There are many new people every year they join in cryptocurrency but at the end of the day they end up in losing money in this field.
We all know this is a great opportunity for us to make money , but why people loose money ?
In this post i will try to discuss ten most common mistake a new person commit as beginner
Fear of missing out
As the price of bitcoin starts rising people around the globe start debates on news channels and media
soon new peoples are exposed to a new world where everyone could get all their desired full filled and that too without working hard
so they join this new world by investing their hard earned money which they can't afford to loose when the prices of it was high.
soon its price starts comming down and they realise that they are loosing their money because the same people started talking negative about bitcoin and other crypto currencies
so they start selling off their bitcoin in losses
Investing in volatile crypto without doing much research about the token or coin
Generally when people see a coin in uptrend without studying about that coin or token they invest their money onto that and due to lack of confidence they end up on selling it at losses
private key loss
Since people are new to the term private key they tend to loose it or disclose it to scammers resulting in huge loss of their money
Failing to find good community to learn from
Since this field is new to them they don't know from where they can learn it properly and they easily trust on everybody who tells anything about these to them and in lack of information and experience they end up losing.
Sending to wrong wallet address
By lack of care generally people send funds to wallet of other currency or inspite of deposit address they send on withdrawing address and ends up in loosing money
Not keeping hardcopy and multiple copy of everything
Since once you loose those addresses you loose money people often dont keep hard copy of the important things like address passwords etc they loose softcopy by accident which result them to loose their all funds
Not using 2fa
People generally do not take these 2fa like authenticator or otp thing seriously and are easily hacked by various processes like fishing
Generally backdown from challenges
You need to have patience when market is down and wait for the right moment.
you should have faith in your research done
