Newcomers in the Cryptocurrency World Should Avoid These 3 Money-Sucking Beasts to Take Their First Step Steadily!
Just entering the cryptocurrency world, do you feel dazzled, with tales of sudden wealth everywhere, and vaguely hear the wails of the inexperienced?
Don't panic! To survive and thrive in the crypto world, avoiding a few fatal pitfalls at the beginning is a thousand times more important than blindly rushing in to find a hundredfold coin! This experience, gained through hard-earned money, will help you land safely:
1. Don't rush to go all in; sharpen your knife first!
The biggest pitfall for beginners is being controlled by FOMO, going all in without understanding anything. Blockchain principles, wallet security, trading pairs, candlestick basics, project analysis, information channels—these are not electives; they are your lifelines! Trust me, knowledge is your first moat against the scythe. The more solidly you learn now, the less tuition you will pay later (don’t ask me how I know...)
2. Contracts? That's bungee jumping on the edge of a cliff; beginners should steer clear!
Seeing someone in the group flaunting a hundredfold contract? Tempted? STOP! Beginners should engrave this phrase in their minds: Contracts are not printing machines; they are meat grinders! Regardless of which big shot you hear about getting rich from contracts, behind them, there are definitely tenfold or even hundredfold people who went bankrupt because of it.
High leverage, liquidation, margin call... these terms hide an endless abyss. For beginners, spot trading (honestly buying coins) is the only choice! First, learn to walk on flat ground before challenging the high wire.
Steady and solid, holding onto value is the way to go. Don’t let the fantasy of overnight wealth ruin the capital you’ve worked so hard to accumulate.
3. Beware of the temptation of altcoins! Stay away from the zero value black hole!
Wow! This coin has a cool name and the project looks flashy for just a few cents? Buy it! Stop right there! 90% of small coins in the crypto world are essentially cleverly designed harvesting machines for the inexperienced. They may be packaged beautifully, but a single bad news or market fluctuation can cause the price to plummet by 99% or even to zero instantly!
Beginners must remember: only recognize mainstream coins! BTC, ETH—these are hard currencies tested by the winds and waves. Although their rises may not be as thrilling, at least they won’t let you wake up one day to find your assets evaporated.
Avoiding these three major pitfalls, congratulations, you have successfully navigated through the highest mortality rate minefield for newcomers in the crypto world!
For those confused about trading, wanting to recover losses, or hoping to double their accounts, stay close to Yi An for early positioning. Enjoy the market's appetizers, not the leftovers!
