MOST COMMON MISTAKES OF A NEWBIE

[tigershark]

I think that not protecting private keys is an easy mistake for us newbies to make.  We need to protect them from hacks but also not lose them.

[RJX]

Do not buy into a pump.

If you see a coin skyrocket in a short time that means it is subject to people playing the pump n dump game. These happen all the time and sometimes by sheer luck, other times from due dilligence you will learn to recognize these pumps and keep from getting burned.

more on pnd here:http://www.investopedia.com/ask/answers/05/061205.asp

Also use double security on your accounts on exchanges, 2FA, this will reduce the risk of your account getting hacked considerably. Make it a rule and not an exception.

Do not listen to anybody telling which coins to buy, do your own homework and leave your competition behind in silence.

Never believe in a coin. Whatever intricate story you're presented with, it's pretty much all hoobla and although sometimes well meant, it really never delivers.

Bitcoin is real, the rest not so much but that doesn't mean you can't make a couple of bucks here and there.

[BTcoint]

Do not buy into a pump.

If you see a coin skyrocket in a short time that means it is subject to people playing the pump n dump game. These happen all the time and sometimes by sheer luck, other times from due dilligence you will learn to recognize these pumps and keep from getting burned.

more on pnd here:http://www.investopedia.com/ask/answers/05/061205.asp

Also use double security on your accounts on exchanges, 2FA, this will reduce the risk of your account getting hacked considerably. Make it a rule and not an exception.

Do not listen to anybody telling which coins to buy, do your own homework and leave your competition behind in silence.

Never believe in a coin. Whatever intricate story you're presented with, it's pretty much all hoobla and although sometimes well meant, it really never delivers.

Bitcoin is real, the rest not so much but that doesn't mean you can make a couple of bucks here and there.

Best post i ever red in bitcointalk thanks for these valuable advices the points included in your advice show that are coming from a real long experience thanks for sharing

[RJX]

Best post i ever red in bitcointalk thanks for these valuable advices the points included in your advice show that are coming from a real long experience thanks for sharing

You're welcome. Best way to learn is to try it out for yourself, maybe you burn some fingers but they'll grow back. And you won't forget it.

[isildur1]

The most common mistake of a newbie is they think bitcoin is fast way to earn money/profit without real effort.
They tend to try faucet, giveaway, signature campaign, ponzi, HYIP, gambling, altcoin trading, trading, mining, cloud mining or access deepnet.

this was everything i was planning to do lol, guessing it will take time just like everything.

[autumnraynefyr]

Faucets are alot of work for little pay, unless you happen to find one of those rotators that only lists "high-paying" faucets, but even then you are only getting fractions of pennies and it could take days or even weeks to even get more than 100k satoshi. Sometimes paid tasks offer better payouts, but newbies might make the mistake of sending the work before the payment is received or at least some form of verification of payment, like with mTurk (Amazon's Paid Task site) where they tell you how much the job is worth, and what must be done to receive payment. Not everyone is as trustworthy and might not send payment after receiving the work.. But che sera, I guess.. 

[dinda22]

Ahoy there 
Im a beginner with electronic currencies and started using Yobit few days ago
I would like to know what types of common mistakes newbies make and what to avoid in early days

Regards

whether you are using yobit to make a trade? maybe it was a mistake a newbie, because you have to learn about the trade, otherwise you can lose a lot.

when joining this forum, they want to get bitcoin hurry to join the signature campaign, this is clearly wrong, because they do not know about the rules and make a posting spam causing banned.

[Leonard2016]

the worst mistake that i have made with bitcoin as a newbie was investing in those [Suspicious link removed] scams and losing my coins

[Julahid]

Worst mistake newbies make is to pull money out of their own wallet and then invest it to obvious ponzi scams especially those HYIP. People should be aware that those does not pay, and if they do, they will close eventually when they get the amount of btc they are targeting.

[Quartx]

Trying to mine coins in this current era. ONly the big boys will earn profits with their already cash cow farms.

Newbies just get burned and probably wont roi unless you spent like a million bucks are try to roi before the halfing, probably will not roi still

[wildan88]

mistakes are often made newbie when it comes to this forum is to create a thread, then they go away and never come back.

they are too lazy to read, even though all the threads about how to get bitcoin in this forum very much.

My experience as a newbie, I am interested in the investment HYIP because could double bitcoin in a short time, but this is the worst investment of all time. I hope newbie never joined the investment HYIP.

[LFC_Bitcoin]

Most common mistakes of a newbie -

- Trusting untrustworthy members & getting scammed
- Gambling all their bitcoin's way
- Keeping too many coins on exchanges
- Keeping bitcoin's on a shitty old PC that isn't clean
- Clicking on bogus links here stupidly

I'm sure there are loads but above are some that came to my mind quickly.

[tampazeus]

I have a strong feeling that newbie will try to multiply his coins in a quick way and he will find a short cut to achieve that by going for gambling, and turn up loosing at initial stage.

[RealBitcoin]

Ahoy there 
Im a beginner with electronic currencies and started using Yobit few days ago
I would like to know what types of common mistakes newbies make and what to avoid in early days

Regards

1) Scams
2) Forgotten passwords
3) Clicking on malware ads, and getting infected pc
4) Losing bitcoin walle


etc... Just be careful and disciplined when using bitcoin

[romero121]

I have a strong feeling that newbie will try to multiply his coins in a quick way and he will find a short cut to achieve that by going for gambling, and turn up loosing at initial stage.

True most newbies do it and loss all their hardly earned bitcoin. I too did the same when I made the first entry. Also initially newbies believe in a short term they will become rich as they were part of growing technology.

[bitcoinboy12]

I have a strong feeling that newbie will try to multiply his coins in a quick way and he will find a short cut to achieve that by going for gambling, and turn up loosing at initial stage.

True most newbies do it and loss all their hardly earned bitcoin. I too did the same when I made the first entry. Also initially newbies believe in a short term they will become rich as they were part of growing technology.

Haha. Pretty much the same here. The mindset of becoming rich. Well i had that for a while only to realize that it's not actually realistic.

[delliaerd]

Especially from this forum the most common mistakes when i still newbie is I usually make a wrong with my post, i too often post in my local sub forum. It can make reputation from my account is not good.

[mrhelpful]

Just a added tip, depending on what you use for storing your btc.

If you are running the desktop software remember to at least run your wallet 1 time per week.

Or you will be waiting and wondering why it hasnt loaded after 1 week. You`ll think its stuck, but its simply loading all the blocks like it should.

Also work on knowing how back up your dat.file for restoring your balance.

[NeilLostBitCoin]

Trusting easily on ponzi schemes, like investments and doubler. Dont ever trust them because it can make you quit on using bitcoin.

[BitMaxz]

Trusting easily on ponzi schemes, like investments and doubler. Dont ever trust them because it can make you quit on using bitcoin.

Yeah that's true before i came here in our forum i was newbie and i am faucet claimer too i save more than 0.04 btc in faucet for bout 3 months and i invested it from a site called coinsera i invested all 0.04 onetime make a profit.. the support is very active and he can reply fast.. but after 1 week that i just want to try to withdraw all my profit my withdrawal process  are stuck and i just contact the support never answered my question.. i was searching to any forum and website how can get back my bitcoins in coinsera.. but nothings happen so im stop few weeks to claim bitcoin in faucet..
And stop collecting bitcoin in few weeks i realize that its a natural that you will lose in online and many scammers and ponzi scheams online that we should dont trust any body.. now i was looking for high paying faucet that i can more bitcoins easily and i found microearnings as a source where can see all new faucets.. but i really found a good one signature campaign thats why i stop claming in faucets and i learn that all investment site are scams.