Recently, the crypto market has become hot again, even your second uncle has started asking you 'how to buy coins'. But don't rush in! As someone who has been in the crypto circle for 8 years, I've seen too many newcomers lose their investments due to these 5 fatal mistakes. Today's article can help you avoid 90% of the pitfalls, saving you the cost of a Tesla!

Mistake 1: Chasing highs and selling lows, turning into a 'bag holder'.

When Dogecoin soared from $0.01 to $0.7 in 2021, countless people shouted 'get on board', and what happened? The price halved again and is now hovering around $0.2.

The truth: 90% of the explosive growth in the crypto circle is a trap set by 'big players'. When you see a coin rise 50% in a day, remember: this is not an opportunity, it's the sickle swinging. Professional players have already ambushed at low positions, and when you rush in to take over, they are already laughing and counting money as they leave.

How to break this?

  • Set a '24-hour cooling-off period': add the coins you want to buy to the watchlist, then decide the next day.

  • Memorize this sentence: "Bull markets don't lack opportunities, they lack capital."

Mistake 2: Putting all eggs in one basket.

"Bitcoin is too expensive, I'll buy this new coin, starting at 10 times!" This is the most dangerous illusion for newcomers. During the LUNA crash in 2023, someone bet their entire fortune, and after being liquidated in 5 minutes, they live-streamed their jump.

Data speaks: Chainalysis reports show that from 2021 to 2024, 80% of 'hundred-fold coins' went to zero within a year, while mainstream coins like Bitcoin and Ethereum increased by more than ten times.

How to break this?

  • "721 rule": 70% of funds in Bitcoin/Ethereum, 20% in quality altcoins, 10% in high-risk coins.

  • Remember: "Surviving until the next bull market is more important than making quick money."

Mistake 3: Ignoring security, treating private keys lightly.

"I keep my coins on the exchange for convenience," this statement has led to the Mt. Gox exchange hack of $450 million being repeated countless times. In 2024, a major exchange caused by internal staff resulted in 30,000 user assets going to zero, compensation? Don't even think about it!

Cold knowledge: 20% of Bitcoin in the world can never be accessed because the private keys are lost. Your coins only truly belong to you when they are in a cold wallet.

How to break this?

  • "3-day withdrawal rule": transfer 80% of assets to a cold wallet, set a 3-day withdrawal delay to prevent impulsive actions.

  • Keep your private keys written on paper, hidden in a safe, and never take a photo, screenshot, or send it to anyone.

Mistake 4: Leveraged trading, playing with fire.

"20x leverage, tenfold return!" This is the most toxic soup in the crypto circle. When Bitcoin drops 50% in 2024, everyone using 2x leverage will be liquidated, losing everything.

How to break this?

  • "Leverage ban": Unless you are a professional trader, never touch leverage.

  • Remember: "Slow is fast, steady is winning."

Mistake 5: Emotional trading, ruled by fear and greed.

"Down 5%? Quick, cut losses!" "Up 10%? Add more!" This is the most common death loop for newcomers. During the 2023 NFT craze, someone sold 30 NFTs for $30 each, only to see them rise to $3,000 each later, missing out on $900,000.

The psychological truth: The dopamine secretion in the crypto circle is three times that of gambling. When you're staring at the K-line and your heartbeat increases, your brain has already lost its rationality.

The special brother's sickle is faster than the big players! Follow me, and I'll teach you how to cut back the market! #香港稳定币新规 #美股代币化