A few pieces of advice for new and old investors in the crypto space! Seriously read through to avoid detours:
First Advice
The cryptocurrency market has already gone through the period of wild explosive growth; the next phase is formal financialization, a stage where capital institutions compete.
Don't dream of making tens or hundreds of times profit on a single investment anymore.
Second Advice
Investing in the primary market can indeed yield small investments with high returns, but those who recommend playing in the primary market won't tell you that 99% of projects will fail.
Even if some small exchanges list a project, when certain influencers are offloading their tokens, they will likely tell you to hold on, while they exit first.
Third Advice
Using all your funds in contract trading with high leverage may make you a lot of money, but it can also lead to significant losses.
I think no one will tell you that the essence of trading is in rolling over your positions, rather than how much you make from a single trade.
Fourth Advice
Generally, when someone is frantically trading a particular coin, it usually means we are nearing the end of that trend. At this point, if you already hold that coin, consider exiting. If you don't hold it, it's best not to enter the market now, as there’s a 90% chance you are just catching the falling knife.
Fifth Advice
If you are a university student, please prioritize your studies and treat trading as a secondary activity. If you are a young person under 25,
please focus on self-improvement first, with trading as a secondary activity. If you are under 30, prioritize finding a stable source of income first, with trading as a secondary activity.
Trading is a tough battle, not something that can be mastered overnight.
Moreover, trading is a time-consuming journey. Even exceptionally talented traders need to practice for five years to achieve financial freedom.
Having a strong ability to earn money off-exchange and access to sustainable funding from platforms significantly contributes to our success.
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