Bitcoin Mistakes??

[Peanutswar]

People think once they make it to the world of cryptocurrency they can now earn like others with easy money one of the newbie mistakes is they keep joining with different investments, get caught up in the promise of different projects, get a honey pot and lose their money, if you see that the investment is too good to be true better to avoid this kind of projects, people earn here in the crypto with their hard work and knowledge, its just an opportunity to have the crypto space still you must work on it.

Also invest in your security if you have an asset to invest, invest too with your device security, like hardware wallet, antivirus for your device safety, and more to prevent having a loss of asset due to this people keep an attacks just to steal your money.

[Dunamisx]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made

Only those that haven't undergone through the normal procedures for learning about bitcoin will be the type to get involved in making mistakes that could cost them loss of assets, but you're already on the right path because you're interested in learning first before you also fall into same category as others have been when they started without learning.

and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

Avoid been greedy or too desperate for making money, then make sure you maintain a continuous learning process although your cryptocurrency period.

[Dzwaafu11]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

You are still a newbie and you want to invest, which is not a bad idea, but the thing is that you need the knowledge first; don’t think about how to earn at the moment. You need to learn before you start earning. As everyone has said, try and gather the knowledge of the investment, then later think of how you can be a successful investor in the crypto space. Although I haven’t made any mistakes that I can tell you much about, I’ll advise you to avoid any news that doesn’t have a source. The crypto space is full of different information, and you won’t even know which one you will follow because you are still a newbie, so what will favor you is that you should always be sure of what you are doing, and that’s why you need to learn first.

Another thing you should do is, while making the decision to invest in bitcoin or any other cryptocurrency, make sure you invest the amount you can afford to lose. Don’t follow the market; the cryptocurrency market is volatile and unpredictable; furthermore, don’t follow the current market you see now and invest a huge amount of money thinking that the bull is near. Just make sure you invest the amount you can afford to lose because the investment carries different types of risk, of which you need to be aware. 

[SatoPrincess]

After reading your previous post, I think I might have a fair idea of where you are in your bitcoin journey. These notes will be of help to you and other newbies:

Do's:
- Store your seed phrase offline (you can write in down on paper, use washers or engrave them on metal). Store in a location that is safe from theft, fire and water.
- Buy a hardware wallet if your hodlings are up to $1000 and above.
- When it comes to crypto investments, DYOR and trust your gut regardless of what everyone else is doing.
 
Dont's:
- Don’t rely on your memory for your seed phrase. Make sure you have a physical backup.
- Don't invest what you can't afford to lose.
- Don't trade futures if you are not a professional trader.
- Don’t be eager to diversify your portfolio as a beginner, altcoins can be tricky. It’s safer to hodl Bitcoin for long term.
- Don’t invest your money in trading bots or signals.

[Zigabel]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

I think you should be doing more of studies form other threads on the forum although there are some knowledge some persons will be kind enough to share under this thread of yours but then you can further invest in knowledge from other platforms and you can be sure to still get the required information you will need to succeed as an investor which you are aspiring to be in the nearest furniture.

The world of cryptocurrency is such a broad one and very versatile that you can choose a niche and investing more knowledge there you get to do much more better than trying to know every and anything all at Once on the platform, explore the various niches available, pick one and make it your area of expertise and then you are going to do just fine as an investor.

[bSpend]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

For me, not too many mistakes I've made aside from the couple of times I sold my crypto investments too early, for example, in 2020, I sold all my Ethereum (about 30 of them) for $250 each, and just about 5 to 6 months after, Ethereum made it to a price of around or above $4000 in the 2020/2021 bull run, I was pretty naive at the time and this action is one I've never stopped regretting over, as I missed completely on all the gains I should or would have made from that bull run.

And as a newbie, another important thing you must learn is to always know that "not your keys, not your crypto", which simply means that if you do not have access to the private keys of a wallet where you store your crypto, then ultimately know that your crypto is in the hands of whoever has the keys to that wallet, and you are at their mercy, so, to always be in control, make sure to always store your crypto on wallet where you control the keys.

And another important thing again is to try as much as possible to be open minded in crypto, crave for new knowledge for there is a lot to learn, learning never stops, as long as its crypto we are talking about.

[ScamViruS]

After entering the cryptocurrency world, new crypto investors think they can make quick profits and become rich overnight, but this is the biggest mistake new crypto investors make. I wasn't out of it either, I lost my bitcoins by overtrading and I will probably have this regret for the rest of my life. So don't over trade hoping for quick profits if you want to do well in crypto, I made this mistake I know how painful it is.

Many crypto users face various problems after they start their crypto journey due to little knowledge about wallets, hence crypto users make mistakes in selecting wallets and lose their precious bitcoins by overtrading in hopes of quick profit. So these mistakes should be avoided for a safe crypto journey.

[boyptc]

Never invest what you can't afford to lose.

Never share your private keys to anyone.

Never get hype with what the market is showing you. The most patient people earns the reward later on.

Invest on the things that you're able to do research.

Not everyone that you see on social media is real.

Never panic when you see Bitcoin plunging as it is normal whether we're in a bull market or not.

Never be too public with your Bitcoin investments because you might be a target of those scammers and physical attacks like a $5 wrench attack.

[Rustam Meraj]

After entering the cryptocurrency world, new crypto investors think they can make quick profits and become rich overnight, but this is the biggest mistake new crypto investors make. I wasn't out of it either, I lost my bitcoins by overtrading and I will probably have this regret for the rest of my life. So don't over trade hoping for quick profits if you want to do well in crypto, I made this mistake I know how painful it is.

Many crypto users face various problems after they start their crypto journey due to little knowledge about wallets, hence crypto users make mistakes in selecting wallets and lose their precious bitcoins by overtrading in hopes of quick profit. So these mistakes should be avoided for a safe crypto journey.

I agree with you new people who want to invest in cryptocurrencies should learn about the market and the risks first. If you trade too much and expect to make money quickly you could lose a lot like the others did. Before investing it's really important to understand things like wallets and other parts of cryptocurrencies to avoid making big mistakes. Being patient and careful is really important when dealing with cryptocurrencies.

[bangjoe]

I will just give very fundamental advice, "Don't buy anything what you don't know" including bitcoin, if you don't know bitcoin, how it works, how it can benefit you, how your bitcoin is safe then never buy if you don't know it, that is the basic thinking you should have before doing anything, if you insist you will become a gambler and if the price is not what you expect then you will think bitcoin is a SCAM and you will curse Bitcoin, when you just don't know what you are buying and how it can benefit you sir.

Some things have been given by forum friends, but I want to emphasize that you should never think that you can get rich from bitcoin, I think it's enough to concern your mind about bitcoin.

[Hyphen(-)]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

Learning is the basic fundamental that you need, for you to take learning as your first step, you will achieve success along the way because learning and getting the appropriate information before starting anything is good especially in the digital world.

Take every information you will get here in this forum serious, people in this forum always share the right information and any news or information you get outside here and you are doubting the information, you can bring it up here for further discussion with experts and experience users.

[Wakate]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

Learning is the basic fundamental that you need, for you to take learning as your first step, you will achieve success along the way because learning and getting the appropriate information before starting anything is good especially in the digital world.

Take every information you will get here in this forum serious, people in this forum always share the right information and any news or information you get outside here and you are doubting the information, you can bring it up here for further discussion with experts and experience users.

Learning is very important and we need to know what we are doing so that we can make money either from trading or investing in cryptocurrency. For us to keep making money in the market, we need to know what we are doing and make sure we put our money in something that is going to benefit us and give us result that would determine what we would be making in the market. Cryptocurrency has bigger opportunities for us if we know how to invest and take money from cryptocurrency based on the experience we have gathered to help us make consistent profits from the market. We either learn or unlearn which is two we need to make decisions on.

[Uhwuchukwu53]

After entering the cryptocurrency world, new crypto investors think they can make quick profits and become rich overnight, but this is the biggest mistake new crypto investors make. I wasn't out of it either, I lost my bitcoins by overtrading and I will probably have this regret for the rest of my life. So don't over trade hoping for quick profits if you want to do well in crypto, I made this mistake I know how painful it is.

Many crypto users face various problems after they start their crypto journey due to little knowledge about wallets, hence crypto users make mistakes in selecting wallets and lose their precious bitcoins by overtrading in hopes of quick profit. So these mistakes should be avoided for a safe crypto journey.

These area I totally agree with you,  it's  were many failure lies quick to get rich in the crypto system by new investor, most time the scam we here people is as a result this believe of getting rich quick , the system can make one rich but not as speed of light as many new investor pursue after the fast making of income and profit.

[Z390]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

First of all, there is nothing like too much information and too much knowledge, you need to never stop learning in this space, there are many things you will get to know if you don't stop learning.

The first mistake I made as a newbie was the crypto wallet I used, you need to understand that non-custodial wallet is what you need, make sure you read about the differences just to have better understanding,  open -source wallets that are non-custodial are the best.

Don't rush to invest, unless you are here for Bitcoin only, you can easily do research about bitcoin and chose the best bitcoin wallet for you and start buying and sending bitcoin into your wallet, but if you want more you must relax and learn even more, there are many things that you must know to avoid getting into the wrong hands.

Avoid social media that's all about crypto, like Facebook and Twitter, they are filled with bad actors, impersonators, people that will pretend to have your best interest in mind, avoid strangers, nobody cares about anybody in this crypto space, if they come seeking for your attention it's for their selfish interest.

Learn and learn and learn again, never stop learning, because this is what will make you a better crypto investor someday, every corners in crypto space is unsafe for newbies, this is why you need to take learning very serious here, it's the only tool you can use against any possible mistakes in crypto space.

[summonerrk]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

Always look for information, in the cryptocurrency world, the winner is the one who finds out the information first. Therefore, subscribe on Twitter (X) to all the projects in which you have invested in order to receive changes promptly. Use only good wallets for storing bitcoin and altcoins, this is very important! For example, once I failed to keep track of the fact that Jaxx became an unreliable wallet, and $600 was stolen from me. I recommend using the Trust Wallet or Exodus now. Also I advice to use a two-factor authentication on exchanges.

[Makus]

Op you're welcome to the forum, and this is the right place to be. Learning and gathering information is one vital part we should miss as humans, the more you learn the more you begin to gain exposure to solving life problems. As a newbie I recommend that you start your investment journey with Bitcoin, even if you have an altcoin you've spotted for investment, just let go and focus on Bitcoin because, it will give you enough insight on what to expect when you start trading on altcoins. Before you use a wallet for holding of Bitcoin first make proper research about the wallet than after downloading it write down your seed phrase, uninstall the application, install again and put in your seed phrase to confirm if it's correct or not, and that will give you a clue on how to recover your wallet should in case your device got stolen or affect due to natural disasters. Also ensure to keep your seed phrase in a water proof safe so that you'll be free from emergencies like natural disasters (flood).

[Miles2006]

Don'ts:
Avoid click any random link, install unsafe plugins, software, crack, OS system etc.
Avoid bounty, giveaway, free money, airdrop etc especially they ask to connect something or submit your identity.
Avoid use anything or impress anyone if you're a Bitcoin enthusiast.

I have seen scam stories and worst experience relating to phishing links, airdrop, and with the mindset of earning free money, this is more popular in the crypto space if I'm not mistaken and such mistakes victims are to blamed. It's best to avoid unnecessary stress and focus more on Prioritizing privacy, sometimes people usually say airdrops can be beneficial with the one that went viral on X, I still don't believe all this false information, information like this will always go viral because people searching for free money are just too much.

[KingsDen]

Being new to the world of digital finance,  I think a great way to start and excel is by gathering information from the experienced here, on the biggest mistakes you have made, and things to do and avoid. I really think that'd be a big plus for an upcoming investor like myself.

The biggest mistakes I made and I wouldn't make anymore if I can walk backwards through the time are;

• Buying during the bull run: when I newly joined the industry, I bought at the climax of 2021 bull run and the market crashed on me[/quote]
  

• Converting my BTC to stable coin because of volatility and fear of investing what I am not able to lose. All those are craps, if you meet BTC at low, go in huge and smile years later

[tabas]

What you need to avoid is the influence of other people with your decision making. Whether you wanna buy or sell, it should be you that must have the last decision. It's okay to gather and survey people what they're up to when you have something in your mind that you aren't sure of. That's a normal thing to canvas people and ask for their opinion about what you are unsure of or with a topic or thing that you haven't understand clearly. But even with that, never ever let someone influence you just because they've said something good or bad with that. Always verify the answers and opinion of people or contemplate before you follow those guides that have been given to you especially on this market that's all about investing and your money.

[Dorkylickjj]

More Do's:
Diversifying your portfolio can be more profitable in the short term, but HODLing has proven to be the safest long-term investment strategy so far.
Don't start too big before you have gained knowledge and confidence on what you're doing, but don't wait for too long to enter either, because a good way to learn is by managing a small personal portfolio.
Learn coin control.

More Dont's:
Don't be too greedy and plan ahead your exit strategy, but hodl a part "forever", just in case.
Don't invest what you can't afford to lose.
Don't believe in gurus online: fancy words, intonation, clothes, accessories, gadgets... hide the real truth: that nobody has a crystal ball. NOBODY.
For the same reason, don't believe in TA pseudoscience.

This is very useful information, much appreciated