1. Basic Understanding: Grasp the 3 Core Concepts
Blockchain: A globally public 'ledger', data is transparent and immutable, forming the basis of technologies like Bitcoin and Ethereum.
Mainstream Cryptocurrencies:
Bitcoin (BTC): Digital gold, the preferred choice against inflation, with lower long-term holding risks.
Ethereum (ETH): A smart contract platform that supports ecosystems like DeFi and NFTs.
Key Terms:
Gas Fee: On-chain transaction fee, must confirm real-time rates before transferring.
DeFi/NFT: Decentralized finance and digital asset certificates, recommended to start experiencing from staking and exchanges.
2. First Step in Practice: Choose a Secure Trading Platform
Recommended Exchanges:
Binance: The largest globally, supports fiat deposits, beginner-friendly.
OKX: Comprehensive Chinese interface, provides spot trading, futures, and other multifunctional services.
Gate.io: Transparent capital reserves, suitable for small investments.
3. First Purchase of Cryptocurrency: 4 Steps
Fiat Deposit: Buy USDT through Alipay/Bank Card (pegged 1:1 with USD).
Purchase Mainstream Coins:
70% of funds in BTC/ETH, 20% in platform tokens (like BNB), 10% exploring potential coins.
Use 'Market Order' for quick transactions, avoiding limit order slippage risks.
Small Investment: First-time investment should not exceed 5% of liquid funds.
4. Asset Security Storage: Wallet Selection Guide
Short-term Trading: Use exchange wallets, but avoid storing large amounts of assets long-term.
Long-term Holding:
Hot Wallet: MetaMask, Trust Wallet, suitable for daily small transactions.
Cold Wallet: Ledger, Trezor, physical devices for offline storage, with the highest security.
5. Risk Management: Avoid Becoming 'Chives'
Position Allocation:
Mainstream Coins 70% + Potential Coins 20% + Cash 10%.
Dollar-Cost Averaging Strategy: Buy BTC/ETH on fixed dates each month to average costs.
Take Profit and Stop Loss:
Sell in batches when profits reach 30%, enforce stop loss at 15% losses.
Use Binance 'Conditional Orders', OKX 'Strategy Trading' for automated operations.
Pit Avoidance Guide:
Stay away from high-leverage contracts (over 95% liquidation rate for beginners).
Beware of 'Hundredfold Returns' rug pull coins, 99% are scams.