Today I will share a beginner's guide to avoiding pitfalls in the cryptocurrency world: The first step to not getting cut!

Many people enter the cryptocurrency world with only one thought: to get rich!

As a result, they passionately enter the market for three days, get trapped for five days, and zero out their accounts in ten days.

The truth is: there are indeed many opportunities in the cryptocurrency world, but the risks are even greater. To survive long-term, you must first learn to avoid pitfalls. This article is a must-read for beginners!

1. First, catch up on knowledge, don’t rush in blindly.

1. What is blockchain?

In one sentence: No centralized banks, everyone can check the ledger, and smart contracts execute themselves.

If you want to understand, I suggest you directly look at:

"Bitcoin White Paper": Understand the underlying logic of BTC.

Ethereum official website: How to play with smart contracts.

2. A few types of coins you must know:

BTC: The "gold" of the cryptocurrency world, a barometer.

ETH: The foundation of smart contracts, DeFi, and NFTs all rely on it.

Stablecoins USDT/USDC: Equivalent to "US dollars", a risk-hedging tool.

Altcoins: High risk + high volatility, be careful of becoming "air".

3. Basic terms you must know:

Private key, public key = your bank account and password.

Gas fee = transaction fee for on-chain operations.

Spot = real buying and selling.

Contract = leveraging bets, a minefield for beginners!

2. How to play in practice?

1. Start with small amounts to test the waters.

$100-500 is enough; place an order, make a market order, getting familiar with the rules is real skill.

2. Dollar-cost averaging into BTC/ETH.

Don’t think about trying to time the market; dollar-cost averaging is the most stable strategy for ordinary people. For example, buy a fixed amount on the day you receive your salary each month.

3. Don’t touch high-leverage contracts!

The easiest way for beginners to crash is through leverage. 10x, 20x, or even 100x? That’s not a shortcut to making money, but a ticket to liquidation hell. Avoid them for the first three months.

3. How to get real information?

Use tools to analyze data, not emotions.

CoinGlass: Check liquidation data.

Dune Analytics: Check on-chain holdings.

Reverse thinking is very important.

When social media is frantically shouting about "hundred times coins", be careful—that often means that seasoned players are preparing to sell.

Remember, the cryptocurrency market is open 24 hours a day; the market can change at any time. Watching the market too much can lead to a breakdown.

Controlling time + controlling emotions is the key to survival.

Making money in a bull market relies on luck; surviving in a bear market is real skill!

Want to learn faster? Not get lost in the market? Then follow me, you won’t be fighting alone.