A must-read for newcomers in the cryptocurrency circle! A guide to avoiding pitfalls and keeping your funds safe!
1 Don't touch small currencies
Most small currencies are tools for cutting leeks and may return to zero at any time! Coins with small market capitalization and unfamiliar names are particularly dangerous. Newcomers are advised to focus on mainstream coins!
2 Don't expect to get rich overnight
The era of ten-fold and hundred-fold coins is gone. Now, being able to double steadily is a master. The primary goal of novices: not to lose money!
3 Choose a wallet carefully
Large funds should be placed in well-known wallets first, and exchanges are risky; small wallets have frequent cases of running away, so be sure to choose a reliable platform!
4 Don't play ultra-short-term
The cryptocurrency circle fluctuates violently, and short-term operations are extremely risky. Instead of chasing ups and downs, it is better to hold the assets in your hands steadily and reduce the frequency of transactions.
5 Set stop-profit and stop-loss
Set rules for your own transactions: leave the market decisively when it falls to a certain point, and resolutely stop profit when it rises to the target. The core reason for losses in the bull market is not knowing how to exit in time!
6 Don't take all your belongings into the market
The cryptocurrency circle is extremely risky, so be sure to invest with spare money! Try a small amount of money first, don't take risks with living expenses or life-saving money.
7 Continuous learning to improve cognition
The key to making money is to improve your cognitive level! If you don't understand, learn, and keep an eye on industry trends to avoid stepping on mines!
The road to the currency circle is steep, but only by abiding by the rules, studying hard and acting prudently can you survive in this market!
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