Share your costly lesson about cryptocurrency..

[examplens]

I think I have gone through most of the expensive lessons if we are talking about cryptocurrencies.
My first lesson, "not your keys, not your coins" is made by ^{it is now a global legend} Mt. Gox.

Something more expensive cost me when I try to help some people with the configuration of some scripts I didn't know or checked it was a malicious ^keylogger. I infected the whole computer, which caused serious problems because it is always on, with all the possible logins I use. It cost me around 7-8 Bitcoins, (one solid part was in altcoin so the value varied a lot).
there I learned that although I have all the keys, it's not enough.

only after all the losses, I buy a hardware wallet

[Nathrixxx]

I've learnt that human needs are insatiable, some thinking to have hold their Bitcoin in their respective wallets years back forgetting that we have needs and wants and the needs are inevitable, I never regret not investing on Bitcoin when it was 15000 dollars back then, but what I do now is to trade and track the market strategy and movement to always hit while the iron is hot.
My costly experience here is getting involved in some fake bounties and unrealistic campaign created by fraudulent groups of people I would have devoted my time, data, and skills on such but later get flagged out red as scam what a pity, pls let's beware of flashy things too exciting to be real as most are fake and fraudulent.

[Rockstarguy]

Some years back I had money which if I should invest into cryptocurrency I would have been very stable by now. But I missed the opportunity due to lack of knowledge and ignorance.
I didn't have any understanding about cryptocurrency. I learnt my lesson not to take things for granted. Seek knowledge to know things to get more understanding and information

[Freewallet]

As early comments on this thread, it is related to trading which is all of us was experienced.

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[aysg76]

My story is insanely simple. I did not believe it at the moment when it was necessary to accept payment in bitcoins. I was paid my salary in e-currency, but at some point, my boss offered to pay in bitcoins. It was a long time ago. I refused. After a while, by agreeing to such a payment, I could have become decently rich. But as I once realized, big money is not for everyone either. And I probably couldn't have done it at the time.

Sometimes we came across many opportunities but if we don't have it our luck we will miss it and later on we can regret it remembering such instances.Something similar happened to me in past when bitcoin was not so famous and i was also not aware of it and one of my friend has given me a marketing project to advertise their company and conducting social media campaigns for them and were ready to pay in any crypto or USD and as i was not familiar with it i choose legal currency to meet my expenses as i need them urgently.It was worth $200 and if i would have taken the same in bitcoin it would have yeild me high returns if hold it.But sooner or later you realise bitcoin is best option you became knowledgeable and mature.But happy now i have it.

[boyptc]

This is a good topic that has a lot of mistakes experienced by everyone.

Well mine isn't bad as what others have said, it is the common mistake anyone, newbie or not that upon selling, you'll have to do it even if the price isn't that high.

So yeah, selling at low.

[Issa56]

I love this topic. One of my costly lessons was when I started trading last year around January trading was going fine but I was having just little amount I was using to trade so I was not satisfied with the profit I was having so after few week's I approached one of my friend for a loan which I promised to pay back after one month, he agreed and borrowed me the money the first coin I bought thing's went well and I sold the coin and then invested in around coin again, I invested in SXP coin on binance which was around 2.7$ after buying the coin bitcon started dumping the coin I bought also which is SXP also started dropping in price gradually all my thinking was that it's going to pump back again in the next few week but SXP dropped till around 0.8$. Which I was very frustrated because I borrowed the money which I invested and it was more than one month already which my friend is already requesting for his money which I borrowed and I promised to payback in the following month. So then bitcoin pumped a little bit and SXP also pumped to 1$ which I sold the coin I bought I knew it was at lost but my friend was already disturbing me for money so I have to sell the coin then look for money again just to balance the depth am having. This happened to me around August-September last year.

Conclusion: my conclusion is that never take a loan or borrow money from anybody to invest in Cryptocurrency is better you start building the little capital you are having than taking a loan because you can't trust any coin  anything can happen at any time. THANKS!!!

[KingsDen]

Costly mistake:
I was in a rail for a transit of some hours. I couldn't charge my phone before the movement because I had a charged powerbank which I normally use during my trip. Unknown to me that after my last trip, I didn't charge the power bank.
So, during the trip, someone called me to enter and buy one altcoin immediately with 100% assurance of x10 move. I didn't bother checking my technical strategy, because I trusted the source. I jumped in with 100% of my portfolio. Immediately my battery became low, I grabbed my power bank and no life, my phone went off.
Not knowing when I was off, the whales entered and manipulated the market.
After the pathetic journey, my portfolio bleeded to death.
Lessons Learnt:
1. Never to enter market without corresponding any given information with my personal strategy.
2. Never to Trade without stop loss.

[Dripstoil]

I have two Bitcoin costly mistakes that I still regret probably up till now. Some time, I just wish I could turn back the clock.

First was refusing to invest $50k in Bitcoin when it was $1 to 1BTC. Then I knew practically nothing about Crypto but someone with the vast knowledge approached me with the investment proposal and plan to hodl for ten years which I turned down.

If I had invested that amount then, perhaps it would have worked in my favour and I'd be a Billionaire by now  

Second was selling my 0.5 BTC at $3,000+ in 2019 just as soon as I got it. If I had waited few more months, I'd have made $20k extra or more.

[Gorosden]

1. I sold 12 ETH for ESH a crap altcoin in 2020 and lost 90% of the money, I should have hold my ETH instead

2. I made 10x from a meme coin this year instead of taking profits I started hoping that 100k per BTC become a reality, greed consumed me whole

3. I promoted a project that worth 1000$ and I failed to sell no knowing that this altcoin is already at its ATH, two days later it lost 70% of its value

[Pmalek]

...but someone with the vast knowledge approached me with the investment proposal and plan to hodl for ten years which I turned down.

If I had invested that amount then, perhaps it would have worked in my favour and I'd be a Billionaire by now  

Someone? It depends on who that someone is. If it's a person you know and trust, it could have been a legitimate proposal. But if the person is unknown, you might have actually saved yourself from losing $50.000 and maybe making that person rich. Investors don't really go around and ask random people to invest together with them.

[yazher]

Mine was when I failed to invest in some known cloud mining site because they are closed as soon as I get some capital to invest, I didn't know that they were preparing to run away with the people's money. so I ignored the event and proceed to some other cloud mining site thinking that I might pull the right and stable one. guess what? after about 2 months, that cloud mining was closed and that was the start of the fall of cloud mining throughout the internet because the truth has been cleared because they are not real, they only using investor's money to pay everyone until they can stock a huge amount of money and they disappeared without a trace. I lost about 0.5 BTC back then but the price was not that high about $200.

[TinaK]

I had different stories of costly lessons that until now I feel regret.
I wasted a lot of bitcoin since then when it was around almost $4k price, it was the second quarter in the year 2017 which is bitcoin started to grow price. I gambled using bitcoin at that time and I bought sometimes 1-2 bitcoin every month or every two months just to deposit on the casino which is I forgot the name of that casino (I think they changed their domain name I didn't find right now).

Maybe 5-10 bitcoins every year that I have lost at that time, if I hold that amount until now I even the richest people here in my country.
I was so addicted at that time to gambling and the reason sometimes I'm trying now to control myself.
The lesson that I've learned, we should keep bitcoin as a valuable asset because from now on bitcoin will continue the price rising up, if we are now in $50k, maybe after 5 years, we are in $500k which is bitcoin is very expensive.

[Trojane]

I felt very bad when this thing happened to me because I already expected something big from the few tbtc I had; I sold this coins when btc price was down, 'bout 15k dolls/ btc and I felt I was at the safer side by doing so after loosing almost half of what I invested.....
It was very sad to see that few months later, btc began to take a walk up to its peak and I saw with my own eyes how I lost coins, I became so cold and since then, I learnt a big lesson never to hurry on any e_market

[Peanutswar]

In the very first place, I just used the strategy of buying when there's a fund it doesn't matter if there's a price pump or dump because I'm a complete newbie as long as I have my coin specifically bitcoin. Then some people say just we need is to know a strategy when to buy and sell. After I have some basic knowledge in trading and market graph one of the most exciting parts of the trading I tried to make leverage over 100x because I saw a good market profit and then unexpected dump comes up and I use cross margin trading which cost most of my funds over $3k and then I made a more research to use with the other tools like the TP, SL and the isolated that time I tried to make an analyzation every mistake.

[Ethan151]

As the name implies BITCOIN, stands for small pieces of metal or money which can easily develop over time.. in 2017 when I was formally introduced to bitcoin i never took it serious but today 2021 the value, respect and popularity it’s amazing, this aspect has brought a lot of changes in various economy, no matter what bitcoin will continue to play an important role as a true gift to man.

[JoyMarsha]

From the people's experience, I have read and gotten from this forum so far. Bitcoin stands as the best coin to ever invest in. Selling bitcoin for another coin will be the worst mistake ever

[Ryker1]

From the people's experience, I have read and gotten from this forum so far. Bitcoin stands as the best coin to ever invest in. Selling bitcoin for another coin will be the worst mistake ever

Well you have a point, many of them have been regretted what they have done earlier. We should trust bitcoin and hold them as long as we can because it truly gives benefit us in the future. Someone asked here in the forum if they are late in investing in bitcoin, NO--it is not too late to invest, if you did not invest yet, you can buy as long as you can that affordable to you.
The same like as what happened to me before when I sold all my Ethereum knowing that it is an altcoin and don't have any guarantee to make a profit, I did not know that ethereum now become expensive and if I did not sell it earlier, maybe I can sell it now and invest in bitcoin. People regret when they saw a better opportunity but in fact, at that time, it's satisfied with their needs.

[ReiMomo]

As the title says, please share your costly lesson about cryptocurrency. So others users could take a lesson from your story and they would get the advantage of it without losing anything.

When we learn a lesson, most of the time we lose something. And there are a few losing stories where we lost a lot and that's the reason why I consider this kind of lesson ad a costly lesson. I had shared previously my story, I will just remind it shortly.

In 2017 I had almost 1.5BTC and I hadn't sold even Bitcoin was around $19K above. So we know the Bitcoin dump story. Since Bitcoin was dumped too much I wondered to increase portfolio by trading or holding alts. So I just choose a few shitcoin. Some of them were delisted from the exchange, so I moved all-in single shitcoin. Sadly that's shitcoin is totally useless. Perhaps it's worth $1K in the current market. So it was a costly lesson for me. Don't choose a shitcoin for investing purposes. Just invest in Bitcoin and hold it. You will never regret it at all.

What is your costly lesson?

I came in here in 2016 and really earned a worth of 0.2 BTC but yes I used them for my expenses then and there and seeing this year's ATH I really thought, what if held the BTC earned. Like wise, I had around 500 BNB, 100K Matic and really sold them at very cheap rates in 2018 but yes for profits. But I learnt later that I should hold long, invest in long term and never sell them off in panic. Now started to accumulate few best coins. The journey brought me confidence in Bitcoin and Crypto currencies.

[Kelvinid]

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I came in here in 2016 and really earned a worth of 0.2 BTC but yes I used them for my expenses then and there and seeing this year's ATH I really thought, what if held the BTC earned. Like wise, I had around 500 BNB, 100K Matic and really sold them at very cheap rates in 2018 but yes for profits. But I learnt later that I should hold long, invest in long term and never sell them off in panic. Now started to accumulate few best coins. The journey brought me confidence in Bitcoin and Crypto currencies.

We all have the same story when it comes to crypto. As we never think that Bitcoin will even reach $70,000 faster that is why we spend them earlier or even sell them as we are about to think that "what if one day Bitcoin will dump and turn to $0"? We have had that mindset before as we listen to many experts saying it "collapse" but it was very fortunate to see Bitcoin keep on the rally and speedy growing despite the negative thoughts we've heard around.