In the high-risk, high-reward market of cryptocurrency, a wrong step often comes at a high cost. In this regard, two seasoned players in the crypto space, @crypto_condom and @DeFiIgnas, shared the painful mistakes they made over the past few years in the realm of cryptocurrencies. Chain News will reveal and organize their key strategies for maintaining profits.
Crypto condom: Subjective Bias May Lead to Missed Opportunities
Having six years of experience in crypto, Crypto condom publicly shared his seven major mistakes during his journey in the crypto space, including:
I’ve been in crypto for a little over 6 years.
Here’s every painful mistake I made (so you don’t have to):
1. Didn’t farm DeFi summer
2. Sold thousands of $ETH at bottom in panic on March 15th, 2020 during the Covid Collapse
3. Locked my $CRV for 4 years at 90c buy-in cost
4.…https://t.co/kIIl5cjXzL
— CryptoCondom (@crypto_condom) May 1, 2025
Missed Mining Opportunities During DeFi Summer
During the market’s bottom in March 2020, panicked and sold thousands of $ETH.
Locked $CRV for four years when the price was $0.9.
Did not sell when $CVX rose to $60.
Ignored meme coins like $TRUMP and $FARTCOIN, thinking they were too silly.
Forgot to sell before Trump’s inauguration.
Sold at the bottom of Trump’s trade tariffs to preserve capital.
Despite continuously missing numerous opportunities, Condom maintained steady profits through a strategy of “frequent profit-taking.” He admitted:
If you keep reflecting on the wealth you missed out on, you’ll soon go crazy. Ultimately, this rocky road of crypto investing has brought him a degree of freedom, medical resources, and financial comfort.
Ignas: Thoughtful Decisions to Preserve Assets
With seven years of experience in DeFi research, Ignas also honestly shared his list of crypto mistakes, especially warning investors to avoid the major pitfall of “hasty trading.” Here are his main mistakes:
I’ve been in crypto for a little over 7 years.
Here’s every painful mistake I made (so you don’t have to):
• Doing transactions while in a hurry (you’ll get rekt)
• HODLing tokens without conviction
• Failing to reevaluate my portfolio when market conditions change
• Being…https://t.co/2k1wvgnTMV
— Ignas | DeFi (@DefiIgnas) May 1, 2025
Overly Hasty Trading or Operations Often Results in Poor Outcomes
Have your own beliefs; don’t HODL without conviction just to go with the flow.
Did not reevaluate his investment portfolio after market changes.
Neglected to research sources of income, which often carries risk.
Locked funds for over a week; in a highly capital-efficient crypto space, this is nearly not worth it.
Invested funds into highly volatile LPs; even with high APY, impermanent loss wiped out profits.
Missed substantial profit-taking opportunities for Ordinals, Runes, and NFTs due to greed.
Rushed to reinvest upon profit; should have switched to USDC and cooled off for a few days.
Even after stepping into major pitfalls like locked Luna/UST, he insists on three principles: “Test new dApps with small amounts,” “Don’t shy away from trying new tools out of fear,” and “Stay curious and keep learning.” After all, opportunities will always arise, and those who can stay in the game longer have a greater chance of winning.
Key to Profit: Mistakes Are Inevitable, But Belief Determines Success
Although Crypto condom and Ignas each experienced different mistakes, they both pointed out a consistent factor for success: “Frequent profit-taking, willingness to trial and error, and maintaining an open mindset for learning.” These attitudes and strategies are the key to their survival and continued profitability in the turbulent world of crypto.
Investing has never been a game without mistakes, but if one can learn from the pain of others, they can save a lot in tuition fees and avoid many unnecessary detours. Whether you are a newcomer yet to enter the market or an OG who has been exploring for years, the experiences of these two seasoned players serve as invaluable navigational indicators.
Risk Warning
Investing in cryptocurrencies involves high risk, with prices potentially experiencing severe fluctuations, and you may lose all your principal. Please assess risks cautiously.