As terms like Bitcoin and Ethereum appear more frequently in the public eye, more people are paying attention to the 'cryptocurrency world'. Many newcomers may wonder: 'I know nothing about blockchain, but I want to understand the cryptocurrency world and even participate, where should I start?' Don't worry, this article is written for 'you', even those with no foundation can understand it, guiding you step by step into the world of cryptocurrency.
One, what exactly is the cryptocurrency world?
In simple terms, the cryptocurrency world is composed of digital currencies, blockchain technology, and an ecosystem of investment and speculation. It mainly includes the following sectors:
Bitcoin (BTC): As the first decentralized digital currency, it is regarded as the 'founding father' of the cryptocurrency world.
Ethereum (ETH): This is a programmable blockchain upon which many projects and applications are built.
Altcoins: Refers to all currencies other than BTC, such as SOL, AVAX, DOGE, etc.
DeFi (Decentralized Finance): In this field, users can participate in lending, staking, trading, and other activities without going through banks.
NFT: Digital collectibles, available in various forms, can be images, music, game assets, etc.
Web 3.0: Considered the next generation of the internet, its core features emphasize user ownership and decentralization.
Two, how can newcomers quickly get started?
Learn the basics.
Recommended several learning entry points:
Bilibili and YouTube: Search for 'blockchain introduction' or 'digital currency tutorial' and other content on these two platforms.
Zhihu column: Search for 'beginner's guide to cryptocurrency' or 'DeFi introduction' and other keywords.
Some quality public accounts: For example, Odaily, Babitt, Baihua Blockchain.
Key concepts to understand include:
What is blockchain?
What is the difference between decentralization and centralization?
What are wallets, private keys, and mnemonic phrases?
What is the role of exchanges?
Register for a reliable exchange account.
The first step into the world is usually to buy coins; domestic users can use exchanges that support RMB trading, such as:
Binance (registration link available upon request)
OKX (registration link available upon request)
Gate.io (registration link available upon request)
⚠️ Note: It is recommended to bind two-factor authentication (such as Google Authenticator) when registering, and make sure to back up your mnemonic phrase or private key!
Three, what are the ways to make money in the cryptocurrency world?
Here are several methods that newcomers most often encounter:
Spot trading: Buy low and sell high, similar to stock trading, suitable for long-term holding and for investors who are optimistic about project value.
Contract trading: This method amplifies capital leverage; although there is a chance to get rich quickly, it can also easily lead to liquidation. Not recommended for beginners!
Claiming airdrops / interacting with testnets: Participating in early test tasks of projects may yield free tokens after the projects go live (for example, ARB, ZKsync have previously airdropped tokens worth thousands of dollars).
Staking / mining: Putting coins into a project to earn interest or rewards, which is a form of passive income.
Four, what are the risks in the cryptocurrency world?
There are many opportunities in the cryptocurrency world, but it is also full of traps, and newcomers need to pay special attention.
Project runaways: Especially some 'funding platforms' that promise high returns, the risks are extremely high.
Private key theft / mnemonic phrase leakage: This is akin to telling someone your bank password, and the consequences can be dire.
Being taken advantage of: Cryptocurrency prices often fluctuate wildly, making it easy for newcomers to buy at high points and suffer losses.
Fake websites / phishing links: There are many 'imitation websites' that will lure you into entering your wallet information, so be vigilant.
One piece of advice: Never invest money you are not willing to lose into the cryptocurrency world.
Five, essential tools for newcomers.
Wallets: MetaMask, OKX Wallet, used for receiving, sending, and storing coins.
Browsers: Etherscan, Solscan, can be used to check transaction records and on-chain data.
Data websites: CoinGecko, CoinMarketCap, can view cryptocurrency prices, fluctuations, and project information.
Community: Telegram, Discord, Twitter, can track project dynamics and obtain airdrop information.
DEX: Uniswap, PancakeSwap, belongs to decentralized exchanges, can directly swap coins on-chain.
Six, after entering the cryptocurrency world, you can plan your path this way.
First week: Learn the basics, register for an exchange account, and create your own wallet.
First month: Experience buying and selling, participate in airdrops or DeFi with small amounts.
Within three months: Deepen your understanding of DeFi, cross-chain, Layer 2, and other knowledge points.
After half a year: Consider establishing your own investment strategy or participating in project development.
Seven, final advice: Stay rational + Don't FOMO (fear of missing out)
The cryptocurrency world changes rapidly, emotions have a large impact, and there are many opportunities. Many times, when you see 'certain coin has risen 10 times', you may have already missed the best opportunity. The most important thing is not to chase after spikes and drops but to understand the logic of the industry and find a way to participate that suits you.
The cryptocurrency world has never lacked 'money-making opportunities', but those who can truly profit from it are always those who are good at learning, continuously observing, and thinking independently.
If you are reading this, it means you are already ahead of 90% of newcomers. If you have any questions or operations you don't understand, feel free to ask!
