1.keeping your fund on exchange site:This is a costly error made by traders.Exchange service providers only exist to facilitate buying and selling of bitcoin,but people see it as a wallet to keep their coin,anything can happen to exchange site like cyber attacks or even shut down of such an exchange site. Keeping funds in an exchange allows exchanges to exert control over user’s funds.
2.Buying and selling because of panic: I was once a victim of this when i first started trading,I bought a coin at a particular price,checking back in the next day i found out that i was losing, out of panic i quickly sold it,after 3weeks i found out the coin has chop up.if i had hold the coin,i would had made some profit but out of panic i sold it.when buying or selling dont do it because of fear,always work with your own strategy.
3.Not making findings before investing:bitcoin and cryptocurrency are surrounded by a lot of scam program. You don't need to conclude on what you see for the first time,make your own findings before drawing into conclusion.cryptos transactions cannot be refunded by any means, and any money lost will be gone forever.
4.Not securing wallet:many cryptos users just leave their wallet without any security.securing your wallet is very very importance.
5.Not remembering passphase:A lot of people do forget the password or passphrase they use to encrypt their wallet.some even don't take the passphrase serious and it need to be treated like something veryimportance,e Either note down the passphrase or save it in digital format on an offline device, just in case.