Avoid these mistakes and use these tips!

[matthewoz101]

Making mistakes COULD cost you $$$ and all of your savings. People suicide over cryptocurrency. I hope this post saves some beginners.



The difference between public and private keys

Public Key = Wallet Address. Only needed for receiving coins to your wallet. Or you can use someone else's public key to send coins to them. Make sure the wallet you send the coins to have compatible wallets. For example, you can't send a TRX-20 token to a MEW or other ERC-20 token compatible wallet.

Private Key = Password NEVER, under ANY circumstance, give your private key to ANY website, person, place, etc. NEVER give out your private key. That's the key that will allow you to restore your wallet or give someone else access to all of your tokens in your wallet. 


Scams/Ponzi Schemes

There are TONS of websites that claim to give 10% back every day. These are Ponzi schemes. Many of the top exchanges will revoke projects when they guarantee returns of 10% a day or other goals, for that reason. People pay the first people, and the next people pay the people that got in before them. There isn't an actual product. Have a look at Bitconnect if you'd like to know what the biggest ponzi scheme of this year was.
 
Stay off the hook of Phishers

Phishers can be in the form of an email, website, wallet, app, etc. The goal of the phisher is to take your sensitive information, like a username/password, a private key, etc. Always check the URL, the email address, etc. For example, KuCoin.com as opposed to KuCoinn.com Some apps look official as well in the playstore and ask for your login information to Binance or another exchange, but they're complely fake and will steal your Binance funds.


Only trust yourself on the internet

Telegram, Discord Servers, etc. are full of fake news, pumping/dumping, and much more. They don't care about you, they care about your money. If something sounds too good to be true, despite crypto being full of prosperous opportunities, it's most likely to be a scam.


DYOW

NEVER take the advice of a Medium post, Steemit post, YouTube video, Facebook post, Reddit post, etc. no matter what the comments, numbers of likes, views, or whatever it is. They can be fake social signals, pumps/dumps, paid for content that wasn't mentioned, and other incentives for making the content that may not be in your best interest.

Don't invest more than you can afford to lose

Some people bought Bitcoin for around $20k at the beginning of last year. Look at the price now. Look at other alts. This market is unlike any other market. Avoid loans for crypto, please! If you don't have money, but want to invest/make money in cryptocurrency. I'll tell you about bounties.

A couple more useful tips

Bounty programs are usually simple tasks that allow ANYONE to earn cryptocurrencies for free. How does this work? New cryptocurrencies allocate certain funds in order to promote their cryptocurrency. The most common bounties are Facebook, Twitter, Reddit, Blog posts, YouTube videos, Telegram, and others. Some only involve upvoting reddit posts daily, while others involve having a huge social presnece and creating original content. Start participating in bounty programs here on BitcoinTalk: https://bitcointalk.org/index.php?board=238.0

Here are my referral links to some of the most reputable bounty platforms. Feel free not to use them: bountyhive.io/r/matthewoz https://beta.bounty0x.io/bounties (Use referral code e5b8d9)

Use escrow on BitcoinTalk for trading. This will make it much safer. It's a trusted middleman. https://bitcointalk.org/index.php?topic=4907130.msg44205656#msg44205656
 
A list of escrow services:
https://bitcointalk.org/index.php?topic=2439910.0
https://bitcointalk.org/index.php?topic=276897.0

[jossiel]

What DYOW means? or it's just a typo error?

Use bookmark for those websites that you often visit and do transactions such as exchanges and casino's. It's better to be safe though its save on your browser by just typing, still small details can change a lot if you are careful.

[Jimbable]

What DYOW means? or it's just a typo error?

Use bookmark for those websites that you often visit and do transactions such as exchanges and casino's. It's better to be safe though its save on your browser by just typing, still small details can change a lot if you are careful.

I'd think he meant Do your own research, and R is pretty close to a W on keyboard.

[nngella]

The most basic is really determining the difference between private key and public address.  Many newbies, including me before, always fallen to the trap of scammers asking for their private key.

[danice15]

The most basic is really determining the difference between private key and public address.  Many newbies, including me before, always fallen to the trap of scammers asking for their private key.

I agree with this. This is the most common issue that newbies are experiencing. That's why in this kind of industry you should trust no one. You should be more careful especially in your private key and public address. This keys are the most important thing. i know someone who destroy the 10 years of bonding because of this things. Well, were talking about money. So once again trust no one.

[Risoruni]

The most basic is really determining the difference between private key and public address.  Many newbies, including me before, always fallen to the trap of scammers asking for their private key.

Even by definition "private" means private and "public" is public. Even being a newbie, it's easy to realize that it's better to keep your private key safe.

[jseverson]

The most basic is really determining the difference between private key and public address.  Many newbies, including me before, always fallen to the trap of scammers asking for their private key.

The difference is pretty explicit if you ask me. The problem is that newbies don't know what private keys actually do. If they knew going in that their private key is essentially their wallet itself, a prospective scammer would have to lie pretty creatively to have them share it. OP was right to list that first, and what sharing it could mean.

[tazmannia]

In fact, the problem is much deeper. Viruses are the bugs people that can infect your computer or browser.
There are a very large number of people who do not use a firewall or antivirus and this is a big problem. Free versions may not always protect you from such spyware viruses.
Their meaning is simple. You enter passwords, and they are automatically sent to the attacker's computer. Or as mentioned above, when you go to a phishing site where you enter your login details.
Recommendation. Less visit on pornographic sites and less download suspicious programs, not with license sites. Shit sites, this the first source of contagion...