One, the harsh truth for newcomers

When a newcomer to the internet enters the cryptocurrency world with a bank card balance, it's like entering World of Warcraft with a wooden sword—there's a 99% chance of becoming 'chives dumplings'. The 2023 Chainalysis report shows that the average loss per cryptocurrency scam case globally is $15,000, with novice victims accounting for 83%. Those Telegram groups that promise 'guaranteed profits' often turn into harvesting machines the next moment.

Two, the threefold understanding that blockchain ≠ scams

  1. The essence of technology
    Blockchain is like a kitchen knife; it can chop vegetables but can also hurt people. The Bitcoin whitepaper was born 15 years ago, and the underlying technology has been applied in over 2000 real-world scenarios, such as cross-border payments (Ripple) and traceability (VeChain).

  2. Common features of scams
    All Ponzi schemes exhibit 'three high characteristics': high return promises (daily interest of 1%), high referral rewards (three-level distribution), and high mystery (internal news). Remember: real opportunities never make a big noise.

  3. Regulatory dynamics
    The Monetary Authority of Singapore (MAS) has issued 19 digital currency licenses, and the SEC in the US handles over 40 cryptocurrency fraud cases each year. The process of compliance is eliminating bad coins.

Three, the golden rule of cognitive iteration

  1. Learning roadmap

  • First week: Understand wallets (MetaMask), stablecoins (USDT), and Gas fees

  • First month: Master on-chain queries (Etherscan), cross-chain bridges, DEX

  • First quarter: Establish investment framework (only coins ranked above 30 by market cap are considered mainstream coins)

  1. Antifragile strategy

  • Invest spare money: invest 5% of your monthly salary in BTC/ETH, ignoring price fluctuations

  • Safe storage: use a hot wallet for amounts under $1000, and a cold wallet for amounts over $5000

  • Information filtering: only focus on professional media like CoinDesk, Messari, etc.

Four, the pitfall guide formed from bloody lessons

  1. Pig-butchering scam identification skills
    If it involves 'teacher-led trading', 'capital preservation arbitrage', or 'national secret projects', blacklist it immediately. Real case: in 2022, 'Squid Game Token' ran away, evaporating $3.4 million in 5 minutes.

  2. Three principles of wallet security

  • Mnemonic phrase = bank card + password, must be handwritten and stored

  • Never connect your wallet on unknown sites

  • Send 1 U for testing before large transfers

  1. Legal red line warning
    ICO is banned within China, but holding digital currency is legal. Remember: OTC trading may trigger bank risk control; do not exceed 50,000 yuan in a single day of deposits and withdrawals.

Five, the survival wisdom of long-termists

A worker who bought 1000 yuan worth of ETH in 2017 would have seen it peak at 180,000 yuan in 2021. However, the liquidation rate for contract traders during the same period was as high as 92%. Remember:

  • Dollar-cost averaging in a bear market is like sowing seeds in winter

  • Cash out in a bull market should be phased (20%×5 times > 100%×1 time)

  • Always keep 10% cash to cope with a 312-style crash

Conclusion: The Fool's Declaration

The core principle of surviving in the crypto world for a long time is to admit 'I'm dumber than the market.' When you can laugh and say 'I don't understand this,' you've already outperformed 90% of players. Remember the ultimate advice from seasoned investors: If you think an opportunity is guaranteed, you must have overlooked the risk warning.

Before, one would bump around in the dark, now the light is in my hands.

The light is always on, will you follow?