Many friends who are just starting to get into the crypto world often ask: 'How do I get started? Have I missed the best time?' In fact, now is a great time to learn! You don't need to master everything at once; just grasp these 6 basic concepts first to avoid most common mistakes made by newcomers.
⸻ 1. What exactly is being bought in the crypto world? The 'coins' in the crypto world are not just Bitcoin. Common ones also include Ethereum, Solana, LTC, etc. But newcomers only need to remember one thing: start with mainstream coins. Bitcoin (BTC) and Ethereum (ETH) are recognized as the 'leaders' in the industry, with high market capitalization, fast circulation, and relatively mild fluctuations, making them suitable as starting points for learning. It is advisable to avoid newly launched, suddenly popular small coins, as many people have lost money by 'chasing fads'.
⸻ 2. Which platform to choose? Buying and selling in the crypto world is done on 'exchanges', simply understood as the 'securities companies' of digital currencies. Common large platforms include: Binance, OKX, Huobi; these three have a good reputation globally. Don’t be tempted by the 'low fees' of small platforms; safety is the most important thing, as this is the 'gateway' for your funds.
⸻ 3. What is USDT? Why does everyone use it? In the crypto world, USDT is a stablecoin pegged to the US dollar, used as a 'transitional role' in trading. You can’t buy Bitcoin with RMB directly, but you can exchange it for USDT and then use it to buy BTC, ETH, etc. Similarly, when selling, you should first exchange it for USDT and then withdraw it in RMB. In summary: USDT is the bridge for trading in the crypto world; without it, there is no circulation.
⸻ 4. How high are the risks in the crypto world? The volatility in the crypto world is very fast, and a single day’s drop can exceed a month’s drop in traditional stock markets. At the same time, it is a 24-hour market, with unlimited rise and fall, and emotional fluctuations can be amplified. Many people initially hear about the possibility of 'getting rich quickly', but the ones who really make money are those who control risks. Newcomers must remember one thing: it's better to earn slowly than to lose quickly.
⸻ 5. Why should you 'stay away from contracts'? Contracts are a leveraged play, simply put, it's using 100 to control 1000, which rises quickly but falls even faster. For newcomers, contracts may seem tempting, but they are extremely dangerous; a slight misstep could lead to liquidation. The vast majority of experienced players would advise: just do spot trading at the beginning, as it is the most controllable risk and suitable for accumulating experience.
⸻ 6. Is it too late to enter the market now? Many people are worried that they have already 'missed the boat', but in fact, digital currencies are still in the early stages and still have room for growth in the long term. The key is to clarify your own goals: • Want to make a quick fortune? Not recommended, the risk is extremely high. • Want to gradually accumulate assets? Dollar-cost averaging + long-term holding is the path more suitable for ordinary people.
😎 No matter if you are curious, observing, or preparing to learn seriously, the most important thing is: don’t act impulsively or blindly. The crypto world is not short of opportunities; what it lacks are people who can make calm judgments.