The life of a crypto investor is not about roses, at least... if you do not know what you are doing. In this blog post, I share 3 hard lessons about investing in cryptocurrency with you who have taught my friends and me over time.

Do you want to prevent beginners mistakes when investing?

Then this blog post is something for you!

Invest in cryptocurrency lesson 1: the best entry moment

After I started investing in cryptocurrency, I soon learned that there is not one ideal moment of entry and I am very, very happy about it.

I have already seen the evidence for this several times. Only one example: not long after "Bitcoin evangelists" and "Bitcoin gurus" mushroomed and the course of Bitcoin went through the roof (around December 2017) a few friends decided to join me.

If you bet everything on one horse, especially with cryptocurrency where large price fluctuations are the rule rather than the exception, then you can go hard on your beak. Sorry guys!

The moral of this story: asking the best starting point when investing in cryptocurrency is asking the wrong question. The right question is: what are the best entry moments (plural)?

By stepping on several times when you invest in cryptocurrency you spread your risk and you increase the chance of getting a big, fat profit.

Make no mistake: boarding just before or during the course of the race and doing this before a decline takes place is damn difficult! Check for more information about this my blog post with tips for investing in cryptocurrency and especially tips # 4 and # 5.

Lesson 2: Watch out for the rebranding of a crypto coin

If you think after the above story that I am "untouchable" when it comes to investments, then you are wrong because I also make mistakes.

One of my larger mistakes when investing in cryptocurrency has to do with the rebranding of crypto coins. Better said: with the rebranding of Lisk (LSK).

If you have no idea what a rebranding is: a rebranding takes place when a specific crypto mount changes the name and/or the logo, takes a new road, makes a big update that makes the platform quite different or implements a combination of these changes. Examples of rebranding within the crypto world are VeChain (changed to VeChain Thor), Antshares (changed to NEO) and Lisk.

Almost $ 12 dollars in the min PER PIECE ... and let me have just bought a whole number!

What did I do wrong?

I stepped in too late. Way too late. The rebranding was announced in November 2017 and I stepped into the middle of the hype. Ouch! But where did that happen?

DYOR (Do Your Own Research): I had not done enough research myself and based my purchase on the conclusions of other people, undoubtedly Lisk holders who wanted to save a salad from the hype.
Lesson learned: when investing in cryptocurrency, double checking, no, triple checking off things that people call online is very important. Do not make hasty decisions, look at the competition of a coin before you invest in it and always check whether you're going to step into the middle of a certain hype.

Invest in cryptocurrency lesson 3: technology versus profit

Before investing in cryptocurrency, it is good to clarify for yourself which crypto coins really add value. Which coins can achieve something unique in the people's world?

The technology behind a certain cryptocurrency and how it applies in the real world is, in other words, something to pay attention to.

But do you know what is important?

Do not forget why you are doing all this, why you spend so much time investing in cryptocurrency.

I'm not going to make friends with this statement, but that does not bother me as a crypto realist: blockchain is a cool technology, maybe even the future of the internet, but at the end of the day I'm making money . Pegs. Cold, hard cash.

I am not concerned with crypto as a fanboy who wants to shout from the rooftops that Monero is the best privacy coin and therefore XMR affectionately hodes. Even though I find Monero at the time of writing the best cryptocurrency for privacy, that stuff is too expensive for me man.

My budget is not so big that I'm going to get a lot of profit with a crypto coin that is already worth a few hundred dollars the moment I want to get in. Therefore, when investing in cryptocurrency, I look at the added value of a coin and the value of a coin (the price per piece) ...

What are the hard lessons you have learned with investing in cryptocurrency? Share your lessons with us in the comments!