(1) Choose a reliable exchange
It is very important to choose a reliable trading platform for cryptocurrency trading. Otherwise, the exchange will run away and your coins will be gone! FTX will go bankrupt in 2022, can you believe it? This is an exchange with a valuation of over 10 billion US dollars. Currently, the safest exchange is Binance, which has sufficient reserve assets.
(2) Understand the basic knowledge of Web3
You should at least understand what USDT is, what is on-chain, what is a public chain, what is BTC, and ETH! Otherwise, you will not be able to buy any coins. The above is just the most basic introduction. Follow me and I will show you how to get started.
(3) Position management is really important!
The risk of cryptocurrency speculation is really high, so you have to control the amount of investment funds. Don't invest all your money in the cryptocurrency market to avoid huge financial losses. Of course, Bai Ding invested all his spare money in the cryptocurrency circle. But my big funds are in Bitcoin and Ethereum, and only 30% of the funds are allocated to altcoins and local dogs. Including my experience of catching 102 times, I am definitely not heavily invested. Because investment is risky, be cautious when you go all-in! What I need is to make money lastingly, not to make 100 times this time and zero next time. Only by controlling the position well can you continue to have income!
(4) You can learn from KOLs, but don’t follow them blindly.
When you are a newbie, you definitely don’t know anything, so at this time, if you have a guide (like me), I can help you a lot, how to register an exchange, how to buy coins, how to withdraw coins, how the market moves, when to buy and sell, I can help you. But you can’t listen to me in everything, because the money is yours! And all kols can’t be invincible generals, if that’s the case, why would I write answers here and do self-media? If I were an invincible general, I would have been the next Buffett
(5) Go with the flow
Suppose you really can't help it and want to open a contract at a low multiple to gamble. Then you have to go with the trend! In a bull market, you should not short, because the rise is a high probability event. In a bear market, you should not go long, because the decline is a high probability event. For example, now is the early stage of the bull market, you must not short! Last week (when Bitcoin rose from 28,000 to 35,000), two kols went against the trend and shorted, losing tens of millions. I don't want the next person to be you! #BTC
