In the cryptocurrency world, there are some lesser-known tips that are actually super practical. Today, let's reveal a few!

Cost Averaging, it's not as simple as you think

For example, if you bought a coin for 10 dollars, spending 10,000 dollars. Later, when the coin drops to 5 dollars, you throw in another 10,000 dollars. You might think the average cost is 7.5 dollars? Wrong! It's actually 6.67 dollars. This kind of calculation is particularly important during significant market fluctuations; mastering it allows you to manage your positions better.

Compound Interest, that's a tough character

Imagine you have 100,000 dollars, and you earn just 1% every day. If you earn every day for a year, your money would grow to over 1.32 million. If you persist for another year, the dream of becoming a millionaire is within reach. Of course, this is an ideal scenario, but the power of compound interest should not be underestimated.

Probability and Take Profit/Stop Loss, you need to understand these

Assuming you have a 60% chance of making money with each investment, if you take profit at 10% and cut losses at 10%, doing this 100 times could triple your money! But the premise is that you must act like a robot, strictly following the plan without being swayed by market fluctuations.

Greed, that is your great enemy

Starting with 10,000 dollars, if you earn 10% each time, it won’t take long before you become a millionaire, or even a billionaire. But the problem is, almost no one can resist being greedy, and the result is often that after making a little money, they get carried away and end up losing everything. Therefore, controlling greed is the key to long-term success.

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