Bitcoin Forum

Hi all,
Yes I'm a virgin to all of this crypto coin business. So I can learn from your mistakes ( :P cheeky I know) could you let me know your biggest mistake and biggest tips regarding this bit coin boom.

Any advice would be greatly appreciated.  ;D

Thanks in advance for your time.
Lex

Biggest regret? Waiting to get in! I first became aware of Bitcoin when it was floating around $10...and I didn't bother to force myself to get into it at that time. That's my biggest mistake.

Stop waiting, get in there!

Any specific questions?

My biggest mistake is getting shiny object syndrome and over diversifying too soon.

I recommend to just buy bitcoin for a while and research and study. Then later on looking into something else and invest slowly there but do not jump all over the place and do not over diversify.

For example you may want to move into mining, or learn about ICOs, or masternodes and staking. However, don't do it all at once. Buy bitcoin then invest in another area once you have some research under your belt. There is tremendous advertising and marketing in this space even on this forum. So don't chase everything that looks like it has potential. You can literally go broke chasing potential.

Crypto Wealth

Thanks for your response and advice, I have just started to invest in bitcoin and looking at others. I am wondering if I'm spreading myself too thin. I've purchased several different coins and am just wondering how often you buy and how much you invest?

I dont know if you can see my reply as a biggest mistake I never experienced this before I just read this one from previous threads , I just want to say and suggest this you.

Make sure you have amount to etheruem or bitcoin in your hand, in other words in your wallet that is capable for fees because you cant get your earned money especially altcoins without any extra etheruem.

My experience about bitcoin transaction:
I only experience bitcoin that it did not get me to buy more bitcoin just to get my earned bitcoin. So I don't  know why the others say you need extra etheruem when it comes to bitcoin.

Im just new in this crypto business the mistakesnI have done so far when Im into panic mode of buying and selling. This makes me lose in trading. It should not like this it needs analyzation first in trading.

Join Watsapp and telegram group also. You can learn a lot..

I think a lot of us share the mistake of not going in earlier. But still, it is a risky game, hindsight is 20/20.

If you’re going to do some trading, try to cut out all emotion. Fear of missing out is an easy mistake for people to buy at the wrong moment or to spend more money than they should. On the other hand people get nervous when a coin is dropping. Should I adjust my sell order? Ah well... maybe... When in a few days, weeks or maybe months the coin could have jumped back to a way higher price.

If it looks to good to be true, it often is. So stay away fom HYIPs.

Initial Coin Offerings (ICO) can be nice buying opportunity. But it also happens a lot that the price of the coin drops quite a bit after the ICO. Often you see a pump-and-dump with new coins. The price gets inflated immensely, people quickly sell their share and it drops below ICO price. It depends on the project and the team if the coin succeeds after that.

Be careful of fees, for placing orders, for converting, for withdrawal. Check the prices. And don’t forget network fees! Bitcoin transactions are expensive!

Always, ALWAYS, double check the address when you are doing transactions. If you are not sure if you completely trust a platform start small.

Don’t put all your eggs in one basket. And be patient. HODL!

Come to this forum often and most importantly enjoy it.

Well i suggest you have your own mistake, but let me tell my simple mistake ends with big loss

i prefer told you my trading mistake, remember when you start trading you should have a ton patience skills, even you already profit just hold your coin you can get 2x, or maybe up to 300x from trading, but this moment is very very rare to find but maybe you can taste it someday. HODL for better future.

Superb advice which I'll take on board for sure. It seems the concensus is hold your nerve.
As of today the price had fallen so I'm contemplating buying more, is this a good way to trade?

Hey Virgin boy/girl,
How was your first time here??
Keep reading some pinned thread and you will know some basic info of join into bitcoin...

When I started in crypto world I wasted a lot of bitcoin in useless programs, hyips and Ponzi schemes etc thinking that btc will never rise so much.. but now I regret that, I could have been rich now if I had not wasted my btc 2-3 years back.

Obviously not getting onboard early enough, but also seeing BTC rising at the end of November last year and deciding to sell some of my coins, but selling them too early. The problem was all I was going to do with the fiat was by more BTC, so I would have been better leaving them in.

Everyone makes mistakes. It's part of the process of self-learning and growing. Even if people will tell you the mistakes they made in here you'll most certainly come across some of your own future wise. mistakes can be used to learn from and improve yourself. They aren't always a bad thing.

My biggest mistake, not knowing bitcoin since this forum was created.

Hello, I am a virgin too with bitcoin but if you want to earn money be patient.Try to read the rules and regulations of this forum in order for you not to get mistakes.

My biggest mistake that i keep on making. Selling coins to invest in other stuff and then see the value of that coin go +1000% . And it still keeps on happening. So i hope you will learn from my mistake what i still haven't learned  ::)

Hello mate. I am also newbie here. Just try to read pin post and ask for help if you there is bothering you. Just acquired  knowledge on what you what to do.

My biggest regret was selling early on. When I got into crypto I treated it like a quick and easy way to make some fiat. I got into an exchange, bought some, and sold it the next day with a small profit. I was proud of myself back then which sounds so dumb now. Then I went and bought some more, held for a couple weeks and sold again with a profit. Then I did the math and if I kept holding the whole time I'd have much more. I got lucky and didn't lose money on any exchanges, but it was close. My tip to you is hold, don't worry about short term, avoid exchanges.

When I first got acquainted with the cryptocurrency, I began to collect different coins. And during the market crash, I sold everything. Soon they grow up up 2-5x. My beginner mistake was that I had to wait out the fall. Do not panic when the market falls as the rise is inevitable. At least this has been the case for the last few years.