Five common mistakes made by Bitcoin users - page 2.

kukurikapu

member

Activity: 134

Merit: 18

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

Surely, this thread will definitely help newbies in this cryptoworld. But, i think it is good also for them to experience such mistakes for them to realize and learn from their own mistakes.

shesheboy

full member

Activity: 714

Merit: 114

Quote from: darewaller on July 28, 2018, 06:11:41 AM

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

I can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD. Only someone that is very stupid, my money can’t go like that I’m always careful.

The only mistake I ever made, and that was as a newbie, was not backing up my wallet but I later realized how bad it would be, although nothing bad happened. I don’t buy and sell based on feelings, it does happen sometimes but I have learnt to control myself.

Quote

I can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD

Yes it does happen and ive already see a lot of people having this issue . some of them do have lots of btc in their wallet before they lost it and mostly it happen because they dont realize the importance of bitcoin , they think bitcoim is only worth a penny back on its old days and now after they found out the real worth of bitcoin , it is already too late for them to recover thier old wallet because they already forget their password and private keys . too bad for those guys .

megasynk

newbie

Activity: 69

Merit: 0

6. buying some hypeshitmlmcoin

darewaller

hero member

Activity: 2926

Merit: 640

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

I can’t even imagine someone with lots of Bitcoin in their wallet that is worth a good amount of money saying they forgot the password to their wallet lolXD. Only someone that is very stupid, my money can’t go like that I’m always careful.

The only mistake I ever made, and that was as a newbie, was not backing up my wallet but I later realized how bad it would be, although nothing bad happened. I don’t buy and sell based on feelings, it does happen sometimes but I have learnt to control myself.

Ezenwanyi

copper member

Activity: 336

Merit: 1

Greediness.
Not saving ones password very well, which has caused many untold pains.
Failure to back up wallets.
Not activating 2fa authentication.
Reluctancy in learning the basics about bitcoin before jumping in to invest.

Farhan786

member

Activity: 308

Merit: 10

Five common mistakes made by Bitcoin users:
1. Sending to the wrong crypto-wallet in an exchange
2. Not holding your private keys
3. Failing to find a good community/s to learn from
4. Not keeping hard copies of everything
5. Not using 2fa or saving records of the code

kasurnya

newbie

Activity: 152

Merit: 0

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

and another one, do not be greedy.
get profit in accordance with the capital do not expect huge profits by using small capital.

Bakemat

sr. member

Activity: 779

Merit: 250

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

In my own opinion, most of the traders today are just selling and investing based on the hype in the market and those amateurs are selling their coins depending on their emotions which makes them to lose their investments.

Ekimzjames20

member

Activity: 348

Merit: 10

Quote from: ?? on ??

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

As I observed the most common mistakes that we committed is trusting a person whom we dont even know yet.

I agree with this 5 common mistakes specially in the newbie because they are not already know how to deal with it. But things much better you can learn your mistakes and be careful the second time around.

RDNX

member

Activity: 392

Merit: 11

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

All right, I know the meaning from 1-4 sentences, but I don't understand the number 5 sentences.
Honestly, I do a lot mistakes in number 4. Yeah, sometimes, I always trading based on my instinct.

Glorypaasa

full member

Activity: 420

Merit: 100

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

Yeah, that its true It happens to me before I forget to back up my wallet, I forget my password and I sell my bitcoin because my emotions controls me but Its a normal thing I've learned from my mistakes and I know what to do now.

mornabo

hero member

Activity: 1148

Merit: 504

Quote from: unEducated on June 01, 2018, 01:56:37 AM

One mistakes only make your world worst in crypto is you put your private key wallet address in public. Avoid this happen i'm sure you will regret it. Grin

Lol no one is going to do that stupid thing consciously, You know that private key is the most important thing in the wallet, so I'm not sure people will consciously put it in public, I think the stupid thing done by many users is put all the assets in 1 private key (wallet)

TraiKH

newbie

Activity: 207

Merit: 0

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

Yes, I agree with these factors. In addition, I think Psychology is unstable and hurried in decisions. Impatience is the case that any trader, users or investor has ever encountered. That is a valuable lesson in business. Most important is never give up hope with bitcoin and crypto. Investing in bitcoin and crypto is synonymous with a long-term plan that you must keep sticking and updating information.

CryptoGirl.y

sr. member

Activity: 631

Merit: 260

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

6. Started trading on the exchange with margin without experience

@prashant

hero member

Activity: 910

Merit: 505

Add one more thing which is the major mistake done by new trader,they run for airdrop irrespective of profit,they just want to get it even if it's only small portion,which majority of time lead to loosing their fund by the hand of scammers.

darefreads

full member

Activity: 518

Merit: 100

I agree with that common mistakes of a bitcoin user because I also do that kind of mistakes before even now I also made some of mistakes that you said that's why I wanted to removed that mistakes to make me a better user. I'm very careful now on how I will make decisions to agree or disagree for something I want to do to a good way.

Polkadott

jr. member

Activity: 125

Merit: 1

I want to add here save the pass phrase to change the password. Most people trade bitcoin as a short-term investment Most of the time we've seen bitcoin users also do a panic selling mistake

juragane

member

Activity: 476

Merit: 10

CAT.EX Exchange

I think the mistake is very common and reasonable if it happens because the new players are not known about this kind of thing, with this hopefully many new players who can be better.

jovs

sr. member

Activity: 672

Merit: 250

Having a mistake is always possible unless we have enough experience in the world of crypto. It is quite normal to made mistake specially when we are new on a particular thing. Yet, we need to do our best for us to learn and to develop our skills so that in the future we could take a better decision in life and while investing in bitcoin and other crpytocurreny.

elkafee79

newbie

Activity: 122

Merit: 0

Quote from: Mr. Tan on August 30, 2017, 08:07:08 PM

1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor

Yes, I agree mate. Five common mistakes made by bitcoin user. I also do that.

Topic: Five common mistakes made by Bitcoin users - page 2. (Read 4200 times)