- Product was not ready: That project looks promising but their product was still in development mode. I made a huge sum of investment but the price of the token keeps falling because no utility exists by then. Lose 90% of my portfolio.
- Lesson: Do not invest in a token that doesn't have any utility or whose product is not ready.
A hard lesson was learnt but I will like to correct some of the wrong assumptions you thought contributed to your failure.
It is true that you should invest in a project that must have a utility but some utility doesn't just come into existence at the beginning of the project launched, some carry months to years before you see their utility and how can you tell if the utility will come or not in future, it is only time that can reveal that, look at Solana and Fantom, they both were here at few scents and nobody gives a sh!t about them until they went mainet and then the FOMO began.
- Product was ready but token doesn't have utility: Another project where I am still 50% down. This project is already live and they have a big community but right now their token doesn't have any proper utility so investors keep selling their unlocked token.
- Lesson: Wait for the team to implement any proper utility so that market has demand for that token.
Why invest in a project that can add value to your money, that's just like investing in a meme token that is purely based on speculation and hype.