Mistakes That Make You Poor Poor In Cryptocurrency - page 31.

legenduim

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Quote from: fishball on August 05, 2018, 11:50:18 AM

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Probably the worst mistake anyone can make is getting hyped into business, being too confident, and then just jumped right away without even learning the pros and cons of bitcoin...in short lacking of knowledge will simply put you on the verge of crisis.

It seems to me that one of the biggest mistakes that can make you poor is the wrong choice of the altcoin. really, do not believe the rumors and be careful when picking an alt.

Elips1

newbie

Activity: 154

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Quote from: Ngemmeng on July 10, 2018, 07:33:36 AM

in cryptocurrency we have to protect our assets as best we can because we are responsible for all the assets we own.

Yes, that's true because we are the guardian of our personal assets just like our pin codes that we are the one knows it.
The common mistake of others are lack of knowledge on how to be safe, so we should protect our assets consistently.

jademaxsuy

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Activity: 924

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Actually i do not consider this as a mistakes because these are just weakness and not having preventive measures that these things could really happen. These are considered as cautions to everybody who do involve on cryptocurrency. Anyway we have common sense we know what we should do.

rickyharun

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Activity: 197

Merit: 3

Quote from: Sarastiche on August 06, 2018, 06:26:04 PM

My major mistake is the fact that I did not settle down to understand how the cryptocurrency, I burnt my fingers with my investment/ portfolio due to lack of knowledge before investing. Also I bought Coin Witbase on h Rumors and hype, it latter turn out to be a fake hype.

equipping ourselves with sufficient knowledge about investing in cryptocurrency is very important. we will be able to avoid things that make us suffer losses.

Finestream

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Quote from: w33man on August 06, 2018, 03:08:52 PM

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Another thing is investing in too much to be true investment scheme. Take note that cryprocurrency was not created to make anyone rich over night. Sometimes being too greedy make people lose a lot of money and end up being scammed in cryprocurrency.

Exactly.As much as possible we all need to be cautious in everything we do particularly in making big investments.I believe cryptocurrency had helped a lot of people in making their status in lives improved but for sure it won't take an overnight process.So let's take it one step at a time.There's always a perfect time for everything so we should learn to be patient and not being greedy because it will only lead to big losses in life.

Sarastiche

member

Activity: 532

Merit: 10

BITCOIN IS THE CURRENCY OF THE GLOBE

My major mistake is the fact that I did not settle down to understand how the cryptocurrency, I burnt my fingers with my investment/ portfolio due to lack of knowledge before investing. Also I bought Coin Witbase on h Rumors and hype, it latter turn out to be a fake hype.

w33man

full member

Activity: 462

Merit: 100

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Another thing is investing in too much to be true investment scheme. Take note that cryprocurrency was not created to make anyone rich over night. Sometimes being too greedy make people lose a lot of money and end up being scammed in cryprocurrency.

Abolaji11

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Activity: 352

Merit: 1

Quote from: avikz on July 10, 2018, 06:06:30 AM

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

You have said it all. Infact I can say u read my mind correctly. Greediness?? That's what is killing people not only in cryptocurrency but in every works of life.

Masleo

newbie

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Fortunately I have not experienced this error and I will try to avoid this as much as possible by learning from others' mistakes. Like we know the best experience is the experience of others and we can learn from it.

Diablesfunis

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Yeah I agree with most of you've said and the most important thing in crypto is securing your private key, this can be advantage or disadvantage as you have full control of your money so you have to keep it secure but people not used to do that so they don't care that much about the private key and later cry because they can't access their own money.

chrisculanag

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Quote from: fernandoclause on August 06, 2018, 02:05:34 AM

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

maybe this post scared people to invest in cryptocurrency, and I still can't find a solution to this

Yes i agree with you because of this many individual are really scared but we have a solution for that problem just search more about the securities and find a most effective ways to avoid scam . If you are know the safe ways to use crypto you have a chance to be a successful trader or millionaire. Be positive , do well and stay safe. Thats all.

Golftech

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Quote from: Semar Mesem on August 06, 2018, 01:50:51 AM

There were many mistakes made by investors about cryptocurrency, they thought that with crypto investment it could instantly make a fortune, besides that they did not detail what the real product was from the crypto.

Common mistakes that most crypto investors faces when started entering this market, thinking that it is an easy access to become fortunate, not doing their own research and assume or relied only with someone who's much earlier than them to enter the market, those things that needed to be learned should be taking into credit and be reviewed correctly.

RBEP-RBC

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Activity: 45

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Quote from: btc78 on August 06, 2018, 02:28:56 AM

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Complete list of major factor why many are losing in crypto and don't get to recover from this

But whats important is the attitude of the person involving in crypto,we must learn that before earning risk is on he other side,and all we need to do is not absorbing this as hindrance for your success

Let this list from Op as a example of things we must prevent from happening

I would also add the following:
1. Trading frequently in and out of coins to try and time the market. The odds are heavily against you being able to time the market right on the way up or down.
2. Not having a strategy for when to get in and out.
3. Sending you coins to the wrong address.

btc78

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Activity: 2520

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Eloncoin.org - Mars, here we come!

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Complete list of major factor why many are losing in crypto and don't get to recover from this

But whats important is the attitude of the person involving in crypto,we must learn that before earning risk is on he other side,and all we need to do is not absorbing this as hindrance for your success

Let this list from Op as a example of things we must prevent from happening

fernandoclause

newbie

Activity: 98

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

maybe this post scared people to invest in cryptocurrency, and I still can't find a solution to this

Semar Mesem

full member

Activity: 1484

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There were many mistakes made by investors about cryptocurrency, they thought that with crypto investment it could instantly make a fortune, besides that they did not detail what the real product was from the crypto.

Kellyrobinson86

newbie

Activity: 25

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I think cryptos is all about self-responsibility and one should be held responsible for the consequences occurred in his case. That's the reason why it is recommended to invest time before investing money to learn and understand about the crypto industry. Cryptocurrencies are based on blockchain technology which relies on the principle of decentralization.

MidKnight

full member

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I think number 4 is what they mostly commit. They just survey this forum or the exchange site's trollbox to monitor the coin that is going to rise and that is exactly the mistake that makes them lose more.

Rastafarian

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Activity: 238

Merit: 1

Nothing can make you poor in crypto but its all about your mindset. What your mind tells you is what people comply to. Never think evil about to the market. there are better days ahead so keep withold with coins on the ,market

lester04

newbie

Activity: 196

Merit: 0

Quote from: zeingrind777 on July 10, 2018, 05:06:55 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.

Yeah we should backup our assets I think this is the first thing we can do especially if we have lots of bitcoin in or wallet we shouldn't be careless cause this is a huge money and we never know when hackers attack so we must protect our assets.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 31. (Read 6931 times)