- Always double-check the network before sending.
- Verify every character of a wallet address.
- Use QR codes to reduce human error.
- Don't let FOMO dictate your investments.
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.
Double-Check Networks
When sending crypto, always double-check that you’re using the correct network. Sending tokens on the wrong blockchain (e.g. sending Bitcoin to an Ethereum address) can lead to permanent loss.
Master the basics of sending crypto →
The Golden Rule of Crypto
Make sure to match the currency to the correct network every single time. If you are unsure, send a small test amount ($1) first to confirm it arrives.
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.
The Habit: Take a moment to triple-check every detail. Don't just look at the first few characters—check the first 4 and last 4 characters of the address.
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.
Pro Tip
If you can't scan a QR code, always use the Copy and Paste feature on your device. Never type an address by hand character-by-character.
Avoid FOMO and DYOR
Don’t jump into a new coin or token just because of hype or "Fear Of Missing Out" (FOMO). The crypto space moves quickly, but rushing leads to poor decisions.
Always DYOR (Do Your Own Research) before investing. Look at the team, the utility, and the community before you put any money in.
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Seems simple right? Yet these steps are easily missed. Stay safe and always double-check your transactions!