Some helpful tips for beginning investors in Bitcoin and Alt-coins are detailed in an article at Hackernoon.com.
The growth in the cryptocurrency is undoubtedly encouraging more people to participate in it. Far from being just the passing fad that many tagged it to be in 2011, the market has emerged as one of the most popular in the financial space. With this influx of new traders and speculators, there seems to be a constant supply of newbies in the space. A big part of the learning experience are the mistakes that are made by these newbies while finding their feet. Some are hilarious while others can have devastating consequences. There is even a Reddit thread that chronicles some of the mistakes that crypto users have made over the years.
It can be argued that the internet has created a culture that has greatly affected the way we do things. The ease of access to information means that it isn’t necessary to know something when you can just “Google” it when needed. The computer is now treated as the personal assistant that knows and does all things for us. With Bitcoin and cryptocurrencies, it is almost suicidal to leave everything in the hands of the computer or online services. A great deal of personal involvement is required in order to prevent costly mistakes.
The following are some of the costly mistakes that newbie cryptocurrency users have been known to make.
1.) Lost Keys
2.)Keeping Coins in Online Wallets
3.)Not Keeping Hard Copies od Important Information
For the complete article go to Hackernoon.com