Beginner's Trap: How to Avoid Losing Your Money in Cryptocurrencies? Amidst the rise.
The cryptocurrency market tempts with opportunities for quick profit, but it is highly volatile and carries significant risks. For beginners, the top priority is not to make gains, but to protect capital from losses.
1. Knowledge is the foundation of success
Never invest in what you do not understand. Always do your own research (DYOR), and understand the fundamentals of the project and the currency you are investing in. For beginners, long-term investment (HODLing) is the safest and least stressful option compared to active trading, which requires experience and carries higher risks.
