Want to quickly enter the crypto world? Don’t rush, first understand these!

1. First understand what the crypto world is

  • Bitcoin (BTC): The 'big brother' in the crypto world, equivalent to digital gold, its rise and fall directly affects the entire market.

  • Ethereum (ETH): Smart contract platform, many new coins are issued based on it, the ecosystem is the richest.

  • Stablecoins (USDT, USDC): Pegged 1:1 to the US dollar, used for hedging or trading, equivalent to 'cash' in the crypto world.

  • Exchanges: Places to buy and sell coins, such as Binance (Binance), OKX, Coinbase, don’t use small exchanges, they can easily run away!

Note: The crypto world is extremely volatile, it’s possible to see a 50% rise or fall in a day, don’t invest all your money in at once!

2. First step: Register on an exchange and buy some coins to try

  1. Choose a reliable exchange: Recommended Binance or OKX, big platforms are secure.

  2. Complete real-name authentication (KYC): Bind your bank card or Alipay to buy USDT (stablecoin), this step is like opening a stock account.

  3. Use USDT to buy BTC or ETH: Start with a small amount to test the waters (like 100 yuan), familiarize yourself with the process, don’t rush to go all in!

Key point: Newbies must not touch contract leverage! This thing makes money quickly, but loses even faster, there are too many painful lessons!

3. Learn to store coins, don't leave them on exchanges!

  • Hot wallet (online, suitable for small amounts): for example, MetaMask (little fox), Trust Wallet, can be operated on a phone or computer, but may be hacked.

  • Cold wallet (offline, the most secure): for example, Ledger, Trezor, suitable for storing large amounts, like giving coins a 'safe'.

  • Keep your mnemonic phrase safe! Don’t give it to anyone! Losing it = losing your money, not even the police can help you!

4. Don’t get scammed! Newbie pitfall guide

  • Don’t touch 'shitcoins': Those who shout 'hundred times coins' and 'imminent pump' in the group are 99% scams, specifically targeting newbies.

  • Don’t believe in 'teachers leading positions': If there really are secrets to making guaranteed profits, they would have made a fortune quietly, why would they tell you?

  • Don't click random links: fake airdrops, fake wallet links, clicking them can result in losing assets instantly, 'phishing' in the crypto world is even worse than in reality!

Truth: In the crypto world, only a few people make money, first learn not to lose money, then talk about making money!

5. How to learn faster?

  • Look at the data: CoinMarketCap (check coin prices, rankings), DeFiLlama (look at DeFi project locked amounts), like using 'public reviews in the crypto world'.

  • Mix in communities: Follow big names on Twitter (for example, CZ, Vitalik), browse Reddit's r/CryptoCurrency, but don't easily believe 'rumors'.

  • Small trial and error: Use some spare money to play, don't mind if you lose, gradually accumulate experience.

Summary

1. First buy some BTC/ETH to experience the process, don’t start with high-risk coins.
2. Learn to use wallets, don’t keep all your coins on exchanges, safety first!
3. Don’t be greedy, don’t touch shitcoins and leverage, stay steady and don’t be reckless.
4. Learn more and read more, listen less to 'insider news', gradually you can also become an 'experienced driver'.

Remember: There are many opportunities in the crypto world, but there are even more pitfalls! Take it slow, don’t rush, steady progress is the way!

I am Wenhua, a professional analyst and teacher, a mentor and friend on your investment journey! As an analyst, the most basic thing is to help everyone make money. Solve your confusion, help with positions, let strength speak, when you are lost and don’t know what to do, follow me, Wenhua will guide you.

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