Things I wish I knew before starting my crypto journey

[XUR_TIP]

I had no one and I was so determined to find my ways around and here are the costs

1. In 2017 there are many new altcoins mostly PoW coin and I was so hooked to finding the next big thing another projects that will be like BTC and ETH so I started mining every new coins I saw, as time goes by 95% of those coins end up worthless, I was just luck that few ones survived ( havven protocol, electroneum, Loki)

2. I don't know that with underclocking and overclocking can make you safe power consumption on rigs, I just insert GPU in motherboard and start mining , sadly I did this for two years

3. I never knew that some GPUs are better than the other, I went out to computer store nearby and buying whatever I could get my hands on, HD7770, HD6950, GTX 660 etc

4. I even store my coins on wallets like Free wallet which is a very bad one, never knew about centralised and decentralized wallets, I ended losing 1 million doge coin to Free wallet

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

[Charles-Tim]

Life is a lesson and what we are exposed too, many of us have learnt lessons from one or two or more things we are exposed too, this can be a past failure or lack of knowledge that led to failure, but we learn to stand and make corrections for the ending to be perfect, poor start does not mean happen ending will not be the end chapter.

4. I even store my coins on wallets like Free wallet which is a very bad one, never knew about centralised and decentralized wallets, I ended losing 1 million doge coin to Free wallet

This has been the mistakes new people that just know about cryptocurrencies do make, my first wallet was coinbase.com, I did not even know there is anything called seed phrase or private key. My second wallet was Coinomi, I did not even know there is anything called close source and open source wallet. I started to know about bitcoin and other cryptocurrencies in November 2019.

But can you tell us further how you lose such huge amount of doge on Freewallet? Although, if it is not your key, it is not your coin, using noncustododial wallet like Electrum and hardware will be perfect.

Just know that you are not late to know all these.

[Lucius]

@XUR_TIP, you are not the only one who can tell a story like this, because a lot of people were looking for "the next big thing", and even today the situation is not much different, only the names of all these shit projects have changed. Nothing can go back in time, but no matter what, you have gained some experience that gives you an advantage over many people who are now probably making the same beginner mistakes as you used to.

As for Freewallet, they’re not completely scam, but they definitely operate in the gray zone with their dirty tactics (extremely demanding KYC). Yet from many cases on the forum I know that users were able to get their funds back when they put public pressure on them, so you should try to do the same.

You need to open the thread in Scam Accusations (using the scam report format), and then send a PM to their official representative on the forum. For that money I would definitely do my best, especially if you only need to invest some of your time.

[Gunday_07]

It takes time to fully understand what crypto is all about and whatever you faced isn't new to many, your end result would have been different if you do your own research though instead of seeking for someone to me your mentor or teacher, without all these mistakes you won't be who you are today I believe, stay away from free wallet to me they are in between scam and non scam, without private keys they can steal users fund and still put blame on the users, I'm glad you now know the difference

[UserU]

We can't always avoid scams. I myself have been scammed, although that did not involve crypto.

At least these kind of incidents serve as teachers so we don't repeat them.

[Lafu]

I had no one and I was so determined to find my ways around

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

Thats is the hardest way but also the most effective way to learn things and gain experience !
Remembers me of myself back in the end of 2011 nearly the beginning of 2012 when i started mining ,
in this days there was not much you could be reading how the best settings are so i have done it with try a lot of things.
Ended up with a explowed power supply and GPU , and started reading here on the forum without registration for 3 years.

[Stanlo]

I'm not scared of failure, honestly the harder you fall the smarter you become, same things have happened to me in 2016/2017 where I was too busy gathering shitcoins but today it's all well and better and I'm glad those things happened to me then.

[Kontibruno]

I guess that's the importance of belonging to a forum like this. In as much as it is good to make some mistakes and then get smarter with the lessons learned, that must not always be the case. When others talk about their mistakes, we should also learn from them.

[Marvelman]

The only thing I wish I knew before embarking on my crypto journey was how much Bitcoin's value would rise over the next few years. Today, I would like to know precisely the same thing.

[Nathrixxx]

I had no one and I was so determined to find my ways around and here are the costs

1. In 2017 there are many new altcoins mostly PoW coin and I was so hooked to finding the next big thing another projects that will be like BTC and ETH so I started mining every new coins I saw, as time goes by 95% of those coins end up worthless, I was just luck that few ones survived ( havven protocol, electroneum, Loki)

2. I don't know that with underclocking and overclocking can make you safe power consumption on rigs, I just insert GPU in motherboard and start mining , sadly I did this for two years

3. I never knew that some GPUs are better than the other, I went out to computer store nearby and buying whatever I could get my hands on, HD7770, HD6950, GTX 660 etc

4. I even store my coins on wallets like Free wallet which is a very bad one, never knew about centralised and decentralized wallets, I ended losing 1 million doge coin to Free wallet

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

Live is in stages, but it's always good to learn and keep on learning even if it cost you, most of us make the mistake of not making the needful before dabbling into it, a house is not built a day, it takes a process, but thanks to my "mentor friend" who has been taking time out of his busy schedules in putting me through, I will suggest some crucial things to know and do before and while venturing into crypto.
1. Patience
2. Research
3. Time devotion
4. Consultation
5. Technical knowledge
6. Consistency
7. Persistency
8. Required gadgets
9. Steady internet
10. Study crypto trends

[GeorgeJohn]

The life of a cryptocurrency is a gradual process likewise a general life of the living, and at this point of time we have to accept or embrace our mistakes as a pathways of correction and understanding, in cryptocurrency journey it requires many process or strategies to execute it, for it to come in reality the following are little steps a beginner in cryptocurrency generally have to acknowledge or observed, at first, conducting a research of cryptocurrency, secondly knowing the advantages and disadvantages of cryptocurrency, which might come as a result of implications and remedy of crypto sphere, finally adoption of method of crypto and adoption and acceptance of a correction to whom that's perfect in crypto network.

[passwordnow]

That's a lot of Dogecoin that you've just lost and good to see that despite the experience that has happened to you, you're still staying and you want to continue your crypto journey. For sure if you had one mentor, you're on the right path and as long as that mentor doesn't have any hidden agenda while teaching you, you probably are enjoying the profits already. But that's how it is, we learn from our mistakes and those lessons that we take from them are going to make us better.

[20kevin20]

It's a new space, so not many know how to stay away from scams. For many of us, it's been simply a lesson on our own skin rather than having someone to teach us how to do this stuff without messing up. What is worse is that not many know of open-source and why KYC is bad, which makes so many people vulnerable even today to scammers..

There will come a time when perhaps the majority will know how to stay away from the most well known scams. But we probably have to wait at least a few more decades until this is common sense.

[pakhitheboss]

@XUR_TIP you are not the only one who has lost. I too had lost a good sum of money because I did not create a backup of my wallet and lost my private key. Only after being here for more than 3 years now that I am aware of a lot of things that I never knew earlier. To date, I am still learning and this forum has been the best source to all the question I have.

[Tim-BTC]

The experience of failure is universal, not only in terms of investment, but also very useful in any other aspects.

Human growth is basically a process of experiencing failure. No one has succeeded all the way. All life is stepping on.
Moving forward with failure, it's just that some people can swiftly cross over, while others can't jump out of the circle of failure for a lifetime.

Back to investment, the experience of failure is also very valuable. You failed, it must be because of the imperfections of your own investment system. Only when you find these shortcomings can you make targeted improvements. It can be said that those who do not learn to reflect on and sum up the experience of failure will never be able to make money in the market.

Fortunately, we all have a chance to start again.

[cabron]

We all have worse experiences while we just beginning to learn in crypto. I was not into mining but just investing in crypto from the beginning which during the ICO days that I have learned the hard way. Which I have just spent my ETHs to waste.

But I have learned well where to put my coins to be safer that I have not put them on an online wallet. 1M doge is going to be a lot of money these days. You must also be a gambler like how we use doge in the beginning.

[libert19]

Can you elaborate on how did you lose your doge with freewallet?

[cryptoaddictchie]

Hey mate thats fine. Consider it as experience at least you know now there are some pros and cons. Those mistake will never be the same again sincr you learned it already.

You dont need teacher but you can make up for some by lesrning on your own. Like digging some on internet and hang around on mining forum like this one where discussions can be indeed a good teacher. Anyway good luck with your journey.

[dansus021]

Can you elaborate on how did you lose your doge with freewallet?

when i saw the thread this was keep in my mind  

1 million doge was a lot but back in 2017 or 2014 is worthless

but besides out of that you have a lot of experience if this was a game maybe you are the top among pro player

[libert19]

Can you elaborate on how did you lose your doge with freewallet?

when i saw the thread this was keep in my mind  

1 million doge was a lot but back in 2017 or 2014 is worthless

but besides out of that you have a lot of experience if this was a game maybe you are the top among pro player

Idc about value, I want to know how he lost those doge and what part freewallet played in it.