Five common mistakes made by Bitcoin users

[Qartersa]

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

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.

[playboy654]

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

all are important, but first two are very important, and it is hard to believe that people are buying crypto, but not thinking regarding these two...
it is because people are relayed on banks and institutions to remember data for them

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.

[Monnt]

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

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 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.

[webdevmastery]

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

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.

[Geleve]

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

[ganlianshifu1]

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!

[zhuiyongliang8]

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

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.

[klasik1980]

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.

[mornabo]

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

all are important, but first two are very important, and it is hard to believe that people are buying crypto, but not thinking regarding these two...
it is because people are relayed on banks and institutions to remember data for them

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

[snapee11]

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

all are important, but first two are very important, and it is hard to believe that people are buying crypto, but not thinking regarding these two...
it is because people are relayed on banks and institutions to remember data for them

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

[Bitcoinjheta]

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

all are important, but first two are very important, and it is hard to believe that people are buying crypto, but not thinking regarding these two...
it is because people are relayed on banks and institutions to remember data for them

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

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.

[omfg.xekcep]

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

[Brangos99]

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

[Panpan66L]

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!

[cherrymobile]

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

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

[dubinsky]

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!

[boled]

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.

[Lesterus]

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.

[jayar_cabaltera17]

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

[Ondongeric18]

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.