5 Common Mistakes When Starting with Crypto

Avoid these common pitfalls when starting in the cryptocurrency world. Simple tips to protect your money.

Beginner
Security
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🚫 5 Common Mistakes When Starting with Crypto

New to crypto? Congratulations 👏! But beware: many people make the same mistakes at the beginning.

Here are the 5 most common pitfalls... and how to avoid them.

❌ 1. Buying Blindly (Without Understanding)

Many beginners buy a crypto because they saw a tweet or YouTube video.

💡 Bad idea. You need to understand what you're buying, why, and at what price.

✅ Read crypto guides on Tokrypt before investing.

🔐 2. Not Securing Your Account

Leaving your account without double security? Bad plan.

Always use:

  • ✅ a strong password
  • ✅ two-factor authentication (2FA)
  • ✅ a dedicated email if possible
⚠️ Many accounts get hacked because of a simple weak password.

💸 3. Leaving All Your Crypto on an Exchange

It's like leaving all your cash on a café counter.

Even the biggest platforms can have problems (e.g., FTX).

🛡️ Solution: use a personal wallet.

  1. Hardware Wallets

    • More secure
    • Perfect for long-term storage
    • Examples: Ledger, Trezor

  2. Software Wallets

    • Free and easy to use
    • Convenient for small amounts
    • Examples: MetaMask, Trust Wallet

💡 Tip: Start with a software wallet to familiarize yourself, then move to a hardware wallet when you have more experience.

🎢 4. Panic Buying or Selling

Market going up? You want to buy everything.
Market crashing? You want to sell everything.

It's human. But it's often a mistake.

✅ Learn to manage your emotions. Investing also means knowing how to wait.

🎯 5. Following "Advice" from Anyone

See someone on Telegram or Instagram promising to double your money? ❌

Even if the profile looks serious, it's probably a scam.

🚨 Never give your seed phrase (secret phrase) to anyone.

✅ Summary

Mistakes to avoid and best practices:

  • Buying without understanding → Research the crypto
  • Leaving crypto on an exchange → Use a wallet
  • Forgetting security → Enable 2FA and strong passwords
  • Reacting emotionally → Stay calm, follow a strategy
  • Following scams → Never send money to strangers

📚 Next Step

Now that you know the pitfalls to avoid, discover how to choose your first platform and buy your first crypto safely:

Tokrypt – Helping you start in crypto with confidence 🚀