If you’re delving into the world of cryptocurrency investing, it’s essential to learn from the past. Cryptocurrencies have endured their fair share of ups and downs in the last decade, and there are important lessons to be learned from these experiences. In this blog post, we’ll take a closer look at the years between 2014 and 2023 and highlight some of the most significant mistakes that investors made during this time. By understanding these missteps, you can avoid making the same errors and ensure that your cryptocurrency investments stand the test of time. So, let’s dive in and explore the crypto lessons from the past!



The world of cryptocurrency has seen numerous ups and downs. From the early days of Bitcoin when it was worth only a few cents, to the boom of 2017, and today’s market fluctuations – there is one thing that remains constant: the volatility of the market and the painful lessons it has taught us. In this article, we will explore some of the most significant mistakes people have made in the crypto industry and how you can avoid making them.

Lessons Learned

Not Doing Your Own Research

One of the biggest mistakes people make in the cryptocurrency industry is taking other people’s advice without doing their own research. It is essential to understand the technology behind cryptocurrencies and to read the whitepapers of potential investment opportunities before investing your hard-earned money.

FOMO (Fear of Missing Out)

Another common mistake is FOMO or Fear of Missing Out. People tend to invest in cryptocurrency when prices surge, driven by the feeling that they will miss out on significant profits if they do not invest. This often leads to investments in projects that lack substance, and ultimately results in losses.

Investing More Than You Can Afford to Lose

Investing more than you can afford to lose is a critical mistake. It is crucial to allocate funds wisely, and not invest all your savings into the crypto market. It is never wise to risk more than you can afford to lose.

Panic Selling

Panic selling is another big mistake. When the market dips, many people tend to panic and quickly sell their investments at a loss. It is essential to remain calm and understand that the market will always fluctuate. Selling at a loss may result in missed opportunities when the market eventually rebounds.

Not Having A Clear Exit Strategy

Not having a clear exit strategy is another mistake that many people make. It is essential to have a plan for when to sell your investment, whether it’s to take profits or to cut losses. This can help minimize the impact of market fluctuations and ensure that you do not miss out on potential profits.

Recommended Strategies

5% Degen Plays

One of the recommended strategies is to allocate 5% of your portfolio to 5% degen plays. This is a strategy that involves taking risks on speculative investments that have the potential for high returns. However, it’s crucial to keep this portion of your portfolio small, as these types of investments can be risky.

DCA 5×5

DCA or Dollar-Cost Averaging is another strategy that can be utilized to minimize market risk. DCA involves investing a fixed amount of money at specific intervals (such as weekly or monthly) regardless of market conditions. 5×5 means you allocate the same amount of money every week for five weeks. This approach to investing enables you to secure the average cost of your cryptocurrency purchase.


In addition to strategies, a strong mindset is also essential when investing in cryptocurrency. The Daily Stoic is a recommended resource to help develop a resilient mindset that can weather market fluctuations.

Recommended Tools


Ledger is a hardware wallet that allows you to store your cryptocurrency investments offline, away from potential threats like hackers and malware.


StoneBook is another tool that can be used to store cryptocurrency investments. It is a physical stone with a unique address that can be used to store public and private keys.


Sweatcoin is an app that allows you to earn cryptocurrency by walking. It is a fun and easy way to earn cryptocurrency while promoting fitness.

Crypto Education

Simplified crypto education is offered for free through DAN’s website. This resource provides easy-to-understand explanations of various crypto concepts and market analysis.

Additional Recommendations

Crypto IRA

A cryptocurrency IRA is an alternative to traditional retirement accounts that allows you to invest in digital assets like Bitcoin and Ethereum. This investment vehicle can help you diversify your retirement portfolio.

Invest in Multi-Million Dollar Paintings

Another recommended investment opportunity is investing in multi-million dollar paintings. These investments tend to be more stable than cryptocurrency investments and have the added benefit of being aesthetically pleasing.

YouTube Video Recommendation

The YouTube video “Why & When I’m Selling 80% of my Crypto” offers an insightful perspective on the current state of the market and potential investment opportunities.

Twitter Account

The DAN Twitter account is offered as a valuable resource for staying informed on important industry news and developments.


Investing in cryptocurrency can be both exciting and risky. By avoiding common mistakes and utilizing recommended strategies and tools, you can minimize your risk and maximize your potential for earning profits in the crypto industry. However, it’s essential to remember that the opinions expressed in this article are for entertainment purposes only, and are not financial, legal, or tax advice.


  1. Can I invest in cryptocurrency using my traditional IRA or 401(k) plan?
    A. Yes, it’s possible to invest in cryptocurrencies using a self-directed IRA or 401(k) plan.

  2. What is the best strategy for investing in cryptocurrency?
    A. The best strategy is different for each individual. It’s essential to do your research, allocate funds wisely, and have a clear exit strategy in place.

  3. Can I make a lot of money investing in cryptocurrency?
    A. There is potential to make significant profits in the crypto industry, but it’s important to remember that there is also a significant risk involved.

  4. What is FOMO, and how can I avoid it?
    A. FOMO, or fear of missing out, is a common emotion in the crypto industry. To avoid FOMO, it’s essential to do your research, invest in solid projects, and not invest more than you can afford to lose.

  5. Are cryptocurrency investments safe?
    A. All investments come with risks. It’s crucial to research potential investments thoroughly, diversify your portfolio, and only invest what you can afford to lose.

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