How can a newbie start their journey in the cryptocurrency world?
1. Dollar-cost averaging in BTC. Any newbie looking to enter the cryptocurrency world must understand that no matter how you play in this space, your core focus should always return to 'how to acquire more BTC'. When you are not familiar with various strategies, the simplest and most effective approach is to dollar-cost average in BTC. The cryptocurrency world is divided into BTC and everything else;
2. Do not rush to deny anything you do not understand; you must learn about it. The cryptocurrency space is one of the circles with the most strategies I have encountered, involving many concepts with a relatively high barrier to entry. Whatever strategy you hear about, look it up online to understand what they are doing and how much potential it has. After fully understanding, allocate your chips wisely and invest appropriately. 3. Do not have a mindset of getting rich overnight. There are too many myths about getting rich quickly in cryptocurrency. However, people often have a gambler's fallacy thinking, 'What if I am the next one?' Sorry, statistics show that while people do get rich every day, the chance of it happening to you is minuscule. The poor cannot afford to lose everything. Keep your chips safe, understand what money you should be making, and in the long run, you will outperform the vast majority.
4. Online communities are your best teachers. Engage with others, learn, and even casual chats can yield unexpected insights.
I am currently preparing to invest in a project that is expected to surge in the short term, doubling is not an issue. Friends interested in spot trading but lacking direction can like and comment '1' for shared insights.
