People always have to find their way around when trying out something new. For Bitcoin and other cryptocurrency beginners, it can be technically confusing. The following are the most common and probably the worst mistakes that should avoid by every newbie in the crypto world.
Not #DYOR ( Doing Your Own Research)
If you don’t want to have a big problem with debt, be responsible. Don’t just slack and do nothing. Do some research.
Expecting big profit
Success comes with hard work, they say. So work your way up. Do not expect to earn big profits while you’re still learning how the system works.
3.Lack of Patience
Have a plan and always stick to .
Selling only when it’s high
Always have a mop -up, and you must stick to it no matter what.
Not holding your private keys
Recognizing and holding your private keys and what types of wallets to use.
Not joining support groups to learn from
- Amazing crypto communities.
- Decred Slack
- SingularDTV Slack
- Crypto Twitter
Using the wrong crypto-wallet
Always double check the exchange wallet funds and sending token.
Not keeping hard copies of records
Write down all your passwords, private keys etc. for incase anything happens, you can restore all your crypto onto another device.
Failing to use 2fa or code saving records
There isn’t customer support inmost cases of the crypto world. So it’s better to back up your two-factor authentication.
FOMO (Fear of missing Out)
Truly there’s a lot of opportunities in the crypto world. To avoid missing out, the tip is to research, research, and research more.
Those are the things you must avoid as a beginner in the world of cryptocurrency. Do not fret for any first-timer gets this feeling. Eventually, you’ll master everything with research and practice. Ask help if needed as there are support groups waiting for you to approach them.