Newcomers in the crypto world should avoid these 3 money-devouring beasts to take the first step with confidence!
Just entering the crypto world, does it feel overwhelming with all the wealth myths around, while faintly hearing the cries of the retail investors?
Don't panic! To survive and thrive in the crypto world, avoiding a few fatal pitfalls at the beginning is a thousand times more important than blindly rushing in to find a hundredfold coin! This experience, earned with real money, will help you land safely:
1. Don't rush in, sharpen your tools first!
The biggest pitfall for beginners is being controlled by FOMO, going all in without understanding anything. Blockchain principles, wallet security, trading pairs, basic candlestick patterns, project analysis, information channels—these are not elective courses; they are your lifeline! Trust me, knowledge is your first line of defense against the scythe. The more solidly you learn now, the less you'll pay in tuition later (don't ask how I know this...)
2. Contracts? That's bungee jumping on the edge of a cliff; beginners should avoid it!
Seeing someone flaunt a hundredfold contract in the group? Tempted? STOP! Beginners should engrave this in their minds: contracts are not printing machines; they are meat grinders! No matter which expert you hear about becoming rich through contracts, there are definitely ten or even a hundred people who have gone bankrupt because of it.
High leverage, liquidation, margin calls... these terms hide an endless abyss. For beginners, spot trading (honestly buying coins) is the only choice! Learn to walk on solid ground before challenging the tightrope.
Steady and solid, holding value is the way to go. Don't let the fantasy of overnight wealth destroy the principal you have worked hard to accumulate.
3. Beware of the allure of meme coins! Stay away from the black hole of zero!
Wow! This coin has a cool name and the project looks flashy, and it's only a few cents? Buy it! Stop right there! 90% of the small coins in the crypto world are essentially well-designed harvesting machines for retail investors. They may be packaged beautifully, but a single negative news or market fluctuation can cause the price to plummet by 99% or even go to zero!
Beginners, remember: only recognize mainstream coins! BTC and ETH are hard currencies tested through storms; although their rises may not be as thrilling, at least you won't wake up one day to find your assets evaporated.
Avoiding these three major pitfalls, congratulations, you have successfully navigated through the area with the highest mortality rate for newcomers in the crypto world!
If you're confused about trading, want to break even, or hope to double your account, stay close to Yi An for early layout, enjoy the appetizer of the market, and don't eat leftovers!
