What you think of as the cryptocurrency world is that you take out ten thousand dollars, don’t look at it for ten years, and then sell it for one million. The reality of the cryptocurrency world is that you put in ten thousand dollars, and by the next day, you have only five thousand left. That one restless night will leave you sleepless, and every night this year when you wake up to go to the bathroom, you will check the app to look at the market. After finally enduring a year, your coins fluctuate between one thousand and six thousand in value, and you decide that if it falls to nine thousand, you will cut your losses. As a result, after cutting your losses, it suddenly skyrockets to five million a few days later.
Dogecoin (DOGE), at least in the short term (one to two years), is invincible. Some say it can be infinitely issued, that there is a divergence between price and volume, and that it may soon be cut in half. What I want to say is that you can apply your stock trading strategies to virtual currencies, but you can't go all in. What divergence between price and volume? Virtual currency is not like fiat currency; there is no credit backing and no state coercive force supporting it. So how has it survived until now? The most important aspect of virtual currency, and the reason why Bitcoin (BTC), Ethereum (ETH), and others have survived to this day, is their consensus ability.
This month, Bitcoin (BTC) has successively broken through 75,000, 80,000, 90,000, and 99,000, and is about to reach 200,000 per coin. I used to be like most people and also owned Bitcoin (BTC). And not just a few, but 100 coins.
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I have achieved work freedom, transitioning from part-time trading coins as a side job to now full-time trading coins. Trading coins has enabled me to achieve work freedom.
Rich people are very leisurely in their daily activities because they have plenty of time. When faced with issues, they are very capable because they can afford to lose.
Retail investors have basically exited; the chips are concentrated in the hands of the whales, and they can easily drive the market up through wash trading. In your case of having nothing, I suggest trading coins, not contracts, but buying spot, because trading coins is currently the easiest way for young people to gain wealth.
Now the digital economy has entered a phase of extreme virtualization, keeping pace with the times and moving away from the real economy is an inevitable trend. If you want to step into the cryptocurrency world, the right trading platform is key; otherwise, you will inevitably fall into scams or shady platforms, losing all your money. Currently, the largest cryptocurrency exchange in the world is Binance, where you can occasionally receive free airdropped tokens. Other platforms should be avoided entirely; even a glance can be a mistake.
