8; Altcoin Trap: Many people who are new to crypto currency mix Bitcoin with other shitcoins. They invest in this type of fraudulent shitcoin because they think they will make a profit very soon. As a result, they face a lot of losses. Bitcoin is a proven, trusted, decentralized and secure asset. It is not just a matter of making a profit by investing, but Bitcoin can also ensure the future security of a person and his family.
Many newbies wey dey enter into crypto no dey differentiate between Bitcoin and altcoin, because dem no really do research to learn about wetin dem wan enter. Dem just see the profit wey people get from crypto investment, and then dem just jump into the investment with their savings because of FOMO. That is the reason why many of them fall for altcoins and shitcoin investment. At some point, because of the hype wey dem hear about a certain coin, dem see the coin as their way to get rich very quickly.
The only way to avoid this altcoin trap as a newbie nah by doing your own research, and make sure you get reliable information from reliable sources. If you do good research, then you will understand the difference between Bitcoin and altcoins, and you will invest in the best (Bitcoin).