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A must-read for newcomers in the crypto space! Avoid pitfalls and take fewer detours!
1. Stay away from small cryptocurrencies
Most small cryptocurrencies are 'scams' and can easily go to zero or drop by 99%. Choosing mainstream cryptocurrencies is safer.
2. Lower expectations
The era of tenfold or hundredfold returns is over; nowadays, doubling your investment is already a challenge. Newbies who don't lose are winning; they can beat 90% of people.
3. Be cautious in choosing storage methods
For large amounts of money, it's advisable to use hardware wallets; exchanges carry risks, and unknown wallets may disappear.
4. Avoid ultra-short-term trading
The crypto market is highly volatile, and it's difficult to control risks in the short term. Holding mainstream coins is more secure.
5. Set stop-loss and take-profit levels
Define your target levels and execute decisively when they are reached, avoiding greed or panic.
6. Don't invest all your funds
Only use disposable income to enter the market; control your risks, and start with small amounts.
7. Keep learning
Your understanding determines your returns. Continuously learn to improve your knowledge and avoid making profits only to lose them back.
The cryptocurrency world is filled with both risks and opportunities; stay calm and rational, and respond to market fluctuations with a steady strategy!
#v Mercedes-Btc
$XRP $PEPE $HIVE