Which is more suitable for newcomers in the crypto world?
For newcomers in the crypto world, it is highly recommended to start learning with spot trading, and only consider contracts after fully mastering it.
1. Why is spot trading more suitable for newcomers?
1. Risk Level
Spot: Loss limit = Principal goes to zero (e.g., with 1000 yuan, the maximum loss is 1000 yuan)
Contract: Potential liquidation and owing money (the higher the leverage, the greater the risk; a 10% drop with 10x leverage equates to a 100% loss)
2. Learning Curve
Spot only requires mastering:
✅ Buying and selling operations
✅ Basic market analysis
✅ Wallet transfers
Contracts require additional mastery:
❗️ Leverage selection
❗️ Margin calculation
❗️ Liquidation price alerts
❗️ Funding rate arbitrage
3. Psychological Impact
Spot price fluctuations are relatively mild, suitable for developing market perception.
Contract volatility can easily lead to emotional trading (a common fatal flaw for newcomers).
2. Hidden Thresholds of Contracts (often overlooked by newcomers)
1. Differences in Exchange Mechanisms
Full position/Partial position model differences
Differences between USDT and coin-margined contracts
Differences between mark price and latest price
2. Hidden Costs
Funding rate (charged every 8 hours; long-term positions may accumulate high costs)
Slippage issues (small price differences trigger liquidation at high leverage)
3. Strategy Complexity
Simple spot strategies: Dollar-cost averaging, phased take-profit
Contracts require pairing with: Hedging, grid trading, swing trading, etc.
3. Suggested Learning Path (in phases)
Phase 1: Spot Basics (1-3 months)
Essential Content
Buy BTC/ETH on exchanges (recommended Binance/OKX)
Learn to check the top 50 tokens on CoinMarketCap
Understand basic indicators such as market cap, circulating supply, and trading volume
Practical Goals
Complete more than 10 spot trades
Try withdrawing tokens from the exchange to a wallet
Practical Goals
Phase 2: Contract Trials (after 6 months)
Prerequisites
Consistent profits in spot trading for more than 3 months
Able to accurately explain concepts such as 'funding rate' and 'liquidation price'
Safety Strategies
Initially use leverage below 5x
Do not exceed 2% of principal for a single trade
Must set stop-loss
Establish your own trading discipline (e.g., profit-taking and stop-loss rules)
Participate in a bull market cycle to observe market sentiment
4. Key Recommendations
1. Practice with a demo account first
Both Binance and OKX have simulated trading features; it is recommended to simulate for at least 1 month before trading live.
2. Beware of the 'Get Rich Quick Trap'
Those flaunting contract profits on social media often do not show their liquidation records.
3. Remember Two Formulas
Spot loss rate: Principal × Price drop percentage
Contract loss rate: Principal × Leverage × Price drop percentage
5. Common Questions from Newcomers
Q: What should I do if I see others making tens of thousands in contracts in a day?
A: Statistics show that 98% of contract newcomers lose money within 6 months; survivor bias makes you only see the winners.
Q: When can I start learning about contracts?
A: When you can answer the following questions:
Why does BTC halving affect the price?
What is the Gas fee mechanism of Ethereum?
How to determine if a project's TVL is real?
Summary: The number one rule for survival in the crypto world is to stay alive, and spot trading is the best starting point for learning. Once you have sufficient market knowledge, contracts will naturally become a tool rather than a gamble.
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