Five common mistakes made by Bitcoin users

[ShadowBits]

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 only thing that I notice to the crypto investors that they are easily get FOMOd by a particular pump coin and they end up crying about it.

[kidamazo]

I would add that they became lazy if they didnt see a fruits right after few days passed, so dont know how to wait for an income.

[squog]

Taking care of your wallet, virtual or no isnone of the most important things to remember when investing. Some of these virtual wallets doesn't have a forget password feature. So if you lose it, you'll have to say goodbye to your holdings. Also, another mistake is PANIC SELLING. Never sell!

[greenpath]

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

Good job by mentioning some of the common mistakes that do by some users.
I do believe that not all of bitcoin users do or done some mistakes coz as far as I know the oriented member of this forum will never experienced that unless got scam or hack without any mistakes.

[arin_muah]

Taking care of your wallet, virtual or no isnone of the most important things to remember when investing. Some of these virtual wallets doesn't have a forget password feature. So if you lose it, you'll have to say goodbye to your holdings. Also, another mistake is PANIC SELLING. Never sell!

unfortunately this feature is not available in crypto wallet.much people lost their money because of this.it very helpfull if each developer could make this features available.

[trako]

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

I agree with all your sayings. In addition to what they have said, many people have yet to fully understand the bitcoin. and they can not even manage their own money on the real market. it is very normal that they should fail in the crypto market.

[Nyenyepogi]

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

I'm related in not remembering my wallet password but luckily the amount inside my wallet is small then I remember when I start in trading I always feel sad every time when I see that my coin is going down I worried because it turns to nothing so sold all my coins but when I check for the next day I regret what I did because if I put more patience I gain a profit but it was a good lesson for me.

[MonaLeeTracy]

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

it is true, the mistakes often made by bitcoiners it is like this, because they are sometimes less care and less careful, I was also like that, actually we can handle this with us to be more careful with whatever it is.

[agentx44]

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

It is all true that most bitcoin users experience these mistakes. I more likely related in not remembering passwords because i do not to take notes that is why i am commonly forget all of my wallet passwords even my email password. Good thing there is an backup account that will help to retrieve my accounts.

[mokong11]

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

6. participate in some ponzi scheme because they notice that they can earn instantly by investing on it.
7. people entered in crypto world with locked of knowledge about it.
8. panic selling when the market is falling.

[Lightsource]

Number 1 and number 2 are very big issue, and it's the one that I mostly focus on, and that most casual users should focus on. I mean you can literally store tens of millions of dollars into a wallet that only takes up a couple of kilobytes. And if you lose it...

[Sled]

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

It is all true that most bitcoin users experience these mistakes. I more likely related in not remembering passwords because i do not to take notes that is why i am commonly forget all of my wallet passwords even my email password. Good thing there is an backup account that will help to retrieve my accounts.

So you should create a document or even a text file in your computer so you can put all the things there like the username and password and other things that you usually forget so next time you don't need to worry for remembering the password and almost all the stuffs that you need in your online business or life.

[Yatsan]

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

I totally agree with this list you made. I think buying bitcoin shouldn't be subjective, buy bitcoin according to the behavior it makes because buying at the wrong time might ruin and might make your wait a little longer than what you expect. I think having a safe wallet will secure everything. If can't then you should split your funds to different wallets so that if one might get hacked then you still have other wallets that is already filled by a portion of your fund.

[maculeth]

point number 2, which is most common.
very risky if not have back up data from our wallet.

[As roma]

I would add that they became lazy if they didnt see a fruits right after few days passed, so dont know how to wait for an income.

common mistakes made by Bitcoin users:
1. It has only one BTC address.
2. Not using Fee.
3. Forgot to check the amount of the BALANCE sent and the amount of Fee.
4. Not using Two Factor Authentication on web wallet.
5. Store large amounts of BALES in web wallets and mobile wallets.

[petyang12]

#1 leave your money on an exchanger

You mean exchanging sites where you sell your coins/tokens to another coins/token? That would be a bad idea to leave it on exchanging sites. Better make a list on what to do when we want to exchange particular coin to another coin so we won't forget to transfer our coin to our own wallet for safekeeping.

[ged00u]

point number 2, which is most common.
very risky if not have back up data from our wallet.

I agree with you. Most of the people tend to forget their wallet. That is why we should backup our data in somewhere super safe in order to protect our money from hackers and other people.
You can also buy hardware wallet which I think it is safer

[Ibrahim 2020]

Waste time on faucets (we all did
Collect dust and pay high fees on it
Leave coins in an exchange
Trust the wrong people and get
 Panic at a price correction

[cyberkuto]

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

This is true,  you have to be careful because bitcoin is money.  If you have a lot and you lost it,  you cannot have it back.  If you invested a lot on it, everyone should remember these five things listed above because it is indeed important.   Thanks for the tip and reminders.

[Stephen1989]

If they continue doing it and not learning by the lessons from that scenario, I think they will become such a failure of bitcoin profit seeking opportunity for now. I agree that storing your coins at your ethereum wallets can be safer if you try to do it long terms and avoid storing at trading sites so that you will not be stressed thinking about the growth of your funds.