If you are new the world of crypto, check out this list of mistakes that newcomers to the market should try to avoid...

Not doing any research

The first thing you'll need to learn is how to do your own research. You should never invest in a cryptocurrency without first carefully looking into the background of the currency, and its prospects for development in the future.

Expecting to make a profit from mining

While it used to be possible to make a profit from mining bitcoin using a standard desktop computer, this is no longer the case. The increasing difficulty of the mathematical problems which must be solved in order to create a new block means that you now need a powerful machine to mine bitcoin. The cost of this equipment, and the amount of electrical power needed to mine one bitcoin, means that the cost of mining one bitcoin is often more than the value of one bitcoin!

Not being patient

Many people are really excited when they buy their first lot of cryptocurrency. This is because they expect the price to rocket the next day, so they can sell their bitcoin and become a millionaire. This is unlikely to happen! Being a crypto investor requires patience and nerves of steel. Do not sell when the price dips, and do not become discouraged when the price rises slowly.

Not using private keys

Not using private keys is a massive mistake. Private keys are what keep your crypto wallet safe and secure. If you want to protect your crypto wallet, research private keys – and start using them.

Not joining a community

Some of the great things to arise from the development of the crypto markets are the online communities on Reddit, Facebook and Twitter. If you are serious about crypto, you should find an online community and join it. Not only will you make friends, but you will also be able to receive support and gain knowledge from other investors.