Five common mistakes made by Bitcoin users

[Polkadott]

I want to add here save the pass phrase to change the password. Most people trade bitcoin as a short-term investment Most of the time we've seen bitcoin users also do a panic selling mistake

[darefreads]

I agree with that common mistakes of a bitcoin user because I also do that kind of mistakes before even now I also made some of mistakes that you said that's why I wanted to removed that mistakes to make me a better user. I'm very careful now on how I will make decisions to agree or disagree for something I want to do to a good way.

[@prashant]

Add one more thing which is the major mistake done by new trader,they run for airdrop irrespective of profit,they just want to get it even if it's only small portion,which majority of time lead to loosing their fund by the hand of scammers.

[CryptoGirl.y]

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. Started trading on the exchange with margin without experience

[TraiKH]

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, I agree with these factors. In addition, I think Psychology is unstable and hurried in decisions. Impatience is the case that any trader, users or investor has ever encountered. That is a valuable lesson in business. Most important is never give up hope with bitcoin and crypto. Investing in bitcoin and crypto is synonymous with a long-term plan that you must keep sticking and updating information.

[mornabo]

One mistakes only  make your world worst in crypto is you put your private key wallet address in public. Avoid this happen i'm sure you will regret it.

Lol no one is going to do that stupid thing consciously, You know that private key is the most important thing in the wallet, so I'm not sure people will consciously put it in public, I think the stupid thing done by many users is put all the assets in 1 private key (wallet)

[Glorypaasa]

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

Yeah, that its true It happens to me before I forget to back up my wallet, I forget my password and I sell my bitcoin because my emotions controls me but Its a normal thing I've learned from my mistakes and I know what to do now.

[RDNX]

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 right, I know the meaning from 1-4 sentences, but I don't understand the number 5 sentences.
Honestly, I do a lot mistakes in number 4. Yeah, sometimes, I always trading based on my instinct.

[Ekimzjames20]

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

As I observed the most common mistakes that we committed is trusting a person whom we dont even know yet.

I agree with  this 5 common mistakes specially in the newbie because they are not already know how to deal with it. But things much better you can learn your mistakes and be careful the second time around.

[Bakemat]

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 own opinion, most of the traders today are just selling and investing based on the hype in the market and those amateurs are selling their coins depending on their emotions which makes them to lose their investments.

[kasurnya]

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

and another one, do not be greedy.
get profit in accordance with the capital do not expect huge profits by using small capital.

[Farhan786]

Five common mistakes made by Bitcoin users:
1. Sending to the wrong crypto-wallet in an exchange
2. Not holding your private keys
3. Failing to find a good community/s to learn from
4. Not keeping hard copies of everything
5. Not using 2fa or saving records of the code

[Ezenwanyi]

Greediness.
Not saving ones password very well, which has caused many untold pains.
Failure to back up wallets.
Not activating 2fa authentication.
Reluctancy in learning the basics about bitcoin before jumping in to invest.

[darewaller]

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 can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD. Only someone that is very stupid, my money can’t go like that I’m always careful.

The only mistake I ever made, and that was as a newbie, was not backing up my wallet but I later realized how bad it would be, although nothing bad happened. I don’t buy and sell based on feelings, it does happen sometimes but I have learnt to control myself.

[megasynk]

6. buying some hypeshitmlmcoin

[shesheboy]

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 can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD. Only someone that is very stupid, my money can’t go like that I’m always careful.

The only mistake I ever made, and that was as a newbie, was not backing up my wallet but I later realized how bad it would be, although nothing bad happened. I don’t buy and sell based on feelings, it does happen sometimes but I have learnt to control myself.

I can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD

Yes it does happen and ive already see a lot of people having this issue . some of them do have lots of btc in their wallet before they lost it and mostly it happen because they dont realize the importance of bitcoin , they think bitcoim is only worth a penny back on its old days and now after they found out the real worth of bitcoin , it is already too late for them to recover thier old wallet because they already forget their password and private keys . too bad for those guys .

[kukurikapu]

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

Surely, this thread will definitely help newbies in this cryptoworld. But, i think it is good also for them to experience such mistakes for them to realize and learn from their own mistakes.

[fishball]

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

For tge newcomers here, you should really educate yourselves or else you will not survive. It is good to be dependent on someone who is really an exoert here but try to handle things firsthand and you will learn the most.

[Persiontateneis]

A lot of users in cryptocurrency are always failed when they are starting to use the bitcoin. So, I better research and asked first to the veterans in cryptocurrency before I started to click. I better look on how the process even the important things to be kept like back up files because I want to assure that everything I will do is right.

[joelou]

A lot of users in cryptocurrency are always failed when they are starting to use the bitcoin. So, I better research and asked first to the veterans in cryptocurrency before I started to click. I better look on how the process even the important things to be kept like back up files because I want to assure that everything I will do is right.

I agree if you are newbie the first thing to do is to read and research about cryptocurrency. And Good thing to ask a person have experience here.