Ten years ago, when I entered the cryptocurrency world, I was also dazzled by stories of sudden wealth.
I have seen mining machines sold by the pound, and I have seen exchanges pull the plug.
I have witnessed overnight riches and despair from rooftops.
I have seen thousands of coins launched at once and heard the wails of regulations.
After hitting zero six times, I gained 20 iron rules:
1. Only use spare money, do not borrow
Do not invest money that affects your life; leverage is just a way to lose.
2. Store coins in cold wallets
Exchanges are numbers, cold wallets are assets, and private keys should be stored separately.
3. Beware of airdrop investments
Check contract permissions and the fund pool; you focus on interest, while the operators focus on principal.
4. Stay away from contracts
100x leverage has a lower success rate than roulette; 95% of survivors only trade spot.
5. Look at on-chain data
Wallet movements from project teams and whale transactions are more honest than analysts.
6. Bull and bear strategies
Buy when the bear market breaks the 200-day moving average, sell when the bull market hits a new high.
7. Position allocation
60% mainstream + 30% leading coins + 10% altcoins, do not exceed 30% in a single coin.
8. Set stop-loss and take profit
Cut losses at 15%, withdraw principal after 100% profit, and do not act emotionally.
9. Avoid dubious coins
Market cap < 100 million is a Ponzi scheme; do not touch MEME coins.
10. Do not trust pump signals
Those who really make money stay silent; those who flaunt their gains are either harvesting or waiting to sell.
11. Act contrary to news
Good news often leads to bad outcomes; build positions in panic, as news is a tool for selling.
12. Test small amounts across chains
Wrong chain transfers and wrong addresses consume 1 billion annually; start with small funds to test.
13. Learn in a bear market
Study wallet security and contract audits; this knowledge can save lives.
14. Look at the market less
Frequent monitoring leads to chaotic trading; three key decisions per month is sufficient.
15. Be cautious with new concepts
From IEOs to the metaverse, new concepts often result in more losses.
16. Keep transaction records
Archive deposits, withdrawals, and transfer hashes, as they may serve as evidence.
17. Be careful with mining and selling
Impermanent loss is real; when high-yield pools collapse, your principal can vanish in seconds.
18. Filter information
90% of 'insider' news is a smokescreen; trust on-chain data.
19. Clear authorizations
Use revoke.cash to clear DApp authorizations monthly to prevent theft.
20. Respect the market
From Mentougou to FTX, black swans will always come—staying alive is the most important thing.
Newcomers remember:
There is no password in the crypto world, only survivors. The one who lives long is the winner.
Tinkering alone will never lead to opportunities; follow me for insights on tenfold potential coins! Holding top-tier primary market resources!