BTC red flag test

[Comeacross]

Make we do confession this sunday afternoon. I believe many of us don learn the hard way for this crypto. Let reflect on our past experience and have fun but at the same time others can learn from it.

When you first start your Bitcoin journey, which of these red flags don catch you before?

You can vote on the poll based on your experience and drop a brief explanation on wetin happen and how you take learn your lesson plus a brief advice for upcoming people.

1. Send BTC to wrong address. Your eyes go first blur because it's gone forever.
2. Lose your seed phrase. If you dey lucky, you fit later remember where you keep am but if you no remember, otilo. You no fit do factory reset or reach out to customer care for help.
3. Double your BTC scam. Ponzi na very popular thing for this our country. Only contended people no dey easily fall for this scam.
4. Pump after you sell at loss. E dey look like village people dey pursue you for this crypto. E go low if you buy, but if you sell e go begin dey pump.
5. Others. Choose this option if wetin you experience no dey among the options.
6. I never experienced any. It's either you be guru from day one with the help of good mentors by your side or you just dey start your journey.

The only thing wey I never experienced from the options na the first one. But I don experience the rest at some point. I don create wallet countless times because I dey misplaced the seed that time. The good thing be say na majorly empty wallets. E no go better for scammers ooo because dem go collect your sweat in attempt to get more coins. At some point, BTC Price dey use me catch cruise. If I sell today, price go fly the next day. If I rush buy again, e go begin dey drop. Na that time I realise say BTC na about patience and not gra gra.

[Coyster]

Believe it or not, i've never had any of that experience. I am a very meticulous guy and i joined the forum before i ever owned any sat, so i got to know what the dos and don'ts were and i had it enshrined in my consciousness.

Honestly, a lot of people make it seem like it is almost impossible to be in the network long enough without either losing money to scammers or through your own mistake. But that is not true and i wouldn't like newbies to have that kind of mindset. Of course you can use bitcoin without losing any of it to scammers or making a costly error.

If you prioritize knowledge and you're not greedy; then congratulations, you've successfully evaded 95% of potential scams.

[Freeveto]

Can we call these red flags? If you refer it to as red flag, it means things that are bad about bitcoin that will discourage others from investing or joining bitcoin investment, but what you explained are certain contortions that are caused by our respective errors which bitcoin have nothing to do with.

Sending BTC to the wrong address is a mistake some of us are doing due to ignorance, wr feel too lazy to double check bitcoin address before sending.
Securing your seed phrase is another thing we should do very well, we should make sure we keep it safe, losing it means we are careless, we didn’t keep it safe or something came up.
Pumping after selling is normal, but mostly for altcoins because for bitcoin, if you can be patient to hold, it will recover after the dip.

[Creeper0]

Although my story is funny, I want to share the incident. In the beginning, I did not save the seed phrase of any wallet. Rather, I used to open an account in the wallet and use it for transactions, while opening the wallet, I would take a picture with my phone to use the seed phrase and create an account. But I never saved the seed phrase at first. But the positive thing is, I always kept the wallets logged in and used them for regular transactions. Later, when I started investing and gaining knowledge about wallets, I learned about the importance of the seed phrase. You can say, I lacked basic knowledge about wallets at the beginning of my crypto journey.

The phenomenon of falling prices when buying and rising prices when selling still happens to most people. This can happen in long-term investments too, but it is not a cause of loss for them.

[Hypnotizer]

When you first start your Bitcoin journey, which of these red flags don catch you before?

Red flag? Let’s call it mistakes not red flags because if we’re taking about red flag then it has to be like the reason why you should trust bitcoin not invest in it.

Initially when I saw this thread I’d thought you’re talking about critics and then expatiating on the issues but seems like you got the wording wrong.

1. Send BTC to wrong address. Your eyes go first blur because it's gone forever.

E never happen to me Sha bcos I dey double-check or make I just say quadruple check address to make sure I’m sending to the right address, sometimes when I’m skeptical about the characters in the address sef, I might check them one after one just to confirm.

2. Lose your seed phrase. If you dey lucky, you fit later remember where you keep am but if you no remember, otilo. You no fit do factory reset or reach out to customer care for help.

That’s Bitcoin for you, you need to take full responsibility for everything wey you do…so you need to be cautious when doing anything in this space.

3. Double your BTC scam. Ponzi na very popular thing for this our country. Only contended people no dey easily fall for this scam.

Ponzi for crypto nah for people wey dey chase quick money/profit, as far say you put mind say you must make an for crypto then you go dey make wrong decisions and you fit fall for scams Sha.

6. I never experienced any. It's either you be guru from day one with the help of good mentors by your side or you just dey start your journey.

You fit escape all of these things if you really research and understand the basics before you begin the investment, eh no depend whether you get mentor or not.