10 main mistakes of Bitcoin newbies

[R2-D2R2]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

[NEWGOODOUBLE]

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

Because the newbie is usually very easy in lure with something profitable when the risk is very large.
And newbies never consider the risks so they casually invest in ponzi scam

[erikmatik]

Good article boss, such tips are quite helpful to all newbie bitcoiners out there (count me actually haha). Buying low, holding and selling high is nice advice it is, as rushing is for those impatient enough or unless your a daytrader. Jumping to hypes is good sometimes, if the trend goes up then much better, but being cautious is a good thing also. May we all master the art of bitcoin guys!!!

[wxa7115]

I never had this experience when I was new in the trade and I made the wrong decision in many times. But know I think I learned a lot from my mistakes so I thought I could keep one of my errors.
This is why when you start your trading career is the most important thing to do, is to start with a small amount of money even if you make mistakes, you don't lose too much money and the most important thing is you will learn some of the lessons that will be useful to You in the future. so you no do the same mistakes, give the right decision

That's it, always start small and never go all in. Mistakes will happen when you jump into something new, even if you have been reading threads on forums for months - but at least they will give us a good lesson

Yes, it is completely different to read about something in a book or a thread than to try to do it, you don’t know how you are going to react when the markets moves, I have seen very confident people crumble under pressure and I have seen people that you did not think as strong to become way stronger under pressure.

[Ethan_Locke]

Keeping their bitcoins in an exchange is something that I would not recommend to begin with, along with moving their bitcoin around too much and not realising how much they are being charged for the privilege of doing so.

[Ryan Dugan]

Keeping their bitcoins in an exchange is something that I would not recommend to begin with, along with moving their bitcoin around too much and not realising how much they are being charged for the privilege of doing so.

Leaving your bitcoin is bad because the bitcoin is not under control of you and your wallet but under control by the owner of the exchange you are using so you are relying on the honesty of the owner of the exchange.

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

That is panic selling, let them do it we can buy the bitcoins form them and profit from them.

[mornabo]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

That's what newbie (including me) usually do, they'll be very easy to panic and scared when something happens to bitcoin prices. As prices are going down very sharply and there are sure to be a lot of newbie users who panic and sell all their bitcoins

[BurstIncomeAsset]

Keep bitcoins in exchange.

Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.

Lose the bitcoins when the exchange collapses.

10/10 would lose money again

[qiman]

Even seasoned Bitcoiners can make mistakes all the time. This is an experimental phase for both Bitcoin and Altcoins and we are learning new things every day. I still make mistakes even though I am in this business now for nearly two years but only very part time at present due to time constraints.

[romero121]

Keep bitcoins in exchange.

Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.

Lose the bitcoins when the exchange collapses.

10/10 would lose money again

Very few newbies encounter such a issue. The reason is that a small number of newbies take part into trading at the early days of being into bitcoin. Most of the users get trapped into the scam where people attract newbies with big multiplication schemes. Another thing is trying to be rich through gambling and losing big.

[FrozenByte]

Thanks for the article! I'll definitely be using this in the future.

[BurstIncomeAsset]

Keep bitcoins in exchange.

Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.

Lose the bitcoins when the exchange collapses.

10/10 would lose money again

Very few newbies encounter such a issue. The reason is that a small number of newbies take part into trading at the early days of being into bitcoin. Most of the users get trapped into the scam where people attract newbies with big multiplication schemes. Another thing is trying to be rich through gambling and losing big.

They don't trade, just use the exchanges as wallet

[sieemma]

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

Because the newbie is usually very easy in lure with something profitable when the risk is very large.
And newbies never consider the risks so they casually invest in ponzi scam

Yes and as rule for myself, I will never join any hyip, doubler, ponzis and matrix program no matter how well they brand themselves and no matter the good things people say about them.

[aldrian09]

I never had this experience when I was new in the trade and I made the wrong decision in many times. But know I think I learned a lot from my mistakes so I thought I could keep one of my errors.
This is why when you start your trading career is the most important thing to do, is to start with a small amount of money even if you make mistakes, you don't lose too much money and the most important thing is you will learn some of the lessons that will be useful to You in the future. so you no do the same mistakes, give the right decision

That's it, always start small and never go all in. Mistakes will happen when you jump into something new, even if you have been reading threads on forums for months - but at least they will give us a good lesson

experience will be the best teacher most of the time , this mistakes happens with newcomers has been experience too by those who claimed to be a pro users of this bitcoin investment, many of us also did try ponzi , hyip and some other platform that attract us to joined using bitcoin but after that and if failure happens we will start to grow up and understand the risk and avoid mistake again.

Agree! If you do not experience all of those things then maybe you will not look for another ways to get back all the losses you had. As for me I am one lucky person to have a great friend who's been guiding me in my journey with bitcoin he told me not to invest with ponzi and hyip scheme because it will only take my money in the end.

[NEWGOODOUBLE]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

Open just the price down newbie will panic. They will also panic selling when prices rise. I think not just newbie but other users like me. Impatient is the most influential thing why they can panic and sell their bitcoin

[ipungadhi]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

It's because they are impatient. Newbie is always reckless in making decisions, for example when prices change quickly they will think to sell their bitcoin in the wrong position just because they panic and scare?

[basyang]

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

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

    As a newbie. it will help me a lot. Especially on how I will keep my bitcoin earned in the signature campaign. And also it give me knowledge in bitcoin, Honestly until now I am not totally familiar in bitcoin even though I know a few information about it, I actually want to learn or understand how to invest, sell or trade using bitcoin. So I am looking forward to learn more in this article.

   But sometimes its not bad to have mistakes because you can learn from it, so next time you elude to happen it again.

[nethan1btc]

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

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

    As a newbie. it will help me a lot. Especially on how I will keep my bitcoin earned in the signature campaign. And also it give me knowledge in bitcoin, Honestly until now I am not totally familiar in bitcoin even though I know a few information about it, I actually want to learn or understand how to invest, sell or trade using bitcoin. So I am looking forward to learn more in this article.

   But sometimes its not bad to have mistakes because you can learn from it, so next time you elude to happen it again.

In that case of learnings from your mistakes, let me say about the scenario of a work you are involve with like a job that's worth a million dollar fiat, and you needed to obtain safe work to avoid failure of quality but suddenly you did worst failure then made the work unsuccessful. So to make a clear understanding of that $1m dollar failure is very expensive if we take it as a lesson from a mistakes. Actually when a newbie hits the wrong decisions of investing huge amout at mining ponzis,  I think that the same mistakes comitted like the scenario of $1m dollar failure which is costly.

[wxa7115]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

It's because they are impatient. Newbie is always reckless in making decisions, for example when prices change quickly they will think to sell their bitcoin in the wrong position just because they panic and scare?

I do not think it is because they are impatient, I think it is because they do not believe in bitcoin, I will never sell my bitcoins for a bad price, I will hold until things go back to normality and even then I will not sell because I’m waiting the day bitcoin is worth a lot of money.

[totaleclipseofthebank]

Mistake : simple those who are not patient and just sell of their btc when they think its crashing

This is the biggest mistake and time will teach them how to hold bitcoin and being rich with bitcoin. I think the second biggest mistake is that they do not very care about the private key. Private key is very important to bitcoin holder