Hello FRIENDS!
Today I discuss the top 5 deadly mistakes, the crypto lovers should avoid.
There are many mistakes crypto users can easily get caught in. While some of them are most dangerous one should avoid.
These are as below:
1- The very first, most common and very dangerous mistake is not backing up your wallet. In any case, if you have lost, damaged or stolen your private key you cannot access your wallet from any other method and you will lose all the money in the wallet.
2- Another common and dangerous mistake is mixing up different forks e.g. if you send coins from BCH to BTC you will lose your coins.
3- Another big mistake is to keep your coins on crypto exchanges because it is so risky. The hackers mostly attack crypto exchanges.
4- Ignoring the market timing is another big mistake of crypto investors and traders.
5- Investing more than you afford to lose is a big and common mistake of crypto lovers. Specially, new users are the victims. They have a passion to earn money by trading but don’t have knowledge about it and they lose their money.
These are most common mistakes. There are many others also. Keep avoiding these mistakes otherwise it could be more costly for you.
Thanks for reading