1. Learn the basics: Improve your awareness.
Just like building a house, you can't ignore the foundation. The same goes for the cryptocurrency world; first, you need to systematically learn the basic concepts of blockchain and cryptocurrency.
Related terms: For example, DApp (decentralized application), DeFi (decentralized finance), NFT (non-fungible token), Web 3.0, consensus mechanisms (PoW, PoS), etc. These are the "codes" you use to communicate with the "natives" of the cryptocurrency world.
Online courses: Many platforms such as YouTube, Bilibili, and Binance Square have free introductory courses on blockchain and cryptocurrency.
AI tools: When you encounter unfamiliar terms or concepts, ask questions. Little by little, your knowledge base will improve.
2. Understand market dynamics: Be a sharp "diamond hand."
The cryptocurrency market is extremely volatile, like a roller coaster. Learn to observe the market rather than blindly following trends.
Data analysis: Pay attention to market capitalization, trading volume, project ecosystem development, technological updates, etc. For example, you can check real-time prices and market cap rankings of cryptocurrencies through websites like CoinMarketCap or Coinglass (recommended).
News and policies: You must have sharpness; the cryptocurrency market is greatly affected by global policies, macroeconomics, and major technological breakthroughs. Pay more attention to financial news and regulatory developments, such as the introduction of various countries' regulations on cryptocurrencies or the entry of large institutional funds (for example, the launch of the Ethereum ETF allows traditional funds to enter the crypto market more conveniently).
Industry reports: Read professional analysis reports to understand industry trends and potential risks, which are generally in English, and you can use AI to translate them.
Twitter + AI: Check what projects the team members have done, whether they have a dark history, etc. Also, see how the professionals and KOLs' popularity and recognition in this track are.
3. Practical operation: Accumulate experience with small amounts of money.
Talking without practice is just show; only by truly engaging in spot and contract trading can you grasp its nuances.
Choose a reliable exchange: Just like choosing a bank, the first step is to choose a cryptocurrency exchange that is safe, compliant, has high trading volume, and good user reputation. A summary of official entry points for major exchanges.
Learn to use wallets: Understand the difference between hot wallets (online wallets) and cold wallets (hardware wallets), and learn to securely store your assets. The private key is like your bank card password; be sure to keep it safe and never disclose it to anyone.
Small investments: "Never invest money you can't afford to lose." This is the golden rule in the cryptocurrency world. For example, if you deposit $500, you don't need to put all of it in at once, right? You can first verify your judgment with $10, $20, or $50, or you can operate in multiple layers of positions. Then experience buying, selling, withdrawing, transferring, and other operations to feel the market fluctuations.
Diversified investment: Don't put all your eggs in one basket. Diversify into two or three different cryptocurrencies to reduce the risk of a single asset. However, don't diversify too much; a person's energy is limited, and it's impossible to keep an eye on so many coins.
4. Polish your mindset: It’s also about fighting your own human nature.
The fluctuations in the cryptocurrency market are astonishing, with ups and downs everywhere. Emotions can easily be swayed by the market.
Risk management: Set your profit-taking and stop-loss points. Just like stock trading, know when to "take profits" and when to "cut losses."
Don't think about "getting rich overnight": Wealth accumulation often requires time and patience. Don't be fooled by the ups and downs of the cryptocurrency market, and don't let the noise from the square disturb you. Fluctuations are risks; you need to recognize whether you can bear that risk.
Appropriate "greed": Don't run away with just a little profit; have faith in your judgment. I'm not telling you to be greedy, but rather to not fixate on the profits, but rather on where this market trend is at. The base positions are very precious; don't waste them.
Maintain independent thinking: Don't easily trust various "rumors" and "traders' signals."
5. Integrate into the community: Communicate with people in the circle.
Lone wolves in the cryptocurrency world can easily go astray, their mindset can easily go awry, and information can easily become isolated. This is not sustainable in the long run.
Join high-quality communities: Add some influential people’s blockchain or cryptocurrency discussion groups, communicate with experienced investors, and share insights, but also stay alert and don't believe everything you hear. Observe more, act less.
Participate in online/offline events: If you have the opportunity, you can also attend some offline blockchain meetups or large blockchain conferences to see the popularity of projects.
The market is starting, and profits are doubling! Follow Cheng Ge and act accordingly; wealth will naturally come.
Keep following: SPK, SAHARA
