How is the cryptocurrency market now, can we still play?

Even if you are resistant to the crypto market, you must understand it! After all, the wealth creation effect is here.

If you are from a wealthy family, it doesn’t matter whether you play or not, but if you were born into a poor family and have nothing, the crypto market is your last chance!

If you can't play in the crypto market, then there is no industry to play in. The most hot money in the world is all in it.

Newbies should stick to spot trading! Don’t touch contracts! It’s either a liquidation or on the verge of liquidation. Some people are lucky and buy at the bottom, but after a while, it will only lead you to lose it back. One of my employees heard that a colleague made millions from trading cryptocurrencies, so he ran off to trade, and lost about 1 million in contracts. Currently, he owes 600,000. He owes 170,000 to a lending platform, 40,000 to a borrowing service, 46,000 to JD, and 44,000 to a quick loan, etc. Previously, his family helped pay back 150,000, and later he borrowed more. Betting is not worth sympathy; one can only self-reflect. Life is hard, don’t gamble to win. If you win, take profits in time; if you lose, stop the loss. Don't get deeper and deeper into trouble.

Then someone might ask, how should a newbie enter the crypto market?

First, delete the shady exchanges.

If you’re going to play, play on big platforms.

Currently, I only recognize two major exchanges:

Moeu, Binance.

Second, buy valuable spot assets.

Spot assets are the coins you buy; only when they appreciate can you make money.

Start by playing with some spot trading to familiarize yourself with the trading process.

Even if spot trading drops, it won’t let you lose everything.

Don’t jump into contracts right away; contracts are for experienced traders.

Contracts allow you to long or short, leverage your capital, manage risks, and set stop-losses and take-profits, which are basic operations. Randomly opening a position will just lead to liquidation. Once liquidated, you will lose everything. The crypto market is not short of opportunities.

There are plenty of opportunities; what’s important is that you can survive. It doesn't matter if you earn little; surviving is crucial.

Contracts are about leveraging small amounts. If you have 1,000 and leverage it 10 times, that’s 10,000. It’s like you borrowed 9,000 from the platform to long a certain coin. If this coin rises by 5%, 10,000✘5%=500.

You earn 500.

If it falls by 5%, then you lose 500.

This is all under the premise that you are going long.

This is why so many people rush in, because with contracts, if your win rate is high enough, you can become very wealthy.

I have been in the crypto market for about 6 or 7 years, have faced liquidation and have had glorious moments, but what really made me money was still spot trading. At that time, I bought 2,000 at 6U each for $BNB , sold all around 20, and once you buy, you must hold on until the bull market arrives! I give market advice every day.