10 main mistakes of Bitcoin newbies

[iv4n]

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

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

[rikybrosh]

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

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

[bongiu]

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

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

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

[mrcash02]

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

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

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

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

[TastyChillySauce00]

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

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

[wxa7115]

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

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

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

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

[mudboy93]

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

[sunsilk]

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

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

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

[qiman]

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

[Mirror, Mirror, on the Wa]

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

[wxa7115]

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

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

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

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

[batang_bitcoin]

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

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

[ipungadhi]

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

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

[fortunecrypto]

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

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

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

[DOGE12321]

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

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

[maydna]

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

[DoublerHunter]

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

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

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

[Mumbeeptind1963]

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

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

[cleygaux]

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

[maku]

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