Getting deeply involved in crypto is quite a journey. We have all gone through our share of fear and uncertainty. There is no predefined playbook on how to do well in crypto. We have all learned from our own mistakes. In this 2 series article where I list down some common mistakes, people make during their crypto journey.
I had my friend who guided me to the Crypto Market way back in 2018 and he helped me alot otherwise i am really sure that i might have been scammed easily in Tele cause i believed in anyone very easily (Don't try to Message me for scam now i am 🎃 xd) and the Fishing websites too cause for the new Investor who don't know anything about crypto get into that fishing sites very easily and lose their hard earned income.
Thanks For the article now i can also help many people in easy way just by Sharing this Article and i am sure they will understand it easily :D
I've been through every step on this list. I'm already losing hair just remembering each of them. When I first got into crypto, the naive mindset that I had when I didn't pay enough attention or do enough research about the projects got my wallet dry. Telegram and discord are a battlefield of bots and scammers so be careful out there!
I would also like to add to the discussion about centralized exchanges.
On one side, It is true that you don't own your private keys and you would be better off having a private wallet in the long run.
On the other hand, high transaction fees and the ability to exchange between multiple currencies are very relevant issues in some networks.
Nowadays we have a lot of pretty reputable exchanges out there that have somewhat stood the test of time and could be considered similar to banks.
In some networks like EOS / WAX you should always try to use a private wallet because you don't have these limitations (decentralized exchanges like Alcor and free / almost free transaction fees come to mind).
In conclusion, I think centralized exchanges are a very useful tool to have when you look at the great picture.
I would not consider 4 a mistake unless the exchange you are using isn’t well known or legitimate. Years ago maybe you needed to but since this many exchanges are established and have mainstream backing. I don’t believe everyone is competent enough to secure their own coins in their own wallets as many have lost their coins forever due to not keeping backups or losing private keys. However 4 would be a mistake if your intention is to be your own bank but never obtain your own wallet OR if you decide to go with some scammy looking exchange.
When using third party apps such as TabTrader to manage different exchanges, be sure to set up 2FA and limit what you can do with the API keys. Otherwise you'll very likely lose some money. I've learned this the hard way.
I had my friend who guided me to the Crypto Market way back in 2018 and he helped me alot otherwise i am really sure that i might have been scammed easily in Tele cause i believed in anyone very easily (Don't try to Message me for scam now i am 🎃 xd) and the Fishing websites too cause for the new Investor who don't know anything about crypto get into that fishing sites very easily and lose their hard earned income.
Thanks For the article now i can also help many people in easy way just by Sharing this Article and i am sure they will understand it easily :D
I've been through every step on this list. I'm already losing hair just remembering each of them. When I first got into crypto, the naive mindset that I had when I didn't pay enough attention or do enough research about the projects got my wallet dry. Telegram and discord are a battlefield of bots and scammers so be careful out there!
Thanks for your article!
I think you make really great points.
I would also like to add to the discussion about centralized exchanges.
On one side, It is true that you don't own your private keys and you would be better off having a private wallet in the long run.
On the other hand, high transaction fees and the ability to exchange between multiple currencies are very relevant issues in some networks.
Nowadays we have a lot of pretty reputable exchanges out there that have somewhat stood the test of time and could be considered similar to banks.
In some networks like EOS / WAX you should always try to use a private wallet because you don't have these limitations (decentralized exchanges like Alcor and free / almost free transaction fees come to mind).
In conclusion, I think centralized exchanges are a very useful tool to have when you look at the great picture.
Great read, I'm heading to part 2 now.
I would not consider 4 a mistake unless the exchange you are using isn’t well known or legitimate. Years ago maybe you needed to but since this many exchanges are established and have mainstream backing. I don’t believe everyone is competent enough to secure their own coins in their own wallets as many have lost their coins forever due to not keeping backups or losing private keys. However 4 would be a mistake if your intention is to be your own bank but never obtain your own wallet OR if you decide to go with some scammy looking exchange.
I didn't do a good research on the initial investment, I made the mistake you mentioned. But I was really lucky in other matters.
I have had success with the subjects in this article.
Now I will read the 2nd part, I hope the same success will continue there.
thank you.
The difference between a wallet and an exchange is ownership, been telling newcomers about this.
When using third party apps such as TabTrader to manage different exchanges, be sure to set up 2FA and limit what you can do with the API keys. Otherwise you'll very likely lose some money. I've learned this the hard way.
I will read part 2 before making any comments.
Well written. Ty
This is helpful AF !
Where you’ve been all this time