Bitcoin mistake and what Nigerians can learn from it.

[odunybiz]

In the crypto space, alot of mistakes do happens to individuals. Even an expert isn't an exception here. Even after knowing alot of security measures, mistakes can still happens. As the year is running to an end, I will like us to share our personal mistakes this year and how you have manage such mistakes after its happens so that other Nigerians can learn from it.

[Dr.Bitcoin_Strange]

If you have the desire to become a trader (derivative/futures), also have the desire to hold and keep accumulating more Bitcoin. Never use all your Bitcoin holding for future trading. What I mean is, let's assume you are holding 0.2 Bitcoin and you started trading and because  you are not making much profit, you keep on cashing out your Bitcoin holding and fueling your trading, don't do that. Instead of cashing out your Bitcoin holding because of your trading, do the opposite, let you trading profits go into buying more Bitcoin.

[Tetu100]

The only thing am not happy about even till date is for the fact that I joined the forum very late and I wasn't quick to know about Bitcoin in the early years, this has been a major challenge to me since I realized how Bitcoin was so affordable back then but anyway it is fine I thank God for everything. However For the few time am in the game have learned so much and am freaky happy and I just hope My bond step today will earn me some great in the nearest future.

[Dareo]

In my opinion, mistakes in crypto often come from greed and overconfidence, this year I thought I understood the market fairly well, so I took more risks on small projects. Later I realized that pretending to know is the most dangerous thing. Some coins were almost worthless, at this point I stopped completely and wrote down my mistakes. I noticed why I made certain decisions, where emotions played a role. Then I stayed away from trading for a few days and just watched the market, It gave me a cool head. Mistakes don't mean the end. How you handle yourself after those mistakes makes the real difference.

[SOKO-DEKE]

Honestly, nobody is above mistakes, and that is true. Someone may be a mentor and still make some mistakes. I have been in the forum for a while despite it not being that long, I have learned a lot. I have also been advising people that they should stay away from altcoins, especially new projects, because that is where scams take place. They should only invest in Bitcoin, and even if they want to try altcoins, it should be with a small amount of money. They should only invest in reputable altcoins those that have been in the market for a while and have a good record.

But this year, I made a wrong decision to invest some amount of money in some new projects and that is how I lost some percentage of my investment. So, I see it as a mistake, because I have been warning some people especially newbies to stay away from qltcoin especially new projects.

[Moreno233]

In the crypto space, alot of mistakes do happens to individuals. Even an expert isn't an exception here. Even after knowing alot of security measures, mistakes can still happens. As the year is running to an end, I will like us to share our personal mistakes this year and how you have manage such mistakes after its happens so that other Nigerians can learn from it.

Just like the saying goes, "no one is above mistake", such is true for Bitcoin as mistakes are possible and the best to do is to learn from them and do better in our Bitcoin investment. My major mistake this year was not holding up to at least 80% of my Bitcoin portfolio. There were times I have to sell some because of the market reluctance to seek new highs and the year was already running. I consider those sells mistakes because I never really had any need of those funds and I made very fast decisions which I can characterize as FOMO. All I could do was to just console myself and accept those actions as part of the learning process since I can not change the past. It is never good to sell because you feel others are taking profits and you don't want to be left behind.

[Fiatless]

In the crypto space, alot of mistakes do happens to individuals. Even an expert isn't an exception here. Even after knowing alot of security measures, mistakes can still happens. As the year is running to an end, I will like us to share our personal mistakes this year and how you have manage such mistakes after its happens so that other Nigerians can learn from it.

Releasing my coin to a trader in an exchange without confirming that he had paid was my biggest mistake. My bank was having issues that I couldn't check my balance with my ATM or app. My account officer's phone was switched off. I was very far from a physical bank and the trader was on my neck. He kept disturbing and showing the debit alert, so I had to take the risk and release the coins.

Although he paid me completely, it was a very big mistake. I don't encourage anyone to release any asset out of a blind trust. It is important to confirm that the money has been reflected in your account before releasing the asset.

[Agbamoni]

One mistake I made this year, which can happen to anyone, is using the paste icon when trying to input my Bitcoin address in my wallet. I lost my Bitcoin because my device was infected with malware, which changed the receiving address I had already copied when I clicked the paste icon.

That is, if I am sending a coin out, dont tap on the paste icon; instead, click on the input field and paste your address.

[Olotu20]

One mistake I made this year, which can happen to anyone, is using the paste icon when trying to input my Bitcoin address in my wallet. I lost my Bitcoin because my device was infected with malware, which changed the receiving address I had already copied when I clicked the paste icon.

That is, if I am sending a coin out, dont tap on the paste icon; instead, click on the input field and paste your address.

Waoo just getting to know of this that, when your device is infested with malware it can actually changed the wall address you intend to send your Bitcoin. This will be painful knowing that it was not from you but a mechanical faults but going forward it's Left for everyone to learn especially we that are new comes to the Bitcoin community. It's evident that we should always check the address that, we intend to send our coins to because when once you send your Bitcoin it's gone and can't be reserved back.

[Sobz]

One of the mistake we normally have is when we get some level of knowledge we just assume that it is enough and at this point learning stops. In cryptocurency learning is continous and it is everyday. The dau you stop learning is the day you stop knowing and scammers learn everyday on how they can get to someone.