1. Overview of basic terms

  • Position: The ratio of the actual cryptocurrency held by the investor to the total investment funds.

  • Full position: using all funds to purchase cryptocurrencies.

  • Reduce position: sell part of the cryptocurrency and retain the remaining holdings.

  • Heavy position / Light position: refer to situations where the proportion of cryptocurrency holdings is high (heavy position) or the proportion of funds is high (light position).

  • Empty position: sell all cryptocurrencies held and only hold cash.

  • Bull market / Bear market: refer to market conditions where cryptocurrency prices continue to rise (bull market) or fall (bear market).

  • Long / Short: Long refers to buyers who are optimistic about price increases, while Short refers to sellers who are bearish on prices.

  • Pump and dump: when the price of a coin is likely to drop after consolidating, the short side suddenly raises the price, enticing the long side to believe the market is rising and buy in, leading to the long side being trapped when the short side suppresses the price.

  • Short squeeze: after the long side buys in, the price is deliberately suppressed, causing the short side to mistakenly believe the market is falling and sell, ultimately trapping the shorts.

2. Introduction to mainstream cryptocurrencies

  • BTC (Bitcoin): The pioneer of cryptocurrencies, regarded as 'digital gold,' and a representative cryptocurrency for value storage.

  • ETH (Ethereum): A blockchain platform that supports smart contracts, providing underlying technical support for decentralized applications (DApps) and decentralized finance (DeFi).

3. Mainstream trading platforms

  • Binance: A leading platform in terms of global user base and trading depth, known for its safety and compliance, enjoying strong trust among users in the industry.

  • OKX: Popular among domestic users, with a simple and easy-to-use interface, covering various trading types including spot and derivatives, with a good reputation.

4. Practical information websites

  • CoinMarketCap: A common tool for querying real-time prices, market capitalization, trading volume, and other basic information about various cryptocurrencies, helping to understand market conditions.

  • CoinGecko: In addition to basic market data, it also provides in-depth information such as cryptocurrency data analysis, community activity, development progress, etc., to help judge trends.

5. Risks to be aware of

The cryptocurrency market presents both opportunities and risks, with significant price volatility. As a beginner, it is recommended:

  1. Maintain a learning mindset, first understand the basic logic before taking action;

  2. Invest cautiously, use idle funds to participate, and avoid investing significant amounts that affect your life;

  3. Gradually build an understanding of the industry, do not blindly follow trends, and do not easily trust 'insider information.'


I hope this beginner's guide can help you take the first step in exploring the cryptocurrency world. You can later follow A Yu for in-depth learning on blockchain technology, trading strategies, and more based on your interests.

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