In a recent X post, Binance CEO Richard Teng shared his insights into how to begin a cryptocurrency journey. Addressing common questions from newcomers to the crypto space, Teng outlined three essential tips for those looking to get started.
First, Teng emphasized the importance of understanding the fundamentals of blockchain and crypto. He advised potential investors to invest time in learning about these technologies to build a solid foundation.
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Second, Teng highlighted the necessity of conducting thorough research. He encouraged individuals to explore various blockchain networks, protocols and projects. The principle of "Do Your Own Research" is central to this process, he says.
From time to time, people ask me: “How can I start my crypto journey?”Here are my 3 tips: 1. Understand: Take the time to learn about blockchain, crypto, and other fundamentals.2. Research: Explore different chains, protocols, and projects. Key here is to DYOR (Do Your Own…
— Richard Teng (@_RichardTeng) June 26, 2024
Lastly, Teng recommended starting with a small investment on a reputable platform. He suggested that beginners should gradually immerse themselves in the crypto market, experimenting and reassessing their strategies as they gain experience.
As the CEO of one of the world's leading crypto exchanges, Teng's advice carries significant weight. However, the Binance boss explicitly stated that his advice is not financial guidance but rather tips he has gathered over the years.
Is Binance CEO bull or bear?
In addition to advice for newcomers, it would certainly be interesting to know what the current head of the world's largest crypto exchange thinks about the current state of the market. There is an answer to this question.
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As recently as yesterday, Teng admitted that he assesses his mood as maximally bullish. He partially justified his opinion by the way the number of global physical vendors accepting Bitcoin payments has grown over the past year.