![file (1).png](https://steemitimages.com/DQmVr17ATyqT3qvMbSmGfSNcVDMcVnC1KSYDfYPPxLfVsit/file%20(1).png)
[Credits](https://static.wixstatic.com/media/61f616_82717fd84ba242e3ba5167341546f343~mv2.jpg/v1/fit/w_800,h_400,al_c,q_80/file.png)

Hello Everybody!!

Today, we are going to discuss the three deadly mistakes you're probably making in Bitcoin and cryptocurrencies.

# Mistake Number 01
<b/>

Never Keep your cryptocurrencies or Bitcoin in the actual exchange you purchase them from. 
So if you bought your Bitcoin and cryptocurrencies from a certain exchange, the worst mistake you can make probably is to keep it in that exchange because that exchange could go **`bankrupt or get hacked.`**

Now, instead of keeping the cryptocurrencies in the exchange which is unsafe, the better or safer thing to do is actually to*** transfer the cryptocurrencies to a secure wallet like Trezor.*** I think it's a secure place to keep the cryptocurrencies in a secure wallet.
<center>![Trezor-Redesigns-Wallet-Interface-and-Adds-Advanced-Recovery-Feature.png](https://steemitimages.com/DQmSqXRKq2EsMNLU6vBLexpGNQ29aKGqYNKL1G97BCbm7e8/Trezor-Redesigns-Wallet-Interface-and-Adds-Advanced-Recovery-Feature.png)</center>
<center>[Image Credits](https://news.bitcoin.com/wp-content/uploads/2017/03/Trezor-Redesigns-Wallet-Interface-and-Adds-Advanced-Recovery-Feature.png)</center>

# Mistake Number 02
<b/>

You should never invest any more than you could lose in Bitcoin and cryptocurrencies and believe it or not, that actually was a great advice given by a millionaire Bitcoin investor himself.

He said,

> Never put any money into cryptocurrencies or Bitcoin that you could stand to lose.

<center>![article-2311641-11D7D0F5000005DC-388_634x396.jpg](https://steemitimages.com/DQmY2cpdZeuB7DN3pedQnSUgVRJc8BibmPAy4aB9eAS2pqY/article-2311641-11D7D0F5000005DC-388_634x396.jpg)</center>
<center>[Image Credits](http://i.dailymail.co.uk/i/pix/2013/04/22/article-2311641-11D7D0F5000005DC-388_634x396.jpg)</center>

# Mistake Number 03
<b/>

Always have an exit strategy. Now that option may not be so cool or popular with Bitcoin investors especially those are hardcore Bitcoin investors or crypto investors. 

However, even professional investors agree that ***you should always know when to get out or did exit the market if things are not going your way to reduce your downside risk.***
<center>![02_2018_small_business.jpg](https://steemitimages.com/DQmRr8uPE7ADtx93dgoAiLHbCbjeFAaUkJP7JRLJcfxX48z/02_2018_small_business.jpg)</center>
<center>[Image Credits](http://sfmagazine.com/wp-content/uploads/2018/01/02_2018_small_business.jpg)</center>

Now, one great way to reduce your risk and indeed limit your losses is to use a stop loss and what you could do, for example, is look at the charts and say if the price falls below a certain level, therefore I am going to exit my position.
<center>![Untitled.png](https://steemitimages.com/DQmdCwNyDexFJSBL6vTBwkG8jMb2rMYmHunJULozRy1C2bP/Untitled.png)</center>

Another great exit strategy is to use a percentage stop loss. For example, if the market you're investing in, falls by percentage, you can sale getting out of the market.

By the way remember, exiting does not mean that you're out forever, you can always re-enter and get back into the market.

<center>![ezgif.com-video-to-gif.gif](https://steemitimages.com/DQmZF6pk83By7uAWVjnWsbdD6SBpv7QrKsJFSmqEpV9JxX4/ezgif.com-video-to-gif.gif)</center>

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<b/>
[Cryptocurrency Market: Is the Crypto Market Back?](https://steemit.com/cryptocurrencies/@aftabkhan10/cryptocurrency-market-is-the-crypto-market-back)
[We Should Get Ourselves Prepared For Avoiding Bitcoin's Worst Case Scenario](https://steemit.com/bitcoin/@aftabkhan10/we-should-get-ourselves-prepared-for-avoiding-bitcoin-s-worst-case-scenario)
[Seems Like Cryptos Are Leaving Bitcoin Behind](https://steemit.com/bitcoin/@aftabkhan10/seems-like-cryptos-are-leaving-bitcoin-behind)
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[Steemit Statiscs For March 2018: This is why I Believe In @dTube](https://steemit.com/dtube/@aftabkhan10/steemit-statiscs-for-march-2018-this-is-why-i-believe-in-dtube)