Mistakes That Make You Poor Poor In Cryptocurrency

[eduardoabordo]

It's now mistake it really happen in crypto currency you do not know how to pump and dump i guess it's time to buy or invest because the price is to low.

[Jamescur]

The key is our wealth key!
Save your key to hold our wealth, losing the key means you lost your cryptocurrency!
The key is the most critical information, be careful to save!

[gabmen]

The key is our wealth key!
Save your key to hold our wealth, losing the key means you lost your cryptocurrency!
The key is the most critical information, be careful to save!

Well it's not only about the keys, your wallet's pretty useless if you don't own that much crypro lol. What makes you poor would be poor decision making and letting your emotions take control. The number of people losing a lot in making trades are way more than those that had their wallets compromised.

[maxreish]

Thanks for reminding about this. Backing up private keys, passwords , etc. will definitely the most important of all for me, since i am still using mobile phone to access all my accounts. You touched my awareness as i read your thread, i am gonna start to duplicate all my significant data and informations or maybe print out my private infos as well.

[Fujiati]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

we must be careful in crypto currencies because there are many frauds. we must keep bitcoin wallets from being taken by hackers, do not put passwords carelessly because it will make thieves easy to do their actions to steal.

[zubrr51]

In fact, no one is immune from mistakes, especially in such a relatively young market as a crypto-currency one.

[KuromaYoichi]

You should back up your important data no matter whether it is crypto or not. As for buy the rumor, it is usually the correct move to do, you should start buying the coin when there's rumor regarding it and sell it when the officially release the news, if you wait until the news is official then it's already late but don't forget to filter the rumor first.

[qwirtiii]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

GREED is the most difficult opponent to be successful by a person. Because of that GREED or in other words selfishness other people might be hurt about that attitude. And it may be the reason for failing in your dreams or what you want to get and your not be successful in life.

[developer101dev]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Most of the people cannot earn profit from cryptocurrency because they are earning through mining and the price is low which they cannot pay the amount of electricity.

[3la9l_kolbaCa]

You should back up your important data no matter whether it is crypto or not. As for buy the rumor, it is usually the correct move to do, you should start buying the coin when there's rumor regarding it and sell it when the officially release the news, if you wait until the news is official then it's already late but don't forget to filter the rumor first.

I believe what make us poor in cryptocurrency is our greediness, lack of preparation, and impulsiveness. They lack knowledge on how to manage finances wisely, and tend to decide on things out of excitement and not value their earnings. We tend to be driven by our emotion and forget the essence of all the sacrifices and hardwork we exerted. We must learn to give importance in what we have and be patient with life as it is full of surprises, uncertainties, and challenges that hinder us from achieving our goals.

[pandanaran]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

I agree with point number 4, many people who complain because of their loss by buying cryptocurrency, in they also make thread here, but it is clear because of their mistake to buy crypto with rumors, I often encounter it.

[nightways]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Those were what we called the risks in cryptocurrency. Several people were fall in one of those mistake, and there's obviously no guarantee for your coins to be protected in the crypto world.

Look there is nothing as perfect in the market because we do not have a concept of perfect market. So you just cannot blame crypto only because you see risk attached to your investment. Every asset that has a market has a hidden element of risk and can be out shined anytime by the arrival of a substitute with much more benefits so it is not only the crypto. Besides, there are ways in which you can keep your coins safe by keeping a strong password, investing in genuine coins, and having a backup plan.

[COCOMARTIN]

And of course not being careful,
And do not study in a crypto before investing.
Many new comers have been losing and the reason for losing them and losing their investment. So before we get into this trend first let's know the possible risks we face

[HiringYou]

Apart from the mistakes you listed,there are some other mistakes we often commit which makes us poor in cryptocurrency.First one is buying the coins with no potential. Second is buying at high price and selling at low.Third one can be  the panic selling.By listening a false news about a coin or by observing a slight drop in the price, people often start selling there coins which makes them to face loss and leads to the overall drop  in the price of that coin.

[btcjocan]

Apart from the mistakes you listed,there are some other mistakes we often commit which makes us poor in cryptocurrency.First one is buying the coins with no potential. Second is buying at high price and selling at low.Third one can be  the panic selling.By listening a false news about a coin or by observing a slight drop in the price, people often start selling there coins which makes them to face loss and leads to the overall drop  in the price of that coin.

Most common things that will make us poor in cryptocurrecy, are the three things that you're saying and that's right. Most of us buy a new coins without potential, due to thier false promises. Some of use but alternative coins in the wrong time. Some user are have no patience to wait and hold thier asset, they are going to panic selling without knowing the truth about the news they heard. That's the most wrong decision that made the user's or bitcoiners to be poor.

[Sled]

The most common that i make where in, it makes me poor in cryptocurrency and for sure a lot of people will relate to this, it is selling in a low price or during a market crash. It was in my newbie days that i always panic during a market crash and i just think that there is no good thing that will happen and it will just make me poor again so i sold my coins as fast as i can but now i already realize and doing the right way which is just being patient.

[appcoin.info]

For me it seems like those cases are not common, accept the case with storing your passwords and creating a weak ones. But the others are something specific for me that I have not encountered yet even.

[COCOMARTIN]

It really is one of the biggest problems, the hackers. Because they have the consequences of criminals in this crypto currency so many people have given up on it. So we should be especially careful that bitcoin price is rising. We must be careful.

[danipay]

You should back up your important data no matter whether it is crypto or not. As for buy the rumor, it is usually the correct move to do, you should start buying the coin when there's rumor regarding it and sell it when the officially release the news, if you wait until the news is official then it's already late but don't forget to filter the rumor first.

I believe what make us poor in cryptocurrency is our greediness, lack of preparation, and impulsiveness. They lack knowledge on how to manage finances wisely, and tend to decide on things out of excitement and not value their earnings. We tend to be driven by our emotion and forget the essence of all the sacrifices and hardwork we exerted. We must learn to give importance in what we have and be patient with life as it is full of surprises, uncertainties, and challenges that hinder us from achieving our goals.

basically the investment is always a risk, it's just how big the risk is whether it is proportional to the existing profit. one's initial mistakes can fail in an investment like cryptocurrency, usually due to the follow-up of something that is not yet understood deeply. we must always learn because our knowledge and experience will increase so that our decision will be stronger.

[CoinEraser]

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

I have another point for your list. 7. Buying asic mining hardware and never become ROI. I know some people who have lost their money through something like that.