Wake up from the dream of getting rich quickly, the crypto market is not an ATM!
"Did Old Wang next door make a fortune trading coins and buy a house?" "A friend’s friend made 100 times in six months?"—Stop! Don’t get carried away! The myths of wealth in the crypto world are rampant, but there are far more losses behind them! Newbies’ first lesson: Use money you can afford to lose, consider it tuition! Don’t borrow, don’t gamble your emergency funds, or it’ll teach you a lesson in no time!
What is a wallet? What is an exchange? Understand clearly before getting involved!
Wallet = Your cryptocurrency asset 'safe' (split between online hot wallets and offline cold wallets for better security).
Exchange= The 'big supermarket' for buying and selling coins (choose reliable large platforms! News of small exchanges running away is not a legend).
⚠️ Blood and tears warning:Private keys (wallet passwords) must never be leaked! Screenshot and save to WeChat? NO! Write it down on paper and lock it in a drawer for the safest option!
Mainstream coins, altcoins, air coins... can't tell them apart?
Mainstream coins (BTC, ETH, etc.): The 'big brother' in the circle, strong consensus, relatively stable (note: relatively!).
Altcoins/Air coins:New projects popping up everywhere, slogans booming, 'hundredfold returns' painted big! Newbies are advisedLook more, act less, if you don't understand, just consider it a show!
Remember:If you don't understand a coin, not touching it is a win!
Buying coins like buying groceries? Understand order trading!
Buying coins on exchanges is not just about the listed price! You need to learn to 'place orders':
Limit order: Set a psychological price, only execute when it reaches (to avoid buying high and selling low).
Market order:Execute immediately at the current best price (use when in a hurry to buy/sell, but be careful of slippage).
Newbie tips:Place small limit orders to practice and control costs!
Risk control! Risk control! Risk control! Important things are worth saying three times!!!
Investing spare money: Emphasizing again, losing it all does not affect your life!
Position management: Don’t go All In! Spread your eggs in different baskets, pair mainstream coins with some small positions to explore.
Take profit and stop loss: Don't be greedy when you make a profit, set a line to secure it; don't hold on hard when losing, set your 'escape line' in advance!
Information bombardment: Don't trust group chats or influencers blindly! DYOR (Do Your Own Research), self-research is the way!
Mindset training: Don’t let K-lines control your life!
One day in the crypto world is like a year in the human world. Volatile rises and falls are normal, can't sleep while staring at your phone? That means your position is too heavy! Keep a calm mind, don’t be surprised by ups and downs, eat when you should eat, and sleep when you should sleep. Remember: Money that hasn’t been secured is not your money!
