Coin ⭕ Newbies want to avoid being scammed. Listen to the advice guide for newbies in the crypto world to quickly avoid pitfalls!
When I first entered the crypto world, I naively thought— as long as I choose a "coin that will rise," I can become rich overnight.
Later I realized that what truly determines whether you can make money is how many pitfalls you avoid. Below are 5 common major pitfalls I experienced and summarized as a crypto newbie 👇
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❌ 1. Listening to "teachers" calling trades, only to end up as "sacrificial lambs" Many "teachers" in groups appear to help you make money, but in reality, they rely on your trades to earn commissions or preemptively set you up for losses. You should know if a "teacher" could really make money, they would have already made their family wealthy, why would they bring you along?! Suggestion: DYOR (Do Your Own Research), do not blindly follow trades!
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❌ 2. Jumping straight into contracts, resulting in liquidation Newbies are most easily tempted by high returns, leveraging to chase highs and sell lows, ultimately resulting in a mess. Suggestion: Start with spot trading, understand the basic rules before considering contracts, don’t gamble your life from the start.
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❌ 3. Going for cheap deals at unknown exchanges, resulting in asset theft Seeing low fees, they are often not legitimate, and once withdrawal is difficult or they run away, you won’t even have a place to appeal. Rogue exchanges can cause serious harm! Suggestion: Only use mainstream exchanges, such as Binance, OKX, etc. (recommended safe entry with commissions)
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❌ 4. Jumping on trends blindly, chasing hot topics Seeing a certain coin suddenly rise by 10%, everyone in the circle is talking about it, and rushing in only to buy at the peak. Suggestion: Trends ≠ opportunities, you must have your own judgment, don’t be the last one to pick up the tab.
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❌ 5. Being fooled by "xx coin will surge soon", investing in a scam coin Scam coins have no projects, no teams, no uses, relying solely on a bunch of people calling trades and making empty promises, resulting in a mess. Suggestion: Check the coin's background first, team + whitepaper + real application are all essential.
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💡 Finally, I want to give every crypto newbie a piece of advice: "The money you earn is the realization of your understanding; the money you lose is the tuition for your understanding." You can take it slow, but don’t rush blindly; you can start with small amounts, but be safety-conscious. Newbies shouldn’t fear going slow, the biggest fear is being blind!
