In that rental apartment from 2018 where I could fry eggs, the fan was more exhausted than I was — creaking and stealing air from me, the sweat on my back could raise fish, I stared at my phone screen, my fingers shaking like I had Parkinson's, hesitating for a full 3 hours before finally pressing the 'Confirm' button.
With the 3000 yuan I saved from serving plates in the restaurant for half a year, I got 1.5 'big pancakes' (priced at 2000 yuan each at that time). Back then, I never could have imagined that this impulsive decision would lead me to struggle for 7 years in the crypto world, from almost becoming rich to crashing back to square one, and then managing to stand firm through 3 rounds of bull and bear markets? Today, no holding back, I'll share with you the 4 life-saving rules I've learned from my losses and 1 heartbreaking truth, which can help beginners avoid 3 years of detours!
1. First, highlight the core point: surviving in the crypto circle is 100 times more important than earning quickly!
I've seen too many magical scenes: someone mortgaged their wedding house and jumped in, only to see the K-line plummet all the way, ending in a divorce; someone relied on luck to make 10 times their investment, then turned around and poured all their wealth in, only to go to zero in less than a month; and there are those who hang around communities waiting for 'insider information,' only to find that the so-called 'hundred times coin' is just a tool for others to harvest their money.
After 7 years of ups and downs, I have come to a realization: this market never lacks opportunities, but lacks those who can withstand volatility. Those who flaunt luxury cars and mansions are either using Photoshop to attract traffic or are just lucky ones who temporarily hit a trend; those who can truly make money long-term are all low-key, disciplined 'old hands'—not following the crowd, not being greedy, and sticking to the bottom line.
2. Four life-saving pieces of knowledge: I exchanged 6 million for these lessons, so understand them to avoid pitfalls!
1. Invest spare money! Don't throw your 'emergency funds' into the K-line.
This is the bottom line that I repeatedly emphasize, there is no exception! My neighbor impulsively mortgaged their only house back then, but when they encountered a market winter, not only did they lose their house, but they also fell into a huge debt and now can only rent a basement.
From the very beginning, I set strict rules for myself: only money that I absolutely won't use in the next 12 months qualifies to enter this market. During the big correction in 2022, I had only 18 yuan left in my account, but because my living expenses and rent were already saved separately, I didn't panic—I continued to eat and sleep as normal, watching the K-line like I was watching a TV show, which instead helped me avoid the urge to panic sell.
My point of view: The K-line in the crypto circle is a 'magnifying glass of human nature.' Those without money or confidence will eventually be consumed by fear. Don't think about 'turning over a new leaf' with this; first ensure you don't affect your normal life, so you can keep your composure in the market.
2. Run 1/3 when you profit 50%! Don't fall in love with the K-line.
During that crazy surge in 2021, I hit a popular digital asset, rising from 0.05 to 0.7. At the time, I was staring at the screen drooling, calculating in my mind 'if it rises a bit more, I'll sell,' but ultimately greed took over, and I slid down from the peak to the bottom, leaving with tears in my eyes.
Since then, I have established a strict rule: every position must set 'automatic protection.' When profits reach 50%, reduce by 1/3; when profits double, reduce again by 1/3; let the remaining stay as it is. Don't think 'it's a pity to sell early'; in this market, 'taking profits safely' is always more reliable than 'biting off more than you can chew.'
My point of view: The K-line is like a scumbag; the better they treat you (the crazier the rise), the more you should keep your distance. Emotions are the enemy of profits; handing decisions over to rules is 100 times more reliable than relying on feelings.
3. Manage your own chips! Don't hand your money over to others for 'safekeeping.'
A few years ago, a certain major custody channel went bust, and the little pocket money I had there is still 'in legal limbo,' whether I can get it back is still uncertain. After suffering this major loss, I completely woke up: assets not under your control are essentially not yours.
Currently, over 80% of my digital assets are stored offline, with the passwords memorized (incidentally preventing Alzheimer's), and nobody can take them away. Don't put all your chips in one place for convenience, and don't believe the nonsense about 'platform guarantees'—promises are worthless in the face of interests.
My point of view: The core of the crypto circle is 'decentralization.' If you can't even hold onto your own assets, how can you talk about embracing trends? Keep your chips in your own hands; you'll sleep soundly.
4. Don't believe in the 'myth of hyping!' Real good projects are working quietly.
90% of the 'good news' in the market are traps: those shouting 'hundred times coins' in communities are either scammers or just trying to harvest money; those posting profit screenshots on social media are most likely using Photoshop to attract attention.
I've spent 7 years summarizing a set of information filtering methods: only look at 3 indicators—code update frequency (can they keep working), real user growth (not fake data), and application implementation (does it have real utility). Those assets that rely on hype and have no real value rise quickly but fall even faster; don't even touch them.
My point of view: True quality assets never need to be proven by 'shouting.' Just like reliable people don't need to brag, good projects naturally attract quiet investments.
Finally, let me say something from the heart:
If I could have endured the panic back then and not left the market at the trough, I could now be a 'laid-back rich second generation' (but sadly, there are no 'ifs')! However, as the saying goes, every cloud has a silver lining; the pits and tears I’ve experienced over these 7 years have turned into the valuable knowledge I can share with you today.
There are no fairy tales of overnight wealth in the crypto circle, only the truth that 'the longer you survive, the more you can earn.' If you don't want to be the one getting harvested, and you want a piece of the pie in the next cycle, hurry up and follow me! I will continue to share practical skills: how to filter quality assets, how to set stop-loss and take-profit orders, how to avoid scams...
