There’s a reason people say that cryptocurrencies are like the wild wild west: there is snake oil scam artists, pitfalls, and traps out there in the desert.
Don’t be a wide-eyed pioneer who hears “there’s gold in them thar hills!” and rushes out without any preparation. Remember what the great Benjamin Franklin said: “An ounce of prevention is worth a pound of cure.”
This short infographic will fill you in on the basic pioneering trapdoors and pitfalls to avoid when hunting coins in the crypto wild west.
You’ll learn to avoid such mistakes as “putting too much money in”, where you put in so much that you lose sleep and become prone to buying or selling at the worst times due to stress. You’ll also be reminded to keep your treasure box of coins safe by using 2FA.
Moreover, these mistakes aren’t just theoretical ones. They are ten of the most common mistakes cryptocurrency investors make. This means that people have made these mistakes over and over before they finally stopped.
The recommendation, then, is to not only read through this infographic, but to re-read it. Maybe print it out and stick it to your wall. This is serious!
The reason these mistakes are so common is simply that they are easy to make. You’ll be caught up in a big win streak, feeling good about making money, and you’ll easily fall victim to overtrading and lose all your winnings. Or you’ll be so wrapped up in trading that you’ll dismiss all the exchange fees you’re paying.
The bottom line is this: read the infographic, re-read it, and if you ever find yourself slipping and making these mistakes … print it out!
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