1. Do not touch contracts

The cryptocurrency world has not only newcomers but also many veterans! Experts! All have fallen in contracts; newcomers should safely trade in spot markets and hold on.



2. Do not play with small coins

Most small coins in the cryptocurrency world are designed to exploit investors; they can drop to zero directly, falling over 99%. If the market cap is small and you haven't heard of it, don't play with it. Choose mainstream coins instead.



3. Do not use small exchanges

Small exchanges are always at risk of running away or disconnecting; all funds inside could become inaccessible. It is recommended to use mainstream exchanges like Binance or OKEx and consider spreading funds across mainstream exchanges.



4. Don't have too high expectations

The era of tenfold and hundredfold returns in the cryptocurrency market has passed. Now major institutions and elites are entering the market, and there are no significant bonuses left. Achieving a doubling of investments is already quite good, and for beginners, not losing money is enough to surpass over 90% of people.



5. Don't put money in unknown wallets

If you have large funds, it's advisable to keep them in wallets because exchanges also carry risks. If it's a small wallet, there is also a risk of running away.



6. Don't play ultra-short-term trades

The cryptocurrency market has significant fluctuations. It's common for Bitcoin to drop by 20% in a day, and altcoins can be halved directly. It's hard to control short-term trades, so hold onto your coins.



7. Set stop-loss and take-profit orders

Set goals for yourself. If the price drops to a certain level, execute your exit strategy. If it rises to a certain level, sell decisively, regardless of how much it goes up afterward. Many people lose in bull markets simply because they do not take profits in time.



8. Don't bring all your funds into the cryptocurrency market

The risks in the cryptocurrency market are too high. There are risks in entering and exiting funds. It's recommended to use your spare money and start with small investments to practice.



9. Keep learning

People can't earn money beyond their understanding. Even if you earn a lot initially, if your understanding isn't sufficient, you'll quickly lose it back, and you might end up in serious trouble. Continuous learning is necessary to improve your understanding.



10. Find an experienced and reliable teacher

There are many pitfalls in the cryptocurrency market. Over 99% of people in this space lose money. Find a reliable teacher with experience who can also teach you. While you may not make money, at least you can avoid many pitfalls. However, never seek teachers who lead trades and contracts.





9 Tips for Newcomers in Cryptocurrency Trading

1. Just entering the market, don't rush to make money; learn quickly. If you can't even understand concepts like exchange crashes, asset cross-chain, or blockchain, how can you expect to make money?



2. Step into pitfalls, practice diligently, and ask fewer people. There are 101 opinions among 100 people in the cryptocurrency market. Speculators think investors are suckers, and speculators think investors are parasites. A says this project is a great innovation, B thinks it's just a conceptual device, and C says both are fraudsters... Who to believe? Trust no one; scammers are everywhere in the cryptocurrency space, specifically targeting newcomers with enticing services. Moreover, 99% of people in cryptocurrency are novices; who to trust?



3. The community is very important. In my opinion, 99% of chat groups are at the same level as old men in the park, focusing on idle chatter and occasionally sharing profit screenshots, which is not very meaningful. A quality community can at least show you the realities of the cryptocurrency market. What do you think?



4. Investing is your own business. How to understand this? It means that in the end, investing relies on yourself. Others' analysis and thoughts are merely for reference; more independent research is needed to form your own investment framework. Having a framework allows you to have your own stance. Don't worry about what others say; their level may not be as good as yours.



5. Contracts, short-term trades, holding coins, and NFTs—what's best? The one that suits you is the best.



6. How can you find a hundredfold coin? If you don't even understand the basic concepts and are clueless about the cryptocurrency market, asking everywhere will never lead you to a hundredfold coin; you might as well be shot. I want to emphasize that making money in the cryptocurrency market is not that easy; the easy paths won't yield returns.



7. Patience is the foundation of making money. You may need to learn for a long time and be deceived countless times to understand the situation in the cryptocurrency market. It's okay; cherish every experience of being deceived; these are lessons on the path of investment.



8. Follow the basic rules of the cryptocurrency market. If you lose, you must accept it; if you’re deceived, you must comply. Experts often do not complain, while the weak like to blame others for cutting them down and complain about unfair rules. When you don't have the ability to set the rules, keep your mouth shut.



9. Learn while practicing. Some people say, 'I've learned so many concepts and understand them all, but it's still very abstract.' This is incorrect; you should learn while practicing, experiencing various projects. Outputting is the best practice; you can also share content to attract friends for discussion.



What should newcomers in the cryptocurrency market pay attention to?

1. Don't start by using a wallet; putting coins in a well-known exchange is a safer choice, such as Binance.



2. For new coins, beginners should avoid them as their price volatility is very high, making it difficult for beginners to grasp.



3. Beginners should avoid engaging in contract trading! This is very dangerous for beginners and can easily lead to losses. Trust me, this is something you can't control! If you're uncertain about investing in the cryptocurrency market, you might consider buying BTC and ETH. Although the returns are small, the risks of losses are also smaller, and the returns and risks are the same.



4. Prepare mentally before entering the cryptocurrency market; don’t put all your eggs in one basket. A 20% drop in a day is common. Apart from Bitcoin and Ethereum, don’t invest all your resources in other single coins, especially altcoins! They could potentially go to zero!



5. Position allocation is very important! Never go all-in; you must keep some 'bullets' on hand to respond to market changes in a timely manner.