Cryptocurrencies are exploding and swallowing everything around them. Thus, It’s not weird to get caught up in this hype of the foggy atmosphere and make mistakes somehow irreversible. Some mistakes that are better not to make to f*** your money are here.
Buy cryptocurrencies just because they are cheap
If something is cheap, it doesn’t mean that is good for investment. There should be a reason for that.
your main goal must be finding the reason and being careful about cryptocurrencies with falling user rates.
It is likely to happen that developers leave a project and the plunge is for the insecurity the issue brings
Although some say that you must bet as much as possible, it is a quick way to the poor house.
It is more cautious to invest a certain amount of your capital and keep some money in your pocket.
Fall for scams
Be suspicious about perfect deals as they often are too good to be true.
So never believe emails that inform you about a big opportunity, brokers that are in hurry, and always stick to famous well-known crypto wallets. at the top of these, search every coins’ name you heard as if they are fake or not
Assume crypto is easy money
Making money is not easy in no way not only through trading crypto coins but also any kind of financial asset. Thus don’t turn your capital into cryptocurrencies just because of the hype; do some research first
Forget the wallet password
The easiest way to lose all you have is to forget your crypto cold wallet keyphrase. Without that, all you have would be irremediable.
If it happens to your hot wallet, just pray for others to keep their passwords in mind.