Thank you all for the likes, as promised I'm making the second part✌️
1. Storing funds only on the exchange
Although Binance is a reliable platform, there is always a risk of hacking attacks.
Tip: For long-term storage, use hardware wallets like Ledger or Trezor.
2. Neglecting two-factor authentication (2FA)
The lack of additional protection makes your account vulnerable to hacking.
Tip: Enable 2FA through the Google Authenticator app or SMS.
3. Do not consider fees
Beginners often overlook trading fees, deposit/withdrawal fees.
Tip: Familiarize yourself with the fee schedule on Binance and choose optimal options. For example, use BNB to pay fees at a discount.
4. The race for hype
Investing in coins that "everyone is talking about" often ends in losses when the price suddenly drops.
Tip: Be cautious with "hyped" projects. It often ends in a dump.
5. Do not consider taxes
Some forget about the need to pay taxes on cryptocurrency income.
Tip: Learn about tax requirements in your region and keep track of your trades.
6. Falling for scammers
Scammers often offer "guaranteed" profits or ask to transfer funds to their wallets.
Tip: Never share your data, passwords, or keys. Binance will never ask for such information.
Conclusion
Mistakes are part of learning, but it's better to learn from others' experiences. Study the market, don't rush, and always approach investments wisely.
What
What mistakes have you already avoided? Write in the comments!
