How to avoid pitfalls when entering the cryptocurrency world as a beginner?

1. Do not invest in low-cap coins

Most low-cap coins in the crypto space are scams, they can drop to zero or decline by over 99%. If the market cap is small and you haven't heard of it, don't invest; choose mainstream coins instead.

2. Do not have overly high expectations

The era of making tenfold or hundredfold returns in crypto is over. With major institutions and elites entering the market, the big profits are gone. Achieving double your investment is already quite good; if beginners can avoid losses, they have already outperformed over 90% of participants.

3. Set stop-loss and take-profit orders

Establish a target for yourself; if the price drops to a certain level, execute your exit strategy. If the price reaches a certain level, sell decisively, regardless of how much it rises afterward. Many people lose money in bull markets because they do not take profits in time.

4. Do not invest all your funds in cryptocurrency

The risks in the crypto market are too high, and there are risks associated with both entering and exiting. It is advisable to use only your spare funds to practice in the crypto space.

5. Continuously learn and acquire knowledge

People cannot earn money beyond their understanding; even if you make a lot at first, if your understanding doesn’t keep up, you will quickly lose it back, and you could end up in serious trouble. Keep learning to improve your understanding.

6. Find an experienced and reliable navigator

There are many pitfalls in the crypto space, and over 99% of participants lose money. Find a reliable and experienced guide from whom you can learn; while it may not guarantee profits, it can at least help you avoid many pitfalls.