Hello everyone, I am Bamboo.
This article is divided into five parts:
1. What is Web3?
2. Who am I?
3. What can I do?
4. What should you pay attention to before doing it?
5. How to do it?
6. Ending (the inner thoughts)
The purpose of this article is to solve the entry problems for newcomers and help them safely get through the novice period.
Note that this is not investment advice.
1. What is Web3?
Web2: The centralized world, which is the real world we usually understand.
Web3: The decentralized world, that is, the encrypted world or the blockchain world.
2. Who am I?
We exist in the form of wallets in Web3, which means that we can create countless wallets, each of which has a fixed and unique public key, which can be understood as creating a game character.
With this role, you can interact with other individuals, applications, and organizations in Web3, establish relationships, and make money.
3. What can I do?
Common ways to make money in Web3 can be summarized as follows (profits and losses are at your own risk):
Level 1 Trading:
IDO, IEO, and ICO can be collectively understood as private placement, which means that assets are issued and sold to the public for the first time.
The first minting of NFTs, inscriptions, and runes are also first-level transactions.
It is equivalent to us participating in a company's IPO.
Secondary Trading:
For an asset, currency, NFT, inscription, or rune that has been issued and circulated, buying and selling it on an exchange, on a chain, or from other players are all considered secondary transactions.
Momo:
It’s like signing up for Meituan and getting free eggs when you buy groceries, or getting a mobile phone when you apply for a credit card.
It is a reward (airdrop) from some projects to community users, provided that we become its users or senior users.
There are various ways to make money, such as participating in the blogger's one-click three-draw. If you win, you get the blogger's money, and if you lose, you get the money back from the blogger.
For example, voting for a project and getting rewards is considered taking advantage of the project.
Mining:
Providing liquidity (market makers), pledging (fixed deposits), mining machines or computers or networks (providing computing power). Think of mining as starting a business, investing a sum of money in the early stage to obtain sustainable returns, mining machines need to be maintained and updated in the middle, and pledging will have the risk of running away.
Uncommon ways to make money include:
creation:
Write short essays, shoot videos, operate Twitter, take advertisements, gain fans, etc.
It’s difficult to make money this way, and I haven’t made any money yet.
work to earn a living:
Write code and find a job in Web3. Or if you have a special skill in a certain area, become a worker for a project (the most common one is the MOD in Discord, that is, the moderator, who is responsible for maintaining the community users and answering questions for users).
4. What should you pay attention to before doing it?
Pay attention to your positions and plans.
1. Position.
Don't open a contract.
One day in Web3 is like one year on Earth.
A token can rise 100 times in a day, or fall 100 times in a day. This is a 24-hour market with no upper or lower limits. Compared to the real world, simply buying and selling crypto assets is already leveraged countless times. Contracts are leverage on top of leverage.
Behind overnight wealth are countless nights of risks. Stay rational and control your hands. The best technique is to control your position.
Divide the investment into ten or more parts to give yourself more chances to fail.
Your mentality is determined by your position.
Many people would say that "being able to hold on", "long-term investment" and "attitude" are more important than anything else.
But if we go all in, even Jesus can't stop us from looking at the K-line eight hundred times a day, being stimulated by every good or bad news, and being entangled between buying and selling for five hundred hours, jumping back and forth. Our mentality is a joke.
If we always have bullets to shoot, we will become very calm.
2. Plan.
Plan your trade, trade your plan.
Why buy and when to buy; why sell and when to sell.
For example, if we bought tokens in the sports sector because of the news about the Paris Olympics and the European Cup, we can’t just remember to buy when the Olympics opens, and we can’t just forget to sell when the Olympics are over.
Buying is definitely because there are: perceived benefits or advantages.
Selling is definitely because of: good news is realized or good news fades.
Why do we need to set up a plan? Because there are too many factors that interfere with emotions and judgment during the process of holding coins, and they will continue to appear.
There are wars here and there, interest rates are being raised and lowered here and there, group friends shout "the bull market is back" during the day and "the blockchain is killing people" at night, and after drinking two taels of Xiaobaigan, I suddenly have an idea that the market is about to "plunge", all these factors will affect our judgment.
A trading plan is usually set before a transaction is made. It is not about making a table, but about having a clear or vague concept in mind, which usually includes:
1. When to buy? (For example, buying at the bottom of the pressure level below);
2. How much to buy? (For example, open a position in batches);
3. When to sell? (e.g. double the price);
4. How much to sell? (For example, double the cost and stop profit completely);
5. When should you stop loss? (For example, set it to the maximum loss you can bear, or stop loss at the lower pressure level, or stop loss when the trend changes);
The fastest ways to lose money in Web3 that have been verified by countless people are probably the following:
1. If you open a contract and insist on opening a contract, you will lose all your money one day;
2. Frequent trading. The faster the trading frequency, the faster the loss of money.
3. In all-in, you may win countless times, but it only takes one time to lose everything.
Having a plan in mind can help us avoid trading losses caused by impulsiveness. We humans are inherently emotional animals, but trading cannot be emotional, otherwise it will become the emotional value of the banker.
Have confidence in the plans you make when you are sober. Don't overturn your plans when you are sleepy, not fully awake, hot-headed, heartbroken, or drunk. This will help you lose less money.
5. How to do it?
First of all, there are various tools and software. The following need to be collected or downloaded in order.
Do not click on untrusted links in Web3, as your money will disappear. Some phishing websites differ from official websites by only one letter, so be extra careful when identifying them.
1. Ladder:
Because most of the activities of Web3 are on the external network, you need a suitable ladder. If you don’t have it, you won’t be able to see this article. So I believe everyone has it, and it is not appropriate to recommend it here.
2. Chrome browser:
https://www.google.cn/chrome/index.html
Enter the website and download and install it.
Open your mobile browser, go to the URL above, and download a mobile version of Chrome browser.
3. Google Account (Google):
Open the Chrome browser, and you will generally see a prompt to add a user. Click Add, create an account, and create a Google account step by step. If you don't see it, you can find a small person icon in the upper right corner of the browser, click it, and do the same operation.
4. Gmail:
https://mail.google.com/
Google account is also your Gmail mailbox. Use your Google account to log in to this website.
5. Twitter account:
https://twitter.com/
Sign up for a Twitter account using your Gmail address here.
Complete a series of information including avatar, background, personal information, etc.
6. Discord account:
https://discord.com/
Go to the website, download it, and then register an account, also using Gmail.
Complete a series of information including avatar, background, personal information, etc.
Use one email address to register a set of information for easy memory.
7. MetaMask wallet (little fox):
https://chromewebstore.google.com/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn
The Little Fox Wallet is the most commonly used wallet on Ethereum, which integrates all the networks on Ethereum, including the main network, the first layer network, the second layer network, the test network, etc.
Click Add to Chrome in the upper right corner, it will automatically download and install. Then click the puzzle-style icon in the upper right corner of the browser, find MetaMask, click in and create a new account.
Note: Do not take screenshots, take photos, or use copy and paste during the process.
When creating, you will be asked to set a password and will also be prompted to back up the mnemonics.
Take out a pen and paper, write down your password and mnemonic on paper. Put it in a place where you can remember and find it. If anyone knows the mnemonic, the money will disappear. Remember! Forgetting the mnemonic is like losing your wallet. Remember!
All wallets, including the Little Fox Wallet, Little Ghost Wallet, Unisats Wallet, and other wallets with various names, are copied on paper. Do not take screenshots, do not take photos, and do not use copy and paste!
8. Phantom Wallet (Little Ghost):
https://chromewebstore.google.com/detail/phantom/bfnaelmomeimhlpmgjnjophhpkkoljpa
The Ghost wallet is the most commonly used wallet for the Solana chain.
9. OKX Web3 Wallet:
https://chromewebstore.google.com/detail/%E6%AC%A7%E6%98%93-web3-%E9%92%B1%E5%8C%85/mcohilncbfahbmgdjkbpemcciiolgcge
The advantage of the OKX wallet is that it has everything, including various chains, and is also convenient to operate on a mobile phone.
10、UniSat Wallet：
https://chromewebstore.google.com/detail/unisat-wallet/ppbibelpcjmhbdihakflkdcoccbgbkpo?hl=zh-CN&utm_source=ext_sidebar
A commonly used Bitcoin ecosystem wallet. There are too many Bitcoin wallets, so just download this one first.
11. Binance Exchange (Binance):
https://accounts.binance.com/register?ref=387769455
Open the Chrome browser on your computer, go to the website above, and proceed step by step as required. During the process, you will be asked to verify your face and ID card. Every exchange requires this step (KYC verification), so don't worry.
After completing the registration, you will see a download icon in the upper right corner. Scan the QR code or click the link to download the Binance APP.
Binance is the world's largest cryptocurrency exchange, and another commonly used one is EURUSD.
12. OKX Exchange (OKX):
https://www.cnouyi.info/join/12983132
Just like Binance, open the Chrome browser on your phone, go to the above URL, and register step by step according to the requirements.
Then click on the three bars in the upper right corner of the webpage, scroll to the bottom, and download the Ouyi APP.
OK. At this point, we have completed all the software and hardware preparations for entering Web3!
Below is what I think is the safest way to enter Web3. Please keep it in mind, especially for those who have less starting capital.
Three points: watch more, ask more, and do more.
1. Prepare 100 USDT in the exchange and divide it into 10 parts in your mind;
Open the Binance app and search for C2C purchase in the search box in the upper left corner.
2. Open Twitter, search for the following three accounts and follow them: @binancezh, @okxchinese, @followin_io_zh.
The first one is the official Chinese account of Binance, the second one is the official Chinese account of OUYI, and the third one is the Chinese account of an information portal that I think is good.
Take the time to browse their tweets constantly, whether you can understand them or not.
3. In the process of reading, you will find that in addition to a large number of popular science articles, there are also a large number of lucky draw tweets under the tweets of Binance and Ouyi. According to the requirements of the tweets, follow, like, forward and leave a message with one click, and take the first step to win the prize. It doesn’t matter whether you win or not, the key is the process. Web3 has few people and a lot of money, so the winning rate is actually quite high.
4. About one or two days later, a box called "You may like" will appear on the right side of the Twitter page. Big data will push Web3-related bloggers based on our preferences. Click More, and then click in one by one to browse their tweets. Follow the ones you like, and keep reading and following.
5. During this period of time, we have been exposed to the following aspects the most and can understand them the most. Our attitude towards them is:
\\A certain coin is going to be launched (Launchpad, IEO, ICO, IDO): learn about it and take out some USDT to participate;
\\A certain coin has gone up: let it go up, it is none of my business;
\\Someone bought a certain coin and made a lot of money: let it be, it’s none of my business;
\\Someone recommended a certain coin and said it was a wealth code: He recommended his, it is none of my business;
\\Various short videos: Women will only affect the speed at which you draw your sword, so use them in moderation;
\\Every day there are various one-click triple-follow and forward task draws: draw a moderate amount, too much mechanical operation will easily lead to account suspension, pick the ones you like, such as if you like certain peripherals, or the pictures of that project are pleasing to the eye;
If you win the prize, please refer to the following: projects that are only discussed by one or two people or do not cause any discussion within a small circle are basically scams.
Whitelist type: Use Twitter to search for relevant information and popularity (see how many people are discussing it), think about whether it is worth participating in the follow-up, or ask some favorite bloggers, some bloggers are quite enthusiastic.
Airdrop type: Search for relevant information to see how and where to sell. After searching, I found that those who are not discussed are scammers.
\\You can often see step-by-step tutorials on how to do a certain project: based on your own time and energy, pick a tutorial you like and follow it. If you get stuck on the technology, post a comment to ask the blogger or search for other tutorials. If you get stuck on the money (for example, it's too expensive and you can't afford it), give up and do the next tutorial.
\\A certain project was invited to do an AMA (Ask Me Anything online open fan meeting question and answer session): It doesn't hurt to listen more.
6. During this period, you may be exposed to a lot of content that you have never heard of before, and there will be an explosion of information. We may follow many people and slowly filter out those that are useful to us. We may join many Discord channels in the process of doing tasks, and complete many tasks issued by the project party in the channel, or be forced to chat about meaningless topics with all kinds of strangers in the channel. We may even draw or sing because of the requirements of the project party.
However, it is not a big problem. Our professional capabilities are improving rapidly, and we may even win a few awards. We will not need to do this in the future because we will slowly begin to stop accepting PUA from project parties.
7. Occasionally, you may find that a blogger has published a QR code for a group chat. If your hand speed is fast enough, join it and feel the enthusiasm of other Web3 leeks.
8. Buy 10USDT of Bitcoin on the exchange, open your account every day to feel its fluctuations, maybe one day it becomes 8, another day it becomes 12;
9. We begin to feel that a certain blogger seems quite reliable. One day he recommends a certain token, or we begin to feel that an article related to a certain project is too reliable: go to Binance or EURUSD to buy 10USD. Do not buy tokens that cannot be found in these two exchanges. Feel your own choice.
Keep your hands off it, refer to the trading plan and positions we mentioned, and feel the waiting process.
10. We will slowly start to download a lot of different wallets and browse the websites of many project parties (be careful not to connect to random wallets. If you connect to the wrong phishing website and lose your money, it doesn’t matter. We probably won’t put a lot of money in during the novice period. Change to a new wallet and don’t use the old one.) We start to try various projects constantly, and the operations are no longer difficult for us.
11. We may have slowly downloaded Telegram, because only 0.1% of the information in this software is true, but some project parties need to use it for their tasks, so it was not recommended before. It should be noted that you should not believe any private chats in Telegram, do not add any friends, and treat any information as air, and there will be no problem.
12. The master only leads you to the door, but it is up to you to practice.
If you act fast, you can become a qualified Web3 leeks in one month. We start to be familiar with various concepts such as local dogs, MEME, NFT, first-layer and second-layer networks, Bitcoin networks, inscriptions, and runes. We will also start to shout in various groups that the bulls are back. If you are lucky, you can make a lot of money by clicking the mouse without spending a penny this month. Some gamblers have long forgotten what a position is. 100u can no longer stimulate their nerves. Maybe 1000u or 10000u has been lost.
6. Ending (heartfelt part):
I hope to do my best to help new friends understand the world of Web3 at the lowest cost and get the possible benefits from it, but in fact, you and I both know one thing, investment experience is mostly lost money. I really want to tell you not to be afraid and to dare to operate, but I am afraid that some people will lose their money in two days of blind operation. You can hear some truths when you first enter the circle, but when we come back after losing a circle, we find that the simplest, most sincere and most useful truths are still these simple twenty words:
Don’t open contracts, control your positions, plan your trades, and hold on to the long term.
Some people in the A-share market can hold on to a stock for seven or eight years, but when it comes to Web3, they want to sell it if it doesn’t rise in five minutes. Why?
Many people say that it may be because they don’t understand Web3, but these people may not understand stocks either.
The biggest reason is fear. I know they are afraid that when they wake up, the entire Web3 will be gone.
But you have already come in, so if you are afraid, leave quickly, don’t hesitate, because indecision will leave you with nothing.
This is the industry that is closest to money as I see it currently, and it is also the industry that loses money the fastest that I see it currently.
We will gradually discover that in all money-making industries, most of the people who make money are the first ones to try.
From the stock market, real estate, and the Internet to Taobao and Douyin.
When Taobao first started, people would take pictures of Sijiqing's clothes with a 300,000-pixel mobile phone every day and put them online to sell for three to five times the price. Even though they didn't offer free shipping, people still bought them.
When TikTok first started, a random post of a cat could get 10 million views.
Why? Because these industries all have similar attributes at the beginning.
There is a lack of rules and too much money but too few people.
When there are more people and the rules are perfected, everyone will want to squeeze in and get a share, and if you come in you will just be fertilizer.
You can only follow the rules set by your predecessors and eat the leftovers under other people's rules of the game.
Opportunities are accompanied by risks. In a chaotic industry, people climb up by stepping on countless people. Protect yourself and don’t become the one who gets stepped on.
However, the fact that you can see this article means that you are already very fast. Don’t be anxious, wait patiently, there will always be a chance for you to get on the market. Some people are as anxious as a monkey, and they go all in as soon as they learn how to download the exchange. Can this have a good ending?
I hope that you who have read this article carefully will not be like this.
Stay sane, stay reverent, and hopefully you and I will see the day when spring comes.
Friends who are interested can add me: lemontik. Why put it at the end? I don’t want to cause trouble. I hope those who add me are friends who have read this and recognized me.
If you like it, please like my article. Thank you.
I would like to reiterate that this article does not constitute any investment advice.
#Blockchain#Web3Community#Cryptocurrency
