Three Major Secrets of Trading Coins!
Secret One: Small, unofficial websites for trading coins should not be trusted with large funds. If a website disappears, it can be a huge loss. Stick to reputable larger platforms like Huobi, Bit Era, etc.
Secret Two: Recently, there are many coins being crowdfunded, so be cautious. Not all of them are not worth investing in, but many can be traps. Don't rely on luck; understand the project clearly. Just because a coin is being crowdfunded doesn't mean you should invest in it, as that would be like gambling.
Secret Three: The cryptocurrency market is currently sluggish, and the overall trend is cooling down. Focus on short-term operations with a wait-and-see approach, and act when the time is right. For long-term investments, consider selecting high-quality coins that are ranked in the top 20 globally, and you can build your position gradually at lower prices.
(Remember, do not go all in, which means don't buy a lot of coins at once or invest too much money. You can start with a half position, investing half of your intended amount to control risk and capital. After that, if the price rises or falls, you can replenish your position or cut losses in a timely manner. This will be more conducive to making profits. If you don't replenish in time, you can minimize your losses. Trading coins is all about making money, so it's important to be prepared and avoid unnecessary losses.)
Finally: An extremely important point, do not follow the crowd. Many newcomers start trading coins and, seeing someone in a group saying to sell or warning of a major drop, panic and sell. This is actually the dumbest thing to do, as many people may either have no coins or are just trying to scare novices to create panic, making you sell at a low price. Some people can't handle the fear and quickly sell all their coins. After you sell, those who created the panic buy your coins at a low price. Selling low can lead to significant losses. The ones creating panic and buying low are the ones who profit. Remember, advice from others is just that—advice. The key is to make your own judgment.
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