I think this is a concise material for newbies on the crypto platform !
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Common ways Newbie Crypto Traders lose their money
Pumped and excited to start trading , most newbie traders when starting their crypto journey encounter a lot of losses. Due to the happiness and desire to make quick profits, newbies easily make the following mistakes , that usually leads to lose of assets.90% of them are likely to engage in scam projects and also interact with websites that would steal their assets. Entering the world of cryptocurrency can be exciting, but it's important to be aware of potential risks and scams that newbies might face. Let's explore some ways newcomers can encounter losses or get caught up in scams in the crypto realm. FOMO stands for "Fear of Missing Out." It's a term used to describe the feeling of anxiety or apprehension that someone might miss out on a rewarding opportunity or an exciting event. FOMO often arises when people see others making significant gains or profits from a particular investment, causing them to feel pressured to join in quickly to avoid missing out on potential profits. This fear can lead individuals to make impulsive or rushed investment decisions without conducting proper research or analysis. As a result, they might invest in assets solely based on the fear of missing out on quick gains, disregarding the risks and potential downsides.They may feel compelled to buy into the asset at a higher price, fearing that if they don't act immediately, they will miss the chance for substantial profits.In summary, FOMO in the context of cryptocurrency investing is the fear of missing out on a lucrative investment opportunity, often leading individuals to make rushed or impulsive decisions based on the fear of not being part of a potentially profitable trend.🔥1. Lack of Knowledge:Newcomers might dive into cryptocurrency without understanding how it works. They could fall for misleading information or invest in projects they don't fully grasp. It's crucial to learn the basics and research before investing to avoid potential losses.🔥2. Pump-and-Dump Schemes:Some scammers try to inflate the price of a cryptocurrency by spreading false information, creating hype, and then selling their coins once the price rises. Newbies might get caught up in these schemes, buying at high prices and experiencing losses when the value drops suddenly.🔥3. Phishing and Fake Websites:Scammers create fake websites or emails that look like legitimate cryptocurrency platforms. Newcomers might unknowingly share their private keys or login details, leading to hackers stealing their funds. It's essential to double-check website URLs and avoid sharing sensitive information.🔥4. Ponzi Schemes:Scammers might promise high returns or guaranteed profits through investment schemes. Newcomers could be lured into these schemes, investing their money only to find out it was a scam, leading to financial losses.🔥5. Unregulated Exchanges and Tokens:Using unregulated exchanges or investing in new, unknown tokens can be risky. Some exchanges might not have proper security measures, and new tokens could be fraudulent or lack value, causing losses for newcomers.Staying Safe in the Crypto Jungle:To avoid falling victim to scams or encountering losses in cryptocurrency:- Educate yourself: Learn about cryptocurrencies and how they work before investing.- Verify information: Double-check sources and websites to ensure legitimacy.- Use reputable platforms: Stick to well-known and regulated exchanges for transactions.- Avoid FOMO (Fear of Missing Out): Don’t invest hastily due to hype or pressure.- Secure your assets: Use strong passwords, enable two-factor authentication, and store your funds in secure wallets.If you find this educative, please like ,share and follow. You can support us with Tips as this would help us earn money and create more content #xmucan #BTC
REPOST : How to Create a Quiz Crypto Box? 12:49 PM・Nov 9, 2023
Binance Square Official The Quiz Crypto Box feature is available on both the app and web versions, so make sure to update your app to the most recent version.
To be eligible for creating a Quiz Crypto Box, Square creators must have at least 1,000 followers on Binance Square. Using Quiz Crypto Box in engaging and informative content enhances audience engagement and interaction, fostering stronger connections and a more vibrant community.
*Please note that Quiz Crypto Box feature might not be available in your region.
What is the Quiz Crypto Box?
Users can receive crypto box gifts by correctly answering questions you set in the comment area under your Square post or article.
Creating a Quiz Crypto Box:
To create a Quiz Crypto Box, follow these steps:
Select the Crypto Box icon while editing Square content, either on the web or in the app.
Click "Crypto Box Quiz", choose a random or fixed crypto box, and fill in all necessary fields to create a crypto box.
Review the quiz details and your post content, then click "Publish".
The quiz will appear under your post or article.
Note: It's important to follow the guidelines and terms of service provided by Binance Square when using the Quiz Crypto Box feature.
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#BinanceAcademy has solved the puzzle "bugging my mind " earlier 😅
It's good to read up some things yourself - saves you a lot of stress 😬