How to avoid losses due to inexperience?

In the world of cryptocurrencies, success does not only mean making profits, but also avoiding mistakes that could cost you everything. Here are the most important stories and lessons that can save you from future losses:

🔍 The most prominent examples:

1. Gerald Cotten - QuadrigaCX platform:

The platform lost more than $ 190 million after the death of its director, who was the only one who had the keys to the wallets.

Do not rely on a single individual or a completely centralized system.

2. James Howells - Bitcoin in the trash:

He lost a hard drive containing 8,000 bitcoins worth millions of dollars after accidentally throwing it away.

Always make sure to keep backups in safe places.

3. Losses due to FOMO:

Many investors enter the market out of fear of missing out on a quick profit opportunity, only to find themselves buying at the top and selling at the bottom.

Don't let emotion drive your decisions

Choose well-known and reliable trading platforms such as Binance, and keep your assets in cold wallets.

Steps to avoid mistakes:

Make an investment plan: Clearly define your investment goals, and don’t invest more than you can afford to lose.

Learn before you invest: Take your time

Diversification is important: Don’t put all your assets in one currency

Use security tools: Enable two-factor authentication (2FA), use secure wallets.

Stay away from scams and tricks: If an offer seems too good to be true, it’s probably a scam