Must-read for newbies in the crypto world: 3 simple strategies to help you avoid pitfalls!
Are you new to the crypto world, looking at the soaring and plummeting numbers, feeling both excited and confused?
Don't worry, today I will share 3 simple but super practical strategies to help you avoid the most common traps for beginners!
Strategy 1: Dollar-cost averaging is more stable than going all-in
Many beginners jump in and go all-in, only to get caught at the peak. In fact, regularly investing a fixed amount is the safer choice. For example, invest 500 yuan each month in BTC or ETH; over the long term, your costs will average out, and you won't fear short-term fluctuations.
Strategy 2: Only play with top coins, avoid meme coins
Every day, hundreds of new coins pop up in the crypto world, and 99% of them are scams designed to fleece unsuspecting investors. Beginners should focus on top coins like BTC, ETH, and SOL; at least they won't go to zero overnight. Once you have more experience, you can consider smaller coins.
Strategy 3: Set profit-taking and stop-loss limits, don’t be greedy
Wanting to make more after making a profit, and being reluctant to cut losses, are human weaknesses. Set your profit-taking and stop-loss limits in advance to avoid emotional trading.
Do you know why most people still lose money during a bull market? Stay tuned, I'll tell you!
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