Are you a crypto beginner?

[jasonwaves1]

Good points!  #4 got me once, luckily I caught it quick 

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[keskass]

a very useful warning for a beginners, i like a number 2 : Keeping coin in online wallet. but the risk if we put our coin in own harddisk/ wallet is when hardisk is gone or stolen. so the risk is depend how we save it carefully

[MGBloomz]

Are you new at crytpo and you seem to be making mistakes left and right?

Not to worry. A big part of the learning experience are the mistakes we make as newbies while still finding our feet.

Some are hilarious while others can have devastating consequences. But, all these common mistakes can be easily avoided with a little research.

Here are a few of those:

1. Lost Keys

It is different from forgetting your password or your pin where you can request to reset your pin or have it sent to your email address. There is no customer care for the blockchain and no way to recover your key if you lose it. Be sure to keep this secure at all times.

2. Keeping Coins in Online Wallets

Most newbies after signing up with an exchange service and purchasing their first cryptocurrencies neglect to take them out of the exchanger’s website. Again, this is another case of ignorance, laziness or a combination of both. Be on the look out for this.

3. Not Keeping Hard Copies of Important Information

Very simple yet very effective. Make sure to keep hard copies of everything.

4. Fat-finger Error

Fat-finger error can be defined as a human error that occurs when the wrong key is pressed on a computer (or smartphone) keyboard. Some of the most calamitous trading errors ever recorded in the financial market has been due to fat-finger errors. So type very very carefully.

So there you have it.  Be sure to take a good read and be aware of these easily avoidable common mistakes.

Cryptocurrency transactions are irreversible and as such, the onus is on the user to carry out due diligence before carrying out any transaction.

Nice thread. This is a good guide for a newbie like me. Thank you.

[fundyourself]

I've had several people admitting to being guilty of #3.

I guess it should have been the most important rule of all. Back up everything you have always and all the time.

[Hitch-hiker]

I'm a beginner, I just started this year at the end of the last major bull market.

One thing I leaned was anyone can present themselves to be an expert in a bull market and most of their predictions will pan out well, but then in a bear market it seems like everyone is just throwing darts blindfolded hoping to hit a winner.

[Requim]

Thank you for your heads-up. This is really helpful to us beginners. I am sure that as a beginner, I am still going to commit a lot of mistake in cryptocurrency. However, this experience will really teach me a lot and might even share it to other people for awareness.

I am really having a hard time securing my cryptocurrency, and this thread really helps because it helps beginners get tips from experienced people.

[cryptocurrencybazaar]

These are really great advises for the newbies. I would like to add another one in the list.
- Always use 2FA for authentication on any exchange site you are holding your coins.

Also, as suggested by others, it is desirable to transfer your coins to your private wallet instead of exchanges if you are not trading frequently.

[rooney567]

thanks this review very help me as a  newbies

[fundyourself]

No problem at all and we are glad this helps. If anyone else out there have anything to add, or share a helpful experience, please feel free to add below.

[RycoPsycho]

I'm new here, and will certainly do these things, thanks for this info

[ellapurity]

Yes i am, but as a new beginner i really wish to know more and put more interest .

[Cuma]

Thank you for the tips & guide.  Very helpful and informative.

[Gsmith1117]

Hi Guys, What do you think of the Pools before ICOs?

[fundyourself]

Thank you for the tips & guide.  Very helpful and informative.

No worries at all, hoping we get more tips from the others who would like to share as well.

[atomous]

Are you new at crytpo and you seem to be making mistakes left and right?

Not to worry. A big part of the learning experience are the mistakes we make as newbies while still finding our feet.

Some are hilarious while others can have devastating consequences. But, all these common mistakes can be easily avoided with a little research.

Here are a few of those:

1. Lost Keys

It is different from forgetting your password or your pin where you can request to reset your pin or have it sent to your email address. There is no customer care for the blockchain and no way to recover your key if you lose it. Be sure to keep this secure at all times.

2. Keeping Coins in Online Wallets

Most newbies after signing up with an exchange service and purchasing their first cryptocurrencies neglect to take them out of the exchanger’s website. Again, this is another case of ignorance, laziness or a combination of both. Be on the look out for this.

3. Not Keeping Hard Copies of Important Information

Very simple yet very effective. Make sure to keep hard copies of everything.

4. Fat-finger Error

Fat-finger error can be defined as a human error that occurs when the wrong key is pressed on a computer (or smartphone) keyboard. Some of the most calamitous trading errors ever recorded in the financial market has been due to fat-finger errors. So type very very carefully.

So there you have it.  Be sure to take a good read and be aware of these easily avoidable common mistakes.

Cryptocurrency transactions are irreversible and as such, the onus is on the user to carry out due diligence before carrying out any transaction.

Thanks for sharing your thoughts. I have some ideas in this forum. I think this is so important for me.

[Cuma]

Good thing you write this, now I can learn and not make mistakes.

[vishnu_g]

Defenitely gonna make hard copies. Thank you for the heads up

[fanBit101]

well, I recently engaged in cryptocurrency market. I'm looking to understand and exchange of experience before investing.

[caudalmar]

Are you new at crytpo and you seem to be making mistakes left and right?

Not to worry. A big part of the learning experience are the mistakes we make as newbies while still finding our feet.

Some are hilarious while others can have devastating consequences. But, all these common mistakes can be easily avoided with a little research.

Here are a few of those:

1. Lost Keys

It is different from forgetting your password or your pin where you can request to reset your pin or have it sent to your email address. There is no customer care for the blockchain and no way to recover your key if you lose it. Be sure to keep this secure at all times.

2. Keeping Coins in Online Wallets

Most newbies after signing up with an exchange service and purchasing their first cryptocurrencies neglect to take them out of the exchanger’s website. Again, this is another case of ignorance, laziness or a combination of both. Be on the look out for this.

3. Not Keeping Hard Copies of Important Information

Very simple yet very effective. Make sure to keep hard copies of everything.

4. Fat-finger Error

Fat-finger error can be defined as a human error that occurs when the wrong key is pressed on a computer (or smartphone) keyboard. Some of the most calamitous trading errors ever recorded in the financial market has been due to fat-finger errors. So type very very carefully.

So there you have it.  Be sure to take a good read and be aware of these easily avoidable common mistakes.

Cryptocurrency transactions are irreversible and as such, the onus is on the user to carry out due diligence before carrying out any transaction.

#3 actually is a very important tip.  despite of everything being online, digital, it is for the security and safety purpose that hard copies still come in very helpful and relevant for us.

[VelascoMark20]

Thanks for the tip, beginners like me have a lot of things to learn in crypto. This information will be a good foundation for me.