Newcomers entering the cryptocurrency world must keep these points in mind

1. Trading Choices

1. Absolutely avoid contracts. Whether you are a newcomer, an experienced trader, or even an expert, anyone can fall victim to contracts. Newcomers should prudently choose spot trading and hold long-term. 2. Stay away from small coins. Most small coins in the crypto world aim to exploit investors, and once they drop, they can go to zero, with declines exceeding 99%. Do not touch small coins with low market caps that you haven't heard of; choose mainstream coins. 3. Avoid small exchanges. Small exchanges can go offline or face unexpected shutdowns at any time, making funds impossible to withdraw. It is recommended to choose mainstream exchanges, and you can also diversify your funds across different mainstream exchanges.

2. Profit Expectations

1. Do not have overly high expectations. With many institutions and elites entering the market, the era of tenfold or hundredfold returns is over; achieving a doubling of investment is already a challenge. If newcomers manage to avoid losses, they have already surpassed over 90% of people.

3. Fund Management

1. Do not store money in unknown wallets. Large amounts of funds can be considered for wallets, but small wallets also carry the risk of going offline. If your capital is small, it is advisable to first choose reliable mainstream trading platforms for storage. 2. Do not invest all your funds into the cryptocurrency world. The risks are huge, and both entering and exiting carry risks; you should use spare money for initial practice.

4. Trading Strategies

1. Do not engage in ultra-short trading. The volatility in the crypto market is significant, with Bitcoin often dropping 20% in a day and altcoins being halved; short-term trading is difficult to manage, so you should hold onto your coins. 2. Set stop-loss and take-profit levels. Set clear targets for yourself: exit decisively when prices drop to specific levels, and sell decisively when prices rise to specific levels, without needing to worry about subsequent fluctuations. Many people incur losses in a bull market because they do not take profits in time.

5. Self-Improvement

1. Continuously learn knowledge. One cannot earn money beyond their level of understanding; even if you make a lot initially, if your understanding is insufficient, you will quickly lose it back, or even accumulate debts. Therefore, you must keep learning and improve your cognitive level.

#币安投票上币 #美联储3月利率决议 #美SEC将放弃对Ripple的上诉 #AiXBT遭黑客攻击 #币安上线BMT

BMT EOS TRX TRUMP XRP CAKE PEPE SOL TON