What are the pitfalls in the cryptocurrency world?
There are many opportunities in the cryptocurrency world, but there are also many pitfalls! Holding Bitcoin for the long term yields difficult returns, altcoins fluctuate wildly like a roller coaster, leading to a breakdown in mindset. Frequent short trades often result in buying high and selling low, chasing peaks and cutting losses, ultimately resulting in significant losses. Buying several meme coins on-chain can go straight to zero, and after claiming 100 airdrops, the profit isn't even enough to cover gas fees. Losses from NFT projects are negligible, with many whitelist scams, significant spreads in USDT deposits and withdrawals, and high risks of frozen cards.
Arbitrage, betting on openings, and private placements are all filled with risks; IEOs require large capital, and it's hard to attract people for rebates without some skills. Building a community and charging for groups is also difficult; without a background, delegated investments can lead to loss. Grid trading works in a volatile market, but can be disastrous in a trending market.
In conclusion, many so-called opportunities in the cryptocurrency world actually hide enormous risks. Stay clear-headed and invest cautiously to avoid stepping on landmines!
