Share your costly lesson about crypto

[C.Grigg]

As the title says, please share your costly lesson about cryptocurrency. So others users could take a lesson from your story and they would get the advantage of it without losing anything. Usually, when humans learn a lesson, it's not because of a good outcome.

 

[Heatman]

I entered into futures trading one time and forgot to set my stop loss in that particular trade and my money was liquidated. It was around $160 trade.

 

[Monster Masterpiece]

I do with cryptocurrency is use Uphold as a wallet for incoming Litecoin transactions as they have USD means crypto received is converted into USD on the account used means money will still with his value. You can use USD to trade between crypto accounts to gain a small profit but Uphold isn't supporting enough currencies.

 

[Kennysplash]

The warning you get about writing your seed phrases down, please pay attention to it. Losing your seed phrase is a horrible experiences, I learnt that the hard way. Make sure you back up your seed phrase online, offline and maybe in the bank even.

 

[Nova_]

I have my shares of investment horrors in crypto. For example, I invested into few altcoins like TRX which have never touched 1 dollar mark. And that has kind of affected my investment as I am not in profit for years and my money stuck. So just holding some of them till it's worth to sell for some good value.

 

[Hummy2]

I have my shares of investment horrors in crypto. For example, I invested into few altcoins like TRX which have never touched 1 dollar mark. And that has kind of affected my investment as I am not in profit for years and my money stuck. So just holding some of them till it's worth to sell for some good value.

I would just like to say that if you want to invest in Cryptocurrencies then Litecoin and ethereum are best for new Investor other who have no working experience in cryptocurrency.

 

[GoldenLady]

I have two lessons learnt. First is confirming transaction fees and receive fees. I once lost a payment of about 7 dollars on Luno as transaction fee for receiving Bitcoin.

The second and most painful is not taking profits. When dumps like this one come, I go back to square one.

 

[Ridorz]

I am new to crypto currency and I'm yet to know much about crypto. But I can say litecoin is the one of best coin I am trading, because litecoin has a low fee on any wallet and it's tradable. So, if you want to trade or send small amount of money from your wallet, do not use a Bitcoin or ethereum due to their high gas fees.

 

[GoldenLady]

The warning you get about writing your seed phrases down, please pay attention to it. Losing your seed phrase is a horrible experiences, I learnt that the hard way. Make sure you back up your seed phrase online, offline and maybe in the bank even.

In addition to this, it's also more important to never leave it in a place that can be easily hacked, like a Google document or a picture online. Even your computer can be corrupted by viruses that can access the information, so it's also not safe.

 

[Flower]

The lesson that I learnt into the currency is when I traded without having a good knowledge of the technical analysis and it cost me close to 200 dollars.

 

[Nomad]

I received bitcoin first time in 2016, I received 0.25 BTC for the pricer of $400. I spent my BTC. In 2017, I had almost 1 BTC when the price was around $900, I spent those coins. I wish I had kept my BTC.