If you don’t take collections, what quickly won, you can miss.
Personal security and financial privacy is something that should not be neglected.
Winning a fortune with Bitcoin (BTC) and cryptocurrencies during an upward cycle can change your life, but it also brings risks that go beyond trading graphics.
The euphoria of seeing green numbers on your screen can cloud the trial, and without precautions, What you earned fast can fade even faster.
If you are an investor, you need to act intelligence to protect capital and security. Here are 10 things you should never do if you are swimming in profits thanks BTC and/or cryptocurrencies.
1. Tell everyone
Talking about your fortune in cryptocurrencies is an invitation open to problems. The more you share, the more you expose yourself to scams, extortion or even physical attacks.
Crimes against cryptoactive holders are increasing. As Cryptonoticias reported in New York, John Woeltz, 37, was arrested after kidnapping an Italian entrepreneur to obtain the password of his digital assets.
The plot began on May 6, when both met for alleged businesses, but Woeltz immobilized the victim and confiscated his passport.
Similar cases have occurred in Marbella, where a trader was retained by three British demanding 30,000 euros in Bitcoin, and in France, where David Balland, co -founder of Ledger, was kidnapped at his own home. Discretion is not just a virtue; It is a necessity.
2. Exhibit an ostentatious lifestyle on social networks
This is something related to the previous point. Publishing photos of luxury cars, expensive watches or extravagant trips on social networks may seem like a way of celebrating, but it is a magnet for problems.
Not only are you attracted to thieves and scammers, but also tax authorities. Ark of Argentina, Hacienda de España, the American IRS … could be attentive to what you do on your social networks.
In addition, exhibiting your lifestyle could even generate family inconveniences. Why not better keep those memories for you and your true intimate circle?
3. Refusing to take profits
If you are in this market in order to obtain a monetary revenue, then you cannot refuse to take profits (that is, change your volatile assets by stablecoins, some strong fiat currency, or for goods and services).
The digital asset market is volatile, and if you do not ensure part of your profits, a sudden fall can hit you hard.
For example, in the collapse of May 2021, Bitcoin lost almost 50% of its value in weeks. Among the reasons that brought BTC down, is that Elon Musk announced that Tesla would suspend payments with Bitcoin due to environmental concerns about the high energy consumption of Bitcoin and China mining intensified its measures against the digital currency.
Not taking profits can also limit your ability to take advantage of other opportunities, such as investing in less volatile markets. Define a percentage of your profits to withdraw at each growth stage; For example, sell 20% when your investment doubles and another 20% if you triple.
Use those profits to diversify less risky assets or to meet immediate needs, such as paying debts or creating an emergency fund. Do not expose yourself to lose everything (which is possible if Tradeas Altcoins) for not acting on time; greed can become your worst enemy.
4. Leave bitcoin and cryptocurrencies in exchanges
Leaving your funds in Exchange is like leaving your Wallet on the street. Do not control those coins; The exchange does. If the bankruptcy platform is hacked or block your account, you can lose everything.
A clear example is FTX’s collapse in 2022, When thousands of users lost their funds after the bankruptcy of one of the world’s greatest exchangesleaving a hole of billions of dollars.
Use cold wallets – physical designitive or offline systems to store your cryptocurrencies – and follow safe personal custody protocols. Cybersecurity is critical, especially when attacks on cryptoactive holders are increasing.
5. Ignore fiscal planning
Cryptocurrency profits are not exempt from taxes, and neglecting this aspect can cost you expensive.
Kill yourself with a crypto -active accountant to structure your profits legally and efficiently. A solid fiscal plan avoids unpleasant surprises.
Not declaring your profits can also complicate the legitimation of your money for large purchases, such as a house, since banks require traceability of funds. In addition, transactions with cryptocurrencies usually leave a trace on the network that authorities can track, increasing the risk of audits.
It has a detailed record of all your operations, including purchases, sales and exchanges, to correctly calculate capital profits. Consult with a cryptoactive specialized accountant who understands local and global regulationsand consider paying taxes in advance to avoid penalties. Do not let the lack of fiscal planning convert your profits into a legal nightmare.
6. Trust anyone
When you have money, The “friends” and “experts” appear out of nowhere with irresistible proposals.
From doubtful investment projects to promises of guaranteed yields, the world of Bitcoin and cryptocurrencies is full of scammers.
A remarkable case is that of Solesbot, a Ponzi scheme that affected thousands of people in Venezuela and Colombia in 2024. The platform promised investors out of poverty, but collapsed when massive retreats led Binance to block the funds, as cryptoics reported it.
Affected users, who even requested loans to invest, organized collective demands against the founder, Raúl Soles, who gave public statements trying to calm investors while the wallets were zero.
Do not trust strangers, no matter how charismatic they are, and never share access to your funds. Thoroughly investigate any proposal and keep skepticism as your best ally.
7. Think that you will always win
Believing that your operations will continue in gain is a mistake. The digital asset market is volatile, and the pride of thinking that you will always be right can take risks without strategy.
For example, in 2022, the fall of Terra (Luna) and its stablcoin Terrausd (UST) made its capitalization pass from 40,000 million dollars to almost zero in a few days, affecting millions of investors. The Terra debacle had a visible impact on the market, Bitcoin and the rest of the main cryptocurrencies, they played background.
Cryptocurrencies not only face falls due to internal factors, such as failures for protocols, but also for external events, such as government regulations or changes in global interest rates that affect market liquidity.
The important thing is not to ignore alert signals, such as unusual trading volumes or news about restrictions in key countries. Establish loss limits (STOP-LOSS) to protect your capital and check your portfolio regularly to adjust your risk exposure.
Do not get carried away by euphoria; A fall can make you lose in an instant what you won in months. Maintain a clear, realistic and analysis strategy, not on emotions.
8. Living as if the Bull Run were eternal
Spend as if the upward market (Bullrun) It was never to end is a recipe for disaster. Do not adjust your lifestyle at an unsustainable level, because if the market falls, You could be trapped with debts or expenses that you cannot cover.
It establishes a monthly budget that does not depend on the profits from cryptocurrencies and rigorously comply with it. Create an emergency fund that covers at least six months of your basic expensessaved in a bank account or in low -risk liquid assets.
Diversify investments in stable financial instruments to have a solid base. Consider working with a financial advisor to help you plan your long -term expenses and savings. Do not live above your real possibilities; Prioritize stability over temporary luxury.
9. Neglect financial education
Winning in Bitcoin and cryptocurrencies does not automatically make you a financial genius. If you do not know how to assemble a budget, control expenses or understand concepts such as inflation, taxes and diversification, you will burn your fast fortune.
Do not ignore your financial education; Read books; Watch videos of specialists and consult with counters to make informed decisions.
Look for resources according to the country or state in which you are, so that the advice you receive are easily applicable.
10. neglect life outside trading
Obsessing with your wallets and graphics can make you forget what matters most. Use your profits to improve your health, strengthen family ties, travel with your partner or fix broken links.
The obsession with trading and investments should not consume. A full life is worth more than any number on a screen.
A report by the Journal of Primary Care and Community Health revealed that many cryptocurrency traders They exhibited behaviors similar to addictioncompulsively operating even when this generates financial losses. They found that high levels of psychological anguish, such as anxiety and depression, were related to market volatility and risks.
In short, do not live only for your portfolio; Use your profits to improve your mental health with therapy, spend quality time with your loved ones or travel with your partner. A full life is worth more than any number on the screen.
Earning a lot of money with bitcoin and cryptocurrencies is just the beginning. Protecting your capital, your privacy and your well -being requires discipline and intelligent decisions. Do not let the euphoria blind you: it acts cautiously, plan carefully and live with balance. Only in this way you will transform a temporary gain into a lasting wealth.
Discharge of responsibility: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of cryptootics. The author’s opinion is informatively and under no circumstances constitutes an investment recommendation or financial advice.
