Topic: 10 main mistakes of Bitcoin newbies - page 4. (Read 20901 times)
Near "Keeping money on exchange sites and coinbase" I would add to diversify with few wallets or create few cold wallets and ALWAYS use 2FA
I think newbies get attracted to bitcoin because they think of it as "get rich quick scheme" but then they lose it all. If you do your research, you can save yourselves lot of headache later on. Every question regarding bitcoin has been answered so newbies shouldn't have any trouble at all.
Maybe and that is a mistake because that is not true, when we hear successful stories we like to have such success and want it easily.But, we will be tested once we are in the actual situation because making money is not as easy as we think, now if we can accept that
reality and be able to improve our skills and will mature, maybe we will have a chance in the future.
Wow, thanks for this article! Really helped me as a newbie. I think that others, even old users of cryptocurrency/Bitcoin can still use this article and learn from it. Thank you for adding to my knowledge on Bitcoin. I hope to be able to use it wisely. I'm still constantly learning because I wish to invest on Bitcoin someday so I want to fully understand it. Kudos!
To me at least the biggest mistake is people storing coins on exchanges. Most people don't remember Mt Gox anymore even though it was recent enough. Probably because there's so many people that got in to bitcoin after this shambles 
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
True, Gox seems like an ancient legend from a distant past by now. Let's hope we don't get a modern equivalent any time soon.
To me at least the biggest mistake is people storing coins on exchanges. Most people don't remember Mt Gox anymore even though it was recent enough. Probably because there's so many people that got in to bitcoin after this shambles
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
True, Gox seems like an ancient legend from a distant past by now. Let's hope we don't get a modern equivalent any time soon.
To me at least the biggest mistake is people storing coins on exchanges. Most people don't remember Mt Gox anymore even though it was recent enough. Probably because there's so many people that got in to bitcoin after this shambles
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
Hardware wallets are actually affordable and easy enough to use now so there's no excuse.
I'd have to say one of the biggest ones that isn't mentioned here is going to have to be fees, most of the new people don't understand how fees work and all that which is going to make them do one of two things. Set a fee two low which is going to cause their TX to never be confirmed or just take an insane amount of time to be confirmed, OR just waste a ton of money getting a fee confirmed for too high of an amount.
Both are equally bad and I think this piece should've touched on it well, though besides that this hits on a good amount of the bases when it comes to things. May want to also tell people to avoid faucets, gambling, and so on and so forth if you catch my drift.
Both are equally bad and I think this piece should've touched on it well, though besides that this hits on a good amount of the bases when it comes to things. May want to also tell people to avoid faucets, gambling, and so on and so forth if you catch my drift.
I think newbies get attracted to bitcoin because they think of it as "get rich quick scheme" but then they lose it all. If you do your research, you can save yourselves lot of headache later on. Every question regarding bitcoin has been answered so newbies shouldn't have any trouble at all.
Mistake : simple those who are not patient and just sell of their btc when they think its crashing
This is the biggest mistake and time will teach them how to hold bitcoin and being rich with bitcoin. I think the second biggest mistake is that they do not very care about the private key. Private key is very important to bitcoin holder Mistake : simple those who are not patient and just sell of their btc when they think its crashing
It's because they are impatient. Newbie is always reckless in making decisions, for example when prices change quickly they will think to sell their bitcoin in the wrong position just because they panic and scare?
Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
As a newbie. it will help me a lot. Especially on how I will keep my bitcoin earned in the signature campaign. And also it give me knowledge in bitcoin, Honestly until now I am not totally familiar in bitcoin even though I know a few information about it, I actually want to learn or understand how to invest, sell or trade using bitcoin. So I am looking forward to learn more in this article.
But sometimes its not bad to have mistakes because you can learn from it, so next time you elude to happen it again.
In that case of learnings from your mistakes, let me say about the scenario of a work you are involve with like a job that's worth a million dollar fiat, and you needed to obtain safe work to avoid failure of quality but suddenly you did worst failure then made the work unsuccessful. So to make a clear understanding of that $1m dollar failure is very expensive if we take it as a lesson from a mistakes. Actually when a newbie hits the wrong decisions of investing huge amout at mining ponzis, I think that the same mistakes comitted like the scenario of $1m dollar failure which is costly.
Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
As a newbie. it will help me a lot. Especially on how I will keep my bitcoin earned in the signature campaign. And also it give me knowledge in bitcoin, Honestly until now I am not totally familiar in bitcoin even though I know a few information about it, I actually want to learn or understand how to invest, sell or trade using bitcoin. So I am looking forward to learn more in this article.
But sometimes its not bad to have mistakes because you can learn from it, so next time you elude to happen it again.
Mistake : simple those who are not patient and just sell of their btc when they think its crashing
It's because they are impatient. Newbie is always reckless in making decisions, for example when prices change quickly they will think to sell their bitcoin in the wrong position just because they panic and scare?Mistake : simple those who are not patient and just sell of their btc when they think its crashing
Open just the price down newbie will panic. They will also panic selling when prices rise. I think not just newbie but other users like me. Impatient is the most influential thing why they can panic and sell their bitcoin
I never had this experience when I was new in the trade and I made the wrong decision in many times. But know I think I learned a lot from my mistakes so I thought I could keep one of my errors.
This is why when you start your trading career is the most important thing to do, is to start with a small amount of money even if you make mistakes, you don't lose too much money and the most important thing is you will learn some of the lessons that will be useful to You in the future. so you no do the same mistakes, give the right decision
That's it, always start small and never go all in. Mistakes will happen when you jump into something new, even if you have been reading threads on forums for months - but at least they will give us a good lessonThis is why when you start your trading career is the most important thing to do, is to start with a small amount of money even if you make mistakes, you don't lose too much money and the most important thing is you will learn some of the lessons that will be useful to You in the future. so you no do the same mistakes, give the right decision
Agree! If you do not experience all of those things then maybe you will not look for another ways to get back all the losses you had. As for me I am one lucky person to have a great friend who's been guiding me in my journey with bitcoin he told me not to invest with ponzi and hyip scheme because it will only take my money in the end.
Maybe the first mistake is wrong word for newbie, Many newbie bitcoin finally get scammed by bitcoin based scam / hyip / ponzi / doubler.
Because the newbie is usually very easy in lure with something profitable when the risk is very large. And newbies never consider the risks so they casually invest in ponzi scam
Yes and as rule for myself, I will never join any hyip, doubler, ponzis and matrix program no matter how well they brand themselves and no matter the good things people say about them.
Keep bitcoins in exchange.
Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.
Lose the bitcoins when the exchange collapses.
10/10 would lose money again
Very few newbies encounter such a issue. The reason is that a small number of newbies take part into trading at the early days of being into bitcoin. Most of the users get trapped into the scam where people attract newbies with big multiplication schemes. Another thing is trying to be rich through gambling and losing big.Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.
Lose the bitcoins when the exchange collapses.
10/10 would lose money again
They don't trade, just use the exchanges as wallet
Thanks for the article! I'll definitely be using this in the future.
Keep bitcoins in exchange.
Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.
Lose the bitcoins when the exchange collapses.
10/10 would lose money again
Very few newbies encounter such a issue. The reason is that a small number of newbies take part into trading at the early days of being into bitcoin. Most of the users get trapped into the scam where people attract newbies with big multiplication schemes. Another thing is trying to be rich through gambling and losing big. Ignore all the signs that the exchange has problems and might be a good idea withdraw all the funds from there.
Lose the bitcoins when the exchange collapses.
10/10 would lose money again
Even seasoned Bitcoiners can make mistakes all the time. This is an experimental phase for both Bitcoin and Altcoins and we are learning new things every day. I still make mistakes even though I am in this business now for nearly two years but only very part time at present due to time constraints.
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