I opened my crypto wallet after a few months and the numbers were satisfying. Small, but satisfying. It took me back to the lessons that shaped my journey.
Like most people, I got into crypto because my peers were already in it. I was lucky though, because I got to learn from the mistakes they had already committed, having entered the space before me. Their losses became my lessons. I dodged a few traps, and ended up making fewer mistakes myself. And for that, I’m not complaining.
A few instances that helped me. One friend had put money on Vauld. When it collapsed, withdrawals were frozen and users were stuck in a long restructuring process. In the end, they only got a certain amount of their money back. Hearing that, I stayed away from Vauld.
Another warned me about WazirX. After the 2024 hack where over $200 million was stolen and withdrawals were paused, trust took a big hit. That was enough for me to decide not to put money there.
Then there’s Binance. It got blocked in India, the app disappeared from PlayStore, and many uninstalled it.
I didn’t, because my peers told me not to. Eventually, Binance paid its fines and came back. Sticking with it, and sticking with the big three (BNB, Bitcoin, Eth), has paid off.
Looking back, I’ve realized one thing, money journeys need not be solo. Numbers can change overnight, but stories stay. The mistakes, warnings, and hard-earned lessons of others often matter more than the charts. Without my peers, I would’ve made many more wrong moves. With them, I’ve made fewer.
For me, three takeaways stand out:
- Listen and learn from others. Don’t wait to burn your own fingers, learn from those who already did.
- DYOR. Always. Even if a friend suggests, read and understand before investing.
- Keep it simple and safe. Stick to trusted platforms and established coins. Avoid hype and quick-profit traps.
That’s the real value of community. Whether it’s crypto or money in general, we grow faster and safer when we learn from each other.
That’s the spirit behind Moneybar, a place to share, listen, and build financial wisdom together. Download the app, sign up, and be part of the conversations. Share your story, or learn from another’s.
Paweii Kayina
Founder@moneybar.in