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Topic: Five common mistakes made by Bitcoin users - page 4. (Read 4200 times)

hero member
Activity: 2408
Merit: 584
I think it is a very common and natural mistake because everyone must have a factor that can make forget because there are too many passwords, and not backing up the private key that is given to see the wallet used.
This is the common error these days for losing money in the world of crypto currencies. This is at the same time very silly mistake on the part of investors or holders and they cannot blame anyone for this since they have themselves created tough passwords for their accounts and their wallets. When you are dealing with multiple accounts, what my suggestion is having same password for all accounts.
newbie
Activity: 238
Merit: 0
Five common mistakes made by Bitcoin users:

1) Not planning Trades,

2) Not doing Research,

3) Investing more than they can afford to lose,

4) Not spreading position,

5) Over-trading.
full member
Activity: 476
Merit: 100
I think forgetting about passwords on wallets is really a deadly sin among us cryto currency investors. Next would be buying when the prices are at its peak, or selling when the price is at its lowest. Lastly it is when investing without even studying the coin they are investing on. I hope we learn from our mistakes.
member
Activity: 350
Merit: 11
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
Having only one BTC address, Not Using Two Factor Authentication on the web wallet is also a common mistake that often done by bitcoin users who look spele while very influential when the security of our wallet is less awake then reiko loss of bitcoin will be great.
full member
Activity: 280
Merit: 100
another mistake
instant buy instanst sell , panic when trading , never research about some web and the end its getting scammed
newbie
Activity: 126
Merit: 0
These are common mistakes for novice investors.
But I think it is necessary to put the BTC on the exchange because it can be traded! If you miss your trading time by placing BTC in your wallet, you will lose money because of this!
newbie
Activity: 154
Merit: 0
This is a great help or reminder for those who have not committed mistakes and for those who have already committed such mistakes. Thanks for the great post!
newbie
Activity: 168
Merit: 0
5 mistakes that we get involved in bitcoin is that we often forget about the account and loss of account, we often mistakenly keep the account address wallet and prive key code than we or Forgotten between items when joining the post
member
Activity: 686
Merit: 39
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 did some of those points when i was still new to bitcoin.
My other mistakes :
1. wasting times on faucet which is not worth the time.
2. leave most of my bitcoin on exchange (glad that i managed to move my bitcoin before the exchange went scam).
legendary
Activity: 1372
Merit: 1008
I would add that they became lazy if they didnt see a fruits right after few days passed, so dont know how to wait for an income.

common mistakes made by Bitcoin users:
1. It has only one BTC address.
2. Not using Fee.
3. Forgot to check the amount of the BALANCE sent and the amount of Fee.
4. Not using Two Factor Authentication on web wallet.
5. Store large amounts of BALES in web wallets and mobile wallets.
The 5 reasons you make are almost just about wallet only but you're right that almost all newbie are not really thinking about the safety of their wallets and not using 2FA in their wallets but that's very important for wallet security, that's the most urgent in your 5 reasons, otherwise it newbie ussualy keeps all the coins in 1 purse only, I think it would be very risky if your wallet is hacked..
sr. member
Activity: 1190
Merit: 250
Waste time on faucets (we all did
Collect dust and pay high fees on it
Leave coins in an exchange
Trust the wrong people and get
 Panic at a price correction
For now most users are too easy to panic because of getting negative news, this is what makes bitcoin prices continue to be corrected making it difficult to reach $ 10,000, but in general I'm sure that bitcoin prices immediately skyrocket.
newbie
Activity: 127
Merit: 0
You missed the most important:

#1 leave your money on an exchanger

Leave your money in the exchanger and then the exchanger goes bankrupt. What would you do if that happened?
newbie
Activity: 154
Merit: 0
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
The most common mistake a bitcoin user can not remember is the password of the account, wrong post and repetitive post, can not remember the password of the wallet, even remember the name of the account and misspelled and wrong.
sr. member
Activity: 840
Merit: 254
When I first started to know bitcoin and cryptocurrency, I forgot my private key. But luckily I just lost a bit of bitcoin in it. It was an experience that newbies should avoid. What makes me so upset is that investing in bitcoin will bring in a lot of income. Making money is not as easy as you think. Be smart in your way of making money.
It is a good thing that you have learned from it and you only lost a small amount of bitcoin, unfortunately not everyone is so lucky and there have been cases of people that lost a fortune in bitcoin back in the day and now that the price is so high they have lost tens of millions of dollars just because they did not protected their private key, so make always sure you have a backup just in case.
full member
Activity: 476
Merit: 100
I think it is a very common and natural mistake because everyone must have a factor that can make forget because there are too many passwords, and not backing up the private key that is given to see the wallet used.
full member
Activity: 253
Merit: 100
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
Almost all happened to me when im starting except number three. First i forget to copy my private then when i received my reward the problem is i dont have a chance to sell it. And also at the beginning i also dont back up my wallets. And lastly i sold my tokens even at low price i didnt think it will rise after a day.
member
Activity: 308
Merit: 10
I also know of this important mistake that people make, and that is leaving your money at an exchange for a long time without any immediate intention of transferring or trading. Your money could be at risk of hack attacks.
newbie
Activity: 56
Merit: 0
If they continue doing it and not learning by the lessons from that scenario, I think they will become such a failure of bitcoin profit seeking opportunity for now. I agree that storing your coins at your ethereum wallets can be safer if you try to do it long terms and avoid storing at trading sites so that you will not be stressed thinking about the growth of your funds.
newbie
Activity: 168
Merit: 0
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

This is true,  you have to be careful because bitcoin is money.  If you have a lot and you lost it,  you cannot have it back.  If you invested a lot on it, everyone should remember these five things listed above because it is indeed important.   Thanks for the tip and reminders.
newbie
Activity: 112
Merit: 0
Waste time on faucets (we all did
Collect dust and pay high fees on it
Leave coins in an exchange
Trust the wrong people and get
 Panic at a price correction
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