Three thousand yuan = over four hundred U. It's unrealistic to think that investing in Bitcoin and Ethereum will lead to 1 million;
However, if you divide it into 10 U per share, whether you're using it for contracts or other purposes, you can start 40 times — or you can choose not to restart at all, as long as you set a good stop-loss.
I have written very detailed thoughts and insights before, here I will only emphasize a few key points:
By dividing funds into multiple portions, you can increase your risk resistance. Blindly rushing into one path is a highly error-prone behavior. Mainstream coins in spot trading do not have that much room for multiplication, altcoins can easily go to zero, and contracts can easily get liquidated if not calculated properly, or if there's a mistake (like adding an extra 0 in position size);
Keep learning. Basic knowledge in various aspects, such as what each coin represents, the difference between leveraged trading and contract trading, how to calculate liquidation price, what is funding rate... Whether it's spot trading, contracts, or airdrops, try to learn as much as possible. The more basic knowledge you have, the more choices you will have. Since you want to multiply your investment at low cost, investing time is crucial;
Practice more. Whether it's earning your first pot of gold through airdrops or contracts, you need a lot of screen time to familiarize yourself with the market — this is why I recommend short-term trading. The holding period is short, so the losses are controllable; the crypto market is highly volatile, thus providing room for short-term operations; contract fees are lower than spot trading, which can reduce costs; as a high liquidity existence in the crypto market, it allows you to quickly accumulate basic knowledge (and practice controlling your greed) to avoid pitfalls;
4. Strict stop-loss. Establish stop-loss rules and stick to them. Losing everything in the crypto market can be avoided with stop-loss.
If you don't know how to set a stop-loss, you can refer to the following one-two-three rules:
Newcomers should not allocate more than 10% of their total savings in the cryptocurrency market;
Daily stop-loss limit should not exceed 20% of your total cryptocurrency assets;
Each trade should not exceed 30% of the daily stop-loss.
After being able to stabilize profits (continuously for at least 6 months, participating in the market weekly without a loss month), you can adjust your stop-loss according to your situation; however, the adjustment of stop-loss should never happen when you are losing on the same day (but thinking 'this seems to be an opportunity, it would be a pity not to act').
Some people now believe that we are in the initial bull market, while others think the bull market will not start until 2024-2025. But in any case, the current market environment is not the most friendly. Even if I personally want to turn my remaining 10 U into 100w RMB again, the time it will take will definitely exceed before (although my level is much higher now); however, the experience accumulated during a bear market will help you seize opportunities better when the bull market arrives — whether it's contracts, spot trading, airdrops, or selecting low-quality projects, all of these apply.
As for holding Bitcoin and Ethereum, and investing in mainstream coins, this is considered more stable, and it saves a lot of time compared to contracts. You can do these after you have built your assets to six figures.
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