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Author Topic: What is the biggest mistakes most bitcoin beginners make which isn't talk about  (Read 40 times)
HMb1996 (OP)
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Today at 05:19:28 AM
 #1

When ever a newbie in the crypto space ask for advice the common warnings always revolves around
scams phishing keeping seed phrases safe and not leaving coins hanging on exchanges
While these listed above are important i want to know about mistakes that does not get discussed as often
Hypnotizer
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Today at 05:37:29 AM
 #2

There are a lot and it’d be better if you read the pinned thread in this section (beginners and help) and I’ll recommend reading through this thread, What should you know before recommending Bitcoin to a friend? by d5000 because it will be of much help to what you’re trying to understand.

The most common mistake that isn’t that much discussion imo is the value of knowledge in this space, phishing scams, lack of safekeeping seed phrases and others all comes down to lack of enough knowledge and that’s why I’d emphasize on understanding what you’re getting into very well especially if you’re going to keep the custody of your holdings.

It’s like…Self Custody=Financial sovereignty=Responsibility=Awareness/Knowledge.

PostQuantumBTC
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Today at 06:50:42 AM
 #3

The one that I can say is that they can be thinking they can make money money through trading and use it to invest in bitcoin so that they can make higher profit, but this is just a deceitful thinking. When they start to trade, they will lose all their money and have no money to invest in bitcoin.

Another mistake are the bad projects, beginners may find it hard to know good projects. The bad projects find it easy in locating the newbies because they lack experience.
Somegory
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Today at 07:24:13 AM
 #4

Every scams available in crypto have been discussed here, trust me, there is nothing new out there that you won't find here too, my advice is get used to using that search engine on your top right every time.

Some less discussed scams like fake exchanges, shady mining or fake mixing schemes looks like they are less discussed because scams are getting advanced every time, they evolve into more confusing scam strategies.

Be cautious and curious before taking any steps in crypto space, it will only take a minute of your time to ask questions on this forum and have someone answer you.

avp2306
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Today at 08:13:51 AM
 #5

When ever a newbie in the crypto space ask for advice the common warnings always revolves around
scams phishing keeping seed phrases safe and not leaving coins hanging on exchanges
While these listed above are important i want to know about mistakes that does not get discussed as often


Common mistakes done by newbies is they usually dive in on investment without even spending some time to research, they usually believe on those people claiming that if they go invest with what they recommend same with them they can also earn big profits.

That usual trap made newbies became a scam victim that's why aside from searching on investment you should check the background of the program also those people promote it.

There are also lots of scam tokens in the market and better don't go on current popular altcoins. Much better to a research again before deciding to invest since there are lots of pump and dumps token in the market.

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