1. Preface
After much contemplation, I decided to title this 'My Cryptocurrency Strategy Guide' to share my thoughts and experiences in the crypto world over the years.
I am 27 years old this year, and I have been involved in the cryptocurrency space for 8 years, which makes me somewhat of an old-timer in this realm. Throughout this journey, the greatest gain has not been money, but perspective! Some might think this sounds very 'Versailles', but I grew up in Gansu, and from elementary school to university, I hardly ever visited far-off provinces. My family was quite poor during my childhood, but things changed significantly during high school, and we became relatively well-off. However, growing up in such an environment, my curiosity about emerging things surpassed what my surroundings allowed.
Before the main text begins, I want to write a poem that I saw a few years ago in a friend's circle, which left me with a lot of reflections! So I've kept it in my collection, the content is as follows—
(Received a bottle of wine sent from the neighboring city)
Wine is the tide of the heart
With great ambition, I applaud
The boat stranded here
2. The wonderful initial encounter with Bitcoin
I came across Bitcoin in 2017. At that time, I liked going to internet cafes to play games, occasionally browsing Tianya. It was during that period that I accidentally saw a post, which generally mentioned a brother playing a game saying he would sell his gear to buy Bitcoin (if he really did that, he might be one of the top figures in the crypto space now). My strong curiosity drove me to look up anything related to Bitcoin; although I subconsciously found it interesting, I was only aware of its appeal at the time. However, due to the limitations of my finances and the influence of traditional thinking, I was very cautious about anything related to money.
At that time, my thought could be summarized as—Bitcoin is somewhat interesting, but it is fake.
After so many years, I still feel that most people in the northwest have a conservative view towards money. The reason I use the term 'conservative' instead of 'backward' is that, to be honest, it's not easy for people here to earn money. Therefore, they tend to be very cautious regarding property appreciation or investment. Even a slightly larger expenditure requires a long consideration; they are reluctant to part with it.
3. Hearing again, I have become a chive person
My first investment in Bitcoin started in my senior year of high school. At that time, I didn't have much money to engage in these activities. To be honest, the negative news coverage about Bitcoin accounted for over 95% at that time, so when you boasted to friends about how many Bitcoins you held, they usually thought you were crazy or just someone who had no money but loved to mess around. After entering university, I had a bit of spare cash and started experimenting, buying some obscure altcoins and selling some promising quality coins. Perhaps during those years, I mainly did one thing: 'selecting the good and discarding the bad', offloading a significant amount of Bitcoin. Of course, at that time, I wouldn't discuss these things with others since they wouldn't understand.
When I first entered university, I went against my ideals by studying civil engineering. Although I still held a strong curiosity about cryptocurrencies, it was no longer the same as before. After experiencing the ups and downs of the market, you become numb and indifferent. Although you know that it's your money, when it's in that place, you just think, 'Let it be.' Later, I realized that if you lose your curiosity about things, it can appear in your life at any time, gradually making you mediocre.
4. Start learning and pioneering mode
After going through the previous period, I increased my efforts in my spare time to fill gaps in my understanding of Bitcoin and related fields and timely obtain relevant news. Because if you want to make money in this circle (or in any industry), it's not about how hard you work or how smart you are, but about how many channels you have to obtain information and how quickly you can interpret that information. That same year, I learned about a person named BM, who is also known as the 'scholar' Super Jun, and of course, there was EOS (Yuzu), a digital currency that appeared unexpectedly and played a joke on my life (to be fair, aside from the price, EOS has its merits in certain aspects and is quite interesting).
I've also seen many newcomers rush in excitedly, only to leave with a defeated expression, rolling away while cursing, 'Bitcoin is a scam.'
No matter where he loses, it will be attributed to Bitcoin. The most reliable thing in the crypto space is patience, and the thing that is most lacking is also patience. If you do not actively learn in this circle and wait to passively receive information, you will only earn a little bit of spare change. To exaggerate a bit, if you invest 50% of your funds in mainstream currencies, and allocate the other 50% into five or six niche assets, then you just have to wait patiently. The money earned this way might be much more than what you get from passively receiving end-of-the-line news.
So actively grasping first-hand sources of information will significantly increase your chances of making money. If possible, I hope newcomers spend an hour every day reviewing related information, such as news from Weibo, Twitter, and following influencers. By meticulously searching, you can definitely find the most frequently mentioned topics that you should actively search for and master, such as NFT. Before 2019, it could be said that no one cared about it, but news about NFTs could already be found in their conversations before that.
5. Stay calm, avoid impatience
80% of people in the cryptocurrency space do not make money; these people are often easily excited and impulsive, and I was the same way before.
When someone invites you into a group and loudly promotes a certain coin, claiming it will definitely rise, you might impulsively invest everything. Who knows that the next moment, you might have to sell at a loss, just like recently when someone touted DOGE, which was essentially just calling for chives to take the bait. Therefore, newcomers must not get too heated or overly excited; cooling down may yield fewer profits, but directly investing everything without thinking will surely result in substantial losses.
The poem mentioned at the beginning is one I saw during my university years. At that time, I was very troubled about having chosen the wrong major; I should have chosen computer science. After seeing it, I didn't get disheartened; instead, I self-studied Python during this period, partly to better learn about the blockchain industry, and partly as a compensation for my ideals. Looking back now, it has indeed been very beneficial.
Since 2019, the 'new cryptocurrency circle' represented by DEFI has developed rapidly, rushing in like a torrent, catching many 'classical cryptocurrency circle' people off guard.
Thanks to my early understanding, I 'survived' in the midst of this torrent. Constantly learning about and practicing various innovative and endlessly emerging new models of DEFI is the only way to quickly progress in the 'decentralized finance' economy.
6. Conclusion
Let me briefly summarize my current operational methods, hoping to inspire the younger generation—
(1) Establishing information channels, as mentioned above, wanting to directly contact project parties and obtain information is almost impossible for most people, so the only way to get information is through media tools. It's essential to have several cryptocurrency financial apps (like Jinse ** or Coin niuniu) on your phone. For newcomers, trading at the three major exchanges (with guaranteed funds) is recommended, and using mainstream wallets. If you want to find relevant information, look it up on the official website or ask customer service for help; this is the safest.
(2) Newcomers are recommended to start with Huobi HECO, Binance BSC, and the upcoming OKchain, learning step by step from installing wallets to managing address mnemonic phrases. Mnemonic phrases should be saved offline as much as possible; don't be afraid of trouble, as this point must not be neglected. After creating your wallet, learn about the transfer operation.
(3) Start learning about mining simply, cheaply, and for free. After becoming familiar, try different types. Remember: one project, one address. Although this can be cumbersome, it is very secure for your funds.
(4) Having a good circle is important; in simple terms, if you don't share the same path, you won't be able to work together. Find a circle with similar interests, as it can greatly aid your improvement.
(5) Learn to stay calm; this circle is not small, but not too big either. There are both real experts and charlatans mixed in. Analyze any information and see if it's really like that; learn to remain neutral and objective.
(6) If you want to taste success in this area, first observe and learn more. Only after gaining sufficient confidence should you enter the field. Also, be patient; having both rises and falls is a healthy market.
Let's leave it at that; my writing is mediocre, and what I wanted to say is probably just this. I hope everyone approaches learning about this field with a normal mindset and gets lucky in becoming wealthy. Don't always think about making big money in this circle with a get-rich-quick mentality.
$BTC $ETH $BNB
