Key pitfall to avoid is buying non-BTC crypto. We've all done it that is why I say don't do it. But if you want to go through the school of hard knocks its your choice.
Discussion
I don't see other crypto as too much worse than BTC, as I'm not a BTC purist. I think other block chains are better for different use cases. But, most of what I hold is BTC, so, yeah. I'm not going to lose out on anything.