Mistakes That Make You Poor Poor In Cryptocurrency

Sanugarid

full member

Activity: 1442

Merit: 153

★Bitvest.io★ Play Plinko or Invest!

Quote from: zeingrind777 on July 10, 2018, 04:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

All of these must be considered important. Backup key at the first place is one of the most important thing that you need to remember to make sure that all of your investment is safe. Creating a weak password should be avoided as much as possible cause it leads you to higher risk of being hacked. Trusting anyone that you just met and making a transaction with them can also be considered as a huge mistake in cryptocurrency cause it will definitely lead you to possible frauds and risks that will consume all of your current investments.

spike420211

sr. member

Activity: 1610

Merit: 372

Quote from: USBitcoinServices.Com on January 29, 2020, 03:10:16 PM

Cryptocurrency education is very basic for anyone willing to use cryptos. This is possible if people learn every day by themselves via youtube or anywhere on the web. first things first, write down all passwords, usernames, backup all of them in a hardware wallet with password protection, before sending crypto tx only send a small amount, if all goes fine then send the rest.

Before depositing crypto in a new wallet, test the password, pin and any other security measure, once you feel safe then send bigger amounts.
Don't keep big amounts in exchanges, unless they are decentralized.

If we are talking about dex exchanges, then there you do not hold your funds directly.

They are located on your wallet and are used to interact with the wallets of other users on this exchange.
Everything related to the above you can combine under one auspices called mindfulness.

In cryptocurrency, inattentive users lose money most of all due to the fact that they are in a hurry or someone is pushing them.

Saisher

full member

Activity: 2324

Merit: 175

Quote from: zeingrind777 on July 10, 2018, 04:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

I have not experienced any from the point listed here, I lose some money picking the wrong coin to invest, that was when ICO is in better shape and almost any crowdfunding there are worth investing, I was to late investing on these highly potential coin most that I got are shitcoins.

dvmmayowa

jr. member

Activity: 122

Merit: 1

Quote from: wildan88 on January 20, 2020, 09:22:52 AM

Quote from: ScamViruS on January 20, 2020, 07:39:22 AM

Most of the time people lose their money at altcoin. Most altcoin in this crypto market has virtually no use. These coins are made for pump dump and take people's hard earned money. Those who are just holding bitcoin are still winning. And they didn't lose money. When you combine the charts of Bitcoin and altcoin, you will understand what altcoin is intended for. So it goes without saying that altcoin has made people poor.

damn its truly true, I lost a lot of money on altcoins, but what has happened to date, its value has continued to decline. it's better to only hold bitcoin if you want to be rich.
but on the other hand, an altcoin which can provide more profits from the pump, it is better to take a moment in a short time than holding altcoin for a long time.

Exactly, someone once told me that if you want to get rich quick, altcoin is the best way and if you also want to get rekt as soon as possible, altcoins will also help you achieve that Grin

, nevertheless, we cannot neglect the big fact that there are still some worthy altcoins out there with real world solutions and applications.

dvmmayowa

jr. member

Activity: 122

Merit: 1

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Well said, some coins looks so promising even after ico/ieo and even gets listed on nice exchanges with good volumes only for the team to dump all their tokens caring less about what becomes of their supporters or community.
As much as experience is much needed to get involved in shitcoins, a little bit of luck is needed too because not all that glitters are gold even in this ecosysyem.

USBitcoinServices.Com

sr. member

Activity: 1666

Merit: 267

Earn bitcoins every hour, link below at signature.

Quote from: Barbut on January 31, 2020, 01:15:50 AM

Quote from: USBitcoinServices.Com on January 29, 2020, 03:10:16 PM

Cryptocurrency education is very basic for anyone willing to use cryptos. This is possible if people learn every day by themselves via youtube or anywhere on the web. first things first, write down all passwords, usernames, backup all of them in a hardware wallet with password protection, before sending crypto tx only send a small amount, if all goes fine then send the rest.

Before depositing crypto in a new wallet, test the password, pin and any other security measure, once you feel safe then send bigger amounts.
Don't keep big amounts in exchanges, unless they are decentralized.

Education is important, without education you can't make long term progress. Money is one of the most important things in our lives, and we earn money with our knowledge. With the knowledge, you will be able to earn, without it you can lose the money you have!
Cryptocurrencies are money, you can use them to pay for things, to have fun, to pay bills, or as an investment. Invest in education and you will have more chances to earn more money, without education you relay on yourself and your skills, which is better than to rely on luck.

Indeed, I agree with all that, And even better yet is self-education, with self-education people become free and independent of a teacher. Sel-education will improve people's life in many different areas, people with this self-education skill have more chances to make more money than the "normal" people that earn only with the education they got from school.

People with self-education are more oriented to solve problems in a faster way, they are more productive, and in a way, they are also leaders that may inspire others.

Barbut

hero member

Activity: 1694

Merit: 502

★Bitvest.io★ Play Plinko or Invest!

Quote from: USBitcoinServices.Com on January 29, 2020, 03:10:16 PM

Cryptocurrency education is very basic for anyone willing to use cryptos. This is possible if people learn every day by themselves via youtube or anywhere on the web. first things first, write down all passwords, usernames, backup all of them in a hardware wallet with password protection, before sending crypto tx only send a small amount, if all goes fine then send the rest.

Before depositing crypto in a new wallet, test the password, pin and any other security measure, once you feel safe then send bigger amounts.
Don't keep big amounts in exchanges, unless they are decentralized.

Education is important, without education you can't make long term progress. Money is one of the most important things in our lives, and we earn money with our knowledge. With the knowledge, you will be able to earn, without it you can lose the money you have!
Cryptocurrencies are money, you can use them to pay for things, to have fun, to pay bills, or as an investment. Invest in education and you will have more chances to earn more money, without education you relay on yourself and your skills, which is better than to rely on luck.

USBitcoinServices.Com

sr. member

Activity: 1666

Merit: 267

Earn bitcoins every hour, link below at signature.

Cryptocurrency education is very basic for anyone willing to use cryptos. This is possible if people learn every day by themselves via youtube or anywhere on the web. first things first, write down all passwords, usernames, backup all of them in a hardware wallet with password protection, before sending crypto tx only send a small amount, if all goes fine then send the rest.

Before depositing crypto in a new wallet, test the password, pin and any other security measure, once you feel safe then send bigger amounts.
Don't keep big amounts in exchanges, unless they are decentralized.

Kevondo

sr. member

Activity: 742

Merit: 251

Quote from: Webetcoins on January 28, 2020, 06:45:41 AM

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Bitcoin is the best and most trustable among all. All other crypto coins are not valuable and workable like Bitcoin. This is because of many reasons, one of the leading cause is the crime cases and frauds associate with these coins. Scammers use these coins for frauds as they cannot use Bitcoin due to its large value and huge security. If you want to avoid risks use Bitcoins other than all.

Very well said, Bitcoin is the safest among all in any category. Adopt Bitcoin for daily and long term both types of trading. All the other coins are not at stable position to work with them. May be with time they will gain improvement but still Bitcoin will remain best among all. you can also do this that make half of your investment in Bitcoin and the rest with some other coin the comparison will make you surprise.

doomistake

hero member

Activity: 1400

Merit: 571

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Exactly.

Greatest examples for that are those coins that we earned in 2017, where bounties was all hyped because of the good salary that everyone was getting back then, after those ICOs, all of the tokens are mostly also in hyped, but just like what you have said, they were only good for short term, and what's made thing's worst is the mindset "hodl", which is pure greediness in my opinion, that is the reason why we lost our profits that we should have been grabbed when it was already in front of us.

And I know that until now, there are still plenty of hodlers that is waiting for the day where we could all have the profits we've had way back then.

Webetcoins

hero member

Activity: 2100

Merit: 546

Leading Crypto Sports Betting & Casino Platform

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Bitcoin is the best and most trustable among all. All other crypto coins are not valuable and workable like Bitcoin. This is because of many reasons, one of the leading cause is the crime cases and frauds associate with these coins. Scammers use these coins for frauds as they cannot use Bitcoin due to its large value and huge security. If you want to avoid risks use Bitcoins other than all.

LUCKMCFLY

legendary

Activity: 2632

Merit: 1883

Leading Crypto Sports Betting & Casino Platform

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

~snip~

I agree with that point, it is notorious that when people decide to give their vote of confidence to Altcoin, the conditions must be ideal so that everything goes well, such as a Bitcoin laterality or even that BItcoin is in an uptrend, any fall Bitcoin radically affects Altcoin, making them bleed a lot.

Faxmate

sr. member

Activity: 1071

Merit: 253

Quote from: Mihaylovic on January 25, 2020, 10:26:45 AM

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Yes investors will have to be careful about investing their coin as minor mistake can give lose to investors. Mostly coins are having low value so if people will invest in valueless coin they will later cry for having it and the panic selling is also a mistake that investors often do which make them poor for selling their coins at lowest price.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Negotiation on January 25, 2020, 03:38:49 AM

Quote from: zeingrind777 on July 10, 2018, 04:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Thanks for the lovely suggestions I agree with you. We work unconsciously at work, and not having them I lose our investment and make us poor in cryptocurrency. For this reason, it is important to be careful about the work and look after the various places and then consider them.

In short, if you are careless you will lose your crypto currencies. Just like you take precautions while storing your fiat money at home , banks or credit / debits cards, same precautions you have to take while storing your bitcoins & altcoins. If you are lazy in securing your coins, you will end up being hacked.

Visbay

sr. member

Activity: 1236

Merit: 252

Quote from: Negotiation on January 25, 2020, 03:38:49 AM

Quote from: zeingrind777 on July 10, 2018, 04:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Thanks for the lovely suggestions I agree with you. We work unconsciously at work, and not having them I lose our investment and make us poor in cryptocurrency. For this reason, it is important to be careful about the work and look after the various places and then consider them.

Lack of concentration in investments makes us poor and it makes us worried when the market falls and we lose Chance to sell high. People often get busy and don't pay attention to market changes so this kind of mistake can make a good investor poor for taking wrong decisions in investment and selling at panic is the worst one mistake, it's my opinion.

Mihaylovic

sr. member

Activity: 910

Merit: 255

shitcoins are mostly the reasons of loosing everything. if a coin will be possibly worthless within short term, buying that coin is extremely risky. It is like gambling to buy them.

Captain Corporate

hero member

Activity: 2170

Merit: 575

If you are not putting any alerts, any orders, basically any prevention system and just let your money stay like that and manually do everything, in the bitcoin world some stuff happens very very very quickly, you may end up losing a lot of money. Just to give a very simple example, what would happen if you buy bitcoin at 8k, just leave and do not put any stop loss and orders no alerts, basically nothing? The price could literally go down to 7k and you might be asleep at that moment. However if you are ready for such a thing and have things build in for you, you will just automatically get out before it reachest that low. Always be ready to everything in bitcoin world, even when you are asleep.

Negotiation

sr. member

Activity: 1204

Merit: 270

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: zeingrind777 on July 10, 2018, 04:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Thanks for the lovely suggestions I agree with you. We work unconsciously at work, and not having them I lose our investment and make us poor in cryptocurrency. For this reason, it is important to be careful about the work and look after the various places and then consider them.

Savemore

sr. member

Activity: 952

Merit: 274

Quote from: FlightyPouch on January 24, 2020, 04:18:11 PM

Quote from: k@suy on January 21, 2020, 11:23:52 AM

Quote from: radjie on January 21, 2020, 10:29:20 AM

Before we decide to invest in cryptocurrency, of course the thing to consider is knowing the risks that will be faced, one of the risks is that the government does not provide cryptocurrency regulations and will not guarantee security if we lose the investment assets that we do.
of course all cryptocurrency users must be able to face all the losses that will be suffered if it is not wise in making all decisions

Yes thats right. Even outside the crypto world, to invest is very risky. Imagine those business in the real world can perform a scam even if they are under the government and there is a punishment for those who commit this crimes so how much more inside the crypto world in which anonimity is applied. What I mean is in everywhere, the crimes can occur so we must be careful.

Crimes is always there way before there is a crypto currency. It is not that cryptos made the crime high. There is just that these people are taking advantage of the fact that cryptos are decentralized and it is pseudo anonymous. Without proper knowledge, you will always fall for these ploys so if you really want to invest in crypto currencies, better know it very well.

For those people who keep doing illegal transactions are most likely using bitcoin mixer. Crimes are also rising while the cryptocurrencies are becoming popular. This issue is still hot topic in the senate because government are aware that they cannot trace transaction for those who are using mixer services. The bad part of the usage of the cryptocurrencies are it can be use in criminal and illegal activities.

FlightyPouch

sr. member

Activity: 1638

Merit: 300

Quote from: k@suy on January 21, 2020, 11:23:52 AM

Quote from: radjie on January 21, 2020, 10:29:20 AM

Before we decide to invest in cryptocurrency, of course the thing to consider is knowing the risks that will be faced, one of the risks is that the government does not provide cryptocurrency regulations and will not guarantee security if we lose the investment assets that we do.
of course all cryptocurrency users must be able to face all the losses that will be suffered if it is not wise in making all decisions

Yes thats right. Even outside the crypto world, to invest is very risky. Imagine those business in the real world can perform a scam even if they are under the government and there is a punishment for those who commit this crimes so how much more inside the crypto world in which anonimity is applied. What I mean is in everywhere, the crimes can occur so we must be careful.

Crimes is always there way before there is a crypto currency. It is not that cryptos made the crime high. There is just that these people are taking advantage of the fact that cryptos are decentralized and it is pseudo anonymous. Without proper knowledge, you will always fall for these ploys so if you really want to invest in crypto currencies, better know it very well.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency (Read 6972 times)