Top 4 Common Crypto Mistakes and How to Avoid Them

It’s important to avoid common mistakes that could cost you time, money, and even your investments. Below are the easiest and most common errors and how to prevent them while navigating the crypto space. 

1. Double-Check Networks

When sending crypto, always double-check that you’re using the correct network. Sending tokens on the wrong blockchain can lead to permanent loss. Make sure to match the currency to the correct network every time.

2. Verify Addresses

Before hitting “send,” verify the recipient’s wallet address multiple times. Cryptocurrency transactions are irreversible, so one wrong letter or number can mean your funds are gone. Take a moment to triple-check every detail.

3. Use QR Codes

Scanning a QR code instead of manually entering an address is a smart way to avoid mistakes. QR codes reduce human error, making your crypto transfers faster and more accurate. Also use the copy and paste feature on your device if you can.

4. Avoid FOMO and DYOR (Do Your Own Research)

Don’t jump into a new coin or token because of hype. Always do your research before investing. The crypto space moves quickly, but rushing can lead to poor decisions.

Seems simple right? Yet easily missed. Stay safe and always double-check your transactions!