5 tips for newcomers to enter the cryptocurrency circle, you will save a lot of "tuition fees" after reading them!

Many people just entered the cryptocurrency circle, always thinking about getting rich overnight, but ended up falling into countless "pits". Today I will share some tips with new friends in the cryptocurrency circle to help you save a lot of tuition fees.

1. Don't be swayed by FOMO

There is a special term in the cryptocurrency circle called "FOMO", which means fear of missing opportunities. Many newcomers see a certain coin soaring, and they rush in immediately for fear that they will not buy it. What's the result? Often they just bought it and caught up with the callback, and lost a lot of money. Remember, there are always opportunities, don't rush to chase high.

2. Risk control is the first priority

For any investment, risk control is always the top priority, especially in the volatile cryptocurrency circle. The easiest mistake for newcomers is not to set a stop loss, and hold on to the losing coins, hoping that it will rise back. The fact is that many times the more you hold, the more you lose, or even return to zero. Set a stop loss point so that you always have a way out.

3. Don't invest without understanding, and don't believe in "insider information"

Many newcomers rush in immediately when they hear the so-called "insider information", and even go all in. In fact, 99% of the "insider information" in the currency circle is fake, purely for the purpose of harvesting small leeks. Every investment should be based on your understanding and trust in the project, rather than blindly following the trend.

4. Be careful of air coins and scams

The currency circle is a mixed bag, and there are countless air coins, pyramid scheme coins, and scam coins. Newcomers should be especially wary of those currencies that look beautiful but have little value in reality. Remember, only those projects with practical applications and technical support have the potential for long-term development.

5. Never be greedy

The currency circle fluctuates greatly, sometimes it rises quickly, but it also falls sharply. Another mistake that newcomers often make is greed. They want to rise when they see the rise, but the profit is not locked, and finally turns into a loss. It is the way to survive in the long run to stop profit in time after earning a certain goal.

The currency circle is full of opportunities, but also full of risks. The most important thing for newcomers is not to rush for quick success, but to learn more and watch more, and operate with caution. Mastering these basic knowledge will help you avoid many detours and pay less "tuition fees"!