Treating All Cryptocurrencies the Same: Many individuals lump all cryptocurrencies together without recognizing their differences. In reality, different cryptocurrencies have distinct technologies, purposes, and risk profiles, requiring investors to conduct proper research and due diligence.

Assuming Cryptocurrencies are Completely Anonymous: While cryptocurrencies offer some level of anonymity, not all cryptocurrency transactions are entirely anonymous. Certain transactions can be traced back to specific users, meaning users may not have as much privacy as they think. 

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