As more and more people are entering the cryptocurrency world, as an old investor, I would like to share some important tips with new friends to help them avoid unnecessary risks. Here are some suggestions:
Be cautious when downloading software and opening links: There are many unsafe software and links in the cryptocurrency world, which is a common way for scammers to get your currency value. Especially after joining a new group, do not click on software and links sent by strangers. Make sure your device has reliable antivirus software installed, and try to avoid downloading software from unknown sources.
Choose a reliable exchange: When choosing an exchange, consider the exchange's reputation, number of users, and security. Large exchanges such as Binance and EURIT are preferred, as they have stricter security measures and more reliable user support. Small exchanges may have manipulative behavior and hidden dangers to fund security, so it is recommended not to use these exchanges lightly.
Improve account security: There are many cases of account theft in the cryptocurrency world every year. In order to protect your account security, you should pay attention to the importance of keys. Use the authenticator provided by exchanges such as Binance for login verification, which can improve the security of your account. At the same time, change your password regularly and use a strong password combination.
Choose the recharge channel carefully: Exchanges usually provide multiple recharge channels. Choose a highly rated and reputable channel for recharge, such as using a bank card to recharge. Avoid using untrusted recharge methods, such as Alipay, to avoid unnecessary risks.
Prioritize BTC and ETH: When choosing investment projects, Bitcoin (BTC) and Ethereum (ETH) are the preferred digital assets. They have wider recognition and liquidity, more stability and long-term potential. In contrast, the price of altcoins is more volatile and risky, so novices should choose carefully.
Stay calm and trade less frequently: New traders often trade frequently due to market fluctuations, but this often leads to impulsive decisions and blindly following the crowd. If you don’t have enough market knowledge and information sources, don’t blindly enter and exit the market. Stay patient and wait