As the popularity of cryptocurrencies continues to rise and BTC constantly approaches the 100,000 mark, more and more people want to enter the crypto space to seek fortune. However, this market is full of opportunities and
traps, making profits in it is not easy. Below, I will briefly explain how newcomers can get started in the crypto space and avoid falling into traps.
1. Learn basic knowledge
Before deciding to enter, understand the basic knowledge of cryptocurrencies and blockchain technology, as well as how the market operates. Once you master this basic knowledge, you can try small amounts to familiarize yourself.
Understand the market trading process, or use trading tools to assist in judgment to help you achieve stable returns amidst market fluctuations.
to prevent theft or scams.
Choosing a safe and reliable trading platform is as important as choosing a bank. Beginners can choose those platforms with good reputations, a large user base, and strong compliance. The two major platforms I recommend are OKX and Binance, which have good reputations and strong security measures to ensure your assets are not threatened,
2. Choose a reliable platform; safety comes first
to prevent theft or scams.
OKX referral link: Register for OKX and enjoy a permanent 20% cashback
Binance referral link: Register on Binance and get a 10% cashback
3. Keep up with market trends and seize opportunities
The crypto market is highly volatile, so it is necessary to keep an eye on industry trends and market conditions.
· Join social media groups
Telegram and Discord: Many cryptocurrency projects and trading communities are active on these platforms. By joining relevant groups, you can get market news and discussions in a timely manner.
Twitter: Follow industry leaders, project parties, and analysts' Twitter accounts to get real-time information and market analysis.
· Subscribe to news websites and KOL analysis
Cryptocurrency news websites: such as CoinDesk, CoinTelegraph, etc., providing the latest market trends, policy changes, and industry analysis.
Professional blogs: Some investors and analysts share in-depth market insights on personal blogs. Regular reading can help you understand different perspectives.
Famous live streams: Some experienced analysts provide live streams that can offer market insights, allowing you to rationally absorb useful knowledge points, but also be cautious of following risks.
· Use professional market tools
Market applications: Download professional market applications like AICoin, bbx, Coinmarketcap, etc., to have professional candlestick charts and monitor price changes, trading volume, and market capitalization in real-time.
Set price alerts: Use these tools to set price alerts so that you can respond promptly at key price points.
4. Choose an investment strategy
Lazy strategy: Buy in when the market is good, and wait to sell when the bull market comes. This strategy is suitable for investors with limited funds, as it can avoid the risks of frequent trading.
Diversify investments: Try different investment opportunities, even small investments can gradually accumulate wealth. Participating in airdrops, DeFi projects, etc., are good options.
choice, but this type of professional threshold is quite high and has extremely high risks. It is more recommended to adopt stable investment strategies, such as steady arbitrage, which can reduce investment risks while
and have good returns.
The AICoin PC client provides a free smart arbitrage tool. Its advantages include supporting three arbitrage modes: automatic arbitrage, professional arbitrage, and arbitrage opening.
position liquidation, and professional arbitrage can also achieve cross-platform hedging arbitrage, catering to audiences ranging from beginners to professional traders, and even asset management institutions.
5. Develop personalized strategies and operate steadily
It is very important to establish a clear investment strategy before entering. Whether it is long-term holding or short-term trading, you can optimize your investment decisions using stable strategy tools.
strategy to improve win rates, thus maintaining stable profits.
On this basis, you can use grid trading tools to automate your trading strategies and reduce the risks of human operation.
6. Strictly control risks and lock in profits
Controlling risk is the way to survive. Setting stop-loss points and diversifying investments can reduce risks. Additionally, it’s best to include stop-loss and take-profit when opening a position to better lock in profits.
Set profits to reduce the risk of liquidation.
7. Continue learning and adjust at any time
The crypto space changes rapidly; new projects that make money today may drop significantly tomorrow. Newcomers need to continuously learn about new projects and new technologies to keep pace with the market. Only by
Keeping up with the times is essential to adapt to the ever-changing market environment and may provide a glimmer of profit opportunities.
8. Beginners should avoid contract trading
Contract trading carries huge risks, and beginners should focus on spot trading. At this stage, you can use grid trading tools for spot trading to reduce risks and improve operational flexibility.
flexibility.
With the above suggestions, newcomers can enter the crypto space with more confidence and use various tools to achieve stable profits. Stay rational and don’t rush to succeed; this is the key to success.
key.
The crypto space is full of opportunities, but what’s lacking are prepared and strategic individuals. Before entering, lay a good foundation and don't rush to succeed. As long as you are steady and reliable,
Take it step by step; earning your first pot of gold is not that difficult. Lastly, maintain a stable mindset and don’t let temporary fluctuations affect your judgment.
I hope these suggestions can help you. More practical tips will be continuously updated. Wish everyone a fruitful experience in the crypto space!
