Preface: The first element to enter the cryptocurrency circle is to firmly believe that even if Bitcoin falls to 10,000, it will rise again, and this is also true in history. Adhere to Bitcoin as the currency standard, and convert any copycat currency into Bitcoin after a sharp rise.

1. Buy when the price goes up and sell when the price goes down: If you see the price of a currency going up, you will want to buy it, and if it goes down, you will sell it in a hurry. If you are not firm in your mindset, a wave of ups and downs will make you give up your chips at any time.

2. Ignore stop loss: Without the awareness of stop loss, you still hold on to fantasy even when you fall into the abyss. Sell when you should sell and stop loss in time to avoid greater losses.

3. Don’t learn, just follow rumors and blindly follow the so-called “inside information”. The information you can see is what the dealer wants you to see.

4. Frequent operation: Watching the market all day long, always trying to make money by short-term operation. Non-experienced players should not short-term operation, as a sharp drop may trap you. A sharp rise may prevent you from getting on the train.

5. Not doing homework: Blindly buy coins. Practice basic skills first and learn how to do project background and technical investigation. You must study more before investing. Don’t just think that a coin will rise.

6. Emotional investment: When there is a profit, you become arrogant and think you are the best. When there is a loss, you lose control and can’t hold on and leave the market. Stay rational and avoid being swayed by emotions.

7. Greedy without limit: Not satisfied with profits, always want to make more. For short-term, stop at the limit; for mid-term, set a goal; for long-term, delete all software and don’t look at it!

8. Newbies use leverage: borrowing money to trade cryptocurrencies, using leverage to magnify returns while also magnifying risks. Non-experienced investors should act within their means and control risks.

9. Time is very important. The ups and downs of the cryptocurrency market can take only a few hours or even minutes! You need to set various reminders.

10. Don’t gamble on small currencies, and quit when you are ahead. 99% of the most popular altcoins will be replaced by new hotspots in the next bull market. Advice from an eight-year veteran player