Bitcoin Forum

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

Luckily the mistakes you said by newbies are done early on as you are only losing a few amount of Bitcoin. If you could imagine this happening to a man with a lot of Bitcoin it could end up eating all of their Bitcoin. The good thing about this is you can learn from your mistakes and avoid it later on. Also the most hardest thing to learn is about trading because there is no 100% accurate forecast about the price prediction of Bitcoin all you can do is prepare for the trend.

I don`t understand 5."leave your money in the electornic money floor."What is the meaning of this?
Lucky for me ,i didn`t made any of these mistakes when i was a newbie.
By the way,i don`t think that 4."Buy and sell based on feelings" is always a mistake.Sometimes the right
decisions are made based on feelings.My decision to join to bitcoin community and get some bitcoins was based on feelings,not research. ;D

Well for me i was not really a fulltime bitcoin user. I was a teacher and its just now that i am into it fully. I have read many reflections and watch videos about bitcoin on my free time. I may not been exposed to it fully but i've learned the basics on youtube. I used to trade vegetebles when i was younger so i really had the grasp of trading with just few trade that i done in exchange sites.

i dont't know why i must Leave all my  money in the electronic money floor can you explain more

Yeah, I suppose these are very easy to make but hopefully they don't lose to much money before learning them. #2 is very easy to make, I mean, I have electrum but haven't even made a backup, just wrote down the phrase. I'm noob with tech stuff. I suppose you meant online exchanges for #5? Yeah, those are really not safe.

You missed the most important:

#1 leave your money on an exchanger

6. Waste time on faucets (we all did)
7. Collect dust and pay high fees on it
8. Leave coins in an exchange
9. Trust the wrong people and get scammed
10. Panic at a price correction

11. Did not take chance to buy Bitcoin cheap.
12. Bypassed good and secure Bitcoin earnings.
13. Baught pizza with several Bitcoins

I've done 4, 6, 7, 8, and 10. I also did "Panic Buy" which is not on the list. What I mean is buy after the price jumps up because you think you are going to miss out, then the price drops.

I'm sure most of us have made a lot of mistakes in the past. The best thing is to learn from them and try to make the best of it going forward. And you can still make a profit even if you lose money on mistakes as long as you keep working on it.

Well that's so sad if exchanges will be disappeared a few days, so for me those mistakes made by bitcoin users merely not a good practices and should be avoided. If they continue doing it and not learning by the lessons from that scenario, I think they will become such a failure of bitcoin profit seeking opportunity for now. I agree that storing your coins at your ethereum wallets can be safer if you try to do it long terms and avoid storing at trading sites so that you will not be stressed thinking about the growth of your funds.

This for sure. I absolutely agree. And of course
#2 Panicselling during the freefall  :D

All listed not just by OP but for others as well is not a mistake totally if newbies did those since they are in the stage of learning.

It's totally a mistake if it's done by an experienced bitcoin user or a user that already in bitcoin world for months but still can't understand even just the basics.


We don't need to pay fees back then when using faucet as payment processors pays for it such as Faucetbox. And upon receiving on the web wallet no need also to pay higher fees because they covered it. Also in my case, if I didn't waste time on faucets, I will not reached my status today. :)

"Do not research new services"? "Leave your money in the electronic money floor"? What kind of "mistakes" are these?

I have always thought that many newcomers have such a strange compulsion to open new threads under any argument, that they tend to write the subject on the fly, as words and ideas spring from the mind rather than adequately document their ideas to conduct a serious and informed discussion about an important issue.

But hey, worse things I've seen lately around here.

I know right? Especially the newbies. But as time passes they learn many things and realizes that this exchanger wallets is not safe. I think the other thing newbies do is not holding their bitcoins. In my early time here, everytime a signature campaign pay me, I usually convert it quickly to fiat.

all that I ever experienced, i dont remember my wallet password, fortunately there is no balance in the wallet.

and i lose my paper wallet, i forgot to put it. really careless me, and about fauchet its realy wasting my time and i leave that

well I already did some of it. the most mistake i did was panic selling at price correction i didn't know that bitcoin would be higher if i just wait for a little time and also one of my mistake was wasting my time to faucets. well im researching for other new services right now i have different kinds of cryptocoins. and I'm getting a profit on it.

I think there are other mistakes like investing their bitcoin in investment plan or buying hash power in some cloud mining service is also mistakes..
That i think this is a big issue right now because almost newbie are investing in cloud mining site and investment plan and scam in the end.
If they know this or read this thread i think it can help a lot for those newbie to know what actually are mistakes can be happen to him so that they will know and be ready about this mistakes..

One of the most frustrating mistake you will make is to trust someone saying you'll get high return of investment. Anything that is to good to be true is suspicious, there is no such thing as easy money. Not in all cases , but you have to be wise whether you are doing right and on the right track. Don trust those who you dont know and not credible , better to earn not that big thatnto risk what you have earned. Another thing I always did is basing may decisions on feeling, I easily  panic when price chage dramatically. So be more intelligent on conversion, gather information before you decide what to do with your bitcoin.

All of these was exactly true. As I experienced I keep on mining btc but do not sure if legit or not. But, I just did. Until my friend told me things about campaign and I realize how effective it is. If these things will happen to you, welcome to the club you are one of great earners.

I still have to add.

1. Obligations with their private keys.

2.forget their password.

3. Buying bitcoins that do not take the timing

It's just a beginner's work on bitcoins.

What you said in your post OP is quite true but if i were to add one most common mistake made by bitcoin users, it is investing their bitcoins into some shitty ICO's that only wants to scam people in the end. Even veterans do this with the hopes of multiplying their bitcoin. I dont say it generally for all ICO but most of them are purely just schemes to gather money with dev only profiting or with only dev and early adopters profiting from their investments.

Almost any error have the same root: be sure to store your own private key, and you should be ok

There will hardly be anyone on this earth who would wish to commit such mistakes which will result in losing his own money. All such sort of mistakes are committed due to lack pf understanding and learning about Bitcoin. You need to learn and learn well before putting your head in it.

Exactly, these are fundamental made by Bitcoin newbies but not old Bitcoin users because nobody will deliberately want to jeopardize his/her Bitcoins by making such elements errors which hitherto was doing as a newbie. We live and learn and as we grow in Bitcoin these mistakes become a thing of the past.

I think of all the mistakes backing up the electronic password is important I have as far as documenting my password in  a secured booklet and kept in a secret place, this very important because I have seen people who lost their password and looking for every avenues to rescue or recalled their password which has proved futile.

I have lost my 100% capital in my initial days of trading but fortunately, I used to trade in a micro amount so that loss never caused a big hole in my wallet.

Completely agree with your list of mistakes and I can confirm that I have committed last 3 of them. However, I think that awareness is the only option to help newbies to learn more about it and to avoid the possibility of loss.

Cool reminders on things that we should avoid.  Among those the hardest is on the emotion thing.  No matter how long we have been trading majority of our fault is due to emotional factor.  Anyway thanks for the list of stuff to be rembered and avoided during our stay in Bitcoin world.  This is a great start up knowledge for everyone that wanted to deal with bitcoins.  Kudos to all contributors.

Well, we all make mistakes especially as newbies. I wouldn't be where I am today if I hadn't make some of those mistakes. The best part about is learning from it. This is a good way of educating the bitcoin users, and I think this applies to all not only the newbies - experience is the best teacher. This should be a reminder for everyone as well, and no matter how long you've been using bitcoin, its always to good to keep learning.

I'm definitely guilty of number 6 and I regret wasting so much time on it. It's one of the reasons why I got discouraged and lost interest on Bitcoin some years back. 

Maybe in 20 years new Bitcoin users say it was a mistake they did not take chance to buy Bitcoin at $100000.

14. Cloud mining
15. Ponzi schemes

Try to learn from the mistakes made by other people. Read about it.
I have not lost a large amount to hacks (knock on wood). In the past I was lucky, now my security is improved to make it less likely.

Good list. I've been a year now dealing with bitcoins and i still am guilty of two things in this list. Though nothing's bad happened yet and hopefully none will. Pretty much nbr 2and 3 are the ones i haven't yet accomplished.

Wisdom can always be gained from the many mistakes we made and maybe some more mistakes we can commit. I also lost some coins and tokens because I got victimized by phishing in the MEW wallet...I can still feel the pain right now but I have to move on otherwise it can make me weak and crazy.

All of the 5 tips above are so timely as we are now in the digital currency age and we have to upgrade the things we know and the way we do things if we are serious in becoming a player in the cryptocurrency market.

LOL, agreed with sixth one. We all have wasted so much time on these faucets to collect the small fraction of bitcoins. This is how everyone started and learned after experiencing these mistakes.

I don' t think that using faucet should be considered an error. I made made 0.1 btc over the years with freebitco.in (and I have very few referrals). Look at my personal message if you didn't know this faucet, and please use my referral.

Yes faucet is a waste of time. We are claiming small amount of btc and they gain a so much time before we are able to withdraw it. I must prefer to trade than claiming into a faucet because trading is also need a lot of time to learn but it can help you to produce a huge profit in the future than faucet even you spend a lot of time there is no changes in the amount of every claims.

All these you have mentioned is actually not compulsory that its to be made because of the checklist, I am actually guilty of say 1 and that was during my early days of trying to get my feet in the crypto world in which I regret greatly but for others I didn't wait to make the mistake before I learn it.

Most of the common mistakes of bitcoin holders are they always do panic selling. Most of the bitcoin holders are panicking if the price of the bitcoin is going down. They will sell immediately their bitcoin because they see that the price of the bitcoin is going down. I can say that that is a bad idea.

'Over the years' you made 0.1 btc when it was worth about $40? Instead, you could have bought 0.1 btc for $40 and used the time to do real work.

Most of the bitcoin holders hold, the traders sell for a quick profit.

I laughed on the number 6 because it's trully right. Almost people that still new about bitcoin always feel that number 6 and even do it full time in 1 week. I also have one, people that still new about bitcoin always think they can earn bitcoin easily but in reality it's not easy as you think and you need to work or do something to earn bitcoin.

As you exemplified on the common mistakes made by bitcoin users, I think the one who can relate to these are those who are careless and do not really want some security on their account or wallet. But I don't really understand what you said in the 4th and 5th common mistakes made by bitcoin users, I think even your a newbie that has interest really in bitcoin wouldn't really do that, I wouldn't buy or sell based on my feelings but I think I would probably use or base it in my intellectual ability and some knowledge about it. Hopefully I don't encounter those one and if anyone ask me about security on bitcoins probably I will tell them use always 2 Factor Authentication and always remember and back-up passwords.

Yeah this is the truth of every newbie in this field because they thought that it is like the Facebook account where to recover the password us a easy way to recovery of ACCOUNT .
Second thing is a big factor that i think that most of people about 60%+ are not using because this is that option where we can recover the wallet event if we lost the wallet password and identifier .
But if anyone not made these things aware then it is more better option for him to get private key of his wallet and then print out at paper and store in offline and also he can save in the online because saving private key is not a big option but puting at bettet place is a better option should be recruired .
Here i am shocked that no one 1-2 years old bitcoiners in my network knows about the bitcoin private key because they were using to store and withdrawal direct Wallet and they are not making research on new service (line 3rd of the OP post ) .

Good list, as your list I still putting almost my funds on exchange website.
Although, I'm understanding the risk when keep my money in wallet of exchange, but my computer cannot support me use desktop wallet many altcoin in one time together.

I will second you. No one wants to earn less. It is just the lack of knowledge and skill set which gets you out of race. You need to learn about the things and market trends in a good way. Only then you’ll not suffer. Besides take some guidance from veterans and try to learn from their mistakes.

Do you remember when faucets sent 6000 Satoshi minimum? In a few clicks in a few hours you reached a payout. With high fees anything less than 100000 Satoshi is not worth anything, and with high bitcoin price faucets pay a few Satoshi per click. Now you need a month to get your first payout.

funny but that was also what i did before specially number six. well after i did learn somethings here in the forum, i just did also my own research so further more i have no worries and i didn't encounter so much troubles in terms of investments and trading like most of the people did. i also learned so much from my friends that was being scammed before that is why i never did what they did before.

Those four things are one the common mistakes that i also did but the 5th thing, i don't know about it. We need to do back up even we don't memorized our passwords because having back up is the best on all things and we also need to do research not only for the new services but for all the topics that we can get something worth it so we don't need to buy and sell based on our feelings anymore.

betting

thats why knowledge and skills are most important if you are entering the world in cryptocurrency, to avoid mistakes you needs study how to secured you bitcoin wallet, mistakes is normal to the people, people got mistakes is the best lesson to correct the mistakes.

Yes, it's the biggest mistake that most of the users does who have been into bitcoin. Other than this the common mistake done were the over expectations and investing into scam schemes where the scammers focus on bitcoin earning in a short time period wasting their hard earnings.

Well said!
However in case of electronic wallets, first can be easily eliminated by simply clicking 'forget password'.
I would like to add some more-
6. Invest in Bitcoin Doublers (do you smell greed!! )
7. Invest in every other ICO (did you smell greed again !!)
8. Invest by following pump/dump groups (ahh! Thats too much of greed. ) :D

Greed, yeah, that's my favourite one too...
I wouldn't even call it a mistake anymore, it's the ability to remove all rationality out of the brain.
Luckily it gets the punishment it deserves most of the time.
I don't understand it why it is so common. The people already have a perfectly well doing investment with bitcoin.
And yet they believe completetely irrational stuff they read in unverified sources.

I agree, betting is probably the worst one out of all the mistakes that have been named. Betting can also be translated to reckless trading, jumping on hype trains, investing in pump and dumps or investing without taking the time to properly research the coin. I didn't waste too much money on betting but I still wish I didn't.

Betting is not related to Bitcoin at all. There are hardcore gamblers who have not even heard of Bitcoin. Bitcoin may have facilitated online gambling, but you cannot call it a common mistake made by bitcoin users.

You are right, learning by mistakes it is much better than learning without any experience you do, because when you loss we get a lot of lessons and thinking a lot and ask ourselves: Why i did that?
So, we should be carefull when we use money, because when we loss an important think, for exemple like private keys of wallet, or anythink like that, it will be one of worst think in our lifes.

So we should learn out from our mistakes.

I think the most important mistake first is to take Bitcoin in high quantities at first, and then lose Bitcoin, which must be tested with small quantities at first, then the quantities are enlarged.

Haha, I remember in the past, if you claimed faucet diligently, today the profit you receive from faucet everyday maybe enough for you buy many things needed. I have a brother earn faucet 10,000 satoshi per claim and he has sold all his coin with low price in that time :D

Up to some extent we can label it as mistake because it is foolish to gamble with such expensive coins. Bitcoins are used in online gambling and true addicts often lose great amounts here. Bitcoins should be treated as long term investments to have secure and shining future.

Can you add posting advice for the rest of us when you're just a new guy, LOL. Just giving you a hard time those are good things to remember. Trust me would make more mistakes and we would care to remember.

Another mistake of common phenomenon is greediness to turn $5 to $50 wthij a matter of days without any effort just to put it in a site then come in the next 5 days to see it has turned to their dream value which in most case not like that. Another is the ability to trust early this is something common in dealing with either individual or a site based on previous trust garnered without doing a further research whether the trust is still standing or crushed.

Let's admit that we all did this when we're still a beginner and for sure even now.
A lot of mistakes that taught us to learn new things and not to do that again.
I just smile when I read these like being nostalgic. Haha!
I must say experience is always the best teacher to all of us like if we didn't experienced these we're not here in where we are. And making mistakes at once or twice is fine but when it's done repeatedly it's already foolishness.

The most common mistake which most of the Bitcoin users commit is that they panic themselves when they see the market price going down and hence decide to sell their Bitcoins at very less price. They actually can’t control their emotions due to which they suffer loss.

Didn't done this mistakes when I was a Newbie,  but dont get me wrong but I find this wrong this number 4 because what will be your basis when you buy and sell bitcoins?  It will be your desire and feelings who will decide for you since its yours Im sure you make the right decision for yourself right?

Most of us must have done these mistakes since we all came as a beginners. Maybe we could start a new topic like what have you learned from your mistakes during your first times  :D I just got concern with number 4? Because what will be your basis when buying and selling your bitcoins if it is not by feeling? It will be your desire and feeling after all because it is yours to decide

The title is misleading, this is only happening mostly for the newbies or newly entered investors that just recently known that bitcoin is profitable. But there is one thing that is being done by almost everybody here, regardless of how long he is staying in bitcoin. Everyone can relate themselves including me with #4  ;D I'm one of those people before and somehow until now that is basing trading with my feelings.

This is happen for newbies traders that experience the mistakes. And it serves as a lesson not to bring these things during trading. Buying and selling with emotions will bring a mistakes rather analysis must include in buying selling bitcoin.

For the first rule i advice to use various encryption methods for private keys with easy remembered/known passwords  ;)
BTW without back up everything will be hard and dark in case of useless hard disk ;)

Did you mean "must" is supposed to be a must not?
To answer your question, my opinion on this is is that "electronic money floor" refers to your electronic wallet? Or maybe the BTC platform for trading. Let us admit that electronic platform can be quite unstable and unsecured due to malwares or computer viruses that may hack up our system and may potentially get what's stored in our wallet. I do hope that BTC systems will enhance their security features so that threats like this will be eliminated.
Anyways, I don't think that storing it up in "electronic money floor" is a big mistake but rather a risk that you have to take just like investing in a normal stock market. Bigger risks is bigger return.

Bigger money means being meticulously picky on any wallet that you would want to intrust ur money so i wont really blame people if they sometimes are not sure on where to store there wallet so lets just leave it at is and give them advices.

not all bitcoin users do that, and some have backed up their data if they forget the wallet password, like me, I have backed up data since I played bitcoin.

That's the true list of common mistake made by end users. It's really important to store all these things to get access to the wallet, vault and electronic medium. For the multi currency wallet it is even dangerous to loose your private keys or keystone files if you are holding more than one or two tokens in it. I have seen people loosing keystore file for myetherwallet many times and loosing ten to twenty thousand of dollars in a single shot. That's really bad habit to not to save all these phrases, keys and passwords. Hackers are always out there and they will never ever leave a  chance if they find someone like this. Better save the private keys in three different locations.

Those list are true. It is essential that we always remember our passwords in any of our accounts because we really need to secure them. If we really want to earn large amount of profit we must work for other services, we must not settle on easy works. We should also try other services such as trading, mining and others even if we still haven't tried once. We need to gain experience from that. Also, we don't depend on our instincts and feelings, for we must know the little things that revolves and are involved in that particular service.

You are right Mr. Tan. Sometimes, we made any mistakes and the end we are regret. Always be carefull in step by step or you are regret the end :)

Thats right many people do these five common mistakes, i advice people who forgot their passwords again and again please save it on your phone,when you forgot it you can find it on yiur phone

I thought the main mistake is not to buy some other currencies )

I do not understand what you mean, but okay I will answer.
I think it is a matter of experience, a mistake is always there if we are careless or lack knowledge about knowledge or rules. so always try to read every rule btt or project bounty.
experience is the best teacher ever.

To be frank this is best short summary of bitcoin users which are found in the crypto community. This is what is followed everywhere here and then they start panicking about it after getting bad experience.

I have seen so many threads in the services section asking for the help regarding their lost passwords or keystone files. That's really insane thing, as how they could not write down the keys or save them as copy in multiple places. These all are electronic stuff and they could get damaged with anything in daily life.

Truly it's laziness of people for not managing the stuff properly and nothing else.

If the average person start using Bitcoin, I say a good chunk of them will commit mistake number one and number two. And that can be a big deal in adoption.

The main mistake in using bitcoin is when we want to send bitcoin balance to another address, but we use an invalid bitcoin address or address, so our balance will not be sent.

I agree with this answer, this will happen if you don't have enough knowledge in bitcoin and in crypto world but if you can adopt and know what bitcoin is all about you will be one of those successful earners.

And one more thing : Not learning from past dreadful experiences.
A lot of people including me have made stupid mistakes over and over and still continue to do so. From using exchanges as a main wallet to gambling all the money you have in time span of minutes. If experience cannot help a man to stop making mistakes then I don't know what will.

And let me add :
Waste time and efforts in bitcoin faucets that only the creator of the sites are the one who is truly earning over time thru distracted to cpu  advertisements and high mb to load

Totally agree. Also Panic with a price correction. I happened several times but people still panic

Usually I am forget in your list number one. Wallet and private key is really long numeric. So I am back up it on three different places :) I hope many brother and sister always be carefull although just fill the form :)

The most important mistake that most of them make, is just that they do not protect their wallets, they just forget about it and maybe their private key will get leaked & they will lose all their coins.

Don’t start mining expecting big profit and always use 2-factor authentication on their exchange accounts. When trade people usually try to win back their losses by over-extending on bad trades!

This is all absolutely true. And one more thing, investing in different sites without knowing or checking any background if its legit or not. Doing a panic selling is also one of the biggest mistake for some of bitcoin user. Patience is a key element of success. Always remember the best things in life comes to those who wait patiently.

One more mistake: buying something with no intrinsic value at 30x the price it quoted two years ago.

In number 1 encountered that problem when i was creating my ethereum wallet I've lost my phone together with my private key i did not put an back up so they LOST together, and have tokens and ethereum balance worth of $500 i think. So that was my big mistake, then i feel that number 5 that leave my money in the electronic money floor. I have my address but i can't open it if i do scan in etherscan.io my balance was still there, the i was knocking on my head and say (WTF) ;D

Yes! I agree always make sure to backup your entire bitcoin wallet early and often. In case of a computer failure, a history of regular backups may be the only way to recover the currency in the digital wallet. Make sure to backup all the wallet.dat files and then store the backup at multiple secure locations like on a USB, on the hard drive

You were right, leaving one's coins in an exchange should not have missed that list because it is a situation till date that have been killing bitcoiners softly both newbies and the experienced alike. One was going to think it was all going to end with Mt. Gox, but how wrong one turned out to be. As at today, there is not one cryptocurrency exchange site that is safe and anyone still using them for services other than for exchanges is at great risk of losing months, if not years of efforts in one swipe.

I can totally relate to theses except to number 5.  I always forget my electronic wallet password. I dont also have back up for my wallet, and in addition to that I always forget to reach to requitements of the signature campaigns I am in.

I did not do these mistakes, because i think about every step i am going to do. If you do that you will make less or no mistakes at all. I also research before investing in something, because sometimes your feelings can hurt you.

Just sell their money because they are afraid of what is probably going to happen.

Or just use exchange wallets instead of using a paper wallet or a hardware one.,

Well is quiet unfortunate that we where all once newbies in bitcoin and hard made several mistake as you have listed some above, but the one that is not clear to me is the # 5 leaving money in electronic money floor, what do you really mean by that. And the point I want to add to it is wasting time doing faucets, getting scam due to our quest to get rich quick and storing our bitcoin in a wallet then loosing the wallet seed, panic selling as we are seeing now and our inability to carry out research about a cryptocurrency before selling our bitcoin to invest in it and at the end the coin turn out to be scam.

As a newbie, the mistakes I've done is not checking the address I sometimes send to and placing the wrong fees that would cause my transaction to get stuck (though back then I was able to accelerate them using the free accelerators but they don't work nowadays). I think most newbies will experience this. The use of bitcoins has a steep learning curve especially for people that don't have much know-how in using it, so it is expected.

Being unaware of or inability to identify phishing and phishing attackers. Attacker impersonates reputable sources to lure victims to give money, or give access or data the attacker should not have. It is common on Slack and other cryptocurrency platforms and messaging services.

I also made mistake sell based on feelings but from that I learn how to be patience and how to do not panic when bitcoin price goes down, I should believe if the price goes down just temporary and bitcoin price will increase again..

I do agree these are some really common mistakes that bitcoin users make. Out of all 1st one is common among all. I've seen people from 2010 who have more thousands of bitcoins in their wallet but have forgotten those 12 magical words. The 4th point is yet another common thing. I have seen most of people in loss because they do such things. They even sell their alts at high losses when BTC climbs up instead of waiting for a day or two. Panic is the main culprit out here.

Those that are listed are common to a new users, I was like that when i was still new in Bitcoin because what i want only is to be able to participate without knowing the importance of those. But as soon as my wallet getting fat i was able to realize that i need to secure it very well to prevent getting hack.

We all made a mistakes but the good thing is we learn from it and chances are we can still do better. We trade with zero knowledge, invest without studying and so on but hey keep on learning because in this kind of market mistakes can brings you so much loss so better no to waste this great opportunity to make money.

The panic buy is a pain in the ass  :D :-\ I've definitely fallen for it once or twice. Always tends to be okay in the long run though. Number 4 and 10 are definitely the two that have gotten me.

Nice addition sir. I think OP should post or make a poll regarding not the common but the top five mistakes done by a newbie. Everyone can relate on the faucets and I thinks thats the number 1 mistakes. Hahaha  ;D

    Wanna know the biggest mistake bitcoiners or at least newbies in the crypto world? Well, for me it is being too lazy to study the mechanics of bitcoins. The way it works, the systems, the things that are included, the history, etc. Which all make a big part into knowing what you are doing. When to buy, when to sell, when to expect bug corrections, although it cannot guarantee accurate predictions, it can guve you better chances into earning profits. That is what i think.

I have made plenty of mistakes when it comes to Bitcoin.  Mistakes are part of life.  I have learned mostly through my mistakes.  If you are learning is it really a mistake?

The first time I took interest in Bitcoin(no pun intended) was around 2012.  I was using it buy things.  Goods and services traded for Bitcoin.  This may be thought of as a mistake considering the growth of its value these last few years.  When i first realized this myself I thought it was a grievous error in judgement.  After a half-minute of kicking myself I reminded myself that Bitcoin was meant to be used exactly in this way.  Its a currency not a piece of gold.

Maybe it is not so much about avoiding mistakes but learning from them.

Right I always forget my wallet password & also this forum account password.  it is so irretating always.

Always making panic that would be one of top 5 reasons that bitcoin users are making, avoid this one so we can have a profit that we want. I also have made mistakes for the past months that I joined here and one of those is that I am always doing panic selling whenever I am seeing the price getting low.

Being so careless about account information pertaining to bitcoin wallet's information and got hacked letting that person loot everything you have in your wallet. Then the other one is don't know how to HODL, instead, they panic sell when the price started to go down.

when I was a beginner I did not make these mistakes, because I have to learn, and think with my head :)

I love this

It is a mistake to consider that bitcoin is anonymous. The receiver and the payee can be determined. Some believe that it is possible to get rich quickly on bitcoins. This is not so. there is a lot of time and income is minimal. Bitcoin payments can not be withdrawn. Error payments in bitcoins are not returned. You should not buy bitcoin when the price grows. It should be remembered that the excitement is created artificially. Bitcoin has the largest market capitalization. He is king among the Crypto-currency. And exchange it for other altcoyins, too, is not worth it.

It takes time and they should understand it as you said; they lose patience and sell bitcoin so yeah it is huge mistake that most of the people use to do, they become impatient for fast and quick profit, some new users use to buy bitcoin but they are not much experience or they are new so they don’t wait for price to get a bit down buying high and selling low is one of the greatest mistake.

Leaving your money in exchanges or online wallets is a very common mistake as well, people do so since it is way easier than to store your own wallet and you can have access to your money anywhere in the world but the chances to get hacked are way higher because of that.

I guess forgeting electronic wallet password  is the worst.  Because you can't  access your wallet anymore.  The yokens in your wallet will be wasted.

This is dangerous and to avoid this kind of problem they should write it somewhere or can save the number in your bitcoin wallet so they will not forget about it. It is also a mistake and other mistake that they use to make is selling bitcoin at low price without waiting it to rice so in short panic selling and impatience are common mistakes people use to do, they should buy at low price and sell at high for more profit.

This is the most common mistake made and getting online hacked is the major reason for highly recommending offline wallets. Offline wallets are expensive but the level of security they provide is unbeatable. Hackers can have access to your hard earned money only when you are giving them chance by staying online and keeping your money on electronic forums. Moreover never ever go for those sites that offer free coins.

Most probably the biggest pain one can experience in his life. I cannot even imagine this happening to me, it is like a nightmare losing all your coins just because of memory loss problem. That is why it is suggested to write down important passwords on a piece of paper and keep it in some safe place. I have forgotten password of my Gmail account once and honestly it put me in a great trouble.

In my own thoughts and opinions regatding to my observations to the people here in the bitcoin community that is either investing, trading, or anything that is affiliated to bitcoin transactions, here are my top 5 fatal mistakes many bitcoin owners tend to do.
1. Selling something valuable to invest on bitcoin
2. Being careless about their bitcoin wallets
3. Panic selling
4. Not educating themselves on the market
5. Mistaking bitcoin as just some kind of way to earn profit.

So experience is the best teacher. no more stupid act like selling your bitcoin when the price is low because you panic see the market become blood and you're afraid of getting bigger losses. is not the experience already giving the lesson to you that bitcoin prices will definitely pump after a price drop? why are you always repeating the same mistake?
as it is today the price is in low position. be patient, because bitcoin will surely pump in the end

E-wallet password? You mean private keys? This will be the worst thing if somebody forgets his own private key, its fine to forget username or password as long as you have the email because you can use the feature of forgot password. But if the seeds, mnemonic words or private keys are forgotten those tokens or bitcoin on that wallet will be lost forever.

I think emotion is the reason why we do again the same mistakes and lock of trust, if you really believe in bitcoin you know that you don't need to worry of what's happening now because we know at the end bitcoin will recover.

Its unfortunate because the most important is your wallet keys/password. Luckily I didn’t have an experienced like those listed. Only mistake I made so far in bitcoin is when I joined a bounty campaign and wasted my effort and time because I wasn’t able to follow the rules and guidelines of the bounty. That made me very  disappointed because after the bounty campaignwas finished I didn’t get any token. But I learned from it so now I know what to do.

Common mistakes made by bitcoin users not remembering a wallet passport, no bitcoin wallet back up, buying and selling based on emotions, leave funds on an exchange.

so far reaching this rank,only one of thos that i have made,not remembering my ectronic wallet pasword and i gues this is certain specially for the newbies or those just starting their career in this community.but other than that i made no mistakes at all

Panic selling is the most common and silliest mistake made by bitcoiners. Bitcoin is the most cherished and demanded coin and I don’t understand that when they know this thing, why they are not able to avoid panic selling. Even last year, bitcoin decreased in value so much but later on, by the end of year it increased drastically making all the bitcoiners to feel on the top of the world. You should be very much confident regarding your coin.

Another huge mistake is to install wallets from unknown coins or to install not known wallets for famous coins, most of the time those wallets have malware and have no other intention than to steal your coins so people lose their bitcoin just because they are trying to claim and unknown coin.

 I think the common mistake is.
1. Buying bitcoin in a time when it pump up!!
2. Selling bitcoin in a time when its dumping.
3. Store there btc in a wrong wallet.
4. They always investing and not reading the profile of ICO or a investing assets

1.không biết cách giữ btc một cách an toàn
2.quên mật khẩu
3.không biết các dịch vụ và tính năng mới
4.không xác minh tài khoản trước khi giao dịch
5.không nâng cấp độ ảo mật cho tiền của mình

The mistake you said were done by the users in the past that was years ago when btc did not have much value as those days everyone used to get random free btc per day and almost everyone used give free btc to one another those days the users were not much serious nor thought that it will reach in this on the market.Now that btc is popular globally and it value is worth and so nobody is so careless to miss out their wallets keys and i don't think the users leave their btc on online wallets most of them secure it in the offline wallets which is considered to be safe guess you are not much aware of it as you are still a newbie Then buying and selling based on selling based on feelings is not something which is just done on btc i am Forex trader and i do trading based on my feeling and it has always worked out well so never underestimate anything.In this age where btc has its value nobody leave their btc on electronic floor infact it is known as cold storage of btc it happens when a person miss out their btc private key.

Well this actually are technically mostakes but I don’t think that any responsible or thinking person would be able to do those things especially number 1 where if you forgot your password then boy are you in a jiffy. Number 4 is actually the most common on newbies and with it it can show how unprepared a newbie is in the flow and ebb of the prices in bitcoin

Leave coins on the mining pools - they often close.
To transfer immediately a large amount of coins, it is better to try to make a transaction with a small number of coins and then transfer the principal amount. But even such precaution does not give a 100% guarantee.

To be honest back when I was a newbie I don't really have a backup wallet.
But I did manage to earn some money and when I found out an offline wallet or hardware wallet I did buy some to secure my bitcoin.
Luckily I didn't encounter any more mistakes and didn't have a problem in it.

I would say the biggest mistake is reveal your identity and showing that your involved with crypto. Not saying this because of tax evasion but because of all the people getting kidnapped, beat up, and held up at gun point the past couple of months. Granted most of them are prominent public figures, but I would want to remain anonymous nonetheless.

One thing is very much right and that is in the world of crypto currencies, you only suffer loss because of your very own mistakes and that if you somehow managed to do all the things in the right manner, you will not be suffering any loss. The most common reasons which lead to failure are loss of control over the emotions, going for panic selling and most important making a decision without giving enough thought.

A wallet carries lots of different addresses, and the digits are too long to carry up in your mind, unless you will have to copy down a particular one and focus on it with an intention to make use it as your main address. Not backing up your wallet is quite a big risk for anyone to fake, and I wouldn’t try such. As for researching new services, I don’t think that one is a compulsory thing to do.

1. Panic selling when the price drops. I did it last january. And i will not do it any more. I learned from it.
2. Buying stuff from bitcoin even if those are not that important or necessary.
3. Forgot btc wallet password
4. Copied the wrong btc wallet address

In my experience as i don't see if i've made a mistake on this matter,we are being scammed.Token were just like an air that was just passing by,it feel so embarassing when you exerted alot of efforts on doing those weekly task inorder to get paid.An ICO has already ended,we keep on waiting for almost 3 months i guess but we are waiting for nothing.Everything was just like a nightmare to all bounty participants.

It’s good that you’ve learned from your mistake of panic selling. Many who have experienced this give up totally because of their fear that they may lose more money in the future. They have been traumatized from the experience and choose no longer to engage in crypto ever again. It’s actually hard to control our emotions. We sometimes say that it’s easy but once we see the charts go red, we have our doubts and sometimes become impulsive.

What's wrong with panic sales? People who sold their bitcoins in December increased their capital by 3 times. Those who held their coins will recover losses. Perhaps this will be in late spring. But the alarmists during this time increased the number of bitcoins. Which strategy is better? Do you agree with my argument?

For the one who just jumped into bitcoin and another cryptocurrency world, it is better to play with a little bit of cash first and try to make some experience in it (whether it profit or loss) until you find your best pattern on the game. So you don't suffer a lot of losses when some bad thing happens to you.

number 1 is the most common mistake by the bitcoin users, especially for the early adopters that bought bitcoin when the prices were below $ 1. :D

11. Do not educate yourself
12. Do not read references about services
13. Leave coins on the mining pools
14. Transfer a large number of bitcoins
15. Do not CHECK twice or 3 times where you transact!!
16. Do not read the profile of ICO or a investing assets.
17. Tell everyone you have bitcoins

What a useful thread. A reminder for everyone, not only newbies.

What's wrong? You are adding to the crash causing more panic. Somebody has to be the smart one and say "fuck those guys, I know what I'm putting my money into and I will stand by it". If every person was a panic seller it wouldn't stop at $6000, or $3000. It would keep going down until the it reached a few dollars and there would be only some guys that bought and forgot about it or lost their passes left in with the money. When you panic sell you rarely think it through, just follow the crowd. What if you end up selling at the bottom of the slope? Selling in general is not bad, panic selling is.

Buying scam coins is a very common one, our bitcoin is very valuable and the more valuable it becomes the more the scammers want it and the more effort they will be willing to make to get it and since it is impossible to recover once you send it then you only need to do one mistake and it is over, bitcoin is not very forgiving to those that exchange it for a bunch of useless tokens.

Most of the mistakes you mentioned above are usually associated with crypto currency newbies of which at the end they learn a hard lesson from their mistake. And in addition to your submission above, i will like to that is very risky for keep his or her money in an exchange wallet for a long time.

Probably that 5 mistakes will just did by newbies. A lot of users in cryptocurrency are always failed when they are starting to use the bitcoin. So, I better research and asked first to the veterans in cryptocurrency before I started to click. I better look on how the process even the important things to be kept like back up files because I want to assure that everything I will do is right.

I don't know how long are you in the internet world before you got here, but the first people who got here before the mainstream of cryptocurrecies are those who are internet geek. That means they have a pretty good foundation on what is the right thing to do on the internet and they are always double check what are they doing online. Those newcomers in the crypto world (mainly because they smelled some money) came here without proper knowledge so they are much prone to hackers.
They really don't know how this thins work and they don't have proper knowledge in the technical aspects.
The worst is that they will try anything just to have some cash that's why they are easily persuaded by scammers.

There are steps on how to stay safe online and one thing for sure is your computer must be secured and you must know a lot of stuffs about bookmarking proper sited and to click what is right or not.

Yes that is right we get experience with the passage of time and after getting some good lessons, i think that the most common mistake that we make in bitcoin taking is not to take a right decision in a right time time which in fact create a big problem for us. If fact we can overcome such mistake after passage of time.

These point can be done only by newbies, and people learn from their mistakes. I myself did many mistake when i was newbie. Later i understand what is right and what is wrong. The biggest mistake is people are using online wallet. They're running it on risk.  I've never use electronic online wallets but i believe in software wallets which can gives you highly security and secure in all formats. I don't get your 5th point. It is much more better if you explain it.

No they don't. Go to the services section and check the number of threads with people asking if cloud mining is profitable or go to the gambling section and see how many are investing in hyip schemes. They know that it's the easiest way to get burned and lose money but they do it anyway.
It's smart to point out the most obvious mistakes because those are the also the most common.

New guys most of the time get warned for the mistakes you name .
I think the biggest mistake is after they made their first money they think they know it all.
But there are times in this market where even a monkey can make money, the hard part is making money in stagnant times.

Can you just imagine how much locked wallets without the proper password and seed with the nice amount of the Bitcoin in them are circulating through the network without any possible means to open them? Many of the early adopters are bumping their heads today because this mistake, forgotten password, that was not very well taken int the consideration in the very starts of the Bitcoin.

There are also some other mistakes besides the 5 mentioned but if someone is entering the crypto world it is his responsibility to obtain the proper knowledge before even advancing to the next stage of obtaining the cryptos!

Yes but Bitcoin is a cryptocurrency so i absolutely agree about all the 5 things that the OP listed.

The best thing in my opinion is that how much you can learn from the mistakes of the others, because this platform is full of mistakes and their remedies and certainly at some stage wise people have also made some mistakes, but they have given the reasons and the precautions, so how much are you going to save ourselves from those things. Also if at some point you have committed some mistake and got penalized than try to educate others so that at least some one can be protected.

1. I experienced it. It hurt a lot because I could no longer access my hard earned money, but I was really careful after that incident.

3. I was a trigger happy newbie before. In the end, I wasted my time in an ICO.

This are common, another thing is sending bitcoin or any other coin on a contract address or wrong address. We should take note that transactions on blockchain is irreversible, so users should be mindful when doing transactions. I have learned my mistakes a year ago, and now, I am backing up and securing all my funds in a hard wallet.

Some newbies never learn their lesson for different reasons, some newbies make so many mistakes at the beginning and lose so much money that they never get in bitcoin again, so they never learn their lesson and another group of newbies make so many mistakes they decide to try to recover their money and as a result they make even more mistakes and run out of money and do not have the possibility to correct their mistakes anymore.

You are absolutely right..some new crypto enthusiasts commonly make such mistakes. They do not understand that it is not possible to recover the password of private key wallets.
Buying and selling based on feeling is commonly seen among amateur traders. To understand market tech. analysis and experience both matters alot.

I fully agree with the top 5; plus I can add - 'treating bitcoin as an investment vehicle'

Yes this may be happening also today for those who are still a newbie. But we will learned from our mistakes and never do the same mistakes again. Before i always forgot my wallet password and that is a big mistakes i had made because that wallet has my bitcoin and unfortunately i cannot recover it again. But now i always note my password and never give my private key also to anybody.

I do not see anything wrong with treating bitcoin as an investment vehicle yes I know that bitcoin is currency but all the currencies of the world are also investments why bitcoin should be any kind of exception to this rule besides if you see the movements of bitcoin over the long term, the profits it generates then thinking that bitcoin is an investment vehicle is the most logical conclusion.

All the currencies of the world are unprofitable investments.  :D

I think here Bitcoin is the exception. While all the fiat currencies showed to be unprofitable, Bitcoin showed itself very valuable and profitable on long term, using the volatility at your favour. Bitcoin can be a currency, but as investment is works too, so I think the mistake made by some Bitcoin users it to close their eyes to this fact...

I agree. when I was new in this crypto industries I forgot my password twice and I also did not back up my wallet, the last one is very true I cant deny that I cannot control my emotions before when I was starting to trade. But past is past I've already learned for my mistakes.

I agree with all your list and just to add some more, Panic this is the main mistake of us Bitcoin users especially the newbies. They panic when there is a dip that they tend to do panic sell due to the fears, uncertainties and doubts. Because of that they will also missed the opportunity to buy more at a lesser price. It would have a domino effect on the actions they will take and the results that they will eventually have. Hopefully this post will help us all to avoid these mistakes to ensure that our Bitcoin journey will be successful. :)

did all of that are made by you I can't understand what is the meaning of number 5  can you drop a little  info here

visit a site and by chance there ETH address as copied
visit a site that made by pishing
a ICOs that scam
airdrop that giving a shit token
 
I think this are more common mistake too

Lol, but still an unprofitable investment is still an investment, bitcoin is an exception right now but in the past when money was made of gold, at least you didn't lose money after all an ounce of gold is still an ounce of gold no matter where you are, but now that money is not backed by anything gold does the same it goes up in the long term but at a slower rate than bitcoin because as we know bitcoin is a very new technology and it has not been around for long.

actually I would not compare bitcoin for gold, because it's two different values ​​and there will never be bitcoin wearing the same value as gold. Assuming there is no electricity or internet, your bitcoin will be completely lost. And gold will last forever.

I never thought it was a mistake that I often do, but there are some things that I do not understand here, but it's okay
I will look more closely and learn more in order not to experience the same mistakes again, and I will tell my friends not to make mistakes like I do, thanks to this very useful information  ;D ;D

Thank you for this thread. It helps me a lot. i never realized that what I did was not right until I read this. Aside from that we must read the rules and regulations as we join bounties. And always check the spreadsheet.

we all have come to experience all of these, but as you invest your time in bitcoin, all of these are great teachers, we all once became a newbie. we all have suffered loss and learn from these mistakes. but these can also serve as a reminder to all of us, but what i didnt understand is number 5. do you mean leaving your account unlogged out on a public place?

Thank you for this thread.Hopefully this post will help us all to avoid these mistakes to ensure that our Bitcoin journey will be successful.

Based on my observation, the five common mistakes made by bitcoin users are they don't hold their tokens, they can't wait to sell their token if they can gain even just a little bit amount. They sell it right away if they don't have profit anymore. And in posting or campaigning, they post right away in some topics in bitcoin forum after they post in the other one. Also their posts become out of the topic in the subject that they chose to answer.

Most of the time we have seen bitcoin user also doing mistake which is panic selling,
one more mistake i wanna add here saving the pass phrase for changing the password.
Most of people trading bitcoin as a short term investment

Leave your money in the electronic money floor .. I do not understand why to leave the money on the electronic money floor ????

To add on it.  Some investors use to get their funds,  when the bitcoin price drops. They should let the money on it,  whatever happens.

another mistake
instant buy instanst sell , panic when trading , never research about some web and the end its getting scammed

Mistakes №1,2 and 4 are the most important to remember and fix. You need to watch out for your money and be patient to not lose your investments on panic selling.

yes agree, I am a beginner to learn from the mistakes listed so we are always careful in doing the work to avoid the nature of carelessness that is often done.

The sad part about all of this is that even experimented users make mistakes with their coins all the time, this is because they do not have the discipline when it comes to how to use their computers and the Internet many people are used to click every link they see or to open every piece of email that they get in their inbox, that is not a big deal if you're only using your computer to navigate the Internet recreationally, and to play some games, but if you are using your computer as a way to store your possessions you need to be a lot more careful than that.

Currencies aren't investments, they represent all the goods/services created by mankind (that is, "value"). Because they are a representation of value, and because value cannot be stored indefinitely, currencies have to depreciate over time as a function of this. If you grow corn and sell it for $100, someone is going to eat that corn or the corn is going to spoil and become unusable, so the value of the corn no longer exists in the world, but the $100 you earned from it does. This constant value destruction means the money that represents the item that no longer exists cannot be worth the same amount either. Currency inflation accounts partly for this constant value destruction.

Do not remeber electronic wallet password. If that happens it is completely shamefull. But I bet there is a way to recover it. As for buy and sell based on feeling it's not about bitcoin it is about all sort of trading.

Among all these things, I personally believe that number 3 has the most impact. I mean, that's the most important thing for me. Keeping myself updated with the latest trends the cryptocurrency world helps me in making investment decisions and whether to hold or sell (yes, I'm talking to you #4 on the list). Also, it enables me to help others who are just starting out here or would simply like to expand their own knowledge.

For numbers 1 and 2, they're also important because they ensure the security of our e-wallets/accounts and earnings.

Thanks for sharing your list.

I have seen so many threads in the services section asking for the help regarding their lost passwords or keystone files. That's really insane thing, as how they could not write down the keys or save them as copy in multiple places. These all are electronic stuff and they could get damaged with anything in daily life.

This is one that i need in my bitcoin. I want to know some tips because im a newbie here and searching for another tips. Keep it up guys. Thank you for concerning other bitcoin users.

Private key is the most important thing that they need to back up compare to the passwords and other stuff. A lot of newbies are just feeling safe with saving their private key and putting it into the other folder but with the same computer and once their pc got infected their funds got stolen because of their laziness of putting it into a safer place.

Maybe the point that is at 5 is not to leave money on the exchanger.

Ah you forget the worst thing a beginner does, panic selling  lol. They quickly sold just because the price started to fall just a little. I hope this thread can be a guide for some new beginners who join the forum.

I have made some. Of the mistakes that are mentioned here just like buying and selling based on my feelings. But I can tell you that sometimes it doesn’t really turn out to be a mistake but a really good decision at last. You know this is a business that has to do with having luck on your side. If luck is on your side that moment you just make the right decision, and sometimes you fail. Another thing is not researching new services. Yes, I don’t really have that time and sometimes I do rely on my. Friends to get information on new products and services.

I would add, holding all of his investments on one particular wallet. Being impatience, being greedy, stop studying after all.

The five things above are common mistakes that beginners do not fully understand how bitcoins work. Hopefully the above five things can be more attention again by the beginners bitcoin users so they do not continue to complain with the losses caused by their own negligence.

This is true, and as much as possible, I encourage everyone to please be mindful of those things. But then on the otherhand, we are not perfect. we can always commit mistakes. But from those mistakes, let's try to learn. Get what should be improved more and then work on it. From that mistake of failure, you will become knowledgeable and become a wise person. Thus it will make you an expert.

You are right, current users of bitcoin are most likely to suffer from the above five errors, if one of the five errors as mentioned above, the user is likely to lose large bitcoin. So, in order to fix it, we should look first, and be careful when backing up the bitcoin wallet and bitcoin passwords, avoiding the wrong times in the transaction.

Thanks for your valuable information, I make a mistake previous like one of those but now I'm carefull about that.

What I am seeing from most users whenever they are seeing that the price is going up they tend to panic and withdraw their funds without analyzing, what they want is a sure profit which I cannot blame them for that too.

That happens because people are not used to do that in their everyday lives, I back up my files after some months that way if my hard drive were to crash and I was unable to recover the information I will not lose all my files, but how many people take those precautions? And I think the answer is very few, this is why you see that many threads of people that have lost their passwords or their seed words, this is why cryptocurrencies will require a change in the way people think about their computer files, for most people their files are not worth anything but in our case our files could be worth a fortune.

I think you are talking about the problems that you see most often. Whatever the level of knowledge or level of experience of the investor, I believe that these mistakes have been dropped at least once. If I say that I have done nothing wrong with these mistakes, I will not believe. Every investor has certainly made one of the mistakes in this topic. The best thing new investors can do to survive these problems is just to investigate and read the comments of experienced people and comply with those comments.

People don’t show much care regarding their cyber activities. Majority is careless about their credentials. Due to this ignorant behavior, one way or the other, these people lose money and personal information. It is a dilemma of present world that they are unaware of risks involved in cyber space.  Forgetting password is a very common trait among internet users. Knowledge is the only solution for sure.

agree, these mistakes are a sort of mandatory thing or natural thing and a given mistakes for newbies, we all once became a newbie, what is more important is now, we are already aware of this mistakes and this also serves us as a reminder. honestly, electronic and digital stuff are not easy for a common user especially he is new in such platforms like bitcoin and blockchains.

Made me laugh 😂 this are the common mistakes weve done when we are starting,and sad to say even those long here still having this kind of wrong doings..but most of the users here experience the Forgotten the Password and not researching the new services.and the last but not the least,is Buying and selling based on feelings,though for me this isn't a problem because i trust my instincts and luckily this never fails me more than I succeed

The first one is too dangerous and we have seen many threads here that many people after many years have forgotten the wallet password and can't access their (golden) bitcoin which is intense.
Backing up the wallet sometimes it works sometimes it doesn't because people make backup but they don't test if they can really restore the wallet as it can happen the wallet can not be compressed or failed to be so.

I agree with this list of the most common mistakes, among which the number 1 has happened to one of my friends. As for me I have saved my password safely and hope not to lose it, otherwise it will be a real disaster

Not using Two Factor Authentication. This is very important for web wallet users. Because web wallet lets others access your Bitcoin balance from anywhere. If your password is caught because you hit a keylogger, at least Two Factor Authentication still protects your account.

You should put that also on the mistakes of bitcoin users, trusting online wallets. The very reason why we used cryptocurrencies is that we can secure our own assets by ourselves without relying or trusting anyone else to do it for us. Basically, using online wallets defeats this purpose. It is quite hard to secure it yourself as if you lose your mnemonics or password or private keys the funds in their are lost forever, but that is the sacrifice you have to take to be able to secure your own assets.

Yes mistakes are common in all field and people learn new from your mistakes that's why many people saying experience is very much important in this crypto currency field so make some experience in this and mistakes will not happen.

This is logically valid point. Yes these five points are just the basic core of a trader that must be exhibiting such norms and values and attributes for better results. Furthermore, I think all these qualities can be found in a person who knows better what is trading and how to do this by learning. Learning can lead you to an extent level where from everyone can lead the world even.

Number one reason is the most dominant problem today, there is a huge amount of cryptocurrency that is not circulating in the country because some of the investors cannot recover their own passwords.

buy and sell based on feelings. I am still doing it and can not stop myself. that is why nowadays I just put my orders and do not check so often. otherwise I am making so stupid mistakes

When the user loses the BTC wallet, he loses BTC forever! The lost bitcoins still exist in the block chain like other bitcoins!

When the available bitcoins become smaller, the remaining bitcoins will have a higher demand, and their value will increase.

Never lose your BTC wallet!

Yes, these are indeed many rookie mistakes. If you forget your password, you will lose your bitcoin forever.

Also, don't put COINS on exchanges when you're not trading, because exchanges are the target of all hackers.

Greed, fear, hope or excitement can be so overcoming in the completely new world of cryptocurrency, whether you are trading, are faced with a security issue, or faced by scammers.

Funny because I never had trouble in those two things? for some users have many wallets may not be a problem but it will make you confused to remembering private key and password, I only have a few wallet and I always write passwords for my accounts that I have on a note, so that does not make me forget and lose access the wallet

11. Invest immediately on unknown ICOs

Yes, that is correct. Making best option when you have to joined in a campiagn better have to step by step process which the first thing to do in time you join also a time to make a wallets, for a reason that you can logon on your spreadsheet or what else you do to remember or easily  be seen the wallets that you used in the campaign in organized or in order.

I would add some more
1 investing loan money
2 refusing a risk management
3 huge percentage expectation
4 awaiting easy money

Here are common mistakes made by Bitcoin users.
# 1 Leaving Funds on the Exchange Platform
# 2 Purchases and Sales Based on Emotions
# 3 Less Research New Services
# 4 Let your money in exchange
# 5 Not Remembering the Password Wallet

I would add that this all things are united by laziness. If I would not be so lazy, I would keep my things more secure indeed!

In my case. I dont have a copy of my back up wallet so. Im in danger now i dont know how can I retrieve my account im struggling now cause my account there are my investment. There are the token that ive been holding. Im so upset. Maybe its just a lesson for me that make a copy always make a copy of everything especially my wallet addresses

I think that mistakes are a normal thing done by beginners. Without those mistakes we will not realize and learn. The most important thing is to use Two Factor Authentication on the web wallet. Most web wallet users only rely on username and password to login. Then when the password is peeped by someone else or there is a keylogger on their computer, suddenly their balance is empty. Their bitcoin has been hacked!

this is very much happening, I have also experienced, and until now I still keep the wallet, but can not access this wallet that I created in May 2014. number 4.Buy and sell based on feelings, you are absolutely right. even till the day ni occasionally I still make this mistake, not always loss, more profit. but still this is very risky.

Seems there are many peoples didn't carefully store their assets some of them did not save their legit electronic password properly in their laptop or wherever possible to save sometimes this is the reason that they easily hack because of carelessness usually this mistakes is done by newcomers in crypto they didn't know that this is really important.

1. Do not enter your account to any possible signing page background check first
2. Do not forget to change your email
3. Remember always your password
4. Be alert and be careful to the scammers
5. Make sure you always logging out your account to prevent uncircumstances

Life is full of mistakes. Some of the things you have mentioned have happened to most people whom I think was not giving too much importance to bitcoin except for some cases where accidentally they lost their private keys. But for some of those who did not value bitcoin in the beginning are those who end up looking for bitcoin private keys because to them bitcoin was just something that doesn't give them ample returns until one day when the value did rise up high they keep looking for it like crazy.

yes, this are the common mistakes newbies encountered when engage in bitcoin. but as the years past by, all this mistakes will be corrected... people change especially if it envolves money. as the years comes by they are much careful about their actions

One of the first things bitcoin users need to know is how to provide password protection for bitcoin wallets. This is a big step in the right direction, because no password means anyone can easily crack your personal wallet.

I think people is not that stupid, i mean of course they are using a difficult password on their wallet. I think the very common mistake is, a newbie easily give their private key into somebody or in website. They are still newbie and don't know private key is really important code and Only you that can know it.

The forth point is mentioned is most important, doing transactions based on feelings. That is the reason of panic sale that causes huge loss.

We can't blame those people who are selling their token based on their feelings, because there are times that we desperately need a money even though the sell price us low.

4. Buy and sell based on feelings

This is by far the biggest one I see. People sell when there is fud and buy when there is fomo, driven by the emotions fear and greed.

Its fine if you are going to back up your wallet because in this way you are going to avoid on losing a huge amount of your capital or holdings that might still grow after a few years.

Buying and selling based on sensibility is a fundamental mistake of all when it comes to investing in electronic money. I think that despite the experience, emotion trading is inevitable

In online you have to be careful because they are undercover. so don't be easy to believe in people you don't know because they may have bad intentions on you. I think that is often done newbie is to sell and buy only rely on their feelings. when they are frightened as prices go down. then feeling they say sell because of depressed. of course they are get lose for doing it

This is also some of the common mistake bitcoin users make. Use their hard earn bitcoin to invest in HYIP programme ,invest in scam ICO, sell due to panic when the market is red.

It is very important to take note on the above common mistakes. They are so important and must not be done or else we will lose justice to our hardwork, thus will lead to frustrations.

This five reason are what many people and investors are doing daily and that is the reason why they are losing money.  Trading is a diligent professions and if you are not ready to spend time to learn about every step of price process you should be ready to be losing money.

Buy and sell based on feelings is always the problem of every new traders in the market, there are a lot of people today who are not earning a huge amount of profit because they are selling their coins at its lowest price when they saw that the market is dumping their coins.

I would add here:
- don't check the fishing-sites
- participate  in the hype-projects, where promised in excess of profits and give their scammers their bitcoins
- DO NOT STUDY AT YOUR OWN FAULTS

There is no such things perfect in the world. Everyone did a mistake. From mistake it can lead to learning. Experience is one of the best teacher in the world.
All you've mentions was true and the other answers. We can avoid mistakes by carefully search and do things to be done.

For me the root cause of all these common mistakes is just one, letting FUDs get into you. It leads to a lot of things that could be considered mistakes in Bitcoin, like being impatient, panic selling, panic buying, losing trust, and a lot more things just because you let those fear, uncertainties and doubts get into you. 

Well not all fall for fuds. Mostly these are inexperienced traders and holders. Greed may very well be a main factor for making mistakes for more experienced traders. Wanting to get more out of a trade than what's necessary can make someone lose instead of making profit

The biggest mistake when buying or selling Bitcoin: trust experts!

The mistake number 1 is the thing that strikes me as strange, you do not remember password? the possible is because the user does not have a lot of bitcoin in his wallet, maybe for points 3 to 5 it is reasonable for beginners and those who have little interest in cryptocurrency.

There is one thing which I believe in and that is no one in this world is perfect and that we all make some mistakes at certain level and that because of which we may suffer a lot as well. However, you can only be successful in your life if you learn some good lessons from the mistakes which you made instead of repeating those mistakes again in your lives. Stay positive and think well before you make any kind of decision.

The only thing that I notice to the crypto investors that they are easily get FOMOd by a particular pump coin and they end up crying about it.

I would add that they became lazy if they didnt see a fruits right after few days passed, so dont know how to wait for an income.

Taking care of your wallet, virtual or no isnone of the most important things to remember when investing. Some of these virtual wallets doesn't have a forget password feature. So if you lose it, you'll have to say goodbye to your holdings. Also, another mistake is PANIC SELLING. Never sell!

Good job by mentioning some of the common mistakes that do by some users.
I do believe that not all of bitcoin users do or done some mistakes coz as far as I know the oriented member of this forum will never experienced that unless got scam or hack without any mistakes.

unfortunately this feature is not available in crypto wallet.much people lost their money because of this.it very helpfull if each developer could make this features available.

I agree with all your sayings. In addition to what they have said, many people have yet to fully understand the bitcoin. and they can not even manage their own money on the real market. it is very normal that they should fail in the crypto market.

I'm related in not remembering my wallet password but luckily the amount inside my wallet is small then I remember when I start in trading I always feel sad every time when I see that my coin is going down I worried because it turns to nothing so sold all my coins but when I check for the next day I regret what I did because if I put more patience I gain a profit but it was a good lesson for me.

it is true, the mistakes often made by bitcoiners it is like this, because they are sometimes less care and less careful, I was also like that, actually we can handle this with us to be more careful with whatever it is.

It is all true that most bitcoin users experience these mistakes. I more likely related in not remembering passwords because i do not to take notes that is why i am commonly forget all of my wallet passwords even my email password. Good thing there is an backup account that will help to retrieve my accounts.

6. participate in some ponzi scheme because they notice that they can earn instantly by investing on it.
7. people entered in crypto world with locked of knowledge about it.
8. panic selling when the market is falling.

Number 1 and number 2 are very big issue, and it's the one that I mostly focus on, and that most casual users should focus on. I mean you can literally store tens of millions of dollars into a wallet that only takes up a couple of kilobytes. And if you lose it...

So you should create a document or even a text file in your computer so you can put all the things there like the username and password and other things that you usually forget so next time you don't need to worry for remembering the password and almost all the stuffs that you need in your online business or life.

I totally agree with this list you made. I think buying bitcoin shouldn't be subjective, buy bitcoin according to the behavior it makes because buying at the wrong time might ruin and might make your wait a little longer than what you expect. I think having a safe wallet will secure everything. If can't then you should split your funds to different wallets so that if one might get hacked then you still have other wallets that is already filled by a portion of your fund.

point number 2, which is most common.
very risky if not have back up data from our wallet.

common mistakes made by Bitcoin users:
1. It has only one BTC address.
2. Not using Fee.
3. Forgot to check the amount of the BALANCE sent and the amount of Fee.
4. Not using Two Factor Authentication on web wallet.
5. Store large amounts of BALES in web wallets and mobile wallets.

You mean exchanging sites where you sell your coins/tokens to another coins/token? That would be a bad idea to leave it on exchanging sites. Better make a list on what to do when we want to exchange particular coin to another coin so we won't forget to transfer our coin to our own wallet for safekeeping.

I agree with you. Most of the people tend to forget their wallet. That is why we should backup our data in somewhere super safe in order to protect our money from hackers and other people.
You can also buy hardware wallet which I think it is safer

Waste time on faucets (we all did
Collect dust and pay high fees on it
Leave coins in an exchange
Trust the wrong people and get
 Panic at a price correction

This is true,  you have to be careful because bitcoin is money.  If you have a lot and you lost it,  you cannot have it back.  If you invested a lot on it, everyone should remember these five things listed above because it is indeed important.   Thanks for the tip and reminders.

If they continue doing it and not learning by the lessons from that scenario, I think they will become such a failure of bitcoin profit seeking opportunity for now. I agree that storing your coins at your ethereum wallets can be safer if you try to do it long terms and avoid storing at trading sites so that you will not be stressed thinking about the growth of your funds.

I also know of this important mistake that people make, and that is leaving your money at an exchange for a long time without any immediate intention of transferring or trading. Your money could be at risk of hack attacks.

Almost all happened to me when im starting except number three. First i forget to copy my private then when i received my reward the problem is i dont have a chance to sell it. And also at the beginning i also dont back up my wallets. And lastly i sold my tokens even at low price i didnt think it will rise after a day.

I think it is a very common and natural mistake because everyone must have a factor that can make forget because there are too many passwords, and not backing up the private key that is given to see the wallet used.

It is a good thing that you have learned from it and you only lost a small amount of bitcoin, unfortunately not everyone is so lucky and there have been cases of people that lost a fortune in bitcoin back in the day and now that the price is so high they have lost tens of millions of dollars just because they did not protected their private key, so make always sure you have a backup just in case.

The most common mistake a bitcoin user can not remember is the password of the account, wrong post and repetitive post, can not remember the password of the wallet, even remember the name of the account and misspelled and wrong.

Leave your money in the exchanger and then the exchanger goes bankrupt. What would you do if that happened?

For now most users are too easy to panic because of getting negative news, this is what makes bitcoin prices continue to be corrected making it difficult to reach $ 10,000, but in general I'm sure that bitcoin prices immediately skyrocket.

The 5 reasons you make are almost just about wallet only but you're right that almost all newbie are not really thinking about the safety of their wallets and not using 2FA in their wallets but that's very important for wallet security, that's the most urgent in your 5 reasons, otherwise it newbie ussualy keeps all the coins in 1 purse only, I think it would be very risky if your wallet is hacked..

I did some of those points when i was still new to bitcoin.
My other mistakes :
1. wasting times on faucet which is not worth the time.
2. leave most of my bitcoin on exchange (glad that i managed to move my bitcoin before the exchange went scam).

5 mistakes that we get involved in bitcoin is that we often forget about the account and loss of account, we often mistakenly keep the account address wallet and prive key code than we or Forgotten between items when joining the post

This is a great help or reminder for those who have not committed mistakes and for those who have already committed such mistakes. Thanks for the great post!

These are common mistakes for novice investors.
But I think it is necessary to put the BTC on the exchange because it can be traded! If you miss your trading time by placing BTC in your wallet, you will lose money because of this!

another mistake
instant buy instanst sell , panic when trading , never research about some web and the end its getting scammed

Having only one BTC address, Not Using Two Factor Authentication on the web wallet is also a common mistake that often done by bitcoin users who look spele while very influential when the security of our wallet is less awake then reiko loss of bitcoin will be great.

I think forgetting about passwords on wallets is really a deadly sin among us cryto currency investors. Next would be buying when the prices are at its peak, or selling when the price is at its lowest. Lastly it is when investing without even studying the coin they are investing on. I hope we learn from our mistakes.

Five common mistakes made by Bitcoin users:

1) Not planning Trades,

2) Not doing Research,

3) Investing more than they can afford to lose,

4) Not spreading position,

5) Over-trading.

This is the common error these days for losing money in the world of crypto currencies. This is at the same time very silly mistake on the part of investors or holders and they cannot blame anyone for this since they have themselves created tough passwords for their accounts and their wallets. When you are dealing with multiple accounts, what my suggestion is having same password for all accounts.

Trading based on feelings is a common mistake many people make!

Especially like to buy some very low price cryptocurrency, this is a common gambling behavior!

With the increase of investment experience, this mistake will be corrected!

And how about one of the beggest reason for loosing money in crypto - trading? Everyone think he is much smarter than 90 percents of day traders

I think its meaning is to put your crypto on the exchange wallet. This is a high risk when the exchange is hacked or collapsed, you will lose all

Actually, most of us must have done these mistakes since we all came as a beginners. Maybe we could start a new topic like what have you learned from your mistakes during your first times  Cheesy I just got concern with number 4? Because what will be your basis when buying and selling your bitcoins if it is not by feeling? It will be your desire and feeling after all because it is yours to decide about it.

Keeping same passwords is also risky in the crypto world if anyone of your password exposed by ohishing link then all of your funds will be stolen so it is better to backup all the passwords while creating or sign up to anysite and keep backup in a pendrive not on your desktop.

I have read some cases like that back in the day and the truth is there is nothing you can do to recover your coins that is why it is important to stay in top of all the news regarding the coins in which you have invested and the exchanges in which you have some money, for example I use the electrum wallet and I updated my wallet as soon as a vulnerability was found some months ago.

Not only that Sir, here's another mistake for Bitcoin user; Proceeding Transaction for Buy or selling of bitcoin with hesitation and not really sure the exact procedure of transaction and also  convincing with other people to make an investment of bitcoin with 2 times double of profit guaranty with out too much learning about the situation of bitcoin price. 

Based on my experience these common mistakes I had done in the past when I was new in the Crypto Currency Market. I had already learned my lessons and I am very careful now with all those possible mistakes. Experience is really a great teacher.

Forgetting you passwords for your wallets is a down right sin. Panic selling is another big mistake in this here markets. Investing on coins you have no idea on is a crappy way to do this. Lastly, holding on to shitcoins and hoping that it will have valuenin the future, really move on.

Honestly I've made mistakes in the past, I do not care about what will happen, what is important is my stomach rescued from the pain of hunger. Now I realize that such an act is not good enough to do, even up to now I am still reminded of the consequences of its loss

These are common mistakes especially if you are newbie and I am one of the victim of these mistakes. I've once forgot my electronic password and never ever recover it again so my altcoins was still there but from that mistake I learned from it so I see to it that I copied my e-wallet password in a notebook to make it as a back up.

Yes i agree with you me too i didnt made any of these mistakes when i was a Newbie.  Y'all need to do is read the guidlines of this forum. Thats is a big help to  the new bie.  In 2.do not back up your wallet.  That is a big mistake if you dont have a back up  of your wallet.

I agree with your opinion, but the biggest problem bitcoin now is the most users never be patient so they immediately sell even if only get $ 1 profit, this is the biggest mistake in the investment so I suggest to hold bitcoin in a long time.

One of the most common mistake because of which most of the investors lose their money is their careless attitude and other than that, lack of knowledge about such things which carry the most significance importance. Other than that, loss of control over your emotions and not going with the flow of the market are also the possible reason because of which most of the investors fail to earn something good.

What is this electronic money floor? Is this exchanges site you are reffering to? Well if you are a bitcoin trader leaving your money in a site is a wise move rather than transferring it everytime you want to trade coins. Most common mistakes are storing your money for a long time in an exchange site.

Yes, but mostly of these are the users who's just a newbie. But if the user is full of dedication and perseverance to be success here, I know that these given characteristics of yours won't matter anymore; they will strive their best to unable to hack and to read more about crypto and share an informative articles.

One mistakes only  make your world worst in crypto is you put your private key wallet address in public. Avoid this happen i'm sure you will regret it. ;D

yes, i appreciate your opinion. and it should always be remembered for the beginners. but I think there are still many things that bitcoin users should do to avoid errors. for example leaving a coin in exchange. Believe in the wrong people. so should be more careful in choosing people. and the most important is to eliminate Panic flavor with the state of the market price.

Store large amounts of BALES in web wallets and mobile wallets. Although the web wallet is very practical to use and mobile wallet is very practical to carry around. Balance of coins in large quantities should not be stored there. Web Wallet can be hacked, can down because maintenance.

In my opinion forgetting your password to your wallet or losing your private key is probably the worst mistake that a bitcoin user can make we all know from before we even make an investment in bitcoin that once you lose access to your wallet or address there is no way to get it back so it is completely unforgivable to make that mistake and you deserve to lose your coins.

Yes, I agree mate. Five common mistakes made by bitcoin user. I also do that.

Having a mistake is always possible unless we have enough experience in the world of crypto. It is quite normal to made mistake specially when we are new on a particular thing. Yet, we need to do our best for us to learn and to develop our skills so that in the future we could take a better decision in life and while investing in bitcoin and other crpytocurreny.

I think the mistake is very common and reasonable if it happens because the new players are not known about this kind of thing, with this hopefully many new players who can be better.

I want to add here save the pass phrase to change the password. Most people trade bitcoin as a short-term investment Most of the time we've seen bitcoin users also do a panic selling mistake

I agree with that common mistakes of a bitcoin user because I also do that kind of mistakes before even now I also made some of mistakes that you said that's why I wanted to removed that mistakes to make me a better user. I'm very careful now on how I will make decisions to agree or disagree for something I want to do to a good way.

Add one more thing which is the major mistake done by new trader,they run for airdrop irrespective of profit,they just want to get it even if it's only small portion,which majority of time lead to loosing their fund by the hand of scammers.

6. Started trading on the exchange with margin without experience

Yes, I agree with these factors. In addition, I think Psychology is unstable and hurried in decisions. Impatience is the case that any trader, users or investor has ever encountered. That is a valuable lesson in business. Most important is never give up hope with bitcoin and crypto. Investing in bitcoin and crypto is synonymous with a long-term plan that you must keep sticking and updating information.

Lol no one is going to do that stupid thing consciously, You know that private key is the most important thing in the wallet, so I'm not sure people will consciously put it in public, I think the stupid thing done by many users is put all the assets in 1 private key (wallet)

Yeah, that its true It happens to me before I forget to back up my wallet, I forget my password and I sell my bitcoin because my emotions controls me but Its a normal thing I've learned from my mistakes and I know what to do now.

All right, I know the meaning from 1-4 sentences, but I don't understand the number 5 sentences.
Honestly, I do a lot mistakes in number 4. Yeah, sometimes, I always trading based on my instinct.

I agree with  this 5 common mistakes specially in the newbie because they are not already know how to deal with it. But things much better you can learn your mistakes and be careful the second time around.

In my own opinion, most of the traders today are just selling and investing based on the hype in the market and those amateurs are selling their coins depending on their emotions which makes them to lose their investments.

and another one, do not be greedy.
get profit in accordance with the capital do not expect huge profits by using small capital.

Five common mistakes made by Bitcoin users:
1. Sending to the wrong crypto-wallet in an exchange
2. Not holding your private keys
3. Failing to find a good community/s to learn from
4. Not keeping hard copies of everything
5. Not using 2fa or saving records of the code

Greediness.
Not saving ones password very well, which has caused many untold pains.
Failure to back up wallets.
Not activating 2fa authentication.
Reluctancy in learning the basics about bitcoin before jumping in to invest.

I can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD. Only someone that is very stupid, my money can’t go like that I’m always careful.

The only mistake I ever made, and that was as a newbie, was not backing up my wallet but I later realized how bad it would be, although nothing bad happened. I don’t buy and sell based on feelings, it does happen sometimes but I have learnt to control myself.

6. buying some hypeshitmlmcoin

Yes it does happen and ive already see a lot of people having this issue . some of them do have lots of btc in their wallet before they lost it and mostly it happen because they dont realize the importance of bitcoin , they think bitcoim is only worth a penny back on its old days and now after they found out the real worth of bitcoin , it is already too late for them to recover thier old wallet because they already forget their password and private keys . too bad for those guys .

Surely, this thread will definitely help newbies in this cryptoworld. But, i think it is good also for them to experience such mistakes for them to realize and learn from their own mistakes.

For tge newcomers here, you should really educate yourselves or else you will not survive. It is good to be dependent on someone who is really an exoert here but try to handle things firsthand and you will learn the most.

A lot of users in cryptocurrency are always failed when they are starting to use the bitcoin. So, I better research and asked first to the veterans in cryptocurrency before I started to click. I better look on how the process even the important things to be kept like back up files because I want to assure that everything I will do is right.

I agree if you are newbie the first thing to do is to read and research about cryptocurrency. And Good thing to ask a person have experience here.

Number 1 and number 2 are very common with those that are not frequently logging into the ir wallet because the more more you login frequently the more you get use to your password. Backing up will help in this kind of problem.

The common mistakes I have realized is people selling out of panic thinking that they might lose totally and market will take much longer time to revive.

I don't agree with point number 4. that feeling can also be very useful when investing in bitcoin. just like gambling, analysis is not enough, it must be accompanied by a good feeling.

right, with a good feeling we will be able to think clearly and not be careless in making decisions. and is expected to have pleasant results. although not the same as gambling, but the luck factor also affects

Sometimes lucky factor is needed when market move opposite with our hope.but dont depend on it or we could suffering big loss in future.when we make some analisys, make sure that our mind was in good condition , so we could take an objective decision.

They panic when there is a dip that they tend to do panic sell due to the fears, uncertainties and doubts. Because of that they will also missed the opportunity to buy more at a lesser price. It would have a domino effect on the actions they will take and the results that they will eventually have.

New bees have more difficulties than those who have spent some time here as it is the first attempt they have in the crypto market and those who have spent time have practical experience of it and have understanding with market situations. So almost all the mistakes are made by new bees and the most common mistake they made is the making of Bitcoin investment as short term by taking immediate actions and sell quickly for small profit.

As I observed the most common mistakes that we committed is trusting a person whom we dont even know yet.Because this is the reason why directly fall to someone which the reason is to make our life worst.

another mistake ,
1.hold too long , and lose the momment to sell
2. being greedy , after get profit , their still keep it and hoping more profit , and ended up with loss
and i do that all , lel

I've done some of them well. for all the mistakes I did was the panic selling at prices that in fact I did not know that bitcoin was much higher than that, if I had to wait for a short time and my mistakes would be now Just think it's my waste of time with the companions. well im searching for other new services you get today, and now I have a wide variety of cryptocoins. and of course I'm earning it.

This mistake always happen. We should back up our wallet because we can recover it when we lose it. We should make not only 1 back up, at least i am made 3 back up in different storage

Mistakes have caused several Bitcoin investors to lose great deal of money which most people regret till date. Another common mistake comes from impatience. This is where investors sell off their Bitcoin at cheap price due to a slight dip in price of Bitcoin. Bitcoin price shoot up later and these investor regret.

When I first started to know bitcoin and cryptocurrency, I forgot my private key. But luckily I just lost a bit of bitcoin in it. It was an experience that newbies should avoid. What makes me so upset is that investing in bitcoin will bring in a lot of income. Making money is not as easy as you think. Be smart in your way of making money.

Please what do you mean in #5 by 'Leave your money in the electronic money floor'. Could you please throw more light on this? But I think the other mistakes you listed are quite real.

Also panic when they see cryptocurrency market in coinmarketcap.com, they sell of them and regret after 1 month, newbie always do that

I think it is common to the user and to the person who has experience on it because we are not too young if we understand bitcoin so it is common sense that we forget to do that.  You can realize your post when you experience a lot on this forum and you can ask yourself on why you do that.

Yup you are right a lot of things are here that we need to keep in our mind, one of them is bitcoin wallet private key, because it gives you confidence that your bitcoin is safe and no one can take it away, the other mistake according to me is selling in panic and not to wait for the market to be green, because they value their own feeling while feeling and emotions has no concern with bitcoin earning.