As a newcomer in the crypto world, is it easy to fall into pitfalls? Don't worry, as someone who has been there,
Here are my essential survival tips for newbies entering the crypto space.
I hope this can help you pay less tuition and earn more profits! Investing is always a personal matter, don't blindly trust 'experts'.
There are many 'experts' in the crypto world, but 'if they profit, they brag; if they lose, you bury it'.
Any investment decision must be made after doing your own homework; don't let others decide for you. Only invest with spare money, never go all in.
Investing in digital currencies is extremely risky, and there may be a sudden crash at any time.
Play with spare money, don't touch money needed for living, and definitely don't borrow money to trade cryptocurrencies! Learn to distinguish between mainstream coins and altcoins.
Mainstream coins: such as BTC, ETH, which have smaller fluctuations and relatively stable long-term value.
Altcoins: which can rise and fall sharply, offering chances to double but could also go to zero overnight. Newbies are advised to start with mainstream coins, steadily and cautiously. Never touch projects that promise 'money falling from the sky'.
Any projects that claim 'capital preservation and high returns' or 'guaranteed profits' are basically traps!
Nothing falls from the sky except traps. Learn to read candlestick charts, but don’t get addicted to short-term trading.
Learn some basic technical analysis, but frequent trading is not recommended.
Fees and mistakes can make you lose money even faster.
Long-term holding of quality assets is the way to go. Protect your wallet's private key.
The private key or mnemonic phrase of your wallet is the 'lifeline' of your assets.
Make sure to save it offline; never take screenshots or send it to anyone!
Don't be swayed by FOMO emotions.
Seeing others making a fortune, are you getting anxious? Stay calm!
Many times, chasing high prices just leads to standing guard.
A popular saying in the crypto world: Buy in despair, sell in celebration. If you don't understand, ask, but also filter the information.
Newbies entering the crypto space will encounter many things they don't understand.
You can join a few more discussion groups, but you must learn to judge the authenticity of information, especially when strangers contact you. Beware of scams.
Keep learning and stay rational.
The crypto world changes rapidly, with new concepts emerging constantly. Spend time learning about blockchain,
Web3, DeFi, and other knowledge to understand industry trends, so you can go further. Manage your expectations, don't fantasize about getting rich overnight.
Indeed, some people in the crypto world get rich, but more people lose money and leave. Stay grounded,
Patiently waiting for opportunities is more important than chasing short-term profits. The crypto world is full of opportunities and challenges.
Cautiously and rationally taking the first step is the right way to start your journey to financial freedom!
If you have any other questions, feel free to leave a comment, and I will answer them one by one~
I wish every new friend can go further in the crypto world!#美国加征关税 $BTC
