For newcomers to the cryptocurrency world, it is strongly recommended to start learning with spot trading, and only consider contracts once fully mastered.
1. Why is spot trading more suitable for newcomers?
1. Risk Level
Spot: Maximum loss = Principal goes to zero (e.g., with 1000 yuan, the maximum loss is 1000 yuan)
Contract: Potential liquidation and debt (the higher the leverage, the greater the risk; a 10x leverage with a 10% drop results in a 100% loss)
2. Learning Curve
Spot requires mastery of:
✅ Buying and selling operations
✅ Basic market analysis
✅ Wallet transfers
Contracts require additional mastery of:
❗️ Leverage selection
❗️ Margin calculation
❗️ Liquidation price alerts
❗️ Funding rate arbitrage
3. Psychological Impact
Spot price fluctuations are relatively mild, suitable for cultivating market perception.
Contract's severe fluctuations can lead to emotional trading (a common fatal flaw for newcomers).
2. Hidden thresholds of contracts (often overlooked by newcomers)
1. Differences in exchange mechanisms
Differences between full position and isolated position modes
Differences between U-based and coin-based contracts
Differences between mark price and last price
2. Hidden costs
Funding rates (charged every 8 hours, long-term holdings can accumulate high costs)
Slippage issues (small price differences can trigger liquidation under high leverage)
3. Strategy Complexity
Simple spot strategies: dollar-cost averaging, phased profit-taking
Contracts require strategies such as: hedging, grid trading, swing trading, etc.
3. Suggested learning path (in phases)
Phase 1: Basics of spot trading (1-3 months)
Essential learning content
Buy BTC/ETH on an exchange (recommended: Binance/OKX)
Learn to check the rankings of the top 50 tokens on CoinMarketCap
Understand basic indicators such as market cap, circulating supply, trading volume, etc.
Practical goals
Complete more than 10 spot trades
Try to transfer tokens from the exchange to a wallet
Practical goals
Phase 2: Attempting contracts (after 6 months)
Prerequisites
Consistent profits from spot trading for more than 3 months
Able to accurately explain concepts such as 'funding rate' and 'liquidation price'
Safety strategies
Initially use leverage below 5x
Single trades not exceeding 2% of principal
Must set stop-loss
Establish your own trading discipline (e.g., profit-taking and stop-loss rules)
Participate in a bull market cycle to observe market sentiment
4. Key Recommendations
1. Start with a demo account
Both Binance and OKX have demo trading functions, it is recommended to simulate for at least 1 month before going live.
2. Beware of 'get-rich-quick traps'
Those who show profits from contracts on social media often do not display more liquidation records.
3. Remember two formulas
Spot loss speed: Principal × Price drop percentage
Contract loss speed: Principal × Leverage factor × Price drop percentage
5. Common questions from newcomers
Q: What should I do if I see others making tens of thousands on contracts in a day?
A: Statistics show that 98% of contract newcomers lose money within 6 months; survivor bias makes you only see the winners.
Q: When can I start learning contracts?
A: When you can answer the following questions:
Why does Bitcoin halving affect the price?
What is the Ethereum Gas fee mechanism?
How to judge whether a project's TVL is real?
Conclusion: The first essential rule of survival in the cryptocurrency world is to stay alive; spot trading is the best starting point for learning. When you have enough understanding of the market, contracts will naturally become a tool rather than a gamble.
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