Before entering the crypto world, did you also think, 'Just buy a Bitcoin and it's done'?
In fact, the real danger is not not knowing, but having a half-baked understanding and rushing in.
Today’s article lists 6 common pitfalls that beginners easily fall into. Avoiding them can really save you a lot of money.
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🔹 1. Wanting to touch every coin, but actually losing money easily
When you first enter the crypto world, seeing a screen full of coins and projects can easily tempt you.
But you must remember: most people making money in crypto rely on mainstream coins, not on obscure ones to get rich.
Bitcoin (BTC) and Ethereum (ETH) are currently the most core assets.
Don't be fooled by so-called 'hundredfold coins'; many small coins look like they are rising sharply, but in fact, they have poor liquidity, and when they drop, you can't even get out.
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🔹 2. Thinking more exchanges are better, but easily stepping on landmines
Many beginners see a platform offering benefits and rush to register.
But the reality is: you only need to use 1-2 secure major platforms, like Binance, OKX, Huobi.
These platforms have active trading, good experience, and stable systems, making them suitable for long-term use.
Those obscure platforms might encounter issues like 'lagging, account bans, or exit scams', which are not worth the risk.
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🔹 3. Not understanding USDT will lead to chaotic fund operations
USDT is the most basic 'circulation bridge' in crypto, functioning like 'intermediate currency'.
If you want to buy coins, you need to first exchange RMB for USDT, and then you can buy BTC, ETH, etc.
When selling coins, you also need to convert back to USDT before withdrawing to RMB.
Understanding this, you won't get confused in the trading process.
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🔹 4. Playing contracts with small funds, thinking you can double quickly
Contracts are one of the riskiest trading methods in crypto.
They seem to make money quickly, but in reality, a small mistake can lead to liquidation.
Especially for beginners, lacking sufficient judgment on market conditions can easily lead to significant losses during fluctuations.
Many friends around me entered through contracts and exited through liquidation.
The best advice is: beginners should avoid contracts and start accumulating experience slowly from spot trading.
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🔹 5. Investing all your money, only to be stunned by a market wave
The volatility in crypto exceeds many people's expectations.
So the most important point is: only invest spare money, never borrow money to trade crypto.
What is spare money? It is money that, even if lost, does not affect your quality of life.
The crypto world is a long-term game, not a 'gamble everything' casino.
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🔹 6. Wanting to get rich quickly, but never thinking about risk control and strategy
Trading without risk control = gambling.
If you are not familiar with concepts like 'take profit and stop loss' or 'position management', it is advisable not to rush into investing.
Dollar-cost averaging is a method more suitable for ordinary people, with a long cycle, low risk, and it can smooth out costs.
Buy less when prices rise, buy more when prices drop, extend the time frame, and the results may be better.
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The crypto world is a rapidly changing environment, but that doesn't mean every step needs to be fast.
If you want to go far, you must walk steadily.
If you are still hesitating about how to start, how to choose a platform, or how to allocate funds, feel free to comment, keep following, and share your situation. I can help you clarify your thoughts 📩
$BTC
