5 Tips for Newcomers to the Cryptocurrency Circle
1. Don't use a wallet at the beginning
For novices, it is a relatively safe choice to put coins on well-known exchanges. The security and user-friendly interface provided by the exchange can help novices better manage their crypto assets.
2. Avoid investing in new coins
The rise and fall of new coins are usually very large, and it is difficult for novices to grasp their trends. Therefore, it is better for novices to avoid new coins and choose currencies with stable markets and relatively mature markets.
3. Avoid contract trading
Contract trading is very risky for novices and can easily cause losses. If you are not sure about investing in the cryptocurrency circle, you can choose to buy Bitcoin and Ethereum. These mainstream currencies are relatively stable and suitable for novices to get started.
4. Be mentally prepared
Be mentally prepared before entering the cryptocurrency circle. A 20% drop in one day is a common phenomenon. In addition to Bitcoin and Ethereum, do not invest in other single currencies, especially altcoins, because they may return to zero.
5. Position allocation is very important
Never "all in", keep "bullets" in your hand to respond to market changes in a timely manner. Reasonable position allocation can help you maintain flexibility in market fluctuations and reduce investment risks.
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