Cryptocurrency can be exciting and liberating, but it can be confusing and risky if you're not careful. When I started investing in crypto from Cambodia, I jumped in with excitement but little preparation. Like many beginners, I fell for hype, ignored fundamentals, and underestimated how volatile the market could be.
If you're new to the space or considering making your first crypto investment, I want to share five crucial lessons I wish I knew earlier. These tips won’t guarantee profits but will help you avoid unnecessary mistakes and build a stronger foundation for your crypto journey.
1. Not All Exchanges Are Created Equal: Stick with Trusted Platforms
One of my first decisions, choosing where to buy crypto, was also one of the most important. Initially, I was tempted by local apps or smaller exchanges offering low fees and flashy promotions. However, many platforms lacked liquidity, customer support, and security.
I learned: Always trade on reputable exchanges with high liquidity and a proven track record. Big exchanges like Binance offer global liquidity, strong security measures, and an easy-to-use mobile app that works smoothly in Cambodia.
Large exchanges also make converting from USD or stablecoins to local currencies like Khmer Riel or USD cash-in services easier through local partners.
2. Volatility Is Real: Don’t Invest More Than You Can Afford to Lose
Everyone talks about how crypto prices "go up fast." Most beginners don't realize how quickly things can crash, too. When Bitcoin drops 20% daily, your entire portfolio can shrink before you have time to react.
In 2021, I invested much of my savings into a new altcoin. It doubled in a week and crashed by 90% the following month. I had no stop-loss, no exit plan, and worst of all, I invested money I couldn’t afford to lose.
What I wish I knew: Crypto is not a get-rich-quick scheme. It's a highly speculative market, and you must treat it as such.
3. DYOR: "Do Your Research" Is Not Just a Catchphrase
In Cambodia’s crypto community, especially on Facebook and Telegram, many influencers, groups, and "gurus" promote coins that promise significant returns. Unfortunately, many are scams, pump-and-dump schemes, or poorly researched recommendations.
In my early days, I followed random tips from chat groups without understanding what I was buying. Most of those tokens failed, and I lost money I could’ve saved.
Now, I always follow the principle of DYOR: Do Your Own Research.
Before investing in any token, I now check:
What does the project do?
Who is behind it?
Is the token audited or listed on major exchanges?
Does it have a real use case?
You don’t have to become a blockchain expert, but a few hours of research can save you from significant losses.
4. Secure Your Wallet. You Are Your Own Bank
In crypto, you are responsible for your assets. Unlike a bank, there’s no hotline to call if you lose your password or send coins to the wrong address. I learned this the hard way when I stored funds in a custodial wallet without enabling proper security. One phishing email later, and my account was emptied.
What I now know: Security is everything. Use trusted wallets (like hardware wallets for large amounts), enable 2FA, and never share your seed phrase or private key.
In Cambodia, many users still rely on mobile wallets or exchange wallets. That’s fine for small amounts or active trading, but consider a non-custodial Web3 wallet or a hardware wallet like Ledger for serious investments.
5. Patience Pays: Avoid the Fear of Missing Out (FOMO)
In Cambodia's fast-growing crypto scene, it's easy to feel you're always missing the "next big thing." Whether it's a meme coin trending on TikTok or a play-to-earn game promising 10x returns, FOMO (Fear of Missing Out) can push you to invest unthinkingly.
But some of my best decisions were those I didn’t make. Waiting, observing, and learning often saved me from bad investments. Crypto is full of opportunities; if you miss one, another will come.
What I learned is: you don’t need to chase every hype. Build a strategy, whether it's dollar-cost averaging (DCA), holding blue-chip tokens like BTC/ETH, or exploring DeFi step-by-step.
Investing in crypto can be a game-changer, especially in Cambodia, where financial access is still limited. With the right tools, knowledge, and mindset, you can unlock opportunities in Web3, decentralized finance, and beyond.
But remember: crypto is still a high-risk, high-reward space. Take your time. Learn the basics. Surround yourself with reliable communities and never stop learning.
If I had known these five lessons before starting, I would’ve avoided a lot of stress, losses, and regret. Hopefully, they help you begin your journey with more clarity and confidence.
👉 Ready to start your crypto trading journey?
Create your Binance account today and join the next generation of professional day traders. Sign up here
Risk Disclaimer: Cryptocurrency prices are subject to high market risk and price volatility. You should only invest in products that you are familiar with and where you understand the associated risks. You should carefully consider your investment experience, financial situation, investment objectives and risk tolerance and consult an independent financial adviser prior to making any investment. This material should not be construed as financial advice. Past performance is not a reliable indicator of future performance. The value of your investment can go down as well as up, and you may not get back the amount you invested. You are solely responsible for your investment decisions.
#Crypto #Beginnersguide #Learn