Is it true that making money in cryptocurrency is all about luck? I don't agree! After years of struggling in the crypto space, today I will explain the real ways to make money, and if you follow this, you can definitely avoid a lot of detours!
1. Short-term fluctuations are smoke screens; focus on the big trend.
In the crypto world, experiencing the thrill of roller coasters in a single day, with price increases of 20% and decreases of 30% is not uncommon. But if you follow the price's ups and downs, chasing rises and falls, how is that different from gambling? Look at Bitcoin; even after countless crashes in its more than a decade of existence, it looks like a wild ride when viewed overall. So, don't be dazzled by short-term K-line fluctuations; long-term trends are the way to go.
2. Following the crowd to buy coins is just handing over your head to the scythe.
Every day there are new coins and projects popping up, and just a few words of 'insider information' in the group can mislead people. Remember! No matter how impressive others may sound, it's better to do your own research. First, investigate the background of the project team, then check if the plans in the white paper can be realized, and finally consider whether this thing has real application scenarios. Do your homework before taking action to avoid 90% of the pitfalls.
3. Going all in feels good for a moment, but leads to total loss.
There are always people who go all in with a 'get rich quick' mentality, only to end up losing everything when the project crashes. Diversified investment is the life-saving charm! Set aside a portion of money to buy mainstream coins like Bitcoin and Ethereum to establish a base, and then use a small percentage of funds to gamble on potential new coins. If it doesn't work on one side, it can still stabilize the fundamentals on the other.
4. Technical analysis is a tool, not a prophecy.
Indicators like K-line charts and MACD can indeed help you judge short-term trends, but don't be overly reliant on them! The market is not a machine; a sudden news event or the trading actions of whales can break technical rules in an instant. Just when you think a coin is about to rise, regulatory policies could come out and crash it instead.
5. When it comes to making money, slow is fast.
Feeling envious when seeing others make money and frequently chasing rises and falls? This is the most common pitfall for beginners! Those who truly know how to play are waiting for opportunities—buying when the projects they believe in are corrected to lower costs; when the coins they hold slow down in growth, they don’t rush to sell but patiently wait for the trend to become clear. Wealth accumulation relies on a steady flow, not overnight riches.
6. Building a car behind closed doors is equivalent to slow suicide.
The cryptocurrency world is changing every day! New projects, new ways to play, and new policies are emerging endlessly. Recently, the SEC shifted from 'enforcement priority' to 'clear rules.' How many opportunities and risks are hidden behind this? If you don't pay attention to industry dynamics, you won't even know how your coins died. Read industry news more often and communicate with insiders to catch the wind.
7. Free lunch is always a bait.
When you see phrases like 'free airdrop' and '100% annual returns,' block them immediately! Remember, there's no such thing as a free lunch; high return promises are inevitably linked to high risks. Those who claim to help you make money are likely eyeing your principal. Guard your wallet and protect your capital—it’s more important than anything!
Ultimately, mixing in the cryptocurrency world is not about luck but about understanding. Grasp these 7 pieces of experience, combined with time accumulation, and making money really isn't that difficult! If brothers have other practical insights, let's chat in the comments, and we can make money together!
