Here are some important tips and considerations about cryptocurrency investing and trading. Let me briefly introduce them:
1. Financial literacy: Understanding financial literacy is essential to protecting yourself and making smart investment decisions in the cryptocurrency market. Diversification and risk management are key.
2. Emotional management: Emotions are one of the biggest enemies of cryptocurrency investors. Don’t let emotions cloud your judgment. Avoid being affected by FOMO (fear of missing out) and stay calm and rational.
3. Futures trading: If you are not a professional trader, do not trade lightly. If you are not a trader, open a position blindly. Be cautious and understand the risks.
4. Secure storage: Choose a secure storage method, especially a cold wallet, to prevent funds from being stolen.
5. Over-the-counter (OTC) trading fraud: Be extra careful when participating in OTC transactions, and preferably choose a platform that has been audited and understand how it works. Many users have been scammed by OTC!
6. Do not store assets on exchanges: Avoid storing large amounts of funds on exchanges for a long time, because your funds are in your wallet rather than the exchange, which can avoid risks.
7. Don’t connect your wallet: Keep your wallet safe and avoid connecting it to unfamiliar websites or platforms. Check if your wallet is associated with a third party and then disconnect it.
8. DYOR (Do Your Own Research): Before making any investment decision, be sure to fully research and analyze whether the project is worth the investment, and don't blindly follow the trend.
9. Information quality: Choose a reliable source of information. Remove the dross and keep the essence from a large amount of information to ensure the quality of your own information!
10. Don’t be greedy: Greed is like a snake swallowing an elephant. Set a clear selling target and stay rational in investment to avoid being swayed by desire.
These tips and considerations will help you invest and trade more safely and rationally in the cryptocurrency market.
