10 Survival Tips for Newcomers in the Cryptocurrency World (8 Years of Hard-earned Experience)
1. Learn to Survive Before Learning to Make Money
First rule: Always only use money you can afford to lose (like 10% of your savings).
Don't borrow money to trade cryptocurrencies: Many people end up heavily in debt due to leverage liquidations and credit card advances.
2. Bitcoin and Ethereum are the 'Beginner's Village'
Don't jump straight into altcoins: 90% of altcoins will eventually go to zero; BTC and ETH will at least survive until the next cycle.
Dollar-cost averaging is safer than going all-in: Buy a little every month; don't think about making a fortune in one go.
3. Choosing an Exchange is More Important than Trading Strategy
Only choose top exchanges: Binance, OKX (smaller exchanges have a high risk of running away).
Withdraw funds to a wallet: Don't keep large assets in exchanges for the long term.
4. Recognize Scams: 99% of projects in the crypto world are scams
Beware of these signals:
✅ 'Guaranteed profit,' '100x coins,' 'insider information'
✅ Teachers in WeChat groups, Twitter influencers giving tips
✅ Projects locking up funds, team tokens secretly sold off
5. Don't FOMO (Fear of Missing Out)
In a bull market, there are explosive coins every day, but you can't catch them all.
6. Learn to Read Basic Data
Market Cap: How much is a coin worth?
Volume: Are people really buying?
Circulating Supply: Don't be fooled by 'trillions in total supply' (like SHIB).
7. Don't Touch Contracts (Leverage)
Newbies playing contracts is like giving away money: Exchanges love to take your liquidation orders.
If you must play: Don't exceed 3x leverage, and set stop losses.
8. Market Sentiment is Your Enemy
When others are fearful, I am greedy? Newbies often think 'the greedier others are, the greedier I should be.'
Simple strategy:
Is Weibo or WeChat group buzzing about a bull market? It might be a temporary top.
When everyone is shouting 'crypto scams,' it might be a bottom-buying opportunity.
9. Holding Long-term is More Profitable than Frequent Trading
Data shows: Those who bought BTC in 2020 and held for 4 years outperformed over 99% of short-term traders. Stop checking prices daily: The more you trade, the faster you lose.
10. There is No 'Wealth Code' in Crypto, Only Realizing Knowledge
If you don't understand why a coin is rising, you don't deserve to earn that money.
Remember: The ones making the most money in crypto are always the exchanges and project teams; retail investors are lucky to get a taste. Don't be greedy, surviving is winning.
