1. Basic understanding: First understand 3 core concepts before entering the market!
1. Blockchain: The 'foundation' of the crypto world
In simple terms, blockchain is a globally public 'super ledger'—all transaction data is transparent and traceable, and once recorded, it cannot be altered. Cryptocurrencies like Bitcoin and Ethereum rely on it to ensure security and fairness.
2. Mainstream cryptocurrencies: Beginners should hold these 2 'lifesaver' coins tightly
Bitcoin (BTC): Known as 'digital gold,' it has strong anti-inflation properties, relatively low long-term holding risk, and is suitable as the first investment.
Ethereum (ETH): Not only a coin, but also a 'smart contract platform,' supporting most of the crypto ecosystem including DeFi (decentralized finance) and NFT (digital collectibles). Its potential and volatility are greater than BTC.
3. Essential terms: Don't be scared off by 'crypto jargon'
Gas fees: The transaction fees for on-chain transfers (like the delivery fee for a courier). Always check real-time rates before transferring; during peak times, they can be outrageously high!
DeFi/NFT: The former is 'decentralized finance' (like earning interest on staked coins), while the latter is 'digital asset credentials' (like artwork on the blockchain). Beginners are advised to start with 'staking' on the exchange before diving into complex plays.
2. Practical first step: Choose the right platform, which is equivalent to avoiding 50% of pitfalls
3 major beginner-friendly exchanges (with core advantages)
Binance: The exchange with the most global users, supports direct purchases of coins with Alipay / bank cards, has a simple interface, comprehensive beginner tutorials, suitable for those new to cryptocurrencies.
OKX: Chinese language support is in place, besides buying coins, you can also view market trends and learn knowledge. It has complete spot and financial management functions, so you don't have to switch platforms when you advance.
Gate.io: Transparent fund reserves, suitable for small trial investments, can be prioritized by beginners who care about 'small fund safety.'
Pitfall reminder: Stay away from any 'unlicensed niche platforms'; 90% of exit scams and theft incidents occur in these places!
3. First-time buying coins: 4 steps to steady success
Fiat currency deposits: First exchange for 'universal currency in the crypto world'
Use Alipay / bank cards to buy USDT (pegged 1:1 to the dollar, equivalent to 'cash in the crypto world'), which is more flexible than buying BTC/ETH directly and makes it easier to exchange for other coins.Fund allocation: Buy according to the '721 rule'
70% buy BTC/ETH (base investment, risk resistance)
20% buy platform tokens (like BNB, grow with the exchange, moderate volatility)
10% buy potential coins (small trials, no heartache if you lose)
Order placement tips: Beginners shouldn't play 'fancy moves'
Directly use 'market orders' (immediate execution at current prices), don't use 'limit orders' (filling in prices and waiting for execution) — beginners are prone to fill in the wrong prices, resulting in either not buying or buying at a higher price (slippage risk).Amount control: Don't exceed 'pocket money' on your first try
Invest no more than 5% of your liquid funds (for example, if your monthly living expenses are 5000, spend a maximum of 250 to try it out), first feel the market fluctuations, and then slowly increase your position.
4. Asset safety: You must understand these 2 types of wallets
Short-term trading: Just use the exchange wallet
Convenient and fast, but don't keep large assets there for long (exchanges also have theft risks, like the coin theft incident on a certain platform in 2022).Long-term holding: Use a combination of hot and cold wallets
Hot wallets: MetaMask (little fox), Trust Wallet, usable on mobile/computer, suitable for storing small amounts and daily transfers (like storing a few thousand dollars of ETH).
Cold wallets: Ledger, Trezor, like a 'USB drive,' for physical offline storage. Large assets (like over 50,000) must use this for maximum security.
Remember: Wallet private key = your money! Don't store it in mobile notes or WeChat favorites; it's best to write it down on paper and hide it well!
5. Risk management: The 'only rule' for beginners to survive
1. Position allocation: Always leave 'lifesaver' funds
70% mainstream coins + 20% potential coins + 10% cash (USDT) — cash allows you to buy the dip during a crash and avoid the despair of being 'fully invested and trapped.'
2. Dollar-cost averaging strategy: A 'magic tool' for beginners to resist volatility
Buy BTC/ETH on a fixed day each month (like payday), buy a little regardless of price fluctuations, and over time, this can average your costs, making it 10 times more stable than 'chasing highs and cutting losses.'
3. Take profit and stop loss: Insure profits and set a bottom line for losses
If you profit over 30%, sell in batches (for example, sell half when it rises 50% to secure your gains);
If you lose 15%, decisively cut losses (don't fantasize about 'a rebound'; 90% of beginners will get liquidated).
Lazy trick: Use Binance's 'conditional orders' or OKX's 'strategy trading' to set up automatic buying and selling without monitoring the market.
4. The absolute 'death zone' you must avoid
High-leverage contracts: Beginners playing this will lose 95% of their funds within a month (don't believe the nonsense of 'small bets can lead to big wins');
'Hundredfold returns' shitcoins: 99% are scams, they run away after a pump, and you can't outrun the market makers;
Private transfers to buy coins: Anyone, including 'customer service' or 'big shots,' who asks you to transfer money to a personal account is a scammer!
For beginners, slow is fast. Spend 1 month understanding the basics, then try small amounts for trial and error, which is more reliable than going all in immediately. Remember: The prerequisite for making big money in the crypto world is to first learn 'not to lose big money.'
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