What is the biggest mistake new Bitcoin users make?

[SquirrelJulietGarden]

New investors make mistakes in Bitcoin investment but the best thing to do is to learn from those mistakes and move forward. Also, the mistakes that new investors make in Bitcoin investment are that they invest in Bitcoin only out of FOMO or the greed of getting rich quick without having proper knowledge about the market and technology, proof of this is that many people invest without acquiring proper knowledge, that is, without analyzing how the Bitcoin or cryptocurrency market works, and by seeing hype on social media.

It's easy to say than to do in practice because if new investors did made terrible mistakes, and lost all their capital that was used to buy bitcoin, how will they learn from that mistake and come back?

It's super hard for them to come back and not say, some of them will even make suicide when they feel hopeless while are unable to control their emotion and action.

Mistakes happen with everyone but we only can have second chances and other further chances to come back if we never use all money for anything. Mistakes, losses can come but if we maintain this principle of fund management, we will be able to use different splits of our capital for next times.

Investors must learn about Bitcoin wallets, custodial, non custodial, close source, open source, which wallets are good, and how to use wallets safely.
What are best Bitcoin wallets?
[LIST] Open source hardware wallets.
Bitcoin security guide.
How to keep your bitcoin secure?

[ruykeri]

The problem that most concerns me, and is quite ridiculous, is storing your passwords in a file and uploading it to any cloud storage service, even a well-known one. This is the most negative thing you can do. Use a cold storage or a decentralized wallet. Keep your passwords written down or recorded somewhere that no one but you can access. A file you won't lose, and you know it better than anyone.

Never save your passwords on your computer. Don't you dare!

yeah right! Keeping your passwords & seed phrases in any cloud based storage can put you and your investments in any danger. for any crypto investment, much better to invest in a reputable hardware wallet coz It keeps the private keys offline and isolated from internet connections which  reduces the risk of hacking incidents, malware functions and phishing attacks...I don’t think that simply writing down your passwords or seed phrase on a piece of paper is enough either. As we know, those written backups come with a differen risk as well, just like what if the notepad will lost, damaged or worst is burned? we never know what will going to happen so its better to be safe than sorry... for a crypto holdings, I’d recommend everyone to have atleast 2-3x backup plans, ideally stored in a separate and trusted locations.

I agree with you. Seed phrases back up should not be kept in whare that is at risk of hacking. But buying a hardware wallet does not make it safe. Hardware wallet keeps it separate from the online environment. But if seed phrase back up is done carelessly, then you can lose bitcoin even while having a hardware wallet. You said to write it on paper and keep a few back up, that can be a good enough way. But paper back up should also be kept in a safe enough place. If the holder has multiple apartments, then he can write the seed phrase in those apartments separately and store it. And if he has to write it in the phone, then a small paragraph or story can be written with the words in the seed phrase. Where the words are symbolized according to the serial, which only you will know that this is your seed phrase serially, even if someone sees that note, he will not be able to understand that you have hidden as a puzzle of the seed phrase here.

[PhilosopherKing]

The problem that most concerns me, and is quite ridiculous, is storing your passwords in a file and uploading it to any cloud storage service, even a well-known one. This is the most negative thing you can do. Use a cold storage or a decentralized wallet. Keep your passwords written down or recorded somewhere that no one but you can access. A file you won't lose, and you know it better than anyone.

Never save your passwords on your computer. Don't you dare!

The people that are guilty of this thing are those lots that are always seeking the ease and conveniency. For them it is very fast to quickly store there password on their computer or email. they are so less concerned to think of what can happened if another person get access to it.

Security is about person being cautious of things. And to be cautious at times requires person to sacrifice that little conveniency that they are enjoying. If protecting your password that is the key to accessing your bitcoin stash needs you to hide it in a place that isn't reacheable by anyone apart form you, then that extra effort stress should always be worth it.

A friend sometime ago gave me his phone to take some pictures. Scrolling through his gallery I saw screenshots of what look like seedphrases. That time I didn't know anything inside crypto so I didn't even care much about it. It is now I now realize how much danger that dude what putting himself into. Lots should quit seeking medicine after death. Meaning that they should do the necessary when they are supposed to. Always secure your bitcoin like you would your life.

[Powerjumboo]

I'm curious to hear from people who have been around Bitcoin for a while.
What do you think is the biggest mistake new Bitcoin users make, and what would you tell someone to do differently❓

It could be about security, self-custody, buying Bitcoin, scams, fees, or simply misunderstanding how Bitcoin works. What’s one mistake you made yourself when you were new that you wish you had avoided❓

I think hearing real experiences would be more useful than just reading general advice.

The mistake I made as a new Bitcoin user was that I started trading without gaining any trading experience in new situations and I lost money there. I would like to tell new Bitcoin investors and users that you who are new, must start trading after gaining some trading experience. It is not right to trade with little experience and as a newbie and if you do, then you should do it with a very small amount of money, because you should use money that you can use to keep yourself in good shape even if you lose the money you use. I used a little more money in new situations which I regretted a lot after losing. Also, I would like to highlight another point here and that is that you should not invest in altcoins other than Bitcoin in new situations.

[LUCKMCFLY]

Too many wants to be become quick rich this mentality also hit hard and never produce good results try to keep things on balance with having good mind for investment because slowly win race good instead of jumping quickly and have worst things few started with more then their sources this also increase panic while they needs emergency funds they have to sell their coins this also never make good end always done after having all your requirements filled.

Wanting to be rich isn't bad; it's chasing it and trying to do it quickly that leads to the most common mistakes we shouldn't make. I believe that for any good result, you must respect the time required for the process. If we want to get rich with BTC, it's possible, but we have to start now, with a small amount of money, and by activating the DCA method for BTC.

However, if we buy a portion of BTC and see the price drop, and then immediately withdraw out of fear, that's also a very common mistake, because everyone wants quick results. The best thing is to nurture the investment. If the price drops, it's wise to buy even a small portion of BTC. The results will be seen in the long term; you just have to have the conviction.

[Bitcoin.com97]

Going into Bitcoin with the mindset of getting rich quick , many newbie once they hear about Bitcoin something in them tells them how successful they will be within a short period not knowing that it doesn't works that way .

Secondly, keeping there seedpharse safe ,some don't know how important the seedpharse is so the tend do anyhow with it and often it  leads to regrets most times.

Mine is awareness ,it's good to carry out proper research and have some primary knowledge before going into Bitcoin investment and not be carried away with other people's story.