Five common mistakes made by Bitcoin users

[kwabeedat]

I also know of this important mistake that people make, and that is leaving your money at an exchange for a long time without any immediate intention of transferring or trading. Your money could be at risk of hack attacks.

[bakekang]

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

Almost all happened to me when im starting except number three. First i forget to copy my private then when i received my reward the problem is i dont have a chance to sell it. And also at the beginning i also dont back up my wallets. And lastly i sold my tokens even at low price i didnt think it will rise after a day.

[mia khalifa]

I think it is a very common and natural mistake because everyone must have a factor that can make forget because there are too many passwords, and not backing up the private key that is given to see the wallet used.

[andrei56]

When I first started to know bitcoin and cryptocurrency, I forgot my private key. But luckily I just lost a bit of bitcoin in it. It was an experience that newbies should avoid. What makes me so upset is that investing in bitcoin will bring in a lot of income. Making money is not as easy as you think. Be smart in your way of making money.

It is a good thing that you have learned from it and you only lost a small amount of bitcoin, unfortunately not everyone is so lucky and there have been cases of people that lost a fortune in bitcoin back in the day and now that the price is so high they have lost tens of millions of dollars just because they did not protected their private key, so make always sure you have a backup just in case.

[victoryana]

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 most common mistake a bitcoin user can not remember is the password of the account, wrong post and repetitive post, can not remember the password of the wallet, even remember the name of the account and misspelled and wrong.

[15putriutami]

You missed the most important:

#1 leave your money on an exchanger

Leave your money in the exchanger and then the exchanger goes bankrupt. What would you do if that happened?

[Ngewex Yuk]

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

For now most users are too easy to panic because of getting negative news, this is what makes bitcoin prices continue to be corrected making it difficult to reach $ 10,000, but in general I'm sure that bitcoin prices immediately skyrocket.

[BeGoods]

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.

The 5 reasons you make are almost just about wallet only but you're right that almost all newbie are not really thinking about the safety of their wallets and not using 2FA in their wallets but that's very important for wallet security, that's the most urgent in your 5 reasons, otherwise it newbie ussualy keeps all the coins in 1 purse only, I think it would be very risky if your wallet is hacked..

[chipzeru]

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 did some of those points when i was still new to bitcoin.
My other mistakes :
1. wasting times on faucet which is not worth the time.
2. leave most of my bitcoin on exchange (glad that i managed to move my bitcoin before the exchange went scam).

[lehuong]

5 mistakes that we get involved in bitcoin is that we often forget about the account and loss of account, we often mistakenly keep the account address wallet and prive key code than we or Forgotten between items when joining the post

[lokanot0]

This is a great help or reminder for those who have not committed mistakes and for those who have already committed such mistakes. Thanks for the great post!

[stimliall]

These are common mistakes for novice investors.
But I think it is necessary to put the BTC on the exchange because it can be traded! If you miss your trading time by placing BTC in your wallet, you will lose money because of this!

[MakLampir]

another mistake
instant buy instanst sell , panic when trading , never research about some web and the end its getting scammed

[KorakPawon]

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

Having only one BTC address, Not Using Two Factor Authentication on the web wallet is also a common mistake that often done by bitcoin users who look spele while very influential when the security of our wallet is less awake then reiko loss of bitcoin will be great.

[spongegar]

I think forgetting about passwords on wallets is really a deadly sin among us cryto currency investors. Next would be buying when the prices are at its peak, or selling when the price is at its lowest. Lastly it is when investing without even studying the coin they are investing on. I hope we learn from our mistakes.

[sakib12121012]

Five common mistakes made by Bitcoin users:

1) Not planning Trades,

2) Not doing Research,

3) Investing more than they can afford to lose,

4) Not spreading position,

5) Over-trading.

[doomloop]

I think it is a very common and natural mistake because everyone must have a factor that can make forget because there are too many passwords, and not backing up the private key that is given to see the wallet used.

This is the common error these days for losing money in the world of crypto currencies. This is at the same time very silly mistake on the part of investors or holders and they cannot blame anyone for this since they have themselves created tough passwords for their accounts and their wallets. When you are dealing with multiple accounts, what my suggestion is having same password for all accounts.

[yesuidanggan]

Trading based on feelings is a common mistake many people make!

Especially like to buy some very low price cryptocurrency, this is a common gambling behavior!

With the increase of investment experience, this mistake will be corrected!

[Coinnosaurus]

And how about one of the beggest reason for loosing money in crypto - trading? Everyone think he is much smarter than 90 percents of day traders

[tuansemazi]

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 don`t understand 5."leave your money in the electornic money floor."What is the meaning of this?
Lucky for me ,i didn`t made any of these mistakes when i was a newbie.
By the way,i don`t think that 4."Buy and sell based on feelings" is always a mistake.Sometimes the right
decisions are made based on feelings.My decision to join to bitcoin community and get some bitcoins was based on feelings,not research.

I think its meaning is to put your crypto on the exchange wallet. This is a high risk when the exchange is hacked or collapsed, you will lose all