07-14-2021, 03:16 AM
Crypto has many pitfalls. Here are some easily avoidable mistakes that new users ten
<!-- SC_OFF --><div class="md"><ol> <li>Never send a large amount of funds without a test transaction</li> <li>Don't invest in shitcoins, they may succeed during a bull market but many of them won't exist after a bear market.</li> <li>Keep crypto in cold storage as long as you don't need it liquid</li> <li>Don't buy from RobinHood or anywhere else that doesn't give the option to withdraw the actual coins</li> <li>Don't try to time the market, just use Dollar Cost Averaging</li> <li>Don't transfer / sell / exchange coins for no reason, you will be destroyed by fees</li> <li>Never reveal your positions to anyone else on the internet</li> <li>Don't tell people you own crypto unless you trust them fully</li> <li>Use Coinbase Pro instead of regular coinbase. It has lower fees and is completely free.</li> </ol> <p><strong>Hopefully some of you can learn from my (and many other members of this sub) mistakes!</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojkhg8/crypto_has_many_pitfalls_here_are_some_easily/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojkhg8/crypto_has_many_pitfalls_here_are_some_easily/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><ol> <li>Never send a large amount of funds without a test transaction</li> <li>Don't invest in shitcoins, they may succeed during a bull market but many of them won't exist after a bear market.</li> <li>Keep crypto in cold storage as long as you don't need it liquid</li> <li>Don't buy from RobinHood or anywhere else that doesn't give the option to withdraw the actual coins</li> <li>Don't try to time the market, just use Dollar Cost Averaging</li> <li>Don't transfer / sell / exchange coins for no reason, you will be destroyed by fees</li> <li>Never reveal your positions to anyone else on the internet</li> <li>Don't tell people you own crypto unless you trust them fully</li> <li>Use Coinbase Pro instead of regular coinbase. It has lower fees and is completely free.</li> </ol> <p><strong>Hopefully some of you can learn from my (and many other members of this sub) mistakes!</strong></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/roberthonker"> /u/roberthonker </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojkhg8/crypto_has_many_pitfalls_here_are_some_easily/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/ojkhg8/crypto_has_many_pitfalls_here_are_some_easily/">[comments]</a></span>Kind Regards R