For newcomers in the cryptocurrency space, here are some suggestions to help avoid pitfalls:

Choose mainstream coins: Small coins carry extremely high risks, with many being scams that lead to losses; they can easily drop to zero or experience significant declines. Therefore, prioritize investing in well-known, high market capitalization, and liquid mainstream coins.

Set reasonable profit expectations: The cryptocurrency market is no longer the era of tenfold or hundredfold riches; it is now more important to focus on steady returns. Newcomers should set achievable profit targets, such as avoiding losses or making small profits, which would already surpass most investors.

Safety of funds is paramount: It is advisable to store large amounts of money in well-known, secure wallets, while even small amounts should be placed on reliable platforms. Avoid putting funds in unknown or suspicious wallets to prevent losses.

Be cautious with short-term trading: The cryptocurrency market is highly volatile, and short-term trading is difficult to manage, often leading to losses from chasing prices. It is recommended that investors hold mainstream coins and focus on medium to long-term investments to reduce frequent trading.

Set stop-loss and take-profit points: Before investing, clearly define stop-loss and take-profit levels, and adhere strictly to them. This helps control risks, lock in profits, and avoid losses due to emotional decision-making.

Invest with disposable income: Given the high risks in the cryptocurrency market, one should not invest all their funds. It is advisable to use disposable income for investments to alleviate psychological pressure and avoid making wrong decisions due to financial stress.

Continuously learn and improve: The knowledge involved in the cryptocurrency space is vast and constantly evolving. Investors should continue to learn relevant information to enhance their understanding and investment capabilities. Only through continuous learning and progress can one navigate the cryptocurrency market steadily.

In summary, investing in the cryptocurrency market is filled with challenges and opportunities. Investors should remain calm and rational, formulate sound investment strategies, and continuously improve their understanding and investment skills.

Recently, observing the primary market in the cryptocurrency space, I feel that the puppies on the Ethereum chain, associated with Elon Musk, show great potential. As the strongest meme concept, it is emerging and has enormous future development potential, making it worthy of close attention and in-depth research by investors. $BTC $XRP $DOGE

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