Attention to newcomers just stepping into the cryptocurrency world! Mastering these key concepts is the first step to establishing a foothold in this 'battlefield'.
1. Spot Trading: A seemingly simple basic gameplay
Spot trading involves using real funds to directly purchase digital currencies. You can use stablecoins like USDT or your local fiat currency to quickly complete transactions for Bitcoin and other cryptocurrencies. After the transaction, the assets are credited instantly, with intuitive and convenient operations. The risk boundaries of this method are relatively clear—the maximum loss is the principal invested. But don't let your guard down! Once the price of the coin encounters a 'halving' crash, the account assets can significantly shrink, returning to square one overnight.
2. Contract Trading: A high-risk 'gambling' model
Contract trading can be considered the 'casino gameplay' of the cryptocurrency world. It allows investors to use leverage of 5x, 10x, or even 100x to bet on price fluctuations. It seems to amplify profits exponentially, but the risks also soar exponentially. For example, if you use 20x leverage to go long on Bitcoin, even a 5% drop in price will trigger the liquidation mechanism, causing your invested funds to vanish instantly. Newcomers who venture into this may end up losing all their capital, so it is crucial to be cautious—better to keep a respectful distance!
3. U-based and Coin-based: Key differences in profit and loss settlement
1. U-based: Using stablecoins (like USDT) as the settlement currency, regardless of profit or loss, it is calculated in stablecoins. This model has clear advantages in a bear market, as the value of stablecoins is relatively stable, making it suitable for shorting operations, effectively avoiding the risks of price declines.
2. Coin-based: Using digital currencies themselves for profit and loss settlement. In a bull market, if the price continues to rise, investors can not only earn more tokens but also enjoy the dual benefits of price appreciation. However, in a bear market, a price drop can lead to simultaneous shrinkage of both the principal and profits. If leveraged operations are added, the risks will grow geometrically. For instance, using 10x leverage to go long on Bitcoin, a 10% drop will not only wipe out the contract margin but also devalue Bitcoin itself, directly leading to a complete loss of the principal. The collapse of LUNA in 2022 left countless investors who used coin-based leverage with nothing.
4. Survival Rules: A Beginner's Guide
1. Initial Experimentation: Newcomers are advised to start with U-based trading, using small amounts of funds to familiarize themselves with market rules, and avoid blindly pursuing high leverage.
2. Timing Selection: If you want to try coin-based trading for higher returns, you must wait for bull market signals. But it’s important to note that accurately predicting a bull market is no easy task.
3. Avoiding Traps: Always remember that contract trading is not a 'cash machine', but a brutal 'scalping machine'. To survive in a bear market, you must thoroughly understand the logic of U-based trading; steady progress is key.
The cryptocurrency market is ever-changing, with risks and opportunities coexisting. Only by solidifying the foundation and investing rationally can one steadily advance in this field filled with temptations and challenges!
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