Five rules that newcomers to the cryptocurrency world must master
1. Use wallets with caution, exchanges are more secure
For those of you who are new to the cryptocurrency world, don't rush to try using wallets. Storing your crypto assets in well-known exchanges is not only safe and reliable, but its user-friendly interface can help you easily manage your assets.
2. Avoid new currency traps and choose mature currencies
The volatility of new currencies is often as exciting as a roller coaster, which is difficult for novices to control. It is recommended that novices stay away from new currencies and choose those that have been tested by the market and are relatively stable, so that your investment path will be more stable.
3. Be wary of contract transactions, mainstream currencies are more secure
Contract transactions are full of unknowns and risks, and are not suitable for novices to get involved. If you are cautious about investing in the cryptocurrency world, Bitcoin and Ethereum are your first choice. These mainstream currencies are stable and reliable, and are your stepping stone to enter the cryptocurrency world.
4. Mentality determines success or failure, and market fluctuations need to be calm
Before entering the cryptocurrency world, please be mentally prepared. It is normal for the market to fall 20% in one day. In addition to Bitcoin and Ethereum, do not bet all your funds on a single currency, especially those altcoins that are full of uncertainty. Stay calm and invest carefully.
5. Position allocation determines the outcome, and reasonable allocation is the key
In the cryptocurrency world, position allocation is the key to reducing risk. Don't go all in, keep some bullets in your hand to cope with market changes. Reasonable position allocation allows you to be at ease in the cryptocurrency world and achieve steady returns.
