When I first entered the cryptocurrency field, I was like most people: rushing to buy 'potential coins' and heavily investing when 'experienced individuals' called out, only to lose 300,000 in 3 months — later I realized that the pitfalls that led to my total loss were all 'growth traps' that beginners must go through.
Now I can confidently say: there is indeed money to be made in the cryptocurrency field, but 90% of people lose because 'they start off in the wrong direction'. In this article, I've dissected the survival logic learned from 3 years of pitfalls to ensure that you will at least reduce your losses by 80% after reading.
Let’s break a misconception first: the money made in the cryptocurrency field is not 'lucky money', it’s 'cognitive disparity'.
Many people think the cryptocurrency field is a casino, but it’s more like a 'cognitive battlefield'.
Blockchain technology itself is not problematic; it's like a kitchen knife that can slice vegetables or harm people — the problem lies in people packaging scams with it. I've seen the most exaggerated example: a token project with no actual value, relying on the concept of 'metaverse + DeFi', inflated a string of code to a market value of 2 billion, and when the team exited, they left a message saying 'Thank you for your support, investors.'
So the first thing beginners should do is not buy coins, but understand 'life-saving knowledge':
Private keys = the core of asset security: I once logged into my wallet at an internet café, and the private key was recorded in the background, leading to a complete asset wipeout the next day — now every time I enter my private key, it feels like signing an important document.
Don’t be tempted by small savings on trading platforms: issues arise on small platforms faster than you can withdraw your funds. A friend stored 50,000 on a platform with 'high commissions', and when problems arose, customer service only replied, 'The person in charge is abroad.'
When transferring stablecoins, watch the network: choosing ERC20 to transfer TRC20 is like sending a package to the wrong courier station; the coins cannot be retrieved.
These basic understandings can be learned thoroughly in just 3 days at the 'Beginner Academy' of major trading platforms. Remember: rushing to invest without knowing how to use a wallet is no different from going to a high-risk area with your ID card.
I’ve stepped into 3 'high-risk pitfalls' for you.
Scams in the cryptocurrency field are like viruses; they mutate but their essence remains unchanged. I have personally witnessed at least 200 people fall into these 3 types of traps:
'Capital preservation with high interest' = 'Scheduled risk'.
Two years ago, there was a 'staking mining' project that said 'deposit 10,000 and get 100 back every day'. My neighbor invested 200,000; the first 3 months he received payments, but the platform was inaccessible in the 4th month — this is the trick of a Ponzi scheme: using new investors' money to pay old investors 'dividends', and when the scale is large enough, they exit.
Formula: Promised returns > 5 times bank wealth management = extremely high risk.
'Leading traders' = 'Unreasonable guidance'.
Those 'analysts' shouting 'Tonight layout XX coin, target doubling' in live broadcasts are either related to the project (trying to offload their holdings to you) or 'promoters' of trading platforms (earning your trading fees).
I once joined a 'group chat' where the group owner made over 1,000 people buy a certain niche token simultaneously; once the token price was pumped up, he secretly sold off, leaving the rest stuck at the high — if it could really make money, would he still need to rely on collecting 998 membership fees?
'Strange links' = 'Asset risk button'.
Last month, a fan told me he received a message saying 'Your wallet has been airdropped 2,000 stablecoins, click the link to claim', and after clicking the link and entering his private key, he found his wallet balance had turned to 0.
These phishing sites are made to look exactly like real wallets, but the URL may have an extra letter — any link asking you to enter your private key, even if sent by a friend, should not be clicked.
The 'safe posture' for beginners to make money: 3 iron rules.
The mainstream coins I currently hold were all accumulated using the 'dumb method' back in the day. Beginners can survive by following this method:
First, accumulate capital at 'zero cost', then 'lightly invest' to practice.
In the past two years, I made a lot of free tokens by completing 'beginner tasks' on trading platforms, one of which later increased 10 times, helping me earn my first pot of gold. Many legitimate platforms now have airdrop activities (e.g., completing real-name verification, sharing articles), allowing you to practice without spending a dime.
If you really want to invest, remember: only use 'money that you won’t regret losing'. I started by investing only 5,000 each time, and even if I lost it, it wouldn’t affect my basic life.
Investing in mainstream coins regularly is 100 times more reliable than 'guessing price fluctuations'.
Don’t think about making quick money through 'buy low and sell high'; large funds in the cryptocurrency field can cause you significant losses through 'short-term volatility'. I’ve seen someone turn 100,000 into 800 in just 3 days chasing the market.
You'd be better off learning from me: after getting paid each month, set aside 5% to buy Bitcoin or Ethereum, regardless of whether the price goes up or down. The cryptocurrency cycle is about 4 years, and as long as you hold through one cycle, mainstream coins are likely to perform well — this is the 'dumb method' I learned after losing 100,000.
Admitting 'I don't understand' is more profitable than claiming 'I understand'.
When encountering incomprehensible models like 'mining machine hosting' or 'quantitative arbitrage', categorize them as 'high risk'; if you hear about 'new concept coins' (like the recent 'AI + blockchain'), first ask yourself: what problem does this solve? If there's no answer, don't touch it.
Last year, I made some money from Bitcoin, got carried away, and tried 'cross-chain arbitrage', only to lose 30,000 in 5 days due to my lack of understanding of the underlying logic — the essence of making money in the cryptocurrency field is 'monetizing cognition'; without the right understanding, what you earn is just 'short-term gains' that you will eventually have to give back.
Finally, let me say something heartfelt:
There is no fairy tale of 'getting rich overnight' in the cryptocurrency field, only the law of 'when cognition is sufficient, money will naturally come.' I’ve seen too many people come in with a 'let’s gamble' mentality and leave with a 'disappointed' mindset.
But I have also seen some people study blockchain like pursuing knowledge, slowly accumulating coins, and making money through the cycle.
Remember: those who can survive in the cryptocurrency field for over 5 years are those who treat 'not speculating' as a belief.
Now, are you ready to be the former or the latter?
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