As a veteran in the crypto world, I know that beginners are most concerned about how to make money quickly, avoid pitfalls, and minimize risks. Don't rush; let me explain it in detail. Although the crypto world is ever-changing, as long as you grasp a few core points, you can at least ensure that you survive a little longer and maybe even make some profit.
The biggest enemy in the crypto world is not the market, but your greed. Many people start thinking about getting rich overnight, staring at those '10x coins' and '100x coins', fantasizing about becoming the next billionaire in the next second. I tell you, this mindset will eventually lead to doubting life itself. My principle is simple:
If you understand it, go for it; if not, don't touch it.
Invest in projects you are familiar with, hold onto the coins you have, earn what you should earn, and earning a little is better than losing everything. Even if the market is booming, keep a string in your heart, take profits when you see them, and don't think about hitting the ceiling; by the time you turn back, you might have lost your principal.
DeFi, contracts, leverage—don't these terms sound exciting? It's always ten times leverage, and you think you can 'make a fortune'? Wake up, don't dream; in the crypto world, liquidation of contracts is just a common occurrence.
Beginners with no foundation should avoid leverage!
I have friends who, due to a moment of greed, opened a high-leverage position and ended up liquidated in less than an hour, instantly returning to zero. So, just play spot trading, take it steady, and wait until you have experience to talk about contracts.
There are always many 'fantastic' stories on-chain:
• Some coin is about to skyrocket
• Some project can airdrop huge amounts
• Free mining machines for you
Listen carefully, these are most likely scams. The most important ability for on-chain players is to distinguish between true and false.
Remember:
1. There won't be free pies falling from the sky; what falls is a trap.
2. Don't easily believe 'wealth opportunities' sent by strangers.
3. Don't click on strange links; be careful of being scammed.
Over the years, I've seen many so-called 'high-yield projects', often claiming annual returns of 1000% and quick paybacks in a few days. These are basically games of hot potato; don't be foolish. Projects that truly make money won't have such outrageous returns. Remember: the higher the risk, the more tempting the return, and the more dangerous it is. Besides, if such an opportunity really existed, how could others possibly tell you about it? They would have already made their fortune quietly.
In the crypto world, the biggest fear is having your wallet stolen. If the coins you've worked hard for are transferred away overnight, that would be regretful. So you must pay attention to wallet security:
• Do not store your private keys and mnemonic phrases on your phone or in the cloud.
• Use a hardware wallet; even if it's expensive, it's worth it.
• Enable multiple layers of verification to give yourself a sense of security.
Fluctuations in the crypto world are completely normal; up 50% today, down 70% tomorrow. Just get used to it. The key is not to let emotions take over.
My secret is:
• Don't get too excited when prices rise; rationally take profits.
• Don't rush to sell when prices fall; patiently wait for opportunities.
Remember, those who can endure are the real winners.
Information in the crypto circle is everywhere, various groups and influencers speak fantastically. What you understand is golden advice, what you don't understand is just noise.
• Choose a few reliable information channels, such as experienced old players or professional analysts.
• Don't be swayed by various KOLs, their 'buy points' and 'sell points' may not suit you.
In the world of crypto, where the winds rise and clouds surge, the true big shots are not those who shout orders every day, but those who can steadily make money amidst the volatility. Don't think about getting rich overnight; remember, staying alive and making money is the key. If you can remember these few points, at least you won't be left in tatters.
The crypto world is deep; don't play too aggressively, but don't be timid either. Opportunities will always be there; if you follow the right people, making some money isn't that hard.
