How People Lose Bitcoin & How to Avoid Costly Mistakes.

[VivaMan]

Bitcoin is the best platform to invest your funds without regrets..so many people way dey around the world dey they think say  Bitcoin dey risky, Yes it is but to an extent it's not the way we see it, but in reality sometimes losses occur, due to unnecessary mistakes that's happens. I want to analyze some  mistakes one see as common but causes lose and how you can briefly avoid them without stress, it's included:
1. E get watin we dey call private keys/ seed phrase, this two things dey very important, when you just forget this things or key's, your device will get lost immediately and remember no backup at all.
*How to avoid such lost

Make sure say you write your seed phrase somewhere way you no go easily forget am, and safety tips ... Don't share or tell anyone.
2.Storing Bitcoin exchanges

Do you know that exchange can shutdown, meanwhile the users go lose access to collect money which will cause regret and pains to the user.
How to avoid this :
Try make you move your money's to your personal wallet, not forget your keys.
3. Mistakenly sending to Wrong wallet address

This mistake is common to every user because it happens everyday, humans are bound to make mistakes, no one is above that , which is certain.
How to avoid this:
Try as much you get the correct wallet address, properly review it before sending funds.
4. Failed security review:

User sharing and exposing passwords to everyone
It can cause this as well,
How to avoid this
Try to keep your passwords private.
5.Many not understanding how Bitcoin works

Due to lack of information about Bitcoin it can cause alot of mistakes, because you don't have a proper knowledge of how it works..
How to avoid it: have a knowledge of Bitcoin by investors
In conclusion
Bitcoin is unpredictable,
Try to keep your passwords to yourself and it will help you alot to avoid scams.
Most Bitcoin losses are preventable take note.

[Agbamoni]

Bitcoin is the best platform to invest your funds without regrets..so many people way dey around the world dey they think say  Bitcoin dey risky, Yes it is but to an extent it's not the way we see it, but in reality sometimes losses occur, due to unnecessary mistakes that's happens. I want to analyze some  mistakes one see as common but causes lose and how you can briefly avoid them without stress, it's included:

We shouldn't sugarcoat things. There is risk in all investments, including Bitcoin. Aside from making mistakes, the asset itself contributes to whether the investment will be successful or not. An investor cannot control how gold performs. In Bitcoin, we can't control the price swings, we watch how the price moves, and work in a direction that best fits our investment goal and our capital.

[Mate2237]

Storing your coins in an exchange is one thing that should be discouraged, because it's not a very good practice storing your coins on an exchange, when you store your coins on an exchange the truth is that you don't have full control over your coins. The exchange can short down or even lock your funds all in the name of KYC verification. Storing your coins on a cold wallet should be encouraged over exchanges.



Sending your bitcoin to a wrong address is one mistake that happens sometimes. But this can be avoided through double checking of the wallet address. Because when you send your Bitcoin to the wrong address it will be difficult for you to get your Bitcoin back.

[Jubilee58]

In every business we venture into their is risk, and even though bitcoin is a lucrative asset, it is associated with risk too. There are many ways investors can loose their bitcoin investment. Some are investors fault and some also are the fault of the platform which they are using. At first avoid using exchanges to store your bitcoin, doing that is a way of exposing it to big risk, if their is an attack on the exchange, possibly your investment will be affected.
Another way one can loose his or her bitcoin is through trading, unprofessional traders can loose their investment within a short period of time in quest for quick profit which eventually leads to lost of investment.

As a Bitcoin investor, avoid town crying about your investment. Remain secretive while your investment grows. Telling people about your investment will expose you to more danger. You can be attacked or even be robbed because you have exposed yourself to criminals.

[Callido]

All you mentioned is quite the obvious, in detail and in short, everybody ready to invest in Bitcoin should do well to have a good insight of what they are about getting involved into, Bitcoin is not where you try your luck, not knowing how to secure or protect your Bitcoin isn't an excuse if the worse happens, it is better to learn from others experience and mistakes, rather than becoming a victim.

[Karl_3000]

You need to edit the post and make some corrections in how your structured the post.

Try make you move your money's to your personal wallet, not forget your keys.

What is a personal wallet? It is better you let people know that it is not a custodial wallet but a self-custody wallet which you will have the seed phrase or the private key of the wallet.

Bitcoin is unpredictable

This is not for people that are holding bitcoin.

[Livingleged]

Storing your coins in an exchange is one thing that should be discouraged, because it's not a very good practice storing your coins on an exchange, when you store your coins on an exchange the truth is that you don't have full control over your coins. The exchange can short down or even lock your funds all in the name of KYC verification. Storing your coins on a cold wallet should be encouraged over exchanges.

In a much as I agree with everything you’ve said about centralised exchanges not being safe to keep our bitcoin because of the third party involved, and that if by any chance anything goes wrong, we might lose our coin since we are not in total control of our wallet security, but we can not dispute the fact that it has made our bitcoin transaction way easier than the non non centralised exchanges.

Sending your bitcoin to a wrong address is one mistake that happens sometimes. But this can be avoided through double checking of the wallet address. Because when you send your Bitcoin to the wrong address it will be difficult for you to get your Bitcoin back.

I have always said it that double checking address before confirming transactions cannot be over emphasised you will not realize how little mistake can make you lose your coin and you possibly will not be able to get them back. I had made a post here earlier about my friend who copied an address from his history and did a transaction which he was unable to trace the owner of the address and that was how he lost those coin.all this little mistake are avoidable if you are careful and patient enough to do the necessary checks.

[Solodoski]

All you mentioned is quite the obvious, in detail and in short, everybody ready to invest in Bitcoin should do well to have a good insight of what they are about getting involved into, Bitcoin is not where you try your luck, not knowing how to secure or protect your Bitcoin isn't an excuse if the worse happens, it is better to learn from others experience and mistakes, rather than becoming a victim.

Preparation is very important. Without preparation if you start something for the first time, things will go wrong unless luck is on your side. Preparation is the first step you make to assure those mistake people have made you wont make them on your own journey. I agree with you on Bitcoin is not a lucky game. It is not like gambling because the effort, the commitment, the strategy and consistency will show good result When the input is good the output is always better.