Since you started crypto what has been the greatest mistake you made?

[boyptc]

Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.

You should have sued him if you know him personally. How much was the price of bitcoin back then when it happened?

I think most of the mistakes were just the same and I consider them all having the lessons that I've used up til' now. Like didn't bought a lot of bitcoin during the early days when I knew it. The same goes for Ethereum and BNB.

Mistakes like that, I think everyone does have the same mistakes and also goes for not selling during the peak or is it still considered a mistake if that happened on 2017's peak? Maybe not anymore since we've got new ATH.

[Upgrade00]

My biggest regret would be spending time and effort on shicoins. If I had fully focused on stacking sats from the get go, I would be in a much better position now. Not complaining though, and in hindsight, there was no way a newbie could have fully understood how cryptocurrency works.

if you don't tell us the evidence for the story, you may also want to trick us into believing that you have been scammed. Is this fair?

Is there any incentive to lie in this case? The thread does not require evidence, so posting them would be unnecessary.
Also, you'll be surprised how many people trust people they meet on the internet.

[LTU_btc]

Damn, OP, your mistake is very expensive. When exactly did it happened?
I made enough mistakes during my time in crypto. I lost quite significant, but not life changing money. Shortly, it was wroong investments. During peak of ICO's, I had invested in several ones without making proper research about project. Several turned to be completely scams, in other I never got ROI, value of these coins were close to 0 after ICO. Some of these coins is still laying on my ETH wallet.
These mistakes were good lesson, but I'm trying not to look back too much.

[nurilham]

One of the risks in the crypto world is scams, so don't trust other people too much, especially with their tempting offers. There have been many cases like this with different fraud modes. It's better to try and learn to manage our own assets. Personally, the mistake that ever I made is too much of a hurry so that I get a loss where I sold it when the market was down because of the panic that I was experiencing. Learn from mistakes that in order to face the ups and downs of the crypto market we don't need to panic, everything has its time. Wait until the market completely recovers to sell it.

[_act_]

• Don't use margin if you have less than 4 years in this market
• Don't use margin if you are not rich and have big capital
• If you use margin, please use not more than 10% of your whole capital for margin trading

This is a very good advice, but you did not include one, the maximum margin that someone can go for, individual have different margin they can go for. Some experts will say it is good to use 1x margin which means the trader will be able to open either long or short position which is an advantage over spot trading.

The maximum margin I can go for is 3x which is still high for me, I use it of the market had significantly fallen and I know the price will increase within hours. I prefer to take 1x or 2x most of the time. Some beginners will go for 10x to 100x which is where the learn most of their lessons. In this way, traders can lose millions of dollars within short time.

[Peanutswar]

One of my greatest failures in crypto is not investing when the price of the coins is affordable and I still don't make an investment. Also as possible avoid holding a single coin like most of your money is on that coin take it easy if that coin crash all of your assets is not ideal and profitable anymore. Still, the market is all about the risk it depends on you how you can handle your assets and risk management.

[cheezcarls]

Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.

My biggest mistake when I’ve started crypto is that I believe in the so called “I send him ETH, and he give me more ETH” lol. It only happened to me once. I don’t remember how much ETH I did send, but I think it was only worth $50 and then he blocked me on Telegram. During that time, it stings for me and I have no choice but to accept it and learn my lesson.

I am still thankful though for the experience. It made me do better decisions next time until today. Now I kept educating the newbies and beginners not to fall for this simple scam ponzi tactic.

[YOSHIE]

My experiences have taught me a lot and I'm happy with my learnings.

If you talk about mistakes, of course there are bad things I did in 2019, my friend suggested to buy 1 or 2 Bitcoins at $6000/Bitcoin, i ignore it, that's my stupidity and a total mistake until now sorry, why did I not obey the advice of my friend.

Now what to say, the ship is difficult to chase deep into the ocean, can only see and reflect on the mistakes that have become the worst nightmare of all time, maybe at that time my luck was not lucky, that's the worst reality I've ever experienced in Bitcoin, if....!

[The Cryptovator]

In a simple word trusting Altcoin/Token was the big mistake in my life. When I had approx 1.5 BTC the price was around $5K. I thought it's possible to increase my portfolio by trading. Unluckily I had chosen a couple of shit coins and current value only approx $1K. Means everything I lost by trusting shitcoin. The team just disappeared during bull or bear. I am pretty sure they just sold all the tokens and dump price. They don't care about holders or the community. That's what my costly lesson  I can't forget ever. So take lessons from here. Don't try practically lol, and don't trust shitcoin that doesn't have any value.

[Woodie]

I dont really recall how it all happened but In the early days of crypto when we had localbitcoins which was a top peer to peer exchange at the time and for some reason the hacker had found a way to my lbc account and this happened when I tried to exchange crypto for fiat and before i knew as we chatted i gave the hacker my google verification code which meant he locked me out of my account which gave him access to my exchange coins which he wiped clean out of my account but this is water under the bridge as this was a learning experience for me to pay attention to details.

[isaac_clarke22]

Well like others had mentioned in here, it is trusting Altcoin too much. I still recall holding some of the tokens I earned from my discovery in the forum here back in the days. I held it for a year and good thing that I already sold it before the chart flattened out.
It is not just worth the hold anymore. Expect pump and dump coins in the Altcoin side.

[Mpamaegbu]

I have not made any big mistakes, as both of you have described.

It's about time you had your baptism of fire (regret of lose, as used here) too so you can have something to brag of like the rest of us pre-2018 registered members. On a serious note, I don't think there's anyone who got on this forum before 2017 who doesn't have a rueful experience to share. It will be very difficult to find one. You got on board here in 2020, and started well before the 2021 bull reason set in. You must've read extensively to know what pitfalls to avoid. However, don't loose your guard and believe you can't make a wrong call or judgment. Bad decision isn't the exclusive of noobs.