As a newcomer to the cryptocurrency world, the biggest fear is getting scammed. As someone who turned 10,000 into millions, let me share some hardcore tips to avoid pitfalls. If you learn these, you can at least reduce losses by 90%.
1. Don't touch projects that sound too good to be true
Any project that boasts "guaranteed profits and hundredfold returns" should be avoided. There is no free money in the crypto world; projects that can make money won't be constantly recruiting new people.
2. Don't go all in; manage your position
No matter how bullish you are on a coin, don't put your entire fortune into it. At most, invest 20% of your capital to test the waters; keep the rest just in case the market turns, so you still have a chance to recover.
3. Don't chase highs; buy during calm periods
When prices are soaring, don't impulsively chase the highs; it's often the time for big players to sell. Wait for the market to cool down and gradually position yourself during pullbacks.
4. Don't trust tips and insider information from chat groups
The "insider information" shared in WeChat groups or QQ groups is 99% likely to be a scam to take your money. Real opportunities are often quietly seized by big players.
5. Don't forget to take profits; sell when you're in the green
Once you've made a certain profit, take partial profits instead of waiting for the "peak"; no one can predict the absolute high. Remember, securing profits is the real gain.
6. Don't be afraid to cut losses; stop losses in time
If the market is unfavorable, decisively cut your losses; don't hold on stubbornly. Big players are those who can cut losses; recognizing a loss is the way to turn things around.
The crypto world is a battlefield, and very few can truly win. Remember, surviving is the top priority. Don't think about getting rich overnight; steady progress and reducing losses is a win. Big players are not greedy and rely on stability.
If you are currently losing and don't know what to do, feel free to follow me; you can find me anytime by clicking on my profile. I share all types of contract and spot trading strategies. Just trying to gain followers
