Introduction:
Learning from mistakes — especially others’ — is one of the best ways to grow as a crypto investor. Here are five common traps to avoid.
1. FOMO Buying at the Top
Fear of missing out (FOMO) often leads to buying when prices are already high. Always research first — don’t follow the crowd blindly.
2. Investing Without Research
Don’t buy a coin just because someone tweeted about it. Check the project’s whitepaper, team, roadmap, and community before investing.
3. Using High Leverage Too Early
Leverage can amplify gains, but also losses. Beginners should avoid margin trading until they understand the risks.
4. Not Backing Up Private Keys
If you lose your wallet and didn’t save your seed phrase, you’ve lost access forever. Always keep your recovery phrases safe and offline.
5. Leaving Funds on Exchanges
Exchanges can be hacked. Use a hardware wallet or a secure non-custodial wallet for long-term storage.
🚫 Mistakes in crypto can be permanent. Think before you click.
