Must-See for Beginners! Tips for Entering the Cryptocurrency World
Dear beginners, laying a good foundation is key. My words may sound a bit profound, but they are all practical advice. I hope the following suggestions can help you:
1. Learn more, listen less to rumors. Just because you see public accounts hyping a certain coin doesn't mean you should get excited; it could be the market makers baiting you to take the hook. Learn to analyze by yourself and distinguish between true and false information.
2. Don’t follow the crowd, and don’t be overly confident. Think you know the industry well? Be careful not to get stuck. Don’t always aim to catch the big bull coins; even if you guess right this time, you could lose everything next time. Stay calm and don’t act impulsively.
3. When you first start trading coins, it’s advisable to buy a few mainstream coins, as this poses relatively lower risk. Even if they drop, don’t worry too much; the cryptocurrency market is always fluctuating, and who knows, it might rebound one day. Relax and don’t watch it every day!
4. Invest with small amounts or spare money, as this will keep your mindset more peaceful and not influenced by emotions. Investing is a long-term process; take your time and don’t rush for quick gains.
5. Value investing or short-term speculation? You need to know in your heart. Personally, I lean more towards value investing, but of course, you can take a small portion of your funds to try short-term trading to develop your market sense.
6. Don’t always think that going all in will make you rich; that’s no different from gambling. Have you ever won a lottery? If you haven’t, don’t expect that going all in will make you wealthy.
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