Don't believe in the nonsense of "lying down and getting rich", the first step in coming in is to honestly make up for lessons. What is digital currency, how to trade, how to prevent risks, if these basics are not solid, investing money is no different from throwing it into the water.
Even veterans can easily fall into contracts, newbies should stay away from it as soon as possible, and be safe and sound with spot trading, holding it is better than anything else.
Don't touch small altcoins! They look fancy, but most are just for cutting leeks (ripping off newbies). They can drop to zero directly, and a 99% drop is nothing new. Choose mainstream coins, at least they're more solid.
Avoid small exchanges as well, running away and disconnecting the network are common occurrences, and the money may not be withdrawn once it's in. Choose mainstream ones like Binance and OKEx, or put money in several mainstream exchanges to reduce the risk.
Don't always fantasize about finding 100x or 1000x coins. These opportunities are rarer than winning the lottery, and the risks are extremely high. The crypto world is no longer an era where you can easily multiply your money by dozens of times. It's good enough to double it, and it's a success if a newbie doesn't lose money, surpassing more than half of the people.
Want to put a large amount of funds in a wallet? Don't touch unknown ones, many run away, you have to choose reliable ones.
There are many ways to play in the crypto world, contracts, short-term trading, coin holding, airdrops, NFTs... not all of them are suitable for you. This place goes up and down too crazy, it's not uncommon for Bitcoin to fall by 20% in a day, and altcoins may be halved. Newbies shouldn't play ultra-short-term trading, holding coins is relatively safer, looking at long-term value.
Stop-loss and take-profit must be set! When it drops to a certain point, don't hesitate to exit quickly; when it rises to the target price, sell decisively, and don't regret it even if it rises to the sky later. Many people lose money in bull markets because they don't know how to take profit in time.
Don't put all your money into the crypto world! This place is too risky, and there are pitfalls in depositing and withdrawing money. First try with spare money, don't affect your life.
Find a reliable team and mentor to lead you. There are too many pits in the crypto world, and more than 90% of people are losing money. Having an experienced leader, even if it can't guarantee making money, can at least avoid many pitfalls.
Regularly review your own operations, where you went wrong, where you can improve, and constantly adjust your strategy. In the crypto world, caution is the key to longevity, and being rational is the only way to go far.
Here's a true story, I know a motorcycle driver who invested a few thousand dollars in the crypto world a few years ago, and now his assets are tens of millions. He is just an ordinary person, with no background and no high education. He just wanted to change his life through investment, saved some money and invested it. He didn't understand anything at first, lost money and was liquidated, but later he slowly doubled, dozens of times, hundreds of times.
He always says that it is difficult for ordinary people to turn over, but if you find the right method, it is really possible to change the trajectory of life.
In fact, there are not so many myths in the crypto world, being down-to-earth and rational is better than anything else.
