid common mistakes, invest responsibly, and steadily grow your portfolio over time.