Are you making money with Bitcoin or other cryptocurrencies? Discover the 20 things you should never do if you want to protect your money and your security. Discretion and caution are key to avoiding fraud, losses, and tax issues.
The world of cryptocurrencies is exciting, but it is also full of risks. Here is a list of 20 common mistakes you should avoid if you are already generating income with cryptos.
🔒 1. Ignoring digital security
Never share private keys or weak passwords.
🤫 2. Brag about your earnings
Avoid telling everyone how much you have earned. A closed mouth is your best security tool.
📉 3. Believing that you will always win
The market is unpredictable and can drop quickly.
🧾 4. Evade taxes
Consult with a tax expert and declare your earnings.
🔐 5. Leaving funds on exchanges for too long
Use cold wallets for greater security.
💳 6. Investing all your money in cryptos
Diversify your investments.
🎯 7. Not having an exit plan
Define when and how to sell your assets.
📊 8. Not recording your transactions
Keep detailed records to avoid confusion and tax issues.
🚨 9. Trust strangers or online contacts
Never send funds to people you don't know.
💥 10. Falling for promises of quick profits
Beware of fraudulent schemes.
👀 11. Not following news and trends
Stay informed to anticipate market movements.
🔎 12. Not researching before investing in a project
Avoid projects without clear fundamentals.
🛑 13. Betting everything on a single token
Do not put all your funds into a single asset.
🔥 14. Trading based on emotions
Avoid buying or selling out of panic or euphoria.
🧑💻 15. Not updating wallets and apps
Keep your software secure and up to date.
🏦 16. Use insecure platforms
Trade only on reliable and regulated exchanges.
🏃 17. Selling at the first price drop
Patience can be key in investments.
🌍 18. Forgetting sustainability and environmental impact
Consider environmentally responsible projects.
📲 19. Not protecting your devices and personal data
Use antivirus, VPN, and two-factor authentication.
📚 20. Not continuing to learn about cryptos
Continuous education is key to success and security.
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