What is the biggest Bitcoin mistake you've made and what did you learn from it

[Queen uloma]

For me anyone that trade with Bitcoin either have a good and sad story, that they have experience that's very unforgettable, anyone that says that Bitcoin is predictable is a very big liar, because half of all the investors and even new beginners have made at least one or two mistakes, that has taught them lessons, even more than the money they have lost.
‎Lately I have noticed few things about Bitcoin, which I have come to conclude that Bitcoin have three categories, which is, financial mistakes, emotional mistakes, and technical mistake, which no one can say they have not experienced any of this categories listed out here.
‎Here are some common mistakes that we experienced that have teaches us lesson:
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‎1. Buying out of fear missing out: Do you know that some people rush into Bitcoin when the price has gone up, just because others are making money, then when the price falls they will end up panicking, never you invest because of hype, understand everything in details before you invest.
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‎2. Losing seed phrase or private keys: this is the most painful thing that will ever happen to any investor, don't ever forget to store your seed phrase in a secure place to avoid lost.
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‎3. Falling for scams and fake investment platforms: this is where many people fall victim of, Bitcoin doesn't grow overnight, if it's sounds too good please run for your life.
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‎4. Listening to the wrong advice: Don't pay any attention to any influencers, or close friends, do more research, study Bitcoin and know how it works before investment, don't depend on anybody's prediction.

[SatoPrincess]

‎1. Buying out of fear missing out: Do you know that some people rush into Bitcoin when the price has gone up, just because others are making money, then when the price falls they will end up panicking, never you invest because of hype, understand everything in details before you invest.
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I think that this can sometimes be a kind of a gray area because if you fomo and buy bitcoin even at the top and you’re able to hodl your coins long enough you would be in profit. This can only work for you if you don’t panic and sell early.

[Donk1]

​You can't judge based on your beliefs because Bitcoin is predictable, but then it's not something you can easily predict. Even at that the experience of every crypto enthusiast varies a lot so you shouldn't jump to conclusions by saying anyone who says Bitcoin is predictable is a liar and they have all made mistakes. You aren't with them bro.

​That said yeah most Bitcoin enthusiasts tend to have made mistakes, most especially the newbies. But then mistakes isn't a compulsory something, so yeah I can still believe that there are some out there that learn from others mistakes. Moreover  as Bitcoin enthusiasts it's said that we must be very careful.​well that said the common mistakes you listed are true and there are many more like influencers, fake news, and so on. Overall op you should know that every Bitcoin enthusiast is different, both in knowledge, financially, emotionally, and technically. That's just it bro we all have our ways as crypto enthusiasts.......

[Hatchy]

‎Lately I have noticed few things about Bitcoin, which I have come to conclude that Bitcoin have three categories, which is, financial mistakes, emotional mistakes, and technical mistake, which no one can say they have not experienced any of this categories listed out here.

These are not mistakes, they are the areas in the market where one has to try and be specialised on. Though it's not as easy as it sounds but knowing how to control and manage your finances, understanding your emotions and mastering the technical aspects of the market makes you a better version of how you see the market. Most new investors don't know how to control their emotions. They panic unnecessarily during uncertain market conditions. This results in them taking wrong decisions that puts their investments at risk. You must be able to avoid certain kind of investment mistakes to balance you profitablity in the market and control your wealth as well..

[BIT-BENDER]

‎1. Buying out of fear missing out: Do you know that some people rush into Bitcoin when the price has gone up, just because others are making money, then when the price falls they will end up panicking, never you invest because of hype, understand everything in details before you invest.
‎
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I think that this can sometimes be a kind of a gray area because if you fomo and buy bitcoin even at the top and you’re able to hodl your coins long enough you would be in profit. This can only work for you if you don’t panic and sell early.

Well you are making Sense but it will mostly apply to Bitcoin. I think it is not completely a bad thing to have fear of missing out on Bitcoin because the next best time to buy Bitcoin is now but the problem is that people who buy Bitcoin because of fear of missing out have a good chance of selling Bitcoin all in the name of fear, uncertainty and despair.
Best thing to do is buy Bitcoin based of that you have done your research and made your educated decision.

[Ndabagi01]

‎1. Buying out of fear missing out: Do you know that some people rush into Bitcoin when the price has gone up, just because others are making money, then when the price falls they will end up panicking, never you invest because of hype, understand everything in details before you invest.

Fear of Missing Out happens mostly in alternate cryptocurrencies more than it does in Bitcoin. FOMO happens mostly because people are in need of quick money and they rush into the investment thinking that they’ll make quick money when they see people already cashing out that got in early. Most altcoins especially memecoins are all hypes and one should be very careful with them.‎
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‎3. Falling for scams and fake investment platforms: this is where many people fall victim of, Bitcoin doesn't grow overnight, if it's sounds too good please run for your life.

It it happens overnight, then it’s not worth it and should be avoided. Bitcoin investment doesn’t grow overnight and takes a lot of time before reaching profitability state. We should try and make research about bitcoin, because it is a very transparent asset to invest into. Don’t fall for the tricks, scams and possibly fake influencers that want to make money from you thinking that you’ll make it overnight or within a short time.

[Creeper0]

I don't see anything wrong here. These mistakes are very rare in the Bitcoin journey if you invest with a long-term investment plan. Make sure you are not trading, if you are not trading then why rush to buy? Why panic during the decline? Since you are investing for the long term and trying to be consistent, buy regularly and hold depending on your ability.

Not saving the seed phrase or forgetting to save it or neglecting the seed phrase is a habit of new investors, which can sometimes cause them losses. But I have heard of very few such cases. Because everyone is aware of the wealth.

[Marykeller]

I go by the words of Bit-Bender that nothing bad of having the fear of missing out in Bitcoin, if you have it at the back of your mind that Bitcoin will someday skyrocket higher than the price you bought it at.

However, what I found out to be the mistake of most investors is that they choose to have FOMO on altcoins, because they learn it to give them maximum profits within a short term, compared to Bitcoin that whose profits are long term.

[Kelward]

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‎2. Losing seed phrase or private keys: this is the most painful thing that will ever happen to any investor, don't ever forget to store your seed phrase in a secure place to avoid lost.
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My biggest mistake was being careless with my first seed phrase, when I opened my first Bitcoin wallet, I didn't know the importance of seed phrase and I casually wrote the words on a sheet of paper. Anyway the phone where I created the coinomi wallet got stolen and when I bought another phone I tried to import the seed phrase after downloading coinomi wallet but it never matched. I still have the 24 word seed phrase till today. It's either that I made a mistake and missed some words or the fault is from coinomi, anyway it was a painful experience. I've learnt my bitter lesson and after that unfortunate experience I'm always extra careful about seed phrase.

[justinlamode]

The biggest mistake most of us have made and will always make in Bitcoin is not to hold. A lot of us still see holding as something not possible even when we have been active in the forum for long and have see how great it is to hold for long. Assuming some of us started holding Bitcoin from the time we first got our first Bitcoin, dome would have been financially free by now, but it is always a myth to some people regarding holding which is why we are not able to return the Bitcoin that pass through us.

[Su-asa]

The rate at which people listen to wrong advice when it comes to the crypto space thesedays is much because there are lots of people online trying by scam crypto beginners through social media. They send wrung informations /advice to to people, stories that look too good to be true so that they will be victimized. That is why we have a lot of crypto scam victims everywhere.

As for me the thing way I regret mostly nah say I no buy Bitcoin when I first hear am, and funny enough we plenty way do the same thing, but as a matter of facts, make we just focus on the future because if we forget about dis type of mistake e go help us achieve a lot from the crypto space instead of to dey regret

[Rhow]

Well you are making Sense but it will mostly apply to Bitcoin. I think it is not completely a bad thing to have fear of missing out on Bitcoin because the next best time to buy Bitcoin is now but the problem is that people who buy Bitcoin because of fear of missing out have a good chance of selling Bitcoin all in the name of fear, uncertainty and despair.
Best thing to do is buy Bitcoin based of that you have done your research and made your educated decision.

I agree with you. Nowadays, newbies want to be experts in something without learning anything. As a result, they cannot handle reality.

The same is true when it comes to investing in Bitcoin. Newbies start investing without thinking about anything. They start investing without doing any research on how to maintain the investment in the future, how long to invest, etc. They do not know what to do after investing. They consider investing based on emotions as success. They invest with emotions and then sell them with emotions after a few days.

[Pi-network314159]

The 2 mistake I have made that I keep regretting in cryptocurrency is that I bought A lot of shitcoin with a reasonable amount of money and hoping it could boom one day like Bitcoin not knowing the principle of the market or what shitcoin represen,  that it has no liquidity and no good market capitalization and no investors to adopt them. And later they all disappeared one after the oder.

Secondly I sent trx to a wrong address till today it is not reversible. It has lost forever. So that case made me to be extra careful in any transactions I do to avoid such an expensive mistake again.

[VivaMan]

(OP) Thank you very much for this topic. Well I have failed to really understand that I should invest what I can afford to loose. That alone has set me back to an extent that I nearly give up on Bitcoin investment, them I realized that it is all about rick taking and investing what you can afford to lose, knowing when to trade and when not, ever since then things has been going well for me when it comes to investment on Bitcoin.

[Yorubek]

Before starting to invest in Bitcoin, it is very important to gain knowledge about Bitcoin. A responsible investor gains specific knowledge about where he is investing his money. Investing in Bitcoin does not make you rich overnight, it is a long-term investment system. The price of Bitcoin fluctuates rapidly, so it is not a matter of disappointment if the price temporarily falls, at that time we have to buy Bitcoin with confidence and hold it patiently, waiting for the right time, as a result we can achieve success. We have to store our wallet pass key responsibly. We have to remember that not having our own wallet pass key means we have nothing but zero, so we have to store the pass key very carefully. Buy more Bitcoin with confidence and by holding it for the long term, it is possible to achieve success in the future.

[IceLincoln]

​You can't judge based on your beliefs because Bitcoin is predictable, but then it's not something you can easily predict. Even at that the experience of every crypto enthusiast varies a lot so you shouldn't jump to conclusions by saying anyone who says Bitcoin is predictable is a liar and they have all made mistakes. You aren't with them bro.

My brother one question for you, U fit predict bitcoin? Or you know anybody wey fit predict bitcoin. Or maybe you know really know the meaning of the word. Wetin you think say people Dey do na Speculation, iftosay people fit predict bitcoin the kind of pump and dip you for Dey see for market no go be here. Even all this big companies wey Dey buy big using DCA (like Strategy) nogo Dey do am, them go jus wait before that time the price go start to pump, lump sum Wetin no good.

Bitcoin is highly unpredictable, we can only attempt to just like you do with predicting live scores of football matches, you just do a calculated or educated guess or whatever they call it and if you’re lucky you get it or get close or Not. You nogo fit talk say you don predict am correctly and e sure. Na so e be with bitcoin, u fit try predict  the trends but never the price.