1. Blindly chasing highs, fantasizing about getting rich overnight - the top ten 'deadly' pitfalls for newcomers in the crypto world. Seeing a certain coin skyrocket, many people will blindly chase the high, hoping to gain significant returns in the short term, but the result is often buying at a high price.
2. Not doing homework, following the crowd in investments. Many newcomers hear about a certain coin being popular and blindly follow the trend to buy in, completely neglecting research.
3. Seeking cheap options, ignoring quality. Many newcomers like to buy low-priced altcoins, believing that low prices have room for appreciation.
4. Ignoring stop-losses, stubbornly holding on. Many people are unwilling to cut losses when they are in the red, always hoping that the market will rebound, resulting in increasing losses.
5. Frequent trading, pursuing short-term profits. Frequent trading not only increases transaction fees but also makes it easy to make wrong decisions due to emotional fluctuations.
6. Not understanding diversification, putting all eggs in one basket. Betting all funds on one coin is extremely risky.
7. Being swayed by market emotions. Stay calm and avoid being influenced by market emotions. Develop a clear investment strategy and strictly adhere to it, avoiding emotional trading.
8. Ignoring security, assets being stolen. Use secure methods like cold wallets to store digital assets, ensuring the safety of private keys. Do not keep all assets on exchanges; diversifying storage can reduce risks.
9. Not setting goals, blindly operating. Set clear investment goals and strategies, and adhere to them strictly. Whether it's taking profits or cutting losses, have a clear plan.
10. Trusting 'big shots' too easily, neglecting personal learning. Many newcomers blindly follow so-called 'big shots' in their operations, ignoring their own learning and judgment.
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