Episode 320
10 Ways to LOSE Money with NFTs
Influencers often give financial advice that is labeled as "NOT financial advice". However there are 10 ways that will virtually guarantee you LOSE money with NFTs. This list will hopefully help at least one person not lose big. Below is the order of the tops discussed:
- Listening to influencers that solely work on commission
- Not researching founders
- FOMO into the top of the market
- Chasing hype, not fundamentals
- Impatience
- Chasings rarity
- Overleveraging
- Not having any liquidity
- Not protecting assets hardware wallets
- Not staying in the loop
Mentioned:
Sunk cost fallacy: https://youtu.be/AFPgxIJHxsE
