Newbies in the Crypto World, Beware of Pitfalls! When I first entered the crypto world, I naively thought that as long as I chose a 'rising coin', I could get rich quickly. Later, I realized that what truly determines whether you can make money is how many pitfalls you avoided. Here are 5 common pitfalls I personally experienced and summarized:👇

❌ 1. Listening to 'teachers' calling shots, only to end up being 'sent to slaughter'. Many 'teachers' in groups appear to help you make money without charging fees, but you should know that there is no free lunch in the world. Free things can be more expensive.

Suggestion: DYOR (Do Your Own Research), don't blindly follow others!

❌2. Jumping straight into contracts, only to get liquidated. Newbies are easily tempted by high returns, using leverage to chase ups and downs, ending in disaster.

Suggestion: Start with spot trading, understand the basic rules before considering contracts, don’t gamble your life right away.

❌ 3. Seeking cheap deals at unknown exchanges, only to have assets hacked. Low fees might seem attractive, but they are often not legitimate; once you have trouble withdrawing or they run away, you won’t have a place to file a complaint. Rogue exchanges cause significant harm!

Suggestion: Only use mainstream exchanges like Binance, OKX, etc. (recommended to use safe entry points with rebates)

❌ 4. Blindly following trends without judgment. Seeing a coin suddenly rise by 10%, and everyone in your circle is talking about it, you rush in, only to buy at a high point and get stuck.

Suggestion: Trends ≠ opportunities, always have your own judgment, don’t be the last one to take the bait.

❌ 5. Being fooled by 'xx coin will skyrocket soon', investing in a scam coin. Scam coins have no projects, no teams, and no uses, relying only on a bunch of people calling shots and making empty promises, ending up in disaster.

Suggestion: Look at the coin’s background first, the team + white paper + actual application are all essential.

💡 Finally, here’s a message for every newbie in the crypto world: 'The money you earn is the realization of your understanding; the money you lose is the tuition for your ignorance.' You can take it slow, but don’t rush blindly; you can start with small amounts, but be aware of safety. Newbies shouldn’t fear being slow, but they should fear being blind!