Six Survival Rules in the Crypto World:
1. Be cautious when dabbling in cryptocurrency trading, unless you are professional and consistently profitable.
Unless you can treat cryptocurrency trading as a full-time job and its profits are sufficient to sustain your livelihood, it is not advisable to easily venture into this field. The risks of trading cryptocurrencies are extremely high, so proceed with caution.
2. Beware of 'insider information' and avoid falling into scams.
Maintain a high level of vigilance towards anyone claiming to have 'insider information', regardless of their identity. This information is often unreliable and may even be a scam tactic.
3. Conduct in-depth research on projects to understand comprehensive information.
Before purchasing cryptocurrencies, it is essential to conduct thorough research on the selected projects. This includes understanding key information such as the project's management team, competitors, profit model, and growth potential.
4. Abandon extreme trading and pursue reasonable profits.
Do not attempt to buy at the lowest point and sell at the highest point, as this is nearly impossible. Rational investment and pursuing a reasonable profit range is the key to long-term success.
5. Focus on specialized fields and avoid blindly following trends.
Do not try to become an expert in all fields. Choose the area you know best and are most interested in for investment, whether it's NFTs, DeFi, spot trading, or options. Focused and in-depth understanding is the key to success.
6. Simplify your investment portfolio for better management.
Do not purchase too many types of cryptocurrencies; it's best to choose only a few for investment. This ensures you have enough time and energy to closely observe and manage these investments, thereby improving your chances of success.
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