Is it easy for newcomers to stumble in the cryptocurrency world? Don't be afraid, as someone who has been through it,
Here is my summarized survival guide for newcomers to the cryptocurrency world,
I hope it helps you pay less tuition and earn more profits! Investing is always your own responsibility, don't blindly trust the 'experts'.
There are many 'experts' in the cryptocurrency world, but 'if they profit, they boast; if you lose, you bury'.
Any investment decision should be made after thorough research, don't let others decide for you. Only invest spare money; never go all-in.
Investing in digital currencies is highly risky and may crash at any time.
Use spare money to play; don't touch money needed for living, and definitely avoid borrowing to trade cryptocurrencies! Learn to distinguish between mainstream coins and altcoins.
Mainstream coins: such as BTC and ETH, have relatively small fluctuations and stable long-term value.
Altcoins: have drastic ups and downs, can double in value, but may also become worthless overnight. Newcomers are advised to start with mainstream coins and proceed steadily. Never touch projects that seem too good to be true.
Projects claiming 'capital protection with high returns' or 'guaranteed profits' are basically traps!
Opportunities don't just fall from the sky; only traps can fall. Learn to read candlestick charts, but don't become addicted to short-term trading.
Learn some basic technical analysis, but frequent trading is not recommended,
as fees and mistakes can lead to quicker losses.
Holding quality assets for the long term is the key. Protect your wallet's private key.
The private key or mnemonic phrase of your wallet is the 'lifeline' of your assets.
Be sure to save it offline and never screenshot or share it with anyone!
Don't be swayed by FOMO emotions.
Seeing others making a fortune and feeling itchy? Stay calm!
Many times, chasing high prices results in standing guard.
A popular saying in the cryptocurrency world: Buy in despair, sell in euphoria. Don't hesitate to ask questions, but also filter the information.
Newcomers to the cryptocurrency world may find many things confusing.
You can join several cryptocurrency groups, but you need to learn to discern true from false information, especially when strangers contact you. Beware of scams.
Keep learning and maintain rationality.
The cryptocurrency world changes quickly, and new concepts emerge constantly. Spend time learning about blockchain,
Web3, DeFi, and other knowledge to understand industry trends, so you can go further. Manage your expectations and don't fantasize about getting rich overnight.
Indeed, some people get rich in the cryptocurrency world, but more lose money and leave. Stay grounded,
Patience in waiting for opportunities is more important than chasing short-term profits. The cryptocurrency world is full of opportunities and challenges,
Taking the first step cautiously and rationally is the right way to start your journey towards financial freedom!
I wish every newcomer can go further in the cryptocurrency world!#特朗普加密新政 $ETH