Bitcoin Forum

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again.  ;D

Wow! this is one great site for newbies :D it has a explanation on what not to do and what to do :D its certainly amazing i read it and its new to me too i learn so much things in reading the site. My rank is big but i have not enough knowledge on bitcoin and some of it i have did when i was a newbie >.< i really got shocked on reading it all and what i did really but also i learned that i haven't learned when i was here in this forum :D i really appreciate the site :) Thank you :D

find good to read about it but still there are some better thing should be added like earning ways of bitcoin in every legit style and also some precautions to start your opeenning in the bitcoin work as an newbie .

Nice and well thought out piece of writing.
Some of the mistakes you mentioned are not limited to bitcoin newbies but even pro make these mistakes like Trading any random Altcoin or buying at sudden price rise.
Anyway I appreciate your efforts in putting this up and hope nobody make these mistakes :)

Many wallets has automatic fee functionality. But nowadays even transaction backed by hefty fee (120 satoshi per byte or even more) can get stuck in the Mempool.

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That article was actually quite nice, covered some basic information pretty well. Definitely recommend for any bitcoin newbie.
Of course you can add another 10 basic rules and bitcoin tips, but it is still solid ground to start off your bitcoin journey.

I think not only newbies made mistakes about you've mentioned above but also the users in higher ranks. Even though they are in higher ranks but still they made mistakes. But as you shared this kind of idea well maybe it can be prevented by all users in bitcoin. And it only depends to the users if they want to made that things even they already know what's the result of it

That article was quite helpful not only for newbies but for veterans also it educates readers the pros and cons on how a crypto-currency works.
Basically when starting on a business you need some knowledge first to avoid regrets in the future so you need to research and study the type of business your going to do and when your ready, Try it cause what's the point of all that researching if you dont have any experience.
Trial and error is completely normal when your only a beginner.

The article is good, it's correct on most point newbie want to do especially about faucet and mining bitcoin. When i was new to bitcoin, i thought that 1000 satoshi from faucet is huge, later did i find out that it was not even 0,1 cent. The other thing is mining, i didn't know that the capital you need is not small.

I feel like there is one particular precaution that could be added, avoid this very common scenario:
A newbie has a paper wallet, with some amount of bitcoin on it.
The newbie wants to spend some of them, downloads and installs a desktop or mobile wallet.
The newbie broadcasts a transaction sending part of the coins, the rest are sent to a new address generated by the desktop or mobile wallet.
Believing the leftover coins are still on the paper wallet, the newbie deletes the wallet.
The leftover coins are gone forever.
This is a sad loss that could be prevented by proper education.

I visited at the given link by you , but I didn't find any better thing which should be 100% best for the newbie . Because in my opinion most of the newbie entered in the bitcoin only due to because they want make money in sudden way but hardly they understand perfectly in the starting .
So here instead to explaining about the buy/sell for the bitcoin/altcoin at particular timing of mistake , we should explain them how to understand the system.of bitcoin in better manner thoroughly so that our travel in the bitcoin job goes smoothly .
well good luck for your this topic , but keep in mind that you need small more changes for the better expiations about bitcoin for specially newbie .

Thank you , this article is very useful.
But I remember that Faucet doesn't work like before.

Nice article, this will really help newbies to not burn in bitcoin while starting up with it.  This covers the most basic mistake of a new comer of Bitcoin, most of us were not knowledgeable on the transaction fee and the possible closure of an exchange that is holding our coin in an online wallet.  A must read and share to the newbie.

i was already read it and really good article indeed those things is common mistakes for those who still new for cryptocurrency world but for the last points " I lost my keys, how can I recover them " i think these mistakes not only dominated by the beginner even expert also has already did it

Nice read and thanks for posting. This will help a lot of newbies (including me) to not do this mistakes with bitcoins. I specially like the article on mining bitcoins because a lot of newbie is jumping to mining because they think they can gain a lot of bitcoin as soon as they jump into mining.

Article have tried to cover almost every thing but not all types of mistakes bitcoin newbies used to make can't be listed in 10 points for sure. Many bitcoin newbie end up getting scammed by bitcoin based scam/hyip/ponzi/doubler etc.

This article is directly distracting investors from my future potential project by saying,

.

Lolz, Jokes apart. There is very good material available for the newbies as compared to 4 years ago so it is easy to adopt new terms and techniques for them in less time. As I always give advice to newbies that spend maximum time in reading the available material and then start investing or whatever. I follow this advice very strongly and I won't invest in something new without minimum 10 google searches.

even myself did the mistake to buy bitcoin when price was soaring up and finally left myself in a big problem of price not getting up and finally i dols those bitcoin and had very little on my own.

Yeah its not a bad guide for noobs to read when they get into bitcoin, i would have to agree that when i first started out in bitcoin myself i fell foal of a few of them myself, especially the keeping all my funds at a online wallet, not good   :P

Recommended it to one of my not-so-techie friend and he finds the read a good one and was able to answer some of my questions in relation to that article. It's nice that the writer made sure that he covered some of the basic stuff, especially keeping your coins in a safe place which is really nice to look at.

A pretty specific case, though very interesting.

Newbies are often very eager to get a lot of coins over night and get rich with Bitcoin but that is not that easy as it seems and so they often make big mistakes. So some kind of guidelines for Bitcoin beginers would be great and they can be found even on this forum and sites like you have introduced. Be wise and safe, that is also very important for the begininig.

I did the same too though my friend have some basic questions, but at least now he know how to secure his BTC, and how not to be trapped in buying BTC when its price surges.  He was thinking about to buy some today but after sending him the link of the article, he asked me if Bitcoin price is currently surging, I told him it was, and some dip yesterday. And told him about the ETF hype.  He then decided not to buy and wait till ETF decision is done.  I do not know if it is a wise decision but somehow I agree with him.

That's good article. Actually such a newbie problem can be found in this forum with pretty much same topic, especially about faucet and online wallet.


This should be added! So much topic about that recently, they just want a free fees with fast speed ::)

I just went through the guide. Its really a good site to recommend to newbies. One think what I have to say is it may look like faucet income is very less if you convert in dollars.But if you convert in other currencies like indonesian rupees or other asian countries  its a pretty good money.    

Actually as someone who started with Bitcoin ~1 month ago, I can say that I made most of the mistakes mentioned in this article - signing up for an online wallet, buy after news, try to buy with credit (debit in my case) card repeatedly, considered mining (but to be fair I didn't end up trying), trading cryptocurrencies without having any experience or understanding, spending hours and hours on faucets.  

Pretty much every annoying mistake in the book that someone who's not an idiot could make.

If people are stupid they're pretty likely to give up, and sometimes (not always) that applies to people who are just trying to make money and don't have an understanding of the economy.

I do agree that it should cover fees though, because some of my transactions have taken a damn long time without me having understood why.

That's not a big issue, because faucets were the only trusted earning that newbies make compared to other forms of earning. Initially while starting with bitcoin their expectations wee very high. This cannot be fulfilled in a short, so the same when started with faucets they grew in a better way understanding the difficulties and acts accordingly.

It's true, when we are newbies we see so many satoshis as reward, hundreds, thousands and the newbie thinks he will make a big profit for sure. And start searching for more faucets, but it's not possible to make much profit with that.
The article is nice, interesting points listed there, I don't know if OP is the author, if so, congratulations. Newbies are newbies everywhere, it's a stage of learning.

Can't load your site.

The article  pointed out mistakes not some ways to earn bitcoin and I think it explains so well for us.
There are a lot of precautions to prevent many things that are not desirable for newbies.
Luckily, I've never do such mistakes as a newbie in bitcoin world, learn come first before any decision.

It's not a bad list, but I definitely think that there's not a ton of substance to this list if you're someone who takes a few minutes to research exactly what it is they're getting into before diving head-first into it.

I can see this being of use to some people though, so it might be worth spreading around as someone is bound to learn something from it.

IMO the biggest 2 mistakes are sending transactions with low fees and not reading enough before using bitcoins. The more you read beforehand the less issues you have when you start to use bitcoins.

Well, it just miniguide that mentioned the big picture to avoid some mistakes, not all of it and explain every detail to start using bitcoin, buy/sell and the system of bitcoin which already explained many times by others. Newbies just have to search and read about it, depend on their interests. However, I like this topic and enjoyed read all of it.

Nice tips for newbies, and even pros sometimes forget those tips.


That's a must for the newbie tips. I remember I even sent someone some bitcoins with almost no fee back in 2013 and it never confirmed.

A popular myth, yet incorrect. The truth is that if you access to cheap electricity, you can mine profitably with a single ASIC miner.

Another mistake of newbies is that many of them think bitcoin will make them rich tomorrow.... but realized the roller coaster is hard to accept.

Most of the newbies in bitcoin got scammed in mining sites and they failed with their investments. Some newbies joining signature campaigns were banned because they are spamming in the forum and their posts was mostly non constructive, they always fails in following the rules of the campaign. All those mistakes will make them learn based on their worst experiences, which could make them more mature in bitcoin earning and investing.

Cheap electricity along with mining equipment is a must. To get a single ASIC that gives a good earning requires at least $1500 for purchase. A newbie who can afford could try mining and profit depends upon the electricity consumption charges.

Almost anyone can fly an airplane – or sell and buy. We weren’t born with the skills to do either one, however.

Rich Soon with Bitcoin Faucets lol . I also thought that I could earn bigger and will get rich by using faucets when I was a newbie but then realized that I am just spending my time to earn a few cents every hour . although it was a waste of time but still faucets helps me to learn and explore a lot of things and it pushed me to look for more better ways to earn ;D

anyway, the article is just stating all the mistakes that newbies had been committed and I don't see any guide while reading the entire article . but still thanks for sharing a nice lists ;D

While someone joining the forum in this week is a newbie the truth is we are all newbies in whatever activity we have not done before, in fact I remember that about 6 months ago I changed from a web wallet to electrum,  I was about to send a transaction but I was unable to find where to change the fee and I spent about half an hour trying to find it, so like you see we can be inexperienced in lots of aspects of our lives.

I'm not totally agree with this article. But yes, there are some point that I have to deeply agree with the writer because I was used to be like what he/she say. but there are some, I don't think I have same opinions with. Firstly, I don't think storing bitcoin via online wallet is a mistake of newbie or even more of everyone. Because if you are new, You don't have much bitcoin to maintain your transaction fee, so using online wallet is the most suitable way to start your life in bitcoin world. Of course I agree with his/her idea about "there are no middleman in our transaction in cryptocurrency world" but they (blockchain, coinbase,...) are reliable online wallet so we could feel safe when use.

Article is very nice , Because usually the newbie entered in the bitcoin got much loss due to fear of loss due to down of price .
In your post I like much about the thing that usually most of the newbie who entered in the bitcoin to make profit through the holding bitcoin , but when suddenly the price goes down then they comes in fear and lost thier chances of profit , This is a great point for all the newbie , From your article every newbie will got a better idea to make profit through his patience .

i dont' really agree with the first one, since they are newbie it's better for them to hold the money on coinbase which is insured at least, their computer is not...

i heard many stories of newbie and their account being hacked because they don't know how to secure them locally, and they don't like cold storage apparently, or don't know hot to do it properly...

also about the mining part, you can definitely mine bitcoin, but undirectly with altcoin, but it's better if any still think there is no profit, because we are reaching a bad point there also...

Nice miniguide. Just a few comments I would like to  say:

"Plan a backup and recover strategy of your private keys and addresses. Keep them printed under your mattress. Remember you can build paper wallets and use hardware wallets as valid alternative to software"

You only mentioned how to backup and recover, but I only saw strategy for back-up,
I didn't read any for recovering it. I suggest you can add it in the articel as well.
Just my 2¢.

Here is a site with great tips for beginners. their behalf, I thank and commend your good actions. newbies needed articles like this in order not to make the mistake. the majority of newbies at the start, they do not understand much about Bitcoin, and they are easy to be tempted by the HYIP and Ponzi. Therefore, this article is really very nice

Good article but I think in the first when newbie entered in the bitcoin then he start doing  making profit and lost with very small amount of investment .
So making the mistakes by the newbie is a way to get success in the work of bitcoin earning job .
Because mistake are the only ways to get  a better experience .
Well thanks for such types of site .

In my opinion, this forum is beneficial for newbie/beginners since they can ask questions here to avoid scams. It helps them to find more opportunity in bitcoin currency by reading some discussions here. This forum is a guide not only for newbie but for people who want to depevelop their knowledge.

I just find that newbies to bitcoin do not know what to do with bitcoins once they have them,
maybe it is being scared of losing them or just not knowing what to do with them next.

There should be a crash course in newbie for bitcoin usage.

Failing to find the right earning opportunity and struggling with improper earning methods is the biggest mistakes, I do see many newbies are still doing. I also did mistakes and spend more time with faucets in my earlier days in bitcoin world. Some people are trying mining the non-profitable coins and wasting their time and electricity bill.

Mistakes are common for both experienced and newbie bitcoiners. But I feel it is the responsibility of experience bitcoiners to create a knowledge resource and guiding newbies. I agree this forum is a great knowledge resource but it is not available in an arranged a manner except if a newbie is good in using "search function".

I have seen similar topics in past and it is really humiliating people were repeating same types of mistakes by failing to learn lessons from those topics.

I think this is a very good article!
Every body who is new to bitcoin should have to read it for twenty minutes until he is allowed to proceede.
Of course that is not possible, but it would spare many people unfortunate experience with bitcoins.
And without negative experiences, a lot more newbies would become valuable members of the bitcoin community instead of leaving it quickly again.

Maybe we should bookmark it so we dont scare off newbies to BTC :)

Interesting read. I learned a lot. Thank you for posting!  :)

Good job, but for me, the list missed out on some obvious ones like how to multiply your Bitcoin quickly and getting into HYPES, Cloud mining, Double your Bitcoin etc

Article was indeed helpful for newbies like me. First thing, I'm not really comfortable in trusting keeping all the money on coinbase or other wallet. I might as well trade my bitcoins for cash and withdraw it.

I really do like to know more about gambling in here. I might as well try it earn more money. Yey!  ;D

these days bitcoin is very difficult to earn  :'(

You are right since earning bitcoin is just like earning local fiat and we do know we would really need to work hard in able to earn it and just like on crypto world theres no easy money here.Most newbies do really believe on easy get rich scheme thats why they do easily fall into the traps of scammers.

The op has tried and we have to give him thanks for this instead of looking for loops holes in his article. Were they transactions that were not conclusive? No matter how long it take the transactions are all confirmed, we only need to be a little patients with the system. Op thank you for your article for newbies.

It is as hard to earn bitcoins as it to to earn fiat. There's no difference in it as they both are "money" and has value. If you have a certain skill that can be utilized by someone paying in bitcoins(or even fiat), then you can earn them. If you earn in fiat, its not hard to convert them into bitcoins now a days.

Well some people are really making fun of the mistakes the newbies are doing and I think that article was a 50/50 help and annoyance to them technically speaking instead of making fun on the newbies that are making mistakes we as seniors should be the one who will support and make a good influence for them, we are once a newbie ourselves and a little respect and helping hand can help in this bitcoin community.

Two of the biggest mistake I did back in my newbie days was to firstly think that bitcoin is truly anonymous it took me quite a bit of time to understand that a tx can be easily traced back using blockchain. And secondly using an online wallet, I used blockchain.info for quite a long, since blockchain.info was comparatively safer than coinbase and gave me access to private keys I didn't bother to change it until I had over 1 BTC. 

There are multiple tips on bitcoin for users and this one is also one of them. In almost all of the tips and guides for newbies I observed that there are no perfect tips and guides and there are no perfect information for bitcoin amateurs. With this I disagree with your comment its because there are actually different kind of newbies with different skills and thus some of them may actually like the tip given by the author while some of them will stick to your idea. And so there are no wrong ideas it will depend on the capacity of the newbie to apply it.

newbie always trust some fraud and scam sites and due to their greedy they get trapped in the blackhole of scammers and loss their hard earned money.

the article is good and very inspiring. I just want you to edit some words like "The short answer is don’t do it". I think it is not good for a newbie who has high curiosity about bitcoin. who knows that those newbies has big budget so they can mine. just give an explanation about the difficulty and the profit of being a miner.

I see your point. I'll find a rewording. "dont do it" is to add some drama style

The links was good for me it's informative and very good reminders for all the newbie's in this forum. This indicates that the people behind the topic was concern for the people like me :) due to I'm also a newbie, besides this is for my own good sake in this world of business.

FOMO buying and panic selling LOLZ

It will be useful for those newbie but in my own the worst mistake that i experience when i was not trusting bitcoin and invest more in bitcoin that i thought the price is just jump and crash with the same price back but every year the price is changing and now we are experience to hit$1200 if i know that thing when i was newbie maybe i gain a good profit right now so this is my own mistakes.. and want to inspire other newbie..

You are correct, but at the same time, we need to remind them they also have a responsibility to conduct themselves in the right way, I have seen many newbies and higher ranks, doing stuff that is forbidden in the rules of the forum when confronted about it, they say they did not read the rules, so a minimum should be expected from the members of this forum.

If this thread opened in beginners and help means this would help more newbies how they can be aware the mistakes. Newbies will not save wallet recover phrasal sentence when forgot the password. They are aware of scammers and easily might fake by the scammers around the forum.

That is a pretty interesting read, even for me who has been into bitcoin for over a year now. Reminds me of how stupid I was thinking that faucets can bring some substantial amount in due time. Haha. I was also guilty of two or more items on the list but I have learned to be somewhat a better bitcoiner, so to speak, putting more thought into the security of my account and the transactions I am doing.

You are forgetting the basic concept of bitcoin ,to enable micro transaction as well and without any restriction and with the increasing fees we are coming to a space where micro transactions are negligible and you need to input higher fees with every transactions and remember the price of bitcoin is increasing from its initial stages and transaction charges are increasing along with the price which is a strange mechanism .

Im am totally relate to this when im newbie to bitcoin wayback year 2014, It was like 3-5 hours visiting some tons of faucet sites and when I discovered I earned very small amount and realized I was just wasting my time   ::)

Buying on the pump trend and goes greedy is really a big mistakes too :)

You are right there are instances on which newbies do make follow others words related on a certain coin or bitcoin itself.When its already on price increase rally they do buy already or enter on a high price which is really a mistake or bad idea since price will pullback anytime which would cause negative results and with that they will sell off to cut loses.

Newbie make more mistakes than listed there as they don't understand the market trend and make loss hopefully they'll learn that sooner or later.

Just appreciate his work and lets move on, the link is very informative and every newbie starting on this forum can learn from there as well to complement his/her knowledge. I don't believe in learning without instructions/directions that's why I appreciate the OP so much for the link, newbies will eventually learn but I don't wish form then to learn it the hard way.

I think most newbi very interested in something that is emerging. like buying when prices rise, and most of them are also very often panic when the price falls. although it was down slightly

I liked the "Hi folks, I want to mine Bitcoins" in the article. And it is true most, if not all people strating with bitcoin want to mine it.  Mining  bitcoin is only for th big fishs, those who can make a cosiderable investment, in infrastructures, ect.
And the "Rich soon with Faucets" my God it is the worst thing I have meet online regarding making money/bitcoin. Such a waste of time

It is good article and also it is information thing especially for newbie. But i want to tell, that in signature campaign working is also knowledgeable. Because when i joined signature campaign than i didn't know very well about bitcoin, but working on it and talk in a different section, i learn about bitcoin. So newbie could learn anything about bitcoin when they come in signature campaign.

yEAH! your right pal, So that the community here especially to all newbies must apply this articles. this for their own good sake at all.
and in addition to the topic, up to now even other members make a mistakes like what newbies did.

Nice article.. that's happened to me long time ago.
Im look stupid now  ;D

Awesome list, well done  :D From my side, I would add Gambling. While Gambling is not smart idea regardless payment method, I guess that for some people it's easier to risk stake of BTC than $$$. Someone can say: "Hey, It's just Bitcoins that I earned grinding faucets 24/365. Not a big deal". Actually it IS money, because there are not so much places left in the world where you can't turn coins in to fiat. I remember selling bitcoins through VirWox in 2013 and now there are 3 or 4 online markets in my country ;)

That article would help newbies because many of the newbies didn't know exactly what they are doing when they enter in the world of bitcoin. Even in the wallets where they put their money should be always in their mind that how secure my money if I'll put it into this wallet. So newbies should always think in advance before they make an actions. Because if they lost they're money in that online wallet it can't be back in the pass so I prefer to used cold wallets but they should remember the back up key if you loss the device for recovery because there are some newbies not rewriting or saving the backup key.

Thank for that post. :) This post can be helpful for us newbies on how are we going to deal with bitcoin.

I've read the article and on the number 1 spot is this "Keep all the money on Coinbase or other online wallet".

I'm somehow sure that newbies aren't the one that do this, also many old timers are doing this. They just want to let their coins sleep to their online wallets.

And on the other list I find it funny but I did asked those things before. Read it guys ;D

I think the biggest mistake of Bitcoin newbies is trying to get Bitcoin by following the easy, and at the same time unproductive paths. Many users go straight to faucets or cloud mining, and I think this can cause a great loss of time and money for people who are starting.

for newbie faucet is a great way to get free bitcoin to capital if they don't have the capital, but his mistake is that they want many bitcoin the easy way through the system hyip

Quite a good article and it looks like it's not just only 10 common / main mistake of bitcoin newbies. I wanted to add that I've seeing this throughout the forum that newbies are asking "how to earn big", "how to earn without investing" it's commonly seen throughout the whole forum. By the way, I went through with that feeling too.

That link was very helpful even to me. I'm in bitcoin world for about a year, but still don't know everything about it's technology. I think this information can be good to hear for all newbies and not only.

We aren't talking about biggest mistake of newbies here mate but with the main ones. But I do consider that newbies has the same mistake by thinking that HYIP's and cloud mining as a legit one. And most of those newbies doesn't want to work harder and they just want to invest and earn bitcoins by thinking to invest there.

If you do understand all the list its already mentioned about "how to earn big" aims of a newbie and i do accept too that i was thinking the same thing too when i was a newbie way back then. Yes,its really a good article and should really be read by newbies.

I can vouch your statement is right because when I was a newbie I think HYIPs will give me a fortune with their big return of investment, I only woke up when I lost my investment due to some sites I invested my money with stop paying their investors. Later, I made a deep research and realize that there are a lot of warnings already from this forum about avoiding HYIPs and now I am more matured and still happy my experience brought me to what I am now.

not just for newbies but i guess its very useful to for every people because this is good article. i am the same as you which is don't know much about the technology especially with new technology. maybe with this article, i can search more article and read and who knows i can get more information about the latest update of technology.

yes its not new matter that newbie makes mistakes. and yes mistake is not a mistake when we learn from that instead mistakes are the lifting force that helps us to scale even higher. but well mistake in financial mater is something different as we loss our hard earned money.
Since I never made small mistake in the bitcoin . I made my mistake first time in the yobit.net where I bought some blry and waited for 5 days increase but it didn't increases and finally I got frustrated and I sold them at 30-40% loss .
But with this mistake I learnt that in trading we need patience to make more profit .

It will not be a big thing when you are coming across a mistake for the first time but it will become me a very big issues when you are keep on repeating same mistake. When you are capable of learning out of your mistakes, you will never repeat the same mistake as well you will avoid similar kind of situations too.

Most of the mistakes will be leading to financial losses and very rarely some mistakes end up in loss of time or energy. But when you are considering time is money then it is again a finaicial loss only.

Like I don't know 10 main mistake but few which I had done when I was a newbie.
The first and the most important thing was that I used to not read other posts before posting which lead to me irreverent topics.
Then later on I understood what constructive posts meant. This helped me enroll in Campaigns.
Then if you are involved in trading I would like to aware you about scammers.
First of all see their trust rating. Something written in red means it's a negative trust and you should not trust that person.
Trading with positive trust people is always a recommended option.
And the final mistake which they do is that they make the account and find it boring and then stop it. If they continue to post and keep themselves busy by enrolling themselves in Campaigns they can earn as well as seek some knowledge.

I really enjoyed the article because has not many technical jargon and the writing style of the text is lighthearted with various funny words and expressions so the newcomers do not disappointing  and abandon the idea of bitcoin before they really start to use it. On the other side is useful and maybe not only for newbies but some paragraphs are for the more experienced ones. That is, speaking about trading I did not know that newbies start to trade cryptos in an early stage of their involvement with cryptos and without any experience not only with bitcoins but with alts, too.

Using an online wallet is not a mistake, the problem is that some decide to store large amounts of bitcoin there and then they get angry if they are hacked, using a web wallet as a hot wallet it is fine but keep most of your bitcoin on cold storage.

What you say is true I am with you. I hope that I avoid this 10 mistakes.

Don't take it literally, since newbies are taking that literally and I'm doing it when I was still a new one. Though there are other common mistakes that newbies are making but it wasn't mentioned. The article is good and I didn't thought about this before. Kudos to the author and good thing that there where like this thread that can guide newbies.

It is popular I guess up to know because I did experience that and I even thought that HYIP's will give me financial freedom and it will be a good source. But in the end all of my hopes ended up with the truth. The truth that they are real scams and you will not gain anything from them, instead you will lose everything if you did so.

I wish I had known about these things when I was a newbie, but anyways, it's a very helpful and coherent article, which I think should be recommended to many newbies out there struggling in the bitcoin world. This also reminds me of the time when I first knew about bitcoin, so full of excitement but so innocent ;D I totally remember the faucets thing, like I spent hours and hours on these sites and got like $5 dollars of bitcoin after many days ;D

Well I think the number of newbie right now are just only alt accounts that is why even if they seems like a legit newbie they are not really a newbie, there are some newbies that only have 1 post count then putting a thread that are made by a senior member, it seems that they had known a lot about bitcoin already well, and there are some that highly unlikely to just make a multi account then commits stuffs that are forbidden and break the rules in this forum we should take responsibility ourselves in making somethings like this and take action whether we can for the bitcoin community!

Good article, in first point many people still do that, using online wallet or exchange wallet to store big Bitcoin amount and losing all their balance when the website get hacked. This article will help many newbies in Bitcoin world when they want to learn about Bitcoin.

Don't be too hard on yourself, no one is born knowing everything about the world, we learn by experience, sometimes I would like for that to not be the case but that is just the way things are.

That is true. But if a person reads up about Bitcoin before actually using it, then he can avoid these mistakes.
Better to learn from the mistakes of others, rather than learning from your own mistakes.

I guess the fastest way for a bitcoin newbie to earn bitcoin are the following:

• Start participating to Bitcointalk forum, aim for good forum posting and nice forum post count. Once you achieve "Member" or "Full Member" look for a good signature campaign, and start earning Bitcoin.
• If you have a talent, or good in writing, then do freelancing! Post your service campaign to "Services" section of this forum. And earn Bitcoin money.
• Learn how to trade bitcoin. Trade with caution and do it wisely. This would make your Bitcoin money to double or triple.

My 2 cents ;)

I totally agree with you, For newbies or even to expert in bitcoin. These are the basic ways to earn some bitcoin here. or out of bitcointalk.
Newbie, they can grow their accounts and enrolling into a signature campaign. With skills you can do freelance as you said or offer some service or maybe trade some goods here.
For expert, signature campaign is not enought. Many members here have their ways to earn bitcoin, by trading or gambling or anything else.

actually, this things will always be a reminders to anyone here even your not a newbie anymore, you can always read this as an old member in this thread to refresh our memories about the proper ways to start all over again.

This is a good pointers for everyone who is new to bitcoin. I have my mistakes during the first time I use bitcoin and the fee it charge me becomes double good thing the live support at the casino help me to reverse it. Another thing the newbies need to know is bitcoin is a currency that its value can go up and go down.

#11 sending transactions directly from exchange wallets, especially for things like ICOs where you need to be able to prove wallet/address ownership.

yes that is right to say that practice make man perfect. experience is the key to success and experience can only be gain through spending time in a relevant field. if a person has good experience in his field then it is very easy for him to make money from there. and if he do ot have any experience then he will certainly feel difficult to show effective result. so i think if we want to be more effective in our field so we need to get experience first.

True talk and I agree with you...infacts its a must read..and share...

That article is very nice and it can help a lot for the newbies or those users who are just getting started and they don't have no idea on what will happen if they are just trusting their instinct and not reading or studying the bitcoin. I also did those top 10 main mistakes of a newbies and i admit that i hope i already knew those things before i started in bitcoin.

That's right when I just heard about bitcoin all this information made pain in my head and seemed hard to understand, but with time I leant bitcoin and continue to do that, so now I can give even some advices to those people who just joined.

Most of the mistakes are caused by ignorance, and I cant blame anyone who has the anxiousness to earn money quickly. Most bitcoin expert were anxious at the beginning, they learn patience with time. Everyone will not continue to be newbie and everyone should keep learning something new almost every time on bitcoin and blockchain technology. The faucet idea was so faulted as waste of time just like friend said about his experience with bitcoin

If you are a newbie the common mistake you can do is spending your bitcoin on gambling. Because like me and most of people try bitcoin for gambling because they knew it is the faster way to earn more. But if you try gambling it is to risky and not worth it. If you are not a newbie its better to try forum and do signature campaign rather than to gamble. Dont consider gambling at first place and start reading in forum to gain knowledge about bitcoin inorder to help you to earn bitcoin.

It's good for newbie guideline, I'm can add my additional explanation on my local thread in order to prevent any bad or unwanted things
For example : investing on any ponzi scheme


Experience is the best teacher , when they know their mistake and the consequence , they will learn until they advanced to the next level

Wow that part about mining is really eye opening. Most Information online about mining are indeed disgraceful. People just lie for the fun of lying? I still prefer to be poor than be a crook.

Great article bro.

But you are such a pessimist. Article too one-sided but honest

Your statement was true and correct, but there something which I like to add, by making mistake for the record, all of us here in this forum can make a mistakes its just came only that those wrong deeds most often came from the newbies, but its okay the important is we learn form our mistakes.

mining scam now become an arena for some bad people because many hyip sites and ponzi claiming to be a mining investment so that they can get a lot of users and deceived newbie very easily deceived

Long back itself the same has been taking place. Ponzi schemes and scam websites easily trap newbies. They believe that through bitcoin we can earn in a short term. The same mindset makes them easily accept the HYIP and invest big. The reality will be understood by them once they loss it.

Well some mistake will be certainly be make by some newbies and even if they are not new to bitcoin they can certainly make mistakes I think it is best to read more about certain knowledge here in the forum ask for help, I really think that most people here are kind and helping with newbies that is why put that in you daily things to do and in no time you would learn much for the benefit in earning BTC.

Investing in hyip's or connecting any Ponzi scheme's website certainly one of the most common mistake of a newbie because they have not certainly good knowledge about investment models and working tendency to get profit. And yes, reality is different understood by losing it.

It is really very useful and helpful post as well. You have mentioned that mistakes are done by the Bitcoin newbies. But i think it is not right. Mistakes can be done by anyone. And people learn from mistakes. So as you have mentioned many useful point regarding to mistakes of bitcoins, i think it is going to be very useful for all the members here.
Personally it helped me a lot for understanding bitcoin from a new way. Thanks bro for your valuable article.

Great article for us, I will keep holding instead of short term trading, long term holding is the most profitable thing, we don't need to do anything.

It seems good and it's informative and helpful for newbies but i want to add one important thing and that is low fee for newbie, most of the companies don't want newbie for their company and the companies who allow newbies to join their campaign, they give them very low prices. So most of the newbie think that bitcoin is not good for them because of low fee so add the point that they earn more money by promoting to higher rank.

Keeping money on Coinbase is a very bad idea considering all the bad publicity that they are receiving from the press. Coinbase isn't a global exchange and they like to shut down their connection without much notice and if the person who doesn't use email as much wanted to login to their account a few years after creating their account and sending money to it -they would find their account closed and all their money gone.

The article has good points.

The article is quite rubbish actually because they say it's not worth to keep bitcoins in wallet like coinbase while even the official bitcoins site links coinbase for keeping bitcoins.
Another point I don't agree is : How can I revoke a wrong payment
Because even if you send a payment to wrong paypal id you cannot reverse it unless you make false claims and take it back.

the point is to remain calm and patient even if prices continue to fall. it is owned by many users not only a newbie but most users are often impatient and so selling or buying is not appropriate to the circumstances

yep newbies are prone to panic as the price changes, especially when down they would rush to take action and easily ptutus discouraged, newbies don't have much experience to deal with this I think needed a experience so that newbies will be familiar

This is true only if you are looking for passive way to make money, but with short term/day trading you can make a lot even with only 1 bitcoin if you can make proper move on each price swing. But newbies always panic on small dump/correction so it is good for them to keep holding rather than trying to make profit in price swings.  ;)

Having a good capital will give you a liberty to do long term investment, that is easy if you are investing in bitcoin because the speculation of the many is this coin will be the most dominant currency in the future and along with that it will increase the value substantially which will benefit our investment.

"How can I REVOKE a wrong payment"
"Rich soon with faucets"

I ever do that when I first use bitcoin :D I think it's natural that experienced by newbie because they do not recognize bitcoin, I'm sure a mistake like that was once done on average people new one using bitcoin. Good article, friend. I think a newbie who wants to use bitcoin can read this article.

Great article very useful for those newbie member even for me though :D I have read similar article but not clearly the article hard to understood as newbie members.
Thanks for the article, may I copied some of infromation there for my little blog ;)

Thanks for sharing it, I realised that I make a lot of mistakes like storing all my BTC on coinbase. I also thinkt that alternative currencies have a great potential. And indeed faucets are not a reliable source of BTC income.

I just smiled at the "Rich soon with Faucets." on one of the  article. I know I am not the only one who used faucets :D Jumping from faucets to another is fun! Thanks for this article its reminding me of the past :) ,very educational also and I do relate with the topics.

I think hold also need a couple of things you should do before selling make sure that the highest price
so you do not regret it because it is very possible after you sell even price be higher

We can not rebuke any newbies because of the wrong things they are doing with bitcoin we can not certainly put the blame on the newbies I think we should blame ourselves, I think we as seniors should be the one to teach and make them progress in getting much higher with bitcoin any little question newbies would ask here we as seniors would try our best in answering it,

Great link, here is another one too, https://bitcoin.org/en/you-need-to-know

I'm glad I saw this one because it gives some info about taxes and regulations...^

Nice guide. For newbies, it is better to stay longer in newbie section and learn as much as you can before engaging in any bitcoin transactions. It will save you from a lot of trouble in the future.

Bitcoin is easily gettable online and therefore many newbies got bitcoins. But many  sites exploit this and make attractive sites where they can double in days or hours. This way newbies in bitcoin invest in scam schemes and eventually lost their money.
This is only one factor i discuss here. There are a lot of other mistakes which are bring done by newcomers in bitcoin world.

May i ask you where you get bitcoin easily online?I do always work hard to earn bitcoin online and its not really as you know thats why i do really like to know on how to earn bitcoin so easily that most newbies do :) If you are talking about faucet amounts then its not that big that could able to make them invest on those scam websites.

I don't find any place from where you can get bitcoins easily and if that would be a case then everyone would be holding some great amount of bitcoins in their wallet and its very hard even to earn even a small amount of bitcoins nowadays.

Most common mistakes made by newbies is that either they will go for gambling to multiply their bitcoins quick or invest in any doubler or cloud mining sites hoping to make it big in quick time but they forget that there is no short cut to make money and end up loosing everything in the end and as a newbie even I have committed the same mistake in the past.

I agree that holding is the best way to get the most out of Bitcoin if you do not know how to daytrade. The only problem here is when to time the highest possible price if you wanted to exit or convert your Bitcoin back to fiat money.  But I think a x5 x10 profit is not bad but I guess it really needs a very long time before Bitcon can reach  $5,000.

The first mistake mentioned there is actually not true, being a newbie you cannot expect user to just download the wallet and keep the bitcoins there, of course they would use the services to make their task easier.

I don't know how using a service that hasn't scammed yet is a mistake ( as they say using coinbase is a mistake )

If you are waiting to sell your bitcoins at the price of $5000 then you really need to wait for a long time as we don't know whether it will actually happen or not and if it happens then what would be the exact time to achieve it so if you are looking to make short term profits then its always good to go for altcoin trades where you can take advantage of every pump and dump in order to make good regular profits.

As newbie in Bitcoin I always thinks that I am going to make a great deal of money in faucets I later discovered that earning satoshi from faucets can be time consuming, I later studied  learned more information about bitcoins e.g mining,trading,filling capthers offering services all these can increase daily earnings.

although the bitcoin has the potential to reach to that price, but i think it will take a lot of time. i think it will take decades to reach to that level, because the price of bitcoin is trading in 1235 USD in current time.

I agree and the article is just fine but here you are wrong mate because when you are new to bitcoins then you look for ways to get some free bitcoins so to know how they work. While yeah I agree most of the newbies have a myth that they can earn a lot with captchas and its "learn with faucets " I guess in reality.

Yes of course i agree with that. We need to keep our money safe in our coinbase or in our online wallet because, these is very important thing that we need to do , there are lot of scammers in this forum. So beware of those scammers. 🖐

This should read every newbie. I made some of this mistakes, and I has luck cause I made mistakes with very low amounts so that didn't hurt me so badly. Be aware that newbies have two sides, one part of them are really newbies in blockchain technology, others are hidden scammers, and we as community need to be aware of that fact. I had bad situation with reputable member so I know what I'm talking about.

I'm ever got scam when I invest on golden cow when I knew bitcoin earlier. Try to invest 0.05 and expected return 0.075 in a week but I'm not aware that HYIP/Ponzi are behind of that scene. I

Identify scammer also difficult things for example : reputable escrow Maidak become scammer although he had hundred positive trust

Lovely piece here. Especially about the faucets. There is no bigger waste of time than faucets

i think it is too much important for a newbie to have good knowledge about bitcoin and trading if he is interested in bitcoin trading, or want to invest their money in trading alt coins.

yes that is a fact that one can get a very limited money from faucets, and there it is just the wasting of time. it think the best option is to invest bitcoin in alt coin and make good profit from there in a very very limited time.

This article was very appreciated particularly for the newbies, I think you gave this things because many of the newbies are  being abused here some times, most of the newbies getting losses of money in the beginning. Nice dude, even the old member here in the forum will also got learn from it. God bless you pal :)

Bitcoin Faucets are a nice source of income if the drips are used in a wise manner. I've noticed people building faucet bots that filled in Captcha's automatically and they would just collect the coins that they made and cashout whenever they could.
That's an easy money technique that someone could use on the side without doing much work.
I think that you'd be pretty surprised at the amount of people that are using Bitcoin Faucet bots online.

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

Good articles for newbies man, nicely put.
So are these bots actually available to buy in the market too? I can imagine them being very profitable if they work.

[quote author=shamzblueworld link=topic=1805523.msg18339999#msg18339999
So are these bots actually available to buy in the market too? I can imagine them being very profitable if they work.
[/quote]

These bots are for sale of course, and you can make one for yourself in simple code. The thing is, why waste time creating a bot for faucets when you can learn to create bots for trades so that you would be able to get more profits in the long run.

Not all in there are true there are times that commonly mistake of newbies they will learned from that mistake while they having a good experience encountering their mistakes. Like what i did when im newbie

The only mistake that I can think off, is giving up, I personally though bitcoin was a cool idea at first and was exited to learn more about it, but when I came to the part where I wanted to earn the only thing that I have found were faucets that don’t pay that much and this was like back in 2010 when bitcoin was still a fresh thing, so Imagine if I kept searching for a way I would have got so much bitcoin right now.

Persistence on learning about bitcoin would be really needed and as a human its normal for us to search anytime for more better methods or ways on earning more bitcoin.Yes,its very hard from the very start since we are just starting but still okay because we do gradually increases our knowledge which would lead us to more valuable informations to seek out new ways to income.

I have some ideas why newbies makes mistakes in bitcoin, In my experienced when I learned bitcoins is great, I am easily being greedy to earn so when someone offer's me a high income bitcoin I fall for that, then it became scam.. Some newbies are likely want to earn free without investing, like going to bitcoin faucets paid to click's free offers, But then they are wasting there time there, It most likely the owner of the faucets earn more if you view their advertisement or  been click. I think today I'm still newbie for some reason i get scam again and again.

The first mistake of beginners in bitcoin is their view about Bitcoin. They often assume that
this cryptocurrency (Bitcoin) is a scam. Yeah, when I first know about bitcoin I'm also like it.
Because I know of bitcoin from the MMMG. After I joined this forum I'm will be know that Bitcoin is a Cryptocurrency.

Very few users having a similar thinking that bitcoin and other cryptocurrencies were scam. In my opinion beginners in bitcoin have a thinking of being rich through bitcoin in a short time period. Based on this easily gets​trapped into several Ponzi schemes and losses. Such an activity creates an negative thought about bitcoin in their minds.

Yes you are right. Scammers attract newcomers with bright advertising offers. But in fact they will only win losses.
Newbies should read cognitive and normal forums. Will make this forum. Here will help to understand

This is one important point for a newbie. much going wrong perception for users who are new to bitcoin.
I think this is very helpful, especially if this article can be distributed to people.

I agree with you, it has been very useful and was a good read for those who are not that computer literate. I sent the link to one of my cousin who was interested in bitcoin, I gave her that link and said it was very helpful and easy to understand. It was a helpful guide for those newbies, thanks to the writer.

when a newbie come to hear about crypto world he hear about bitcoin and through bitcoin he come to crypto world as it is a more reliable currency and if they get the knowledge about bitcoin from an expert person and he explain everything in good way then he will not consider it as scam and if someone will give only incomplete info about bitcoin then they will doubt on it and will consider it as scam and other coins too.

That is why we should help newbies the right way so they can not be victimize by this scammers and as seniors I think we can really make a stop in the wrong doings of newbies with their bitcoin and start in taking some actions by showing them the right way! I know showing faucets is a waste of time but they are newbies and I think learning how to transact with your bitcoin wallet is a thing they need to learn first and getting their first bitcoin to get them motivated I thing that is the role faucets have!

Well, this is a very good article, even for those who have been long in bitcoin. well, especially when people are first exposed to bitcoin, would be very easy to believe in the sites are so many scam sites that promise profits in a very short time.

I went through the link. But I have a question. How else can I store my Bitcoin apart from the online bitcoin wallets like coinbase and blockchain? is there a way I can store my Bitcoin offline? Please if there is, I'll like to know. Thanks.

Never put your bitcoins on online wallets or exchange sites as there is risk of loosing your coins as it can be hacked by the hackers so I suggest you to use electrum wallet to save your bitcoins as its very safe and secure and its very safe too.

Obviously, the captcha bot is something great for all faucet site, but it doesnt make sense to even try it manually.
Moreover, you need to have coding experience / be a coder to build some automated programme like that, im sure it is not so easy as it looks, because that could pretty much generate never-ending income- obviously in case of staying in secret, but I doubt that the faucet devs would not know about this for a long time.

Im pretty sure that most of newbies mistakes are putting their own money ( converted to btc before that ) into particular sites like HYIP, cloudmining, ponzi's, MLM etc.
In my opinion, as a newbie in this cryptocurrency world you should totally stay away of investing, unless you want to lose your money.
First educate and gain knowledge about bitcoin and cryptos generally, then start thinking how can you monetize your abilities.

Newbies are very much addicted to make quick money and for the same reason they start visiting gambling sites hoping to double their coins in a single day but usually they end up loosing and this is the most common mistake I have seen so far committed by newbies.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

Well gambling has nothing with bitcoin newbie mistakes, in this article its very nice explained common mistakes of some beginner and I agree with writer. 2 years ago I also thought that I can be rich with faucets, trading with crypto also was something I first time saw here, I kept my money at online wallet. But yes people think they can gamble the way trough, its not easy I know because I gamble every day, but generally some people win nice amounts with gambling, I made more bitcoins with gambling then with anything else.
Good article, I hope there will be more like this one.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

If you are using multibit wallet then you will find the same fees even at this stage and you cannot add higher fees as they don't have any option to add higher fees and in that case it may take even 2 days for the transaction to get confirm and that is really annoying.

Most of this newbie mistake is what I have similarly have done to be honest  ;D . In fact most of them are about earning more Bitcoin as usual as Newbies have the wrong perception that Bitcoin is an easy money that it is a type of currency that can easily be accumulated online or through mining. Mentioning about Mining I almost have bought a rig just for it but luckily I have read an article about that I won't accumulate my profit by just a regular mining rig with graphics card.

yes that is a big problem which must be solve on priority basis i think it is now creating problem for the people. i think there must have a proper mechanism for the increasing the transaction fee.

If you want to get rid of this problem then add higher fees and every thing will be fine as I don't think that its an big issue as people who are earning bitcoins are willing to wait even if it takes some time for transaction to get confirmed.

The most important thing is: BTC is not as private as you think, via blockchain can determine who the sender
Thanks

Yeah I agree with you. Credits to the one who started this thread. I hope newbies like me will be able to read this before pursuing on our journey here.  :)

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That is actually so relatable for me. I have so many friends that were introduced to Bitcoin by me, along with others, and they always do shit like this. I have had so many people come up to me and ask, "Should I mine Bitcoin?". And they are sitting there with some crappy laptop. I will definitely recommend this website to them, thanks for sharing it with us.

Yes that's right. But everyone have a mistakes first before figuring out what they have been mistaken. People should learn to make things right before moving up to the next.

Definitely , but people should learn their mistake in order for them to improve themselves. Many bitcoiners out there once been mistaken but now they are millionaire because they have learn from there mistakes.

Yes if I read an article like this before maybe I do not try or take a chance on gambling. Because just like the most of people who get onto bitcoin I first try gambling using it. At first I thought that I will earn form gambling but when I started on reading on forum and doing ignature campaign that is the time I stop considering gambling and just focus on my signature campaign. Its to risky to gamble my earning instead I do trading so my earning improved and doubled.

i have an experience lke that,i first use bitcoin, and know bitcoin could give us money, I started a lot of searching for information on the internet about how to obtain bitcoin with quickly, and fnally, gambling be an option for me to try, I could get the money from gambling, and I keep repeating it, I buy something from  the it money, and one day I realized, I was often lost gsmbling and only a couple of wins, yes, I think the most common mistake made by newbie is that they are too eager to get money quickly, by selecting gambling. and possibly another mistake newbie is that they do not learn about btcoin as a whole, that they can get bitcoin in many ways, ..

Nice reading, there are actually some good tips in there.

The one about sellling all your Bitcoin because there is now dudecoin was pretty funny and I can just see people doing that. I could never imagine another coin becoming popular so that was never a temptation for me but I can see how somebody might have an issue with that especially if they are doing trading and think the price is going to go up and are later planning to trade it back to bitcoin.

Sometimes a mature person also make mistakes not only newbie can mistake but also a mature member of bitcoin make mistake.

It looks great and the article is very informative not only for newbies, also for higher rank members. Some problems that you mentioned in an article is not only related to newbie like lost their private key, many high rank members are also facing these problems just because of lack of knowledge.

Nice reading. This will help me to explain bitcoin better with my friends.

Mature doesn't mean experienced, but the newbie is clearly inexperienced. It's better to prevent those mistakes by at least reading someone's experiences instead of experiencing it directly. It'll not waste your time and efforts because you can learn without the needs of struggling first, it's a smart way to improve yourself.

The majority of bitcoin millionaires as far as I know are the early birds that got the right timing while investing into bitcoin and later gain a high profit, well, they're not making some mistakes and I'm afraid that we can't learn from it because this chance seems to come once forever.

This is was a very good tip for the newbie like me for things to do and not to do.
thanks anyway for this matter, it will be a big help for me to apply this things while
in the stage of learning here.

Firstly newbies always search how to get free bitcoin rather than start buying bitcoin and getting used to it. Since its practically not easily available to get free so people waste lot of time on those faucets, gambling etc and end up in a loss.

Those mistakes are right because most of the mistakes on the list, i experienced that like buying a lot of coins or altcoins when the price goes up or a news just launched, this is one of the my difficulties about bitcoin because until now i often do that but some of that greedy moves lead to me to gain profit unlike in the old days that i was always late.

We can really not say it is a mistake, I think that is human nature, we just want to gain more bitcoin and often time don't really think the consequences on what may happen if we done it, I think that is the difficulty in having no though on what will happen if you just do it and not planning it ahead! and I really think it is really hard in predicting any movements of bitcoin in the past, 

Buying won't be possible for everyone and that  is the reason they start looking for free bitcoins which they can get from faucet sites but the payouts is too low but they don't have any other choice of earning bitcoins at that stage so I don't think that its a mistake to spend time on faucet sites.

I think it's not a mistake of newbies, most of the newbies aren't that wealthy to buy bitcoins. And since they are newbies they are still skeptical with bitcoin so they want to make sure before investing on it. And the most popular mistake of newbies are they keep on joining HYIP's thinking that they can earn their legit but they are not aware that it's wrong.

One of the biggest mistakes newbie will commit is investing lots of their bitcoins into some site called cloud mining.
And also bitcoin gambling is a very bad start when you've started using bitcoin, gambling is just for rich people who just wants to have fun and nothing to spend with their money.

 I think everyone went through that stage but lingering there for too long is the real mistake. Once you get the hang of bitcoin, you should move on to better way of earning bitcoin. Collecting dust will just make the content of your wallet prone to higher fees because of high bytes input.

Yeah. Newbies are not aware whether they are investing in a legitimate or scam site. They are blind by the big return and profit. Those are the things that Ponzi sites are targeting. They are so eager to grow their Bitcoins fast and they are not patient to wait for the right time for it. Instead of growing their Bitcoin, it just makes their money disappear.

In addition, one another mistake I see is those newbies who are joining this forum thinking they can earn money from this forum without investment instantly. Thus, there are lots of SPAM threads and unconstructive posts appearing in this forum. Take note that it takes 1-2 years of ranking your account before you can earn a decent amount of Bitcoins thru Signature Campaigns.

Gambling is an addiction and getting out of it is not that anyone can do. Cloud mining is not that famous right now and people are understanding that getting ROI is not possible. The mistakes newbies are doing these days is that they want to get profit in a day or two and in that greed they will invest money in Hyips or Ponzi schemes.

At the beginning every user has the same thinking of making big money through bitcoin in the form of gambling wins, trading, investment and so on. This makes them get trapped into such cloud investment gateways that quote big profit on their investment which is not at a possible one as quoted above.

Great article. Tho i am not sure that all of this are the most common mistake for a newbie. But yeah most of it hurt mh butt haha realizing that i was doing this things before when i started

I think gambling is not the problem, the problem is on those people who use it in a wrong way and those people who abuse it. Gambling is for entertainment and also for profitable activities( if you have enough luck).

True i just getting started and my friend do a transaction for me and i was so frustrated for the receiving message that take almost 6hours i thought that i already get scam by my friend with that problem.

They are just a newbie, they don't have the money to buy bitcoins, I mean, most of the newbie here don't have the money to buy one, that is why they want to know bitcoin to earn money through it. But it would be better if you are going to buy bitcoin and hold it in your wallet 'till the right time comes when you could withdraw it.

We've been all there, when we were just earning bitcoin through FAUCETS, and other HYIPs out there, we didn't know this Forum that time that is why, so, we don't have to blame the newbies if they do FAUCETS.

I'd say one of the weirdest things on Bitcoin for someone that was new, and this is a story of myself at one point, was the point where you're able to set the amount of money you pay for the TX fee and you don't really know what you're doing so you may fuck this up and set it low. Unknowing to you, if you do set it low your transaction could never be confirmed and then you have to figure out how to reset it and such.

Kinda weird, though I do hope new people are using web wallets (I know less secure) as they're promoted to set payment for tx fees based on how quick they want it to go through.

Scamming is also pretty high on here relating to newbs as they're so used to using currencies that they can get back in a worst case scenario kind of thing.

This is very specific, but can turn into a nightmare if we don't be careful.
This depends on the wallet being used. I believe Core and Electrum use a new change address every time, while Multibit Classic returns the change to one of the existing addresses. (I may be wrong)

Interesting point to note.

It was informative. And I will put down a list of 10 main mistakes, from my perspective:

1. Wasting your coins in margin trading
2. Losing the private keys to your wallet
3. Investing your coins in ponzi schemes
4. Not enabling 2FA in your online wallet
5. Storing your coins in exchange sites
6. Investing your BTC in alts
7. Not making backups of your wallet
8. Accessing your wallet from a public computer
9. Converting your coins to fiat
10. Gambling

Haha! I have been guilty of ALL of these things! Add a 11. Buying old miners 'cheap' when drunk and not thinking of ROI.

This was really a helpful article, I gained a lot of useful information on this one. I was thinking about doing mining and trying faucets but when I read this, I totally understand that I shouldn't, because after reading the part where it stated about mining and faucets, the odds will not favor me. I will just waste my time trying new things cause I lack some essentials that are required to be successful in that specific area.

Yes don't try faucet and mining because even faucet is free, it will take a lot of time from you to just earn at least 100k satoshi while mining will cost you a lot of money to provide the things you need like mining rigs and other a lot more like expensive electricity bills and ventilation for the hardwares. It is best to just buy and hold bitcoin while you are studying the best source of income.

I agree, I'm also a newbie that doesn't have enough money to buy my own bitcoin. If only I have enough money or other source of income, I will sure buy bitcoin and then keep it until the right moment. But for now, I'm just earning bitcoin through signature campaigns and making my rank higher so that I will earn bitcoin a lot more better.

You should consider first a constructive good quality post I think that is the first time you need to keep in mind because if you are not considering it good paying signature campaign will not accept you, and your post should be on topic because there are moderators that will delete your post or give you a warning for posting in the wrong topic page.

Faucets or gambling are no bad for the Newbie to start with bitcoin but the thing which almost every Newbie misses here is that theydo not pay attention on learning on how to earn bitcoins and try to experiment. If they first focus on learning , even from you tube videos etc, they can save themselves from a lot of scams being run online via bitcoins.

Not a noob anymore, but at some point in time, I can honestly say that I've made each one of the mistakes outlined in the article that the OP posted, except for keeping my coins in a hot wallet. I was introduced to bitcoin by a friend who made it certain that it was absolutely imperative that I don't store my coins in a wallet online, so I listened.

Even after acquiring some btc, I entered the faucet world, and started trading for shitcoins... I did fairly well with following the altcoin threads here, and listening to the technology behind an announced coin, and I thought I knew when the right time to buy was. I thought I was making a killing on the short sales, but when I tallied up my profit over the week, and averaged out the hours that I put into monitoring my buys and sells, it was well under what I make from my "day job", if you will.

I got fucked with doublers and HYIPs; won't ever take that risk again.

Gambling, I'm still down 4.4BTC from it. So fuck gambling and dice-rolling ha.

Bitcoin is fun because it's so new, and especially because it's gone up almost 7x since I got in. The growth is fun to track, and at a certain point in time, I was hellbent on creating a website where I could teach newbies how to acquire Bitcoin for free, and how to maximize it's earnings for itself. The problem is that I started so late, with such low volume, that Bitcoin never became an alternative to my real life work.

This is a good read, though I would say that it is quite hard to read as there is not much formatting that would make the read easy on the eyes. Anyway, about content though, it is nice to read as it warns newbies about mistakes they are about to take. I had done most of these and would have avoided it if I was able to read this.

I would say that trading or gambling are no bad for the Newbie to start with bitcoin in the case if they have enough money to spend for it and can afford to loose it.
If they can invest only money they need for everyday life, food, bills etc. than I don't recommend it.
In such case, it's much better if they collect free faucets or join signature campaign.
In the mean time, they should learn about bitcoin.

Yep. Newbies are more excited to earn bitcoin rather than educating themselves first. Some earn bitcoin but later on they will realize that they have been wasting their time with faucets who pay a little actually which they don't know and there are things which pay more so in the end they just regret wasting their time and energy which they can use it in a much profitable way. So it is important to do some research first. to learn and educate yourself before proceeding to anything.

In my opinion, the first mistake that I notice that newbies make is that they think they still can earn with mining. They ask questions, make topics that are already done or meaning have been answered already. It's very easy to think that you can do that but you just have to read first in order to see that there is something that can be done with bitcoin and you could try to explain it to them how it works, over and over again. They have to know what the basics are first.

Yes i dont realize it recently and then i just get it that a satoshi is different from bitcoin and mbtc is something that all newbies need to understand about the bitcoin because they will be confused in this topic.

I don't think that's the first thing that newbies are thinking. I think the most popular mistake of newbies is that when they started to claim satoshi's through faucets, they are thinking that it will always be the best way to earn bitcoins. But we know that it is not and it's just a waste of time if you are already had long time in bitcoin.

Knowing there is more in bitcoin than using faucets and there are more better than it, we can try signature campaign once our account qualified in a chosen campaign and do trading too. Using faucets were practiced ever since to be used by the newbies to have some capital for bitcoin activities though its too small and time consuming.

One of the newbie mistakes i can relate to was thinking you can get rich soon using faucets by investing a lot of time and effort in them but boy were we wrong :P

This is not only a newbie mistake because most people still think it is...can not blame them, we were all at one time entangled to believe it was

Signature campaigns are very hit and miss though, a lot of them don't have decent pay rates but there are some that are very good. I don't focus a lot on the technical aspects of it now that I'm at a Sr.M position so most people don't really have varying rates, but for anyone below this it looks like just a mess of information and squeezing out the extra few cents per week.
I remember when I used to use faucets and I thought I was making a lot when I was just gathering peanuts.

It is a common mistake by newbies that they enter a hyped up coin in an exchange like Yobit and end up being a bag holder and the initial plan would be to learn trading and to take advantage of the price bubble but the sad part is that those coins will never have any movement and then the biggest issue i know people will encounter is forgetting the password and passphrase. You cannot make any coins through gambling ,but if you are lucky you might double or get busted.

The article is quite accurate. I remember trying out multiple faucets, only to find out I have to accumulate like, 200k satoshis first before I get a payout. Then when I checked how much that would be in my currency, I was really pissed off. That's when I realized that save for buying bitcoins or working for them, there's really not much an individual can do to accumulate bitcoins.

Selling out is also a mistake I've made in the past. Anticipating a plunge, I sold some BTC. I was proved wrong and so is stuck with fiat in an exchange.

One of the common mistake of newbies like me is spamming threads, and posting nonsense :)

They can, but not with the bitcoin mining (asics), if they gpu mine shitcoins and convert to bitcoin they can earn something and also learn in the process.

Biggest mistake is probably not having patience.
When I started I would buy Bitcoin and pay high fees because I wanted coins, waste time at faucets because I wanted dust,
and sell coins when the price dropped a few percent because I got nervous.

If you take a long-term approach and realize that it takes months or years to actually make money in crypto,
you will be more well informed and make better decisions. Read threads, research developer history etc. Learn about stock market trading because many of the same principles apply.

Good article, especially I liked the parts on trading altcoins and on using faucets. Indeed you can lose a lot of money with the former, if you have no experience or if you think you have a magic strategy, and you can lose a lot of your time with the latter since nowadays the faucets mostly give you $0.001 per hour or even less. Visiting 200 faucets to earn just $0.2 would be a very absurd thing to do.

I think the most common mistakes made by newbies is they easily get attracted towards gambling to multiply their bitcoins in quick time but end up loosing everything and apart from that they also invest in online sites without doing any research.

Great point on the credit card! Those fees are so ridiculous, that it's much better just to sign up to a real exchange like Coinbase.

Investing money in doubler sites, cloud mining sites are the most common mistakes committed by newbies and majority of them will also get addicted to gambling to make quick money but end up loosing every thing at the end of the day.

That one is a true statement that when i started using faucets a couple of years back ,1000 sat was the minimum amount we could get through them and the price of bitcoin was really low around $260 and i did consider faucets as huge amounts and i knew if they could shell out that much how much they are making in order to give away coins for free and that was an eureka moment. :D

I agree, it's a common mistake because newbies are lack of knowledge about those scams. And I'm one of them before, I thought that it's a good way to earn bitcoin and I believed on it but in the end I was frustrated and I did some googling around and I found out that all of them are scams and right now we should warn the new ones.

My favorite newbie mistake: "heyyy guys how much money an i make mining ___ (eth/zec atm)???" Everyone tells them to just buy BTC/alts, but they try to mine anyway.

But the network does need miners, so I won't complain.

And people will never learn! I still see new threads about cloud mining sites, doubling sites, people are asking which site is good for that, and even they get answers that this sites are just scamming people they are continuing with using them without noticing our word's.
Gambling is something else, don't mix gambling and cloud mining site. If you have skills and knowledge, with good bankroll there is high chance for a player to make some profit with gambling.

That problem cant be solved unless everyone realized that they will not earn any profit in doubler, i have encounter a lot of people wasting their time in hyip,doubler, etc. They keep referring people to join under them, they dont understand that hyips and doubler are just paying at start but in the end, they will just take your money, and you cant get it back whatever you do.
Even you send email to them, they just ignore you.

Well this is fun. Today I just had someone message me on Facebook and asking if I currently hold any Bitcoin, and whether I want to earn a percentage on it. I knew what was coming, and I entertained my buddy and told him that I do have btc and I'm willing to hear what he has to offer. He sent me a link to a YouTube "webinar" recording of how this group is taking Bitcoin and playing the crypto market and the mining market, and that all participants will earn 2.X% return a day until their investment has been paid back in double...

Needless to say, I told my buddy that these doublers are all bullshit, and he got offended because he knows a friend of a friend that knows the "company" that produced the video.

What a sucker. I feel bad for him, as he got into btc at around the $900 price point, and I don't know how I'm going to tell him "I told you so" when he only nets 50% of his investment back before the company disappears lol

Sadly, even those who have been into bitcoin for a while are still lured into such scams from time to time. The promise of high yield in such a short period of time just seems to be good an opportunity to pass up, although they always regret investing in the end. Some of these investments are legit in the beginning but turn out to be scams because the high rate of return on investment is definitely unsustainable and can't continue until new members with incoming funds are signed up.

This are the sites that are completely ponzi scheme and we should not trust those sites especially if they offer higher returns in any investment that they offer because if they are legit investment then they will offer a lower return but a longer service unlike the new investments sites that are fakes that is just lasting at least a month and running away with the stolen bitcoins or money.

Yeah, plus there's no point getting into those when Bitcoin itself is the primary investment to watch anyways.

Exactly, that thing happened to me before, I was attracted  with those offer to every bet I made, also the point of investing to some site not making some background check or research. That must be notify by those newbies around. The sites tires to take advantages of Newbies and  we should warn the Newbies before hand.

Yeah it is surely a waste of time when you are already into it. And of course for the newbies, it will be exciting for them, because they are thinking that they can earn money or bitcoin for free. But they will realize it that the amount that they are earning with faucets aren't that really high. And that's a common mistake that is happening.

Why is it wrong? The newbie can not guess exactly when the price has not yet started to rise. And when he sees a clear trend of growth, then you can buy. So there will be confidence that the price will rise in a few days or weeks

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past  when I was newbie so we cannot blame them as its an common practice in bitcoins.

That is a common practice at initial stage but its good if people learn from their mistakes and don't repeat the same mistake again in future or else they will never be earning any money from bitcoins.

i just found this and only can say one word. Amazing! Thank you! I'm clearly clueless here and only know some kind of things about bitcoin. And reading that article really opens my eyes! now i know what should and i shouldn't do here. it gives me quite knowledge so i won't make mistake in the future. thanks for sharing this!

There you can get money only with great luck, but as a rule, many just lose money there and miss the opportunity to start making real bitcoin.

I just saw this thread and even if it's 2 months old it's still relevant.

The main mistakes that I think are the most common in the newbies from that article are:

-Mining bitcoins - I remember when I joined bitcoin I wanted to mine, and basically my laptop got overheated and i couldn't bare the noise and eventually, my laptop just died and had to get it repaired. Got literally 0 from that.

- Trading altcoins, buying into shitcoins - I bought into a coin called Zetacoin because there was such a big hype over at cryptsy at the time. In the end it was near worthless, and i'm not even sure that people have exchanges for it.

- Buying coin with paypal/CC - The reason why people charge outrageous rates is because they have to assume that you are a scammer. If you are legit then you can always go through the process of verification and buy from Coinbase, or other big exchanges for close to 1% of spot price.

So you are not aware that those type of investments are scam? You even don't need have luck for it. Because most of the newbies are thinking that it is an easy way to earn bitcoin but the real thing is that those ways are truly fooling us and it's a scam attempt for those people that are lack of knowledge in the bitcoin economy such as newbies.

Basically, such scams come across beginners or with a bit of experience who want to get a lot of easy money.

I just visited your site i know i'm too late it's already 2 months here. After reading your blog I think I’ve been in the same situation like those the "newbies" especially point 3,5 and 8.  I'm starting with point 3 the "panic selling" i bought bitcoin at 600+ dollars resell at 280 dollars totally crazy, i ever thought to mining bitcoin by myself which is too impossible for a newbie, and the last point is "Rich soon with Faucets" well i've been passed this it was freebitcoin i thought that we could be rich by doing so how funny when you only got less than 5 dollars monthly from faucet.

I agree with many points.
And it's impossible to get bitcoin on cranes now. It's a waste of time. Even $ 5 a month is hard to make. But beginners often do not understand this

I guess this kind of thread will never grow old.  There is always a new comer to Bitcoin, meaning there is always a newbie everyday and these newbies always commit this kind of mistakes.  Sad but true, it even happen to me lol.   I once thought that faucet is a good way to get a good amount of bitcoin but well I find that it is wrong and faucets are just dust and will never give us a good amount with regards to the time consumed. 

You can say it is a total waste of time to do faucet, but it is not wrong to earn in faucets, I have started earning in faucets and at first I am happy of the results because I have learn how to make transaction over an online wallet for the first time and I have felt happiness because of the first payment I have made in it that turn out to be just a little amount and there is a lot more in earning bitcoin, but I never have think about faucets are wrong!

Neat, brief good writing. Appreciated.
I have marked link to share on fitting occasions.

Main common mistakes are listed below:
-Sharing the private key to the others.
-Forgetting the private key.
-Using online wallets.

If you got scammed in some way, shape, or form after entering the crypto market... Welcome to the club.  It's basically a rite of passage.  Consider yourself having passed the first test of Bitcoin (or whatever altcoin/scam you're into).  I've been here since late 2011 and fell into playing Satoshi dice using a Martingale strategy.  Thankfully I pretty much broke even however could have easily lost big time.  There was an early Bitcoin prediction market that ultimately pulled an exit scam causing me to lose 2 or 3 bitcoins.  Of course I had a number of bitcoins in Mt. Gox when that went down.  I feel like an expert.  After a while you learn the "Capital A, #1 rule of Bitcoin"  Don't trust anyone or anything because everyone is out to separate you from your bitcoins.
Once again, welcome to the club.

Certainly faucets are the easiest way to make first contact with bitcoin. I, I have the same opinion as you, and my story with bitcoin very close to yours. In fact, the faucets take a lot of time, but  what the problem in staying a few hours visiting faucets? I do not see any problem. Often, you see a notice (in some advertisement) that you find interesting, and so you end up learning something positive or negative that will surely add to your experience.

-Who the heck will give private key to others? Even an average newbie knows that.

-Agree here and it really happened. But there are also some cases which we can considered as technical loss like private keys stored in a secured storage but still experienced some shit things.

-I don't see any wrong for using online wallets. We are using third party services here but it doesn't make newbies that they are doing it wrong. Just keep in mind that never used online wallets for storing coins but use their services that no doubt giving us some advantages on what to do with our bitcoin/s.

Mostly it goes with the newbies as they really don't have an idea that those things are existing in bitcoin. But the good thing is that we are here to warn those newbies that those investments are just going to bring them harm and and disappointment. It's already an attitude of us that we want to get a lot of easy money.

Lol yeah that is often done by most newbie. I also recognize that when I first use bitcoin. I also use doubler to get bitcoin Lol

thank you so much, i actually made number 7 on my own lol

Indeed, most of the high rank here in forum made a huge mistake before. One mistake that all users of bitcoin can made is not saving more bitcoin before because as of now bitcoin price is pumping up, its value is increased more than ever before. As the demand increase at the popularity of bitcoin develops more thing about bitcoin. So if people save more than before it pump more people earn more. But if I am one of them that did not take the risk.

I think the newbie mistake of bitcoin is just think short, when price rises look then they will sell it all (including me). then when high prices don't want to buy and continue to hope the price goes down.

I remember when I was a newbie, the mistake I made is that I thought faucet can make me rich soon as stated in the link given by OP. I really regret I wasted 2 days on faucet earning barely a dollar which made me stop using bitcoin for some period of time before I came back and have known that someone can really earn with bitcoin by using the right methods. This mistake I think was the main mistakes of bitcoin newbies that don't really buy bitcoin that much or newbies who just wants to earn some bitcoin like me back then.

though shy to admit, but i've made some same mistakes.

I'm also a newbie here & I have made some mistakes already due to leak of unreading rules & regulation about this forum I think. hopefully I will come over from mistake soon & try my level best to be continued with good activities in bitcoin.org
Finally, who guys are newbie  till now they will try to keep your good activities here & care about the rulse regulation before pushing any acts.

thanks to all.

The most frequent errors perpetrated newbie is they are looking for a free way for example bitcoin claims faucet, and following a giveaway. Perhaps the result there but I think it is not enough to change the cost of the internet.

One mistake which most Newbies make is looking to buy a high rank account. I guess you better take above advice, just let your account grow and it is much safer and you know the account very well.unlike buying high rank, you do not know how many transaction made, and how does it goes.

Follow me:
  + BTC is not as private as you think, it is still possible to find the sender when exchanging
  + Be very careful otherwise you can lose all the money in your wallet
  + The value of BTC up and down, fluctuating very large, (you must be financially lost when not affect life)

Thats true. When I became a newbie I wanted an instant and easy income, that's why I used the doubler site then and when scam I ever get frustrated. Yeah i've realized this time

Yes i'm agree with you many newbie and of course it's happen to me when i'm a newbie, didn't care about the security of my wallet and the result is I loss all my fund and make me stop to get Bitcoin, and start again after one years later.

All of these mistakes re quite common in crypto newbie world besides faucets. I really do not think anyone sane uses faucets anymore besides people from third world where $1 means something.
On the other hand, these people re not targets for faucets marketing so it does not work.

Pretty useful information for me. I was doing every single of the mentioned mistakes. Your efforts are much appreciated.



Only the article was missing the commin mistake newbies make, by setting low fee in transactions then gettting unconfirmed transactions and blaming the evil nature of bitcoin as stated by SONG GEET

$1 means something to the third world, all right. But if those third world people could go to work as a waiter, as stated in the article then, they could surely make more money then earning from the faucets.

This really save me. Thank you for the great article.

Why not! Initially newbies can start up with the faucets and then they learn about bitcoin Youtube and another online article which has been mentioned in the above post. Apart from that newbies get scammed in some trades, mostly in Accounts, invites, cloud mining and gift cards.
Please learn everything before get into the services or trade in this forum.

I believe that searching for free bitcoins such as claiming in faucet and other give away is harmful and erroneous to newbies. I am seeing it the other way since that is how I started with bitcoins from collecting from the faucet and that activity has given me enough experience to level up in searching for free ways to get bitcoins. Right now I am earning 400$ monthly without buying any bitcoins for investment but from online jobs and referral commissions. Thus for me claiming satoshis at faucets are basic experience that will soon our stepping stones towards earning more online.

Thank you for sharing but following the HYPE especially in shit program is the first big mistake many follow it .

Indeed effort to get bitcoin for free is certainly not easy if not supported with ability and knowledge in field of bitcoin, because sometimes we often find some sites are just scamm and of course this will waste a lot of our time, maybe with this forum can help for newbie To gain knowledge on how to get the appropriate bitcoin in the expectation.

I believe the most newbies started with faucet, till they learn and understand better the crypto world. The crypto world is something that will require information, and well those can be manipulated as well the market, the fact is crypto is stable and very volatil, with a huge potencial of returns as well loss, almost the same as forex.

Newbies need to perfect in all aspects of bitcoin to skip from the mistakes on bitcoin investments and earning methods. When I was a newbie, to say I was member rank guy that time. I thought to sell LBC data in digital goods. I forgot to use escrow. He just scammed me in that trade. I wasted 0.04 btc in that trade.

Personally, the costly mistake for me was falling for the amount and level of fud in exchange trollboxes, its just ridiculous.  But then again, when you're a new to something, there are costly mistakes along the way sometimes.

Overall pretty good list but I don't think they all apply to noobs.  I don't see noobs suddenly deciding to daytrade.

A common mistake of beginners in crypto world is not spending enough time for learning basics. There are many guides are available to protect ourselves and how effectively get into crypto world, still people are ignoring them just due to the reason of rushing into making their fortunes. Unfortunately everyone wants to learn the basic by their own mistakes. That is the reason the concept of faucets are still alive and scammers are around us.

I don’t know about using an online wallet a mistake, I mean we all started using online wallets because they are the first thing that we need to earn bitcoin, as a newbie using offline wallets seemed way too complicated for me, and the thought that if my pc gets hacked or stops working made me chose the online wallets over the desktop ones because, they are easier to use and your coins are always safe.

While using online wallets, there will be no chances of mentioned other two problems which are dealing with privatekeys as most of the online wallets not letting access to privatekeys.

There will always be gullible people as the userbase expands.

Yes to really good article it made me to remember those days I was doing mistake as a newbie I wish I could have found this article in that time. But these article not covered low transaction time so that user get panic for transaction time

Time goes, newbies mistakes stays the same on different markets. But the article needs correction right now, liquidity is much higher now, but still is not that high (49 billion right now vs 15 bln in this article)

Maybe the first mistake is wrong word for newbie, Many newbie bitcoin finally get scammed by bitcoin based scam / hyip / ponzi / doubler.

In the way you wrote it newbie have a double meaning. First is bitcoin newbie, a person that doesn't have experience with bitcoin, he is first time here and he is learning his first steps.
Other newbies are new, in most cases alt profile's made to scams people on various ways. Also this newbies are spreading their lies and they luring people into their hyip,ponzi or doubler schemes.
My question is the same like before when will people learn to not trust in anything that sounds too good to be truth, nothing comes easy.

Yes, newbies are still learn about bitcoin world.  They have to keep active in this forum to get a lot of information. The mistake that newbies usually do is afraid when bitcoin price down then they sell it.  Bitcoin is volatile so do not worry when bitcoin price down because the price will go up again.

I have a friend who has over 3 years of experience with bitcoin and some of the advices on the posts I knew them already and were also similar to the ones he told me. Good post :D

Some people can learn very fast to don't invest in scam schemes, but others will continue trying until they have spent their last satoshi. People believed in those scam schemes in Crypto-Currency world because they thought it was different from real world investments, that Bitcoin was a magical currency able to provide easy profit for smart guys (the scammers in businessmen skin).

After few investments these people could see there isn't easy money, even in Bitcoin businesses, so they stopped investing on it, but other people, continue trying their luck, trying to enter earlier in a scheme to have advantages. This second group will lose all their money.

I can relate to this, newbie often scammed by this kind of shitty money game because they're getting blinded with what those have offered. Even many of people I know had already been scammed by those things. Especially by the Ponzi which entitling as cloud miner, and even there's also some faucet that turning out to be a scam, that's just awkward.

Well, no one is perfect, so it is understandable that even the pros make some mistakes from time to time, to me trading is the activity that exposes us to make the most mistakes since you are basically trying to predict how the prices are going to move and that is hard no matter the amount experience you have.

The worst mistakes newbies make are usually related to issues with sending/receiving and addresses, as well as forgetting password or not recording seeds, making backups. These are the things the older trader do by default but thinking about them is harder for the newbies.

This just happened recently on facebook. One of my friend (newbie) in crypto told me that the price is moving down.

And he was afraid to sell it at that price so he messaged me and ask me if there's no need to panic.

That's one of a common mistake that newbies are committing, when the price gets lower their heart is becoming weak.

Even Bitcoin Veterans can make mistakes as well, not just the Newbies. I have made several mistakes over the years and the biggest one mistake I made was not to tell my Wife to buy a few hundred of them when she knew about them when they were less than one dollar each. So that was my biggest mistake as a newbie.  :'(

The most mistakes true newbies to bitcoin fall to are probably related to private keys, either exposing them on mistake or failing to keep them and the secret phrases used in majority of today wallet.
The most common mistake I've seen (which is almost harmless) is sharing blockchain identifier as the bitcoin address, seen dozens of people doing that, it isn't harmful since no password is included, but a newbie mistake.

True, this is a mistake that many people make, and it is one of the easiest to avoid, if you see the price is going down and you are invested in a solid coin, there is not need to panic, just leave your investment alone, selling when the price is down is the surest way to became poor.

When I was newbie I don't have issues with sending and receiving or anything related to it. There's a lot of mistakes that a newbie commits common mistakes especially when it comes to questions about earning. They usually think that they can earn very easy or there are a lot of ways to earn bitcoin on easy way.

Lol i ever experienced it, back then i was a few weeks in bitcoin and i did transaction to exchange. And because the confirmation time is long enough and the balance has not come in, then I panicked and said that the exchange was a scam lol

It always pays to google and to read a lot of articles,something I have not done when I was just a newbie in the crypto currency and have paid an hefty price,I've experience and have done some of the mistakes listed in that article and this is a good reference too.

Haha. This list is so true. I expecially loved the bit about I'll be rich with faucets. :D It reminds me of my first Bitcoin days...

But it forgot to mention some other methods to make Bitcoin and also to stay away from Bitcoin gambling. Other than that the site is an excellent resource for newbies. Even I learned something!

i think the main problem for newbies is they are easy to gets panic when the price is up or down so they are in rush to sell or buy the coins because they don't want to get late in the party. but actually, if they are doing this for a long time, i think they can not make a good profit and they can get loss in any time. its normal in this situations because i have this experience too when i was new in trading and i made wrong decision in many times. but know i think i learn much from my mistake so i think i can fixed one by one of my mistake.

I also spend too much time in faucets because i believe that the thousand satoshi there is already worth a lot of money and somehow it is not worth too much so i also try gambling which is very addictive and i lose a lot of money there even my pocket money was wasted their because of the addiction of fast profits now i am more matured and just spending bitcoin or money in the things that is worth it like investing in altcoins and so on.

Yes it is. Many newbies have been failed because they think that hyip is really a good thing and it can help them to survive their needs. They doesnt think that it is more risky to get into a hyip.

I admit im totally relate to this article lol still Im newbie to bitcoin up to now thanks for this article..skip faucet this time lol.

99% mistakes of every bitcoin newbie could be mitigated if people would simply do their own due diligence before happily donating their bitcoin to obvious scammers.
Bitcoin is tool for smart people - or least people who are willing to learn something, if you want to be taken care of for your whole life and are scared of losing your money then stick with Bank.
Or PayPal - you can always ask for them to revoke your payment or open up a PayPal dispute there.

newbies easily trust people here in the cryptocurrency world, they also do the act first before they think and then they will just realized what they did was wrong.
they are too fragile on doing things here in crypto world such as trying different things just to earn bitcoin,
For example is investing those ponzi sites out there believing that they could earn a good amount of money there which is mostly turning to scams in the end.

Lack of understanding, over expectation of being rich with bitcoin in a short. Believing that multiplication of bitcoin is quite an easy task to be done and getting under the traps of scammers who's major focus is towards the beginners to the cryptocurrency network.

I also find that 'newbies' tend to get scared at every little price-dip and sell right away, only to find that the price bounces back thrice-fold in the next couple days. Hold, hold, hold :)!

thanks for this article and link it is helpfull to me as a newbie even though my rank is a member ihave lack of knowledge yet bitcoin currency..

This is why when you begin your trading career the most important thing to do, is to start with a small amount of money that way even if you make mistakes, you will not lose too much money, and the most important thing is you will learn some lesson that will be useful for you on the future.

That is the golden rule for almost all the newbies that i taught because i don't recommend them big capital because it is very risky for them because they doesn't have enough knowledge to compete to the market and the only thing that they can do in the starting point is to just study the market and get used to it and after that they can use bigger capital because they have got experience and knowledge.

this create wrong interpretation of bitcoin as they think that bitcoin investment is just a quick and easy money that they don't need enough knowledge in order to take the benefits and in the end of the day they just fell into a scammed system and loses everything instead of gaining
profits.

Well  its an information rich site. And really the type of explanation is quite user friendly and I love the site. As a newbie I had done mistake by investing in online could mining site and they ran away with my money. Secondly while the rate of bitcoin was less i had not bought bitcoin and latter on when the rate rise up then i bought bitcoin and had suffered losses and I had planned to quit bitcoin but later on price again rise up than god. And another mistake with newbie is that they want to mine bitcoin which is worthless and using faucet to earn bitcoin is totally useless.

They can probably used small capital to begin with the trading. So at least they will have the experienced to play with their money and if they lose at least it will be a learning experience for them. And as they mature and gain experience they can probably starts increasing their capital and for sure they will now gain knowledge and profit.

i shock about it, i remember if i am newbie "get rich from faucet is embarrassing thing ;D "
and second thing is i lose my privatekey ;D

Not just capital in priority but a skill that can minimize the existing losses. So u beginners should know it before making a big mistake that result in loss of our money

Many newbie stuck in ponzi investment scheme, mlm, hyip. Because all they care about is profit. Do not think the risks or what will happen in the future. They think short and immediately make an investment without looking at the trust
So when they get a scam, they cry

i think one of the main reason can also be that the newbie do not have good experience, they don not know when where and how to use their bitcoin to get maximum benefit from it. i  think they need to be too much careful while investing their money.

Get rich syndrome is one of the  mistakes of newbies, they have the mind set of becoming millionaire overnight not minding that slow and steady win the race. My advice to newbies is to learn and be diligent with time surely they will get there, there are vast information about bitcoin online and other cryptocurrencies for newbies. When I heard about bitcoin I studied it very well, now I am reaping my efforts.

good point gabbie. 

im pretty new to this and i find it so overwhelming with all the information that i dont really know where to start.  ive been looking at some icos, and all of them are like 50+ pages. 

I never had this experience when I was new in the trade and I made the wrong decision in many times. But know I think I learned a lot from my mistakes so I thought I could keep one of my errors.
This is why when you start your trading career is the most important thing to do, is to start with a small amount of money even if you make mistakes, you don't lose too much money and the most important thing is you will learn some of the lessons that will be useful to You in the future. so you no do the same mistakes, give the right decision

That's it, always start small and never go all in. Mistakes will happen when you jump into something new, even if you have been reading threads on forums for months - but at least they will give us a good lesson

experience will be the best teacher most of the time , this mistakes happens with newcomers has been experience too by those who claimed to be a pro users of this bitcoin investment, many of us also did try ponzi , hyip and some other platform that attract us to joined using bitcoin but after that and if failure happens we will start to grow up and understand the risk and avoid mistake again.

Being in hurry always harms it's a very true saying of some wise people to get something you need to be ready for it completely. The mistake that new users mostly do is try to get rich in short time, firstly newbies always should search how to get free Bitcoin rather then short buying large number of Bitcoin and getting used to it hence its practically  not so easy to get free so people waste a lot of time through faucets and without experience they enter in gambling, it I think the major issue.

Yosh, articles that are very useful for beginners like me, I am very grateful and very appreciate your article :D ;)

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

Because the newbie is usually very easy in lure with something profitable when the risk is very large.
And newbies never consider the risks so they casually invest in ponzi scam

Good article boss, such tips are quite helpful to all newbie bitcoiners out there (count me actually haha). Buying low, holding and selling high is nice advice it is, as rushing is for those impatient enough or unless your a daytrader. Jumping to hypes is good sometimes, if the trend goes up then much better, but being cautious is a good thing also. May we all master the art of bitcoin guys!!!

Yes, it is completely different to read about something in a book or a thread than to try to do it, you don’t know how you are going to react when the markets moves, I have seen very confident people crumble under pressure and I have seen people that you did not think as strong to become way stronger under pressure.

Keeping their bitcoins in an exchange is something that I would not recommend to begin with, along with moving their bitcoin around too much and not realising how much they are being charged for the privilege of doing so.

Leaving your bitcoin is bad because the bitcoin is not under control of you and your wallet but under control by the owner of the exchange you are using so you are relying on the honesty of the owner of the exchange.


That is panic selling, let them do it we can buy the bitcoins form them and profit from them.

That's what newbie (including me) usually do, they'll be very easy to panic and scared when something happens to bitcoin prices. As prices are going down very sharply and there are sure to be a lot of newbie users who panic and sell all their bitcoins

Keep bitcoins in exchange.

Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.

Lose the bitcoins when the exchange collapses.

10/10 would lose money again

Even seasoned Bitcoiners can make mistakes all the time. This is an experimental phase for both Bitcoin and Altcoins and we are learning new things every day. I still make mistakes even though I am in this business now for nearly two years but only very part time at present due to time constraints.

Very few newbies encounter such a issue. The reason is that a small number of newbies take part into trading at the early days of being into bitcoin. Most of the users get trapped into the scam where people attract newbies with big multiplication schemes. Another thing is trying to be rich through gambling and losing big.

Thanks for the article! I'll definitely be using this in the future.

They don't trade, just use the exchanges as wallet

Yes and as rule for myself, I will never join any hyip, doubler, ponzis and matrix program no matter how well they brand themselves and no matter the good things people say about them.

Agree! If you do not experience all of those things then maybe you will not look for another ways to get back all the losses you had. As for me I am one lucky person to have a great friend who's been guiding me in my journey with bitcoin he told me not to invest with ponzi and hyip scheme because it will only take my money in the end.

Open just the price down newbie will panic. They will also panic selling when prices rise. I think not just newbie but other users like me. Impatient is the most influential thing why they can panic and sell their bitcoin

It's because they are impatient. Newbie is always reckless in making decisions, for example when prices change quickly they will think to sell their bitcoin in the wrong position just because they panic and scare?

    As a newbie. it will help me a lot. Especially on how I will keep my bitcoin earned in the signature campaign. And also it give me knowledge in bitcoin, Honestly until now I am not totally familiar in bitcoin even though I know a few information about it, I actually want to learn or understand how to invest, sell or trade using bitcoin. So I am looking forward to learn more in this article.

   But sometimes its not bad to have mistakes because you can learn from it, so next time you elude to happen it again.

In that case of learnings from your mistakes, let me say about the scenario of a work you are involve with like a job that's worth a million dollar fiat, and you needed to obtain safe work to avoid failure of quality but suddenly you did worst failure then made the work unsuccessful. So to make a clear understanding of that $1m dollar failure is very expensive if we take it as a lesson from a mistakes. Actually when a newbie hits the wrong decisions of investing huge amout at mining ponzis,  I think that the same mistakes comitted like the scenario of $1m dollar failure which is costly.

I do not think it is because they are impatient, I think it is because they do not believe in bitcoin, I will never sell my bitcoins for a bad price, I will hold until things go back to normality and even then I will not sell because I’m waiting the day bitcoin is worth a lot of money.

This is the biggest mistake and time will teach them how to hold bitcoin and being rich with bitcoin. I think the second biggest mistake is that they do not very care about the private key. Private key is very important to bitcoin holder

I think newbies get attracted to bitcoin because they think of it as "get rich quick scheme" but then they lose it all. If you do your research, you can save yourselves lot of headache later on. Every question regarding bitcoin has been answered so newbies shouldn't have any trouble at all.

I'd have to say one of the biggest ones that isn't mentioned here is going to have to be fees, most of the new people don't understand how fees work and all that which is going to make them do one of two things. Set a fee two low which is going to cause their TX to never be confirmed or just take an insane amount of time to be confirmed, OR just waste a ton of money getting a fee confirmed for too high of an amount.

Both are equally bad and I think this piece should've touched on it well, though besides that this hits on a good amount of the bases when it comes to things. May want to also tell people to avoid faucets, gambling, and so on and so forth if you catch my drift.

To me at least the biggest mistake is people storing coins on exchanges. Most people don't remember Mt Gox anymore even though it was recent enough. Probably because there's so many people that got in to bitcoin after this shambles :)

Hardware wallets are actually affordable and easy enough to use now so there's no excuse.

True, Gox seems like an ancient legend from a distant past by now. Let's hope we don't get a modern equivalent any time soon.

I do remember the Mt Gox incident and i will say this, this was an inside job by these people just to rip off the customers, they feign innocence and just share the money later, They should have been made to refund the money to its customers.

Wow, thanks for this article! Really helped me as a newbie. I think that others, even old users of cryptocurrency/Bitcoin can still use this article and learn from it. Thank you for adding to my knowledge on Bitcoin. I hope to be able to use it wisely. I'm still constantly learning because I wish to invest on Bitcoin someday so I want to fully understand it. Kudos!

Maybe and that is a mistake because that is not true, when we hear successful stories we like to have such success and want it easily.
But, we will be tested once we are in the actual situation because making money is not as easy as we think, now if we can accept that
reality and be able to improve our skills and will mature, maybe we will have a chance in the future.

Near "Keeping money on exchange sites and coinbase" I would add to diversify with few wallets or create few cold wallets and ALWAYS use 2FA

For beginners bitcoin players error is reasonable, the first mistake is less patient and trader always panic on market.. Often experience losses due to lack of experience .. But that's reasonable because all successful people are learning from failure ..

Any person that enters a market with that kind of mentality when he does not know anything about it, is just going to get into trouble with scammers that will try to get advantage of him, since there are many scammers that are looking for people like that, people that want to double their money in a matter of days.

I the the most important thing anyone can do for themselves would be to always make sure they keep backups online and offline of Soo their wallets. You never want to lose coins. It happens often to people. I admit it has happened to me. :( Never take chances, it's just not worth it at all.

Many newbies to come since more and more people knowing about cryptos.

I think everyone experience this one, when we all new here we are really so afraid and let our emotion to control us but this is a good lesson to learned. Sometimes we need to experience this early in your career for you to become stronger the next time you encounter things like this.

Another aspect of newbie is that they think bitcoin is for rich only and difficult to earn or collect. Yes, because you cannot have it if you do not know. I guess there is no need to know if what class you came from all you need is to know how to get it. Because for me I am not in the middle class but I am not poor enough to classified as poor so I guess no need to know your life status to know bitcoin and have it.
The thing is to realize the Newbie that bitcoin can be earned or collected by the poor also even though it is very expensive.

This is totally great that there is a site for newbies in bitcoin industry. With the help of this site article, many people especially those who are new in this can be oriented of the do's and dont's in this kind of cryptocurrency where we belong. By this they can be aware of everything that they will do and have a basis if they are doing the wrong or right thing. We must thank the provided or creator of this article because he make a way to make awareness not just for the newbies but also for the other ranks.

Some newbie just don't know what to do for the first time because of some don't have a full knowledge on bitcoin, but we all are the same, we also start as a newbie so I think we all do all this 10 mistakes that the author describe on his blog.

Also these were not mistakes, but the lack of understanding and over expectation. When it comes to the term bitcoin, it's all about money and we can earn this quick and make ourselves rich. Most users have this thinking at the early days. The same cause them to get trapped on several scams and other fraudsters.

This is generally a Bitcoin 101 course. And while it is really introductory, many of us who are here for quite a while already are quite surprised at how the article gives us new knowledge about it.

The article made almost everything simple for anyone into bitcoin.

Everyone in this world wants to become rich as soon as possible. So, as a newbie your first main focus is to earn more bitcoins. After some passage of time they will realize that it is not that simple after that they will get more knowledge about it. Failures are the best teachers which can help you to overcome and face any situation.

That is the power of this community and success of this forum. Unfortunately newbie are not showing interests on reading here rather than they just focus on writing more number of posts and this must be the reasons those mistakes keep persisting.

nice article, did all that when i started using and investing bitcoin.

How to secure your address and other accounts should be added here. Security is one of the main problem that I've encountered as a newbie. Last month I've lost a handful of coins when my wallet was breached/hacked because lack of security and knowledge. Second thing is how to detect/know if a website you're entering is not a scam/phising site. I've been also a victim of phising sites so always be careful on opening links everywhere.

Yes true, investing bitcoin is very profitable and we had hope for success by purchasing the bitcoin, I think it's not too late to keep getting profit from bitcoin as prices will continue to rise.

Probably the biggest mistake that newbies make is that they think they can get rich with bitcoin quickly and the problem with that is they risk to get scammed by people that will lure them to think that it is easy to get riches with bitcoin.

There is no shortcut of getting Rich, not even with bitcoins. Newbie should realize that although there are lots of methods to earn bitcoins but they demand hard work and none of them  will  make them rich without any efforts.

Altcoins themselves are a mistake.

But the first one is no longer a mistake it's more like a trend.
I doubt there are more than 10% on this forum that hold their coins in their own wallets.
I read a thread where for two pages everybody was using  blockchian,coinbase xapo and so on

Beginners are always enough coins and therefore any savings is substantial. It's worth it to wait a few hours or even days. To pay a single transaction some of them have 1-2 days to click on the different taps.

Thanks for this because I have never thought of securing my address! The article is was really insightful as well. I learned most of what I know about Bitcoin from various sources and this article had the basics. I wish I read this before I started on Bitcoin, but at least now I know. I hope to be wiser on my Bitcoin choices and investments.

Bitcoin's popularity is growing just like crazy and nobody understand what is it and how it works, people just want fast profit, but the chance to buy cheap today and become reach in 3-5 years is gone, bitcoin costs a lot today, but this fact doesn't stop people to invest in whatever. All this ICOs are making their profit on people's greediness. I think that is the main mistake of a newbie. There is no way to become rich fast on crypto-currencies. I recommend to all newbies to read and read and one more read before to make any decidion about investment.

All will benefit by reading this article. If allowed I want to translate into another language. Many people want to know this, and deserve to be learned.
thank you

Not necessarily, with each new generation of bitcoin users, these new users can avoid some of the mistakes many of their predecessors made since now there is a lot more material to read to avoid making mistakes like that, case in point the list of the 10 mistakes newbies make, now you can avoid them if you are smart.

Not only this there are many more mistakes they make by expecting too much from bitcoin in short time and selling at loss during panic moments and the most important ones is not applying appropriate fees while sending which takes days for a transactions to confirm

Wow thanks!!!
I didnt realize that until now.
Glad I read this and I glad I didnt try ..

Well it make sense but I never thought of it?
Im still a newbie.

This info greatly helps!

This site will be a great help for the newbies especially those who are really interested on investing in bitcoin but doesn't know yet how to possibly start and this must be spread to orient not just the newbies but also the other people to let them be oriented about bitcoin. It is nice that someone or everyone at least have a concern on helping those people who really want to know more about bitcoin by providing this site for a miniguide.

that's a good one...  But this is not only for newbie as you told so,  the other rank like higher rank also made some same mistakes..  Eventhough they are having much longer time for this,  they also make a mistakes..  But now that you have this guide,  t
Many newbie and other rank prevent some mistakes that are indicated in this...  Thank you for that info..

The article is not about "bitcointalk" newbies, it's all about people who are new to bitcoin
If you didn't know much about bitcoin and how it works then you can consider as newbie

Thank OP for the article, very helpful and informative.

Also include investing on shit bitcoin doublers, mining promising 1000% profit, ponzi, fake wallets, gambling etc. These things are hyping me before, also when claiming in bitcoin faucets i feel so rich haha 😂. But those days teach me how to become more stable now and every decisions I make always think twice.

Bitcoin teach me a lot of lessons, on how to give importance on what I owned financially. Also teach me how not to trust anyone.

I also invested on those, thinking they were legit and spent about $100 on them. Good thing I learned my lesson quick and did not invest too much. I got it back when I invested in one of them that had an affiliate program that I registered my self as the affiliate. I probably profited a few bucks from that though I lost on the next one. Good times...

Right now it's easy to understand the basics in a short period of time. But with the years the whole cryptocurrency ecosystem would become more complex.
And maybe in 2030 it would be as hard to understand it as it is now to understand for 80-90-old gents and ladies the principles of the web.

I bet nobody who replied to this thread can describe smart contracts as if it was a programming language.

I've been there... I remember claiming on faucet for more than 4hours.
I also lose some money in doubler and hyip, well I get some profit too but it's not enough
I'm very thankful for the experience being a newbie, just like the saying "Experience is a great Teacher"

Solidity is a programming language, not smart contracts

Very useful information, thanks! I will advise this to read to all newcomers! :)

Yes that hyip thing, I was new into bitcoins when there was a website flashed on my screen.  An investment site that offers a great return when you invest a certain amount of bitcoin.  Bitcoin is so precious to me and at that time, I was thinking of how I will earn more out of my bitcoins.  I signed in and invest some amount of bitcoin.  After I was about to get my bitcoin, the site was no longer there and I was really saddened.  Since then I do not invest any of my bitcoin.

I clearly did not understand what you are trying to tell here,the so called 80 year old individual by 2030 means that they are currently having 67 years old and i am sure most of them who are interested in learning about these things would learn by now and the world has changed drastically and who does not have a smart phone right now.

They invest cloud mining, sites that doubles BTC and of course gambling are the mistakes committed by most of the newbies in BTC. I don't really bla,e them cos many of us threaded this path on our way to becoming professionals

Every user could have lost or spend some amount in terms of bitcoin just because of over expectations on earning big through the doubling and other HYIP programs that are developed to scam the users. Here most of the time newbies get trapped and realize it only after losing.

In other words, people are too dumb to understand that what they are doing leads to nothing but losses, and too lazy to freaking work hard for their money.

All the examples you mentioned are something that people (rookie or experienced) should avoid by default. It's common sense material......

If people need to go wrong in order to realize that these options aren't rewarding, and only lead to losses, it tells me that the average IQ of the general user of this forum is far below average.

Yes, invest in cloud mining service will be difficult for return of investment although the cloud mining service can be trusted
but invest in cloud mining are bad ideas because the cast of mining is very expensive and the difficulty of bitcoins is increasing
every time and risk to be scam service can happen.

For me I think the biggest mistake made by newbies is not getting involved sooner. I started only a little under two years ago but kind of lost time and didn't really have the money to invest. I spent/wasted alot of time on faucets but it gave me a start of my bitcoin. I am now starting my crypto currency journey again.

I think we all make mistakes when were newbie, specially when we new in trading, newbies are trade with emotions and i think this is one of the mistakes of newbie, well we all need to fail for us to learn.

Mistakes in trading are still committed by people even they call themselves professional traders hence we cannot expect mistake-free trading environment as it will be not at all possible for anyone. Like you mentioned while trading, almost all the traders are failing to control their emotions as it is highly bind with them physiologically.

I guess all types of financial mistakes are originating from emotion failures. Yes, people get scammed by hyip just due to greediness or losing big money in gambling due to not maintaining self disciplines.

If we go for indepth analysis on all types of mistakes we make with any financial activities, we may come to a conclusions how important to have emotion control all the times. Earning is a big task but securing those earned wealth must more important task for anyone.

the main mistake is they sell at wrong time.
and I think it is really bad day for those who sell their bitcoins when they see that the bitcoin’s value is crashed, and the good day for those who save bitcoins , here is the day for their celebration because they are now milliners. So guys if I have an opportunity to get bitcoins I never ever miss it.

That is the carelessness of the beginners who always expect something big, with their curiosity and emotion to do small things will get big when doing the program, maybe they do not know what they should do so they do not get caught in a big defeat in this case.

it is a very good article, especially for the newbie, if it is original writing and articles that you make yourself, I really appreciate it, thanks for your hard work

Thanks for the article, I'll be sure to make use of it as I learn more about Bitcoin.

The biggest mistake a newbie does is selling all his earnings whenever he gets it. I did that when I used to get and understood what I was doing wrong very early. Sell only 25% of your earnings, save the rest in a secured wallets.

This kind of post is what i like the most here on the forum. It teaches newbies how to be a successful bitcoiners and how to secure their future with it.

That is a great little guide that shows newbies where is the right direction. I wish I came accross with this one when I was newby.

I've just introduced crypto world to my little brother, so that is good that I've seen this guide here, I can share with him too.

Well true enough, its not smart to sell out of a growing system.   Many dont realise what they are dealing with and everyone has to cover costs.    I would say always sell some revenue to meet costs, usually then you have a minority left.   I would sell some of that to own some gold, some sites will accept crypto to pay for gold.   What percentage you hold of gold is upto the individual but always have more then 1% of free cash as FIAT is not a reliable system of saving.   Then what you have left is profit, even out of this amount I would sell some to paper money but only when I think market has risen a sufficient amount in near term.

   Then finally keep some so long as you believe in the crypto overall and its being developed adequately to meet needs of the common user not just elite type interests.  An economy is always driven by the masses not the largest owners.  The fastest business is from the smallest business is another general rule I agree with

helpful information. at this time a lot of newbie who want once instant. less reading, want to directly produce. do not they all proceed?

I just finished reading this article and I find very helpful specially for the newbies.I hope this thread be always updated so that they can learn more about bitcoin. There will always a newbie to Bitcoin, so this kind of blog will always be helpful so that they will never do this kind of mistakes.  Sad but true, it also happen to me before,  I tried faucets and get soatoshis. I was told before that faucet is a good way to get a good amount of free bitcoin.  Well, thanks to them for wssting my time.

You don't totally waste your time in doing faucet sites because it is a lesson in disguise for you and that is you learned how to be patient and be consistent everyday because when you are doing work in faucet then you are earning small amount of satoshi for sure and that best thing to do is to work for it everyday and because of that you learned being patient and consistent which you can use right now and in the future.

Newbies are guided here in this forum, this forum help a lot to every level investor and being a new comer there is a lot room to learn through this forum, and introducing this thing to new persons gives a lot of experience it enhances the investors and also user demands and it gives pumps to the price and give high profits.

Keeping your money on an exchange or a web wallet is terrible idea. Both can be hacked anytime and your money can disappear. That's why I always recommend newbies at least a software wallet Electrum if they can't afford a hardware wallet. Having a control of you private keys is very important because they determine if you are the owner of your bitcoins.

Newbies also tends to have a lot of security flaw locally whether on their phone or personal computers they lack safety precautions to secure their valuable information such as wallet keys and passwords etc and also make unnecessary sharing and getting hype too much that they do not chose people to trust their information with. 

There are literally 1000+ mistakes that newbies can make, but the article does summarize 10 of the major mistakes. Thank you for sharing.

this article provides useful information and knowledge for me. and can be a literacy material for everyone who wants to know about bitcoin. thank you dud, i really appreciate it

This thread can be helpful for us newbies on how are we going to deal with bitcoin. The biggest mistake of Bitcoin newbies is trying to get Bitcoin by following the unproductive paths like through the system hyip.