@thesatoshistore
edited
The Worst 10 Mistakes I've made using Crypto that you can avoid
1) Sending all your money to a platform or address you're using for the first time. *Always test new platforms or addresses with small amounts. No exceptions.* 2) Sending to the wrong address *Always double check your address. But if you followed the rule above, this mistake won't cost you a lot.* 3) Spending 200$ in fees for sending 5$ because you accidentally choose too high fees. *Always make sure your fees do not exceed the amount you're sending.* 4) Losing your private keys *Save Guard your private keys, you are your own bank.*
5) Not using 2Factor Authentication on your crypto exchange account *It's not enough to only use email verification to secure your accounts, you must go further.* 6) Using the same passwords for all exchanges *This is obvious, if someone gets into one of your exchange accounts, they could get into all.* 7) Sending Bitcoin to Bitcoin Cash address: Some coins have similarly looking addresses, always check.
8) Buying the Top and Selling the bottom Buy low, sell high. No exceptions.
9) Investing in coins without doing my own research Do Your Own Research on any project you intend to invest in. You need to be convinced by the facts before you buy any coin. See this article https://read.cash/@thesatoshistore/how-to-develop-a-bullet-proof-mindset-as-an-investor-482dfaa9
10) Not Joining read.cash earlier 😅 *Did you find this article useful? If so please subscribe, upvote so I know you did! What other mistakes have you made being in the crypto sphere? Let me know in the comments. Cheers!*
28 comments
All these are critical mistakes especially the last one. Although better late than never. My favorite one which I consistently make is Buying High and Selling Low. I just can't help myself.
Hahaha, we all fall short sometimes. Thanks for the upvote mate.👍
True especially in the beginning of the investment they are easy to the fall into the believe.
Good awareness for the beginners
Haha I made some of these mistakes. Lol "learning the hard way" they may say haha nonetheless, what's important is we learn from it. To those whose new and is reading this article, learn from other people's experience. It'll save you from dispair haha
I like the last one the best! haha but yeah these are all great points. These are mistakes that are easy to make but with little education also very easy to avoid so great post.
Great write up! I have done 1 and 2 for sure. I didn’t know my stable coins short code and I got USDC and USDT mixed up. Good thing it was a small amount and the receiver actually returned my funds. Lucky me. I’d explain point 3 more. Sounds like you may be referring to ETH gas price.
Thanks mate!
I totally laughed at the reasons you indicated from the mistakes you've done for I experienced some of them too. It's okay to made a mistake because we're learning from it day by day but if that mistakes happens again and again that's no good 😐
wise words 👍
Mate I loved this post. Both informative and humorous 😌 Especially the 10th item is my favorite. Thanks a lot :)
Hahaha that was so funny about sending btc to bch haha year it never come back, and the trade law buy low sell high ha ha, I remembered the time that I don't know how to trade, goodness all of my income result for nothing. It's was very funny tho very helpful tips..
I'm very careful in crypto, but still I made a mistake before. One platform have a promising product, actually a real case product , it was in ETH block chain. Its look very legit, and withdrawing and depositing coin seem very normal until the whole company gone into a exit scam with investors money. Lucky for me that I only reinvest the money I already earned and been withdrawn my capital already
One of my mistakes was investing a fake coin through someone although then i wasn't into crypto but I have learnt something from your experience that I will implement in order to avoid making the mistakes,thanks for sharing this great post.
When I have started in crypto, I had also committed many if similar mistakes. One of the mistakes that lost most of mu money was I used to buy at highs thinking it will go higher, and then panic sell it
This made me laugh out loud for a bit. Most of this is me. But now that you pointed it out. I realized. Wow, that is how newbie I am at crypto.
hahaha yeah it hit me !! lol
As a newbie in this field, I find this really helpful. I did some mistakes that you have mentioned. I guess your article was a bit too late to let me know these mistakes that I couldve avoided hahaha also, good job on those comic strips! Content and sense of humor together attract a lor of people. Hope to see more of this!
Your article is more of advise for cryptocurrency newbies and experienced investors. Thank you for the advise.
That's a big fact and a lesson to learn
that's true I have a mistake also when I transferred my coin in a different bch to btc too for me to realize that address is wrong lesson learned for me dont transfer if you are lack of sleep. 😁😁
My mistake are 1, not joining read.cash on time. Just came in a month ago 2. Failure to do email confirmation on my read.cash account which leads to losing my popular account and wallet. Am using a new account now
Make sure before you conduct some action you must be skeptical and optimist so that it will be avoided
Hlw sir I am not experience in this platform I have very worried that how can I work than I know it everything for your article I am following this instructions thank you
Good article. Very relevant for every budding crypto enthusiast to know like the back of his/her palm.... No room for mistakes in crypto. Also, a simple but less known thing is to use a dedicated email (preferably Protonmail) for all your crypto services that hasn't or wouldn't be revealed anywhere online or offline (ie one should have a private email, work email and crypto email)
I once sent 15$ bch to the wrong address
Thank you for your suggestion.It's helful for who unknown about it.
As a newbie in this field, I find this really helpful. 😙I did some mistakes that you have mentioned. 🙂I guess your article was a bit too late to let me know these mistakes that I couldve avoided hahaha also, good job on those comic strips! 😚Content and sense of humor together attract a lor of people. 😊Hope to see more of this!😋😋