Cognitive preparation: Understand risks first, then talk about returns
1. Accept the reality of 'possible zeroing out'
Bitcoin has experienced declines of over 80% in its history, and altcoins going to zero is a common occurrence.
Only invest spare money that you can afford to lose completely (suggested not to exceed 5% of liquid assets).
Beware of 'get rich quick' stories - survivor bias is serious.
2. Learn basic concepts (must-know checklist)
Blockchain: How distributed ledgers work (recommended [Bitcoin white paper](https://bitcoin.org/bitcoin.pdf))
Wallet: Hot Wallet (easy to use) vs Cold Wallet (secure), mnemonic phrase = asset control rights
Exchanges: Centralized (CEX like OKEx) vs Decentralized (DEX like Uniswap)
Token types: BTC/ETH (public chain) vs USDT (stablecoin) vs MEME coins (high risk)
3. Identify classic scams
Funds scheme: 'Deposit coins to earn interest' annualized 1000% = Ponzi scheme
Fake exchanges/wallets: Forged apps to steal mnemonic phrases
Twitter impersonation of big V: 'Transfer rebate' is all a scam
Two, practical entry: From security to trading
1: Register on exchange (CEX preferred for newcomers)
Select compliant platforms: (Binance), OKX, Coinbase (requires scientific internet access)
Complete verification: KYC real-name authentication + bind Google Authenticator (2FA)
Small-scale testing: First deposit ≤1000 yuan, familiarize with the process
2: Secure storage (more important than making money!)
Funds left on exchanges: ≤24 hours needed for trading
Long-term holding to cold wallet
Hardware wallet: Ledger/Trezor (¥500-1000)
Open-source mobile wallets: MetaMask (little fox), Trust Wallet
Iron rule:
Write down mnemonic phrases physically, never connect to the internet
Absolutely do not screenshot/email/tell anyone
3: First transaction (minimal strategy)
1. Fiat deposit: Buy USDT with RMB in the exchange OTC area (choose blue shield merchants)
2. Main warehouse allocation:
70% Bitcoin (BTC) + 30% Ethereum (ETH) (reduce risk)
3. Small-scale experience:
Use ≤100 yuan to buy altcoins, feel the volatility (such as SOL/ADA)
Avoid contract leverage! Newcomers have a liquidation rate of over 99%
Three, continuous learning: Avoid the 'information scythe'
Information source screening:
Data: CoinMarketCap / CoinGecko (check market value, on-chain data)
News: ChainFeeds (aggregating quality media)
Community: Reddit r/CryptoCurrency (beware of pump signals)
Free learning:
Binance Academy / Coinbase Learn (systematic courses)
YouTube channel: Coin Bureau (in-depth analysis)
Beware of 'big shots':
All paid signals and private placement groups are 99% scams
Four, psychological construction: Long-term survival rules
Don't chase highs and cut lows: FOMO (fear of missing out) is the main cause of losses
Dollar-cost averaging strategy: Buy BTC/ETH a fixed amount every month, ride through bull and bear markets
Detach from emotions: Don't panic when down 50%, don't get euphoric when up 200%
Ultimate advice:
In the crypto circle, 'not losing money' has already beaten 90% of people. Spend one year learning before considering advancement (DeFi, NFT), always prioritize the safety of principal.
Investment is not gambling, but a process of monetizing cognition. The learning time you invest now will pay you back in the future by avoiding traps and seizing opportunities. If you encounter specific problems (such as wallet operation, exchange), feel free to ask me anytime, and I will break it down for you step by step. $ETH
