Some Mistakes among Bitcoin users in Naija , what I noticed.

[ruykeri]

From my short experience, I have noticed some common mistakes among those who are new to Bitcoin. In some cases, such small mistakes can cause big losses. Therefore, you should be careful about some things. So that such mistakes can be avoided.

1. The mistake that new people make the most is that they decide to buy or sell Bitcoin by watching videos on social media and YouTube. The price of Bitcoin does not increase or decrease due to the hype of social media. So newbies should make logical decisions. Do not make any decisions by listening to someone or watching videos. You should be patient and calm before making all kinds of decisions.

2. There are many people who do not understand the difference between a wallet and an exchange. One thing you need to understand is that the control of the wallet is completely in your hand. But the control of the exchange is not completely in yours . If the exchange ever closes, you have to lose your coins. Which many people understood during FTX.

3. Many times, while doing P2P trading, Bitcoin is released without checking Proof of Payment. There are many fraudsters who edit and send the payment release screenshot, then you should check if the money is entering your account and release the Bitcoin.

4. And when it comes to investment, you should always be calm. You should never rush. You should not sell Bitcoin out of panic. You should always analyze your financial situation, expenses, and lifestyle and make the right investment decision.

5. Newbies often make a mistake, which is that they talk a lot about their Bitcoin with friends or relatives. Even sometimes they make transactions and avoid all these things in front of everyone. This is na correct. You should keep it secret. When no one knows whether you have Bitcoin or not, then the chances of you having problems are less. .

If you can keep a little careful about all these things, I think security can be increased a lot.

[Donk1]

If I may say security and privacy is one major thing that we should always prioritize, because if an exchange is the one who holds your private keys it's easy to say you are not the owner or you are not in control of your crypto. That's why there is a popular reminder that says, Not your keys not your coins. To me when you hear this word, consider to move your coins to your personal wallet. However as crypto enthusiasts we should never overlook any small or minor action we are supposed to take because a simple mistake can cause us a lot in the crypto space. That's just it, folks.

[Sally9256]

Generally I think knowledge is what they need to seek before they start their Bitcoin journey. The mistake is that they fail to seek knowledge and it then leads to every other mistake.

It's actually good to keep your investment private but sometimes too private can also lead to lack of support and sometimes missing out on some valuable insight from experienced individuals. Be security conscious at all times and share less information about your investment.