Want to make money in the crypto world? First, face the reality!
This place is not an ATM; it's a slaughterhouse that specializes in harvesting newbies. I've seen too many people rush in without even knowing how to use a wallet, only to lose everything. If you really want to make money, at least you need to understand the basics: know what blockchain is, how to navigate the tricks of exchanges, and how to read candlestick charts.
The way you trade cryptocurrencies is very important; don’t believe everything you hear. Don’t mock those trading contracts just because you play spot, and don’t look down on those buying altcoins if you are trading contracts. Spot trading is stable, but in a bull market, you can't outrun the big players; contract trading is exciting and you might multiply your investment tenfold in three days, but you might also find yourself on the roof in three days. The key is to find a method that suits you.
Time is your best friend. Holding onto Bitcoin is definitely a good choice, but don’t be foolish and hold it indefinitely. In a bull market, sell 10% every time it rises by 50%, and in a bear market, start accumulating when it drops by 30%. This is the way of the smart; it ensures you don’t miss out on opportunities while avoiding rollercoaster rides.
Risk control is your lifeline! I’ve seen someone turn 5 million into 50,000 just because they did three stupid things: going all-in, using 100x leverage, and stubbornly holding on without cutting losses. Remember, it’s best to withdraw your principal early and play with profits. If you keep the green mountains, you don’t need to fear not having firewood.
Asset allocation is also crucial. Mainstream coins are like a wife; you should treat them well. Altcoins are just for fun. Those who know how to play do it this way: allocate 70% to reliable coins like Bitcoin and Ethereum, 20% to promising public chains, and the remaining 10% to play around with altcoins for enjoyment. This way, you are both stable and have the chance to take risks.
Lastly, to be frank, there are only two types of people who can make money in the crypto world: either those with strong execution who act decisively, or those who can endure 10 more minutes than others. Which one are you? Don’t just observe without practicing; adjust your strategy now. Remember, in this market, you either learn and grow or get harvested and eliminated; there is no third path!
One tree cannot make a forest; a solitary sail cannot travel far! In the crypto world, if you do not have a good circle or insider information, I suggest you follow me, and I will lead you to shore. Welcome to join the team!!!