Cryptocurrency Survival Tips
1. Be Cautious When Exchanging Coins
Don't easily swap the coins you hold; believe that they will eventually have their opportunities. Frequent exchanges may lead to missed chances.
2. Beware of Popular Coins
Coins that everyone is discussing often approach their price peak. There may still be a chance in a bull market, but it's hard to say in a bear market, so don't easily touch them.
3. Don't Believe in Rumors of Skyrocketing Prices
Claims that a certain coin can multiply by hundreds or thousands are often made by either fools or scammers. Even if such a coin exists, can you resist selling during its surge? Don't trust such statements blindly.
4. Stay Away from Contracts in a Bull Market
Playing contracts in a bull market has a low probability of surviving until the end of the bull market; the risks are significant, so it's best to avoid them.
5. Keep a Calm Mind
When everyone is caught in a FOMO (Fear of Missing Out) mood, you need to assess risks and returns rationally. Protecting your principal is key; don't blindly follow the crowd.
6. Don't Trust Contract Indicators
Regardless of whether it's a bull or bear market, technical indicators for contracts are often unreliable. So-called win rate indicators are often traps set by manipulators, so don't be misled.
7. Stick to Your Choices
Coins that survive in a bear market are likely to appreciate in a bull market, so believe in your choices and don't waver easily.
8. Manage Your Funds Wisely
If your funds exceed 100,000, avoid contracts; holding mainstream coins is relatively safer. If your funds are smaller, you can take some risks with altcoins, but do so cautiously.
9. Learn to Go with the Trend
Most of the time, the cryptocurrency market is in a downtrend or sideways state, with only a small portion of the time in an uptrend. Have enough patience; going with the trend will help you cope better.
10. Value the Timing of Exit
Making money in a bull market is not necessarily guaranteed; the real profit comes from successfully exiting at the end of the bull market. When the bull market ends, assets can shrink significantly, and a bear market is even scarier, as assets may go to zero. Only 10% of people in the cryptocurrency world make money, and most miss opportunities due to greed.
Remember these key points to have a relatively stable experience in the cryptocurrency world.