🔥 Newcomer’s Guide to Avoiding Pitfalls in Crypto｜Summary of Hard Lessons from Experienced Traders, Pay Less Tuition and Make More Money!
Just entered the crypto world and feeling lost? Afraid of being harvested? As an experienced player who has seen both bull and bear markets, I’ve summarized 10 survival rules to help you safely navigate your newbie phase!
🚨 Must-see for newcomers! Guide to avoiding pitfalls in crypto
1. Don't trust "gods"; invest requires independent judgment
In the crypto world, "teachers" are everywhere, showing profits but not losses
Remember: Those who truly make money don't have time to lead trades; 99% of those charging tuition or calling trades are just harvesting profits from others
2. Only use spare money, refuse to go all-in
Invest money that you won't need for 3 months (losses won't affect your life)
❌ Avoid: Borrowing money to trade crypto, liquidation leads to total loss!
3. Mainstream coins > altcoins
BTC/ETH is the "Moutai of the crypto world", with low volatility suitable for practice
Altcoins (like Dogecoin, Shiba Inu) are highly volatile; newcomers should be cautious!
4. Beware of "capital protection with high returns" scams
"Earn 1% daily" "Guaranteed profits" = Ponzi scheme
Real case: In 2023, a certain exchange ran away, leaving investors with nothing
5. Learn to read candlesticks but don't get addicted to short-term trading
Master the basics of support and resistance levels
📉 Frequent trading = paying fees to exchanges; holding good coins is more profitable
💎 Advanced techniques known only to veteran players
6. Private keys = lifeline! Security storage guide
Write down mnemonic phrases on paper + store them in a safe, absolutely do not connect to the internet!
❗️ Scam hotspots: Fake wallet apps/phishing websites
7. Combat FOMO emotions
Stay calm when others FOMO, and buy the dip when the market panics
Classic lesson: In 2021, Dogecoin surged, and those who chased highs are still stuck now
8. Join groups to learn but be wary of scams
Beware: Terms like "insider information" and "managed trading"
✅ Correct approach: Follow the project's official website/Twitter, firsthand information is the most reliable
9. Continuously learn blockchain knowledge
Understand concepts like DeFi/NFT/Layer 2 to seize the next opportunity
Recommended resources: CoinMarketCap whitepaper section, Binance Academy
10. Give up fantasies of getting rich quickly
In the crypto world, a 10x return in 1 year = top experts; most people lose money and exit
🌱 Suggestion: Dollar-cost average into BTC/ETH, time will reward those who are patient
