🎉A Must-Read for Cryptocurrency Beginners! Nine Golden Rules to Help You Set Sail Steadily💥
Want to step into the cryptocurrency world? Don't rush, first take these nine thoughtful pieces of advice from seasoned pros, so you can navigate your path in the crypto world steadily and avoid those painful "pits"!
1. Stay Away from Contract Traps: Contracts can be something you love and hate at the same time. Countless experts have fallen for this, so beginners should stick to spot trading, hold firmly to what they have, and not be blinded by the "high returns" of contracts!
2. Small Coins? NO!: Most of those small coins on the market are tools for cutting leeks. They can drop to zero in a heartbeat, leaving no trace. When choosing coins, stick to mainstream options for safety and reliability!
3. Choose Big Exchanges!: Small exchanges? The risks are terrifying! Who knows when they might run away or go offline, and your money could be lost. Stick with mainstream exchanges, it's safer to spread out your funds!
4. Don't Have Too High Expectations, Steadiness is Key: The era of tenfold or hundredfold returns is over; now institutions and elites have entered the game, and the big profits are gone. Don't always think about getting rich overnight; being able to double your investment is already good; for beginners, not losing is winning!
5. Choose Your Wallet Wisely!: It's recommended to store large funds in wallets, but be careful with smaller wallets too. Don’t pick one that might run away, or you’ll regret it too late!
6. Ultra-Short-Term Trading? Not for You!: The crypto market is unpredictable; it's normal for Bitcoin to drop 20% in a day, and altcoins can be halved in an instant. Short-term trading is too hard to control; it's better to hold long-term, steadiness is key!
7. Set Stop-Loss and Take-Profit Points: Set a goal for yourself; decide at which price to sell if it drops, and at which price to take profits when it rises. Don't be greedy—many lose in bull markets just because they can’t take profits in time!
8. Don't Bet Your Entire Fortune on Tomorrow: The crypto market is risky, and there are risks with both inflows and outflows. Use spare money or small amounts to practice, don’t throw everything in at once, or you might end up with nowhere to cry!
9. Keep Learning, Never Stop: You can’t earn money beyond your own understanding. Keep learning to enhance your knowledge and skills, so you can navigate the vast ocean of cryptocurrency steadily!
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