Ben Simpson (crypto investor) presents a short YouTube video listing the top eight investment mistakes that destroy crypto portfolios and brief advice to avoid them: (1) buying at the top/fomo, (2) panic-selling during corrections, (3) overtrading, (4) no exit strategy, (5) following hype/online influencers, (6) ignoring taxes, (7) being all-in on one asset (lack of diversification), and (8) emotional decision-making — advocating logical, prepared investing.
Chapters
After nine years investing full time in crypto, here are the top eight investment mistakes everyone makes and how to avoid them before losing a bunch of money. First one is buying at the top's fomo. Don't buy in at the top when everyone's getting excited. Number two Panic selling corrections. There's always volatility in crypto. Don't sell the bottom. Number three is overtrading thinking you need to trade and make lots of money. You don't. Don't over trade. No exit strategy. So many people round trip in crypto. By not selling at the top you need to have an exit strategy to not miss out. The next one is following hype. Stop listening to people online pushing all this crazy content information. You need to cut through the noise. Next one is annoying tax. This is a big one. People ignore it until it's too late and then have a massive tax bill you need to prepare. Next one is being all in on one asset. If you're all in on one asset that underperforms, your entire portfolio is going to be wiped out. And the last one is emotional decision making. You need to be logical. The best investors are logical, not emotional.
