1. Understand the 'life-saving premise': Accept risk before discussing profit.
Must accept the reality: Bitcoin has dropped over 80%, and altcoins going to zero is normal. Always use 'money that you can afford to lose' for investments (suggested not exceeding 5% of liquid assets).
Beware of 'get rich quick myths': What you hear about 'doubling overnight' is likely survivor bias — out of 100 people, only 1 might keep their money.
2. Basic concepts 'Literacy': Don't touch coins if you don't understand these 4 terms.
Blockchain: Simply put, it is 'a publicly accessible ledger across the entire network', everyone can see it, the data cannot be changed, it's the technological foundation of cryptocurrency (for in-depth understanding, you can read the Bitcoin white paper; at the entry level, just knowing 'immutability' is sufficient).
Wallet: A tool for storing coins. Hot wallets (mobile/computer apps, like MetaMask) are convenient but not very secure; cold wallets (hardware like USB drives, such as Ledger) store coins offline and must be used for large amounts. Key point: Mnemonic phrase = your money, must be handwritten and kept offline, never shared with anyone.
Exchange: A platform for buying and selling coins. Beginners should first choose centralized exchanges (CEX) like Binance or OKX (simple processes, customer service available); decentralized exchanges (DEX) like Uniswap should be approached after becoming familiar with the basics.
Token types:
BTC/ETH: Mainstream coins with a real ecosystem, relatively stable;
USDT: Stablecoin pegged to the US dollar, used for trading other coins;
MEME coins (like DOGE): Purely driven by emotional speculation, extremely high risk, beginners should be cautious.
3. 3 types of scams 'Spot on': Avoid 99% of traps.
‘Staking' = Ponzi scheme: Anyone who says ‘annualized 100%, guaranteed profit’ is using new money to pay off old debts, a crash will lead to losses.
Fake apps/fake websites: Imitation exchanges or wallet apps that transfer coins as soon as you input the mnemonic phrase. Only download from official websites, and don’t click on links from messages/groups.
‘Big V transfer rebate’: Impersonators on Twitter and WeChat saying 'transfer 1 ETH and get back 2' are all scams, never believe them.
4. Practical entry: 3 steps to complete your first transaction.
1. Choose an exchange and set up security measures.
Beginners should choose Binance or OKX (strong compliance, friendly to Chinese users).
Must do: Real-name authentication (KYC) + bind Google Authenticator (2FA) — missing this step increases the risk of account theft by 10 times.
Don’t deposit more than 1000 yuan for your first deposit; familiarize yourself with the recharge and coin buying process first.
2. Coin storage security: These 3 rules are ironclad.
Exchanges should only hold 'money needed within 24 hours'; coins for long-term holding must be transferred to a cold wallet.
Mnemonic phrase: Write it down on paper (don’t take photos or store it on your phone), keep it safe — losing it = losing your coins, others knowing it = coins being stolen.
Don't click random links on your phone/computer, install antivirus software, and be wary of phishing.
3. First transaction: Buy this way to avoid pitfalls.
Step 1: Buy USDT (in the exchange 'OTC zone', choose blue shield merchants, buy with RMB, pegged 1:1 to the US dollar, stable).
Mainly allocate mainstream coins: 70% buy BTC, 30% buy ETH — less volatility, suitable for practice.
Want to try altcoins? Spend a maximum of 100 yuan (like SOL/ADA), experience the thrill of 'dropping 30% in a day', but don’t be greedy.
Absolutely prohibited: Touching contracts or leverage! Beginners playing this will have a 99% chance of liquidation, losing everything.
5. Long-term survival: Learn the right things and maintain a steady mindset.
What should you watch?
Check data: CoinMarketCap (for price, market cap), CoinGecko (to check token background).
Learn knowledge: Binance Academy, Coinbase Learn (free systematic courses suitable for beginners).
What shouldn't you trust? Paid signal groups, 'internal private placements' — 99% are scams designed to get you to take losses.
Mindset is more important than skills.
Don't chase highs or panic sell: Seeing 'everyone is buying' and rushing in is often a trap; selling in a panic when prices drop may lead to selling at the lowest point.
Try dollar-cost averaging: Buy BTC/ETH on a fixed day each month, regardless of price fluctuations, to average out costs and ride out bull and bear markets (experienced traders use this).
Remember: In the crypto world, 'not losing money' already puts you ahead of 90% of people. Spend one year learning before engaging in advanced strategies (DeFi, NFT).
To be honest: The core of making money in cryptocurrency is 'cognitive monetization'. The safety knowledge you spend 1 hour learning now could save you 10 times your money in the future. If you have specific questions (like how to use a wallet, operations in exchanges), feel free to ask, I will break it down for you step by step.
