MOST COMMON MISTAKES OF A NEWBIE

[ppjeh]

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

Everyone that starts a new work has big dreams, ambitions, and excitement. But you should learn enough before you start working.

[bikjhi]

You have to face it just like me. Everyone was a newbie once when the foray into bitcoin forum  began and no doubt there will be hundreds more to come, but I have written these fine words in the hope that you, dear newbie, can get a quick grasp.

[Mike Mayor]

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

Watch out for "investments" and hyips.  Also dont gamble too much actually maybe stay away all together.  Save your coin and swap it for other coins then horde them all.

[Cyaren]

I think the most common mistake of a newbie are:

1. Getting scammed
2. Using faucets
3. Not buying BTC when it's low.
4. Investing in ponzis.

You gotta understand how bitcoin works as a newbie. Don't go for the quick profits, and go to the dodgy ponzi schemes. Nor should you sacrifice your time for tiny rewards on faucets.

[Mvaporis1961]

I think the most common mistake of a newbie are:

1. Getting scammed
2. Using faucets
3. Not buying BTC when it's low.
4. Investing in ponzis.

You gotta understand how bitcoin works as a newbie. Don't go for the quick profits, and go to the dodgy ponzi schemes. Nor should you sacrifice your time for tiny rewards on faucets.

Yeah to be honest i also do that things when i was a newbie and now i realize that's one of my stupid decision. But now i learned the lesson and i'm now using my bitcoin in a smarter way than before.

[Sled]

One of the mistakes of the newbie is gambling their satoshi that they get from faucets and complaining for their loss.

[Semidetached]

Often new people will fall victim to pretty looking scams like most of the cloud mining website ponzis and even "games" where you deposit and wait and magically you have more money than you did before. And then it's gone.

[laura77]

I think the most common mistake of a newbie are:

1. Getting scammed
2. Using faucets
3. Not buying BTC when it's low.
4. Investing in ponzis.

You gotta understand how bitcoin works as a newbie. Don't go for the quick profits, and go to the dodgy ponzi schemes. Nor should you sacrifice your time for tiny rewards on faucets.

1. I do not get scammed anything, because I do not make investments
2. use the faucet for newbie I thought its not wrong and still worth
3. I do not buy BTC when low, because I did not have the money to buy
4. I have read that site ponzi investment is very dangerous, so I stay away from it

[zerocharisma]

One of the mistakes of the newbie is gambling their satoshi that they get from faucets and complaining for their loss.

I think it's the most rarer mistakes of newbies. Don't get me wrong here, we're all ones a newbies here and tend to treasure our Satoshi that we got from faucets. Those who gamble their sats earned from faucets are greedy ones (except if the faucet is on gambling site). Those big rollers and new from bitcoin will only buy Btc to gamble, they don't want to earn it on time wasting faucet.

[tabas]

Often new people will fall victim to pretty looking scams like most of the cloud mining website ponzis and even "games" where you deposit and wait and magically you have more money than you did before. And then it's gone.

Yes it is the most common mistake of a newbie, since they are lack of knowledge regarding those scam sites.
They tend to think that investing in ponzi is a way of earning bitcoin. But in the end when they are already get to be a victim of it.
That's only the time for them to learn.

[TKS86]

Hello i am new to this forum and this will be my first post. I am started to use bitcoin few months ago and from my experience this is biggest mistakes that you can make if you newbie (some of them i made it myself):
1. Dice gambling
When you start using cryptocurrency you start search more information about it and in youtube you can find a lots of tutorials how to make lots of satoshi from gambling. Most of these tutorials are in russian but if you understand this language you may find wish to try these strategies yourself. My advice - dont do it. 99% of these strategies dosent work. In this game house always wins. I think in these gambling sites there are 1-5% experienced players who know what they are doing and they making profit of it. Dont be naive and dont think that you will be one of them
2.,,Cloud mining,, and other shady investments
From this forum i learned one important thing: If it's too good to be true, then it probably is. There are lots sites who offers you big gains from investments but just think about it x2 x3 gain in two days? 10GHs or 5 Terrasomething for free? If they are so great investors why they need your money. Maybe i am just greedy but if i knew a way to double my money in 48 hours i am sure i dont tell it to anyone Lets look in these ,,cloud services,, mining needs hardware, energy and maintenance and these things cost but these guys giving all of these things for free? I am just dont believe in miracales
3. Investing in shitcoins
I know there are people who make money from such investments, but people who make it have a lot experience and probably lots of money. At first you should make a lot of research and try trading with more ,,stable,, currencies like lisk eth and others. If you have lots of doge you can make even profit of that (of course not big) but avoid shady coins. This site is great place to start research about them.

[jossiel]

Hello i am new to this forum and this will be my first post. I am started to use bitcoin few months ago and from my experience this is biggest mistakes that you can make if you newbie (some of them i made it myself):
1. Dice gambling
When you start using cryptocurrency you start search more information about it and in youtube you can find a lots of tutorials how to make lots of satoshi from gambling. Most of these tutorials are in russian but if you understand this language you may find wish to try these strategies yourself. My advice - dont do it. 99% of these strategies dosent work. In this game house always wins. I think in these gambling sites there are 1-5% experienced players who know what they are doing and they making profit of it. Dont be naive and dont think that you will be one of them
2.,,Cloud mining,, and other shady investments
From this forum i learned one important thing: If it's too good to be true, then it probably is. There are lots sites who offers you big gains from investments but just think about it x2 x3 gain in two days? 10GHs or 5 Terrasomething for free? If they are so great investors why they need your money. Maybe i am just greedy but if i knew a way to double my money in 48 hours i am sure i dont tell it to anyone Lets look in these ,,cloud services,, mining needs hardware, energy and maintenance and these things cost but these guys giving all of these things for free? I am just dont believe in miracales
3. Investing in shitcoins
I know there are people who make money from such investments, but people who make it have a lot experience and probably lots of money. At first you should make a lot of research and try trading with more ,,stable,, currencies like lisk eth and others. If you have lots of doge you can make even profit of that (of course not big) but avoid shady coins. This site is great place to start research about them.

First welcome to the forum. And I hope you have learned your lesson from your mistakes, dice gambling is really one of the addictive gambling games because it is easy and fast to earn and lose once you play it. And with cloud mining it is really an hyip kind of investment that just scams people. And for trading, you must study more and invest in the coins where it has the potential to pump.

[hermanhs09]

One of the mistakes of the newbie is gambling their satoshi that they get from faucets and complaining for their loss.

Definitely true. One of the biggest mistakes I've done as a newbie is probably gambling what I could not afford to lose, and then blaming it on the house for not being provably fair.

But over the years I've learned that gambling is your personal choice.

[blocks.explorer]

I think the biggest mistake is not doing due diligence in researching the (shit)coin before investing in it - whether its ICO or in exchanges or mining it. Not all coin projects that have very nicely worded announcements, good looking websites and lots of promises are not to be trusted straight away without knowing the background.

[jossiel]

I think the biggest mistake is not doing due diligence in researching the (shit)coin before investing in it - whether its ICO or in exchanges or mining it. Not all coin projects that have very nicely worded announcements, good looking websites and lots of promises are not to be trusted straight away without knowing the background.

This is one of my mistake also when I'm still a newbie, I though all coins are good and bitcoin is there biggest coin of them all.
But as the time goes buy, most of the coins that doesn't have good support and dev team.
In the end, they were just flew away and dump by their investors.

[Fatanut]

I think the biggest mistake is not doing due diligence in researching the (shit)coin before investing in it - whether its ICO or in exchanges or mining it. Not all coin projects that have very nicely worded announcements, good looking websites and lots of promises are not to be trusted straight away without knowing the background.

Some alt coin traders don't consider having a research first before they buy a coin. If they think the chart of the coin is promising, they will just buy it. They look for profit, they don't care about the devs and the use of the coin. Although those coins that are turning into a dump coin are mostly coins that have really low buy price. Coins that are being sold in a high price aren't likely to become a dump coin.

[notlist3d]

I think the biggest mistake is not doing due diligence in researching the (shit)coin before investing in it - whether its ICO or in exchanges or mining it. Not all coin projects that have very nicely worded announcements, good looking websites and lots of promises are not to be trusted straight away without knowing the background.

Some alt coin traders don't consider having a research first before they buy a coin. If they think the chart of the coin is promising, they will just buy it. They look for profit, they don't care about the devs and the use of the coin. Although those coins that are turning into a dump coin are mostly coins that have really low buy price. Coins that are being sold in a high price aren't likely to become a dump coin.

Also it depends if where you go for research.  Keep in mind if you go to certain threads that are pro (certain altcoin) like official threads in a lot of cases it will look really good and lot's of great comments.  So be careful on what you consider good research just to much pump/dump. 

Sadly a LOT of altcoin's are not worth the investment in my eye's.  I would rather have the BTC and ride the value going up  (hopefully even more).  Other coin right now gaining lot's is Ether it has many fan's.   But keep in mind when you invest you might be losing gains you would have had in fiat value just by holding.  So sometimes just holding BTC itself is honestly a good idea.

[DoublerHunter]

The most common mistake done by a newbie is they start using their  bitcoin on gambling as they want to multiply their coins in a short time and gradually end up loosing everything, so it is recommended to stay away from gambling.

Yeah i also try doing that but i realize that it's a stupid move. So now i'm just focusing in this forum to earn bitcoin and learn many things.

[hermanhs09]

Well, I think the most common SINGLE mistake of a newbie is probably gambling what they cannot afford to lose. I remember in those days when I used to believe that martingale works.

Man, that was crazy as I think back now

[DoublerHunter]

Well, I think the most common SINGLE mistake of a newbie is probably gambling what they cannot afford to lose. I remember in those days when I used to believe that martingale works.

Man, that was crazy as I think back now

Yeah gambling is the most common mistakes of a newbie because they only think that they will always win on gambling sites and also think that there is a fast money lol.