🚀 Beginner's Guide to Cryptocurrency | Avoid 99% of Pitfalls! 1. Basic Understanding: Understand 3 Core Concepts
Blockchain: A globally public "ledger," data is transparent and immutable, serving as the basis for technologies like Bitcoin and Ethereum.
Mainstream Cryptocurrencies:
Bitcoin (BTC): Digital gold, the preferred choice for inflation resistance, with lower long-term holding risks.
Ethereum (ETH): Smart contract platform that supports DeFi, NFTs, and other ecosystems.
Key Terms:
Gas Fee: On-chain transaction fee, confirm the real-time rate before transferring.
DeFi/NFT: Decentralized finance and digital asset certificates, it is recommended to start with staking and exchanges.
2. Practical First Step: Choose a Safe Trading Platform
Recommended Exchanges:
Binance: The largest globally, supports fiat deposits, beginner-friendly.
OKX: Comprehensive Chinese interface, provides spot, futures, and other functionalities.
Gate.io: Transparent fund reserves, suitable for small-scale testing.
3. First Purchase of Cryptocurrency: 4 Steps
Fiat Deposit: Buy USDT (pegged 1:1 to USD) through Alipay/bank card.
Purchase Mainstream Coins:
70% of funds in BTC/ETH, 20% in platform coins (like BNB), 10% exploring potential coins.
Use "Market Order" for quick transactions to avoid limit order slippage risks.
Small Scale Testing: It is recommended not to invest more than 5% of liquid funds initially.
4. Risk Management: Avoid Becoming a "Lamb"
Position Allocation:
70% in Mainstream Coins + 20% in Potential Coins + 10% in Cash.
Dollar-Cost Averaging Strategy: Buy BTC/ETH on a fixed date each month to average costs.
Take Profit and Stop Loss:
Sell in batches at 30% profit, enforce stop loss at 15% loss.
Use Binance's "Conditional Order" and OKX's "Strategy Trading" for automated operations.
Pitfall Avoidance Guide:
Stay away from high-leverage contracts (newbies have a liquidation rate over 95%).
Beware of “hundred times returns” shitcoins, 99% are scam projects.
Special Reminder
⚠️ Must-Read for Newcomers:
Only invest spare money, be mentally prepared for total loss.
Reject FOMO (fear of missing out), do not panic during crashes, and do not chase highs during surges.
Withdraw profits regularly, recoup capital before snowballing investments.
