New to Crypto? Watch Out for These Mistakes

Welcome back ! 👋

I'm sure you've come across those attention-grabbing headlines online about how some 21-year-old made millions with Crypto.

Sure, it sounds amazing, and who wouldn't want to retire in their twenties, living on a tropical island somewhere in Asia? I sure do.

But here's the thing, most of these online success stories conveniently leave out the struggles and losses that came before hitting the jackpot.

Crypto has been an exciting experiment for 15 years now, and guess what? You're still early. According to market research firm GWI, as much as 10.2% of global internet users aged 16 to 64 own crypto. So, in fact, you can still make life-changing money in this revolutionary asset class.

But how do you avoid the inevitable losses that can come with crypto investing? That's where we come in. We've curated a list of the most common mistakes and how you can avoid them, so you can start planning that island getaway.

The Major Mistakes

1. Short-Term Thinking 

Patience is essential in every investment. While crypto offers the promise of quick gains, it also comes with risks. We advocate for a long-term investing strategy, focusing on higher-quality projects with a proven track record.

With a strategic approach, you can navigate the crypto market more confidently. We provide sample portfolios based on three different types of investors, reserved, explorative and adventurous so you can choose what best suits you.

To get the sample portfolios

2. Lacking Fundamental Crypto Knowledge

Many newcomers jump into crypto without understanding the basics. But like any investment, knowledge is key. That's why we're here to provide education on the fundamentals of crypto. Understanding the technology behind crypto is crucial for making informed investment decisions.

3. Slacking on Security

Security is paramount in crypto trading. From understanding security protocols to utilizing hardware wallets, we'll help you enhance your security measures to protect your assets effectively. At Spiral Strategies, your security is our priority.

Cold Wallets

4. Lack of Patience

Good things take time, even in the crypto world. We encourage investors to adopt a long-term mindset, avoiding the temptation of quick riches. By understanding the market dynamics and having realistic expectations, you can build a more resilient portfolio. To help you we provide private messaging groups and price alerts so you are not constantly monitoring the markets and missing out on life.

5. Not Knowing What a Good Investment Looks Like

Evaluating crypto projects requires more than just looking at the price. We'll help you identify promising investments based on factors like utility, community support, team credibility, and market potential. With our guidance, you'll learn to distinguish between hype and substance.

6. Believing Everything You Read 

Not all advice is reliable, especially in the crypto space. Your best source of factual information is Spiral strategies of course. Self flattery aside, we'll teach you how to discern credible sources from misinformation, ensuring you make well-informed decisions. Your journey into crypto should be guided by facts, not hype.

7. Panic Buying/Selling

Emotional decisions often lead to costly mistakes in crypto. The biggest culprit for emotional decisions is market volatility. Market volatility can be your best friend or your worst enemy. We take the emotions out for you by monitoring the markets on your behalf and presenting you with our buy and sell alerts via email & text.

8. Not Diversifying Your Portfolio

Diversification is key to managing risk in crypto investing. There are thousands of different cryptocurrencies, with more being created daily. Knowing which is a good investment and which is fluff can be very difficult. We’ll help you build a well-balanced portfolio tailored to your risk tolerance and investment goals.

9. Not Doing Your Own Research 

DYOR (Do Your Own Research) is a golden rule in crypto. We'll equip you with the tools and knowledge to conduct thorough research, empowering you to make confident investment decisions. Your success in crypto hinges on your ability to gather reliable information and assess project fundamentals.

10. Putting in Too Much Money Too Soon

Starting small and gradually scaling your investments is prudent in crypto trading. We'll help you develop a risk management strategy to avoid overexposure and minimize potential losses. By taking a measured approach to investing, you can build a more sustainable portfolio.

We're here to support you every step of the way, whether you're a seasoned investor or just starting your journey.

Unleash the full potential of your crypto portfolio, with VIP! Learn more about exclusive benefits and strategies.

Speak soon! 👋 

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