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Best tips to buy cryptocurrency so as not to fall into poverty

Written By Hanny & Melissa on Friday, April 05, 2019 | Friday, April 05, 2019

Buying to have cryptocurrency may seem a fairly simple task, but it is certainly something that is related to money, if you are not careful, you can lose a lot of things.

Cryptocurrency is a digital currency and if you lose it, it's almost impossible to get it back. Let's look at some of the most common habits that beginners often make when buying crypto assets.

#. Do not want to do research

You are a person who will use your money that you have struggled to find to buy cryptocurrency. If you don't understand the product, or its value, and you only listen on Media, Twitter, or Slack that tells you when to buy and sell, you will potentially lose all your money.

As my friend said, "If you rely on someone other than yourself to buy crypto, you also have to depend on them to know when to sell." Don't be lazy to study and do your own research.

#. Buy Coins That Are At PUMP

This is always the case for crypto world newcomers, they will beat all crypto that are on the market without checking what is happening behind the crypto, and worse they sometimes do not sell when they get profit and still hope for coinsit reaches the highest peak.

And when those dimarket whales who feel enough to make a profit, they will sell massively the coins that have been pocked up beforehand, then the coin instantly becomes less valuable. This happens very often in the market name.

#. Purchase an ICO that is careless

If you think buying ico can make you rich all the time then you need to rethink, currently the ICO is very much circulating in the market and every day they could increase by 100-1000 ICO. And you are lazy to analyze from each ICO that you will buy means you are ready to enter the mud that will sink all your money now.

#. Send Coins to the Wrong Crypto Address

It is unfortunate that this is the most common mistake of all the mistakes made by the majority of people who want to buy cryptocurrency. When you buy, say Litecoin, you have the option to buy it with the same amount of ETH or BTC.

There will be two options given to you, one, the address to send ETH and the other will be the address to send BTC. The most common mistake is when you send BTC to an ETH address or vice versa. If you do this, your crypto is lost.

#. Save Coins So Much in the Market

Many people are very lazy to back up their purchased coins into safer wallets, because they think it will be more difficult to do this. Especially those who like to take quick profits.

You need to remember that quite a number of cases have happened to exchangers due to hackers, hackers can enter at any time into the exchange and they can take all your coins.

If you pay more attention, in 2018 how many exchange sites have hackers been hacked and even worse they have taken all the coins that have been exchanged for targets. And if your coin is exchanged, it's likely that the coin you saved will also be hacked into the wallet.

#. Lazy Save Coin Private keys

After you buy so much crypto with the money you are struggling to find and save it to your personal wallet, you easily forget about the private keys wallet. This will be very dangerous and will result in you being poor in seconds. 

There is currently no way to return cryptocurrency private keys that are forgotten, if you forget them or don't store them properly, the entire contents of your wallet will also be lost .

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