There are many scammers luring newbies to invest an increase their investment overnight and as a newbie, they have to avoid all those promises. And don't click on any link. And it is good to use DCA method to acquire more bitcoin. People have been scammed not because they were not well secured but because of their greediness to increase their coins sharperly. Bitcoin is not something you acquired in a hurry way but is it is a gradual process. I have lost coins to another address mistakenly though it was not much. Therefore over checking the address before sending is very important.

I think my biggest mistake in my newbie days was leaving my coins on a custodial and centralized platform, such as a centralized cryptocurrency exchange (CEX). These exchanges are very likely to lose your money by getting hacked or simply scamming. Heck, they can simply make up a reason and never give you your money back and there is nothing any regulators or police enforcement will do about it.

The philosophy of Bitcoin is to be your own bank. People do not understand why this is so important until a third party holds your money hostage (or simply steals/loses it).

The mistake you made, if we really call it a mistake then almost everyone here make the same mistake. No one knows what Bitcoins future would be at that time but some handful of people guess it now they are super rich now.

So your friend ultimately got caught.. btw if your friend take fiat as a loan but other person give BTC then he doesn't have to return the Bitcoin, what if Bitcoin price get dropped would the other person actually take the dropped Bitcoin? No.

There are lots of mistakes that new bitcoin users make and a lot of times these mistakes are linked to not having adequate knowledge about bitcoin before making their investment. That's why it is important to learn from the right sources and the forum is one of them and probably the best avenue to learn about bitcoin. Talking about the common mistake most new users make is that they invest an amount of money they should not be investing in it most, at the end of the day this makes them overly tensed at every slight change in the market.
If you react with your emotions then you should not be investing in bitcoin.

Another common mistake that has to do with financial management is that they refuse to set out an emergency fund, when an urgent needs for money comes they end up selling their coins which ruins the investment.

well from my own end i made a mistake of using all my savings from work to invest in crypto. i can remember vividly on that faithful day with my colleague where i previously worked, this my colleague we knew him to be someone who usually invests in cryptocurrency and suddenly one day at the office he shouted with joy and when i asked what it was he said his coin has pumped massively and that he will get rich. i never had any idea about crypto then but i just wanted to become rich like him also, so i pleaded with him that i will like to join him in his crypto business and he accepted to take me in, he asked how much i will like to start investing with and out of curiosity and because i want to be rich quickly i told him i will invest with one month of my salary. that was how i invested with a huge amount hoping it will instantly fetch me a more higher profit, but after some days my colleague called and told me the coins we invested on has really gone down and there was nothing left for me. that was how i lost my savings without knowing that it was a shitcoin he bought, if i had known earlier that it wasnt bitcoin i wouldn't have invested, and it was as a result of this that made me to calm down to really learn about cryptocurrency on my own.

 my advice is that newbies shouldn't jump into any cryptocurrency investment they see, they shouldnt also think because of getting rich quickly and invest with all their money and they should also make their own findings and research before investing, most importantly they should stay away from altcoins and focus more on bitcoin.

Trying to make quick money from bitcoin investment, or trading bitcoin. I have seen people invest in bitcoin thinking they will be able to make quick money, I also had that kind of mindset before, I was thinking if I can start trading bitcoin, am going to make quick profits within a very short period of time, but when I started trading, I was losing instead of making money, I had to start doing more research to understand what bitcoin trading was all about, and I realized it’s not what I should be expecting quick reward from. If you are investing in bitcoin, always try to hold for long period of time, don’t be so desperate to make profits.

One thing I believe about having the desire to make quick gains usually pushes someone into investing more money that they cannot comfortable afford. The moment an investor start seeing every price movement as an opportunity to recover he or she has already loss or as an opportunity to make quick profit, any small crash on the market will put pressure on you and it becomes very easy to make emotional decision.

People that are new into Bitcoin investment, should approach Bitcoin with a clear purpose, know the reason why you want to start accumulating Bitcoin and only invest money that is not needed for daily expenses. If the money available on you is needed for paying bill, house rent, buying food, for emergency or other important things, then you should not put that money into Bitcoin.

They think Bitcoin is a quick way to make more money because they see crypto influencers on X and assume they can do the same... Most new users need to understand that Bitcoin isn’t a get-rich-quick scheme... They might see influencers who’ve gotten rich through crypto, but that shouldn’t be a reason to jump in.. their success may not be as straightforward as it seems... It’s possible they were just lucky enough to make that much money from their investments, or they’re simply good at showcasing their success while hiding the fact that they’re just pretenders.

Investing in Bitcoin requires patience and consistency over the long term... If they think they can get rich quickly, they risk losing their money because the price of Bitcoin can fluctuate in a short period of time.. It all takes time and it can't be achieved overnight, so this should be treated like building long-term wealth, not a quick way to make money.

Another thing that new investors expect to make quick profits buy Bitcoin is that they do not have an emergency fund for bad times that will allow them to buy Bitcoin and hold it for a long time and cannot consistently manage the investment in future bad times, which results in them having to sell all their investments midway, which is really painful for an investor.

To profit from investing in Bitcoin, you must first have a long-term plan. In addition, you must invest consistently to the best of your ability. You must hold Bitcoin with patience and confidence. You cannot make a decision to sell all your investments quickly due to emotional situations. You must wait for better times in the future. As a result, profits can be expected from Bitcoin.

That was great if you had a script but I could not get enough referrals so I just created more accounts haha but wasted my time and energy but you are right if we keep those sats secure to this date maybe the profit would have been much better than those times.

I always thought of creating a faucet site instead of using them, because I knew this is the only way to make BTC if I can't mine or buy but that was when I was newbie. Now I prefer buying over mining and doing anything else like faucets.