A big shot in the cryptocurrency world once said that as long as newbies can master these eight rules, then 50,000 yuan can easily make you millions. Let’s take a look at what those eight rules are. Here are eight suggestions for newbies in the cryptocurrency world!
1. Don’t play with small currencies
Most of the small currencies in the cryptocurrency circle are used to cut leeks. If they fall, they will directly return to zero. Don’t play with those that have fallen by more than 99%, have a small market value, or have never heard of them. If you have to choose, choose the major currencies!
2. Don’t play with small exchanges
Small exchanges may run away or have their network cables disconnected at any time, and all the money in them will not be able to be withdrawn. It is recommended to use mainstream exchanges!
3. Don’t be greedy
The cryptocurrency market can experience large fluctuations, and it’s common for Bitcoin to drop 20% in a day. Even altcoins can be cut in half. So it’s better to be cautious and stop when you’re ahead. Don’t be greedy!
4. Don’t set your expectations too high
The era of hundreds or thousands of times increase in the cryptocurrency circle has passed. Now that major institutions and elites have entered the market, there are no big bonuses. It is already very good to be able to make a profit and turn over a position. If a novice leeks can break even, they have already defeated more than 90% of their peers!
5. Be sure to set stop-profit and stop-loss
Set a goal for yourself, when it falls to the expected position, resolutely exit, when it rises to the expected target position, resolutely sell, and don’t worry about how much it will rise in the future! Many people lose money in the bull market because they are greedy and don’t know how to stop profit in time!
6. Don’t bring all your money into the cryptocurrency world
The returns in the cryptocurrency world are very high, but the risks involved are also quite large. It is recommended that you use your spare money or a small investment to practice in the cryptocurrency world first!
7. Keep learning
People cannot earn money beyond their own cognition. Even if they are extremely lucky and make a lot of money at the beginning, if their cognition does not meet their expectations, they will lose it quickly, and may even be heavily in debt. Therefore, they must continue to learn and improve their cognition!
8. Find an experienced and reliable teacher
There are many pitfalls in the cryptocurrency circle. 99% of people lose money in the cryptocurrency circle. It is very important to find an experienced and reliable teacher who can also learn knowledge! Not to mention how much money you can make, at least it will help you avoid many detours and pitfalls! $BTC
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