In the world of cryptocurrency, which is full of opportunities and risks, newcomers often face various confusions. Below are detailed answers to common questions from newcomers, hoping to help everyone move forward better in the crypto space.
From a statistical perspective, there is relevant data indicating that as high as 98% of contract newbies will experience losses within six months of starting contract trading. The cases we see of making tens of thousands in a day are merely a minority of winners. This is a typical survivor bias, where we often focus only on the successful and prominent examples while ignoring the large number of failed cases behind them.
In the contract market of the cryptocurrency world, trading is filled with uncertainty and high risk. Price fluctuations can be influenced by various factors, including macroeconomic conditions, policies and regulations, and market sentiment. For newcomers, lacking sufficient experience and expertise makes it easy to make wrong decisions in the face of a complex and changing market, leading to losses. Therefore, when seeing others making money from contracts and feeling anxious, it’s essential to stay calm, recognize the risks involved, and not blindly follow the trend to participate in contract trading.
Why does Bitcoin halving affect the price? Bitcoin (BTC) halving is an important mechanism of the Bitcoin network, occurring approximately every four years. During a halving event, the Bitcoin reward for miners who mine new blocks is reduced by half. From the perspective of economic supply and demand, when the supply of Bitcoin decreases and demand remains constant or increases, the price has the potential to rise according to the principles of supply and demand. Additionally, halving events often attract market attention and expectations, and investor sentiment and behavior can also impact the price. Understanding the mechanism of how BTC halving affects price helps you grasp the long-term trend of Bitcoin prices, which is very important in contract trading.
What is Ethereum's gas fee mechanism? Ethereum is a smart contract platform, and gas fees are the charges incurred when conducting transactions and executing smart contracts on the Ethereum network. The existence of gas fees is to ensure the security and efficiency of the network, preventing malicious attacks and abuse of network resources. The level of gas fees depends on the degree of network congestion and the complexity of the transaction. When the network is congested, gas fees rise; conversely, gas fees for simple transactions are relatively low. Understanding Ethereum's gas fee mechanism is crucial for conducting contract trading within the Ethereum ecosystem, as it directly affects your trading costs.
Summary
The cryptocurrency market is full of challenges and opportunities, and for newcomers, survival is the top priority. When entering the crypto space, spot trading is the best starting point for learning. Through spot trading, newcomers can gradually familiarize themselves with the basic rules of the market, the patterns of price fluctuations, accumulate investment experience, and cultivate sensitivity and judgment towards the market.
If you participate in contract trading blindly without sufficient preparation, the contracts are likely to turn into a gambling tool, exposing you to significant losses. Therefore, newcomers in the crypto space must take a gradual and steady approach, progressively enhancing their investment capabilities.
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