From sleepless nights to calmly holding coins, this is my true experience.
My journey in the cryptocurrency world began over a decade ago when I entered the market with the 180,000 yuan I saved from working. I have experienced the ecstasy of sudden surges and the despair of halving. During the hardest times, I couldn't sleep all night and often woke up in the middle of the night to check the market. Although my assets have slowly accumulated to 80 million yuan, I have always kept a distance from contracts and focused on spot trading.
Step 1: Choosing a cryptocurrency is like finding a partner; don't pursue perfection but aim for reliability.
There are so many cryptocurrencies on the market that it's dazzling, but not every one of them is suitable for ordinary people to hold long-term.
My principle is: mainstream coins as a foundation, potential coins for enhancement; I will never go all in on any one coin. Bitcoin and Ethereum should be the 'keystones' of your asset basket, accounting for at least half or more. Although these won't make you rich overnight, they also won’t drop to zero overnight.
Choosing coins is not like choosing beauty; you can't just look at how strong the upward momentum is. You need to see what problems the project actually solves, whether the team is reliable, and whether the community is active. It’s like finding a partner; being solid and dependable is better than being flashy. I’ve seen too many people chasing after various 'top-tier projects,' only to either end up as victims of a pump-and-dump scheme or not even know how to write code.
Step two: Store assets; safety is always the top priority.
Put assets in exchanges for convenience, and wallets for safety. This is my basic principle.
Coins used for small, daily transactions can be kept on reliable major exchanges, but large assets must be transferred to your own wallet. It’s like you wouldn’t take all your belongings out in your pockets.
Hot wallets (like mobile wallets) are suitable for frequent operations with small amounts of funds, like your daily wallet; cold wallets (hardware wallets) are suitable for long-term storage of large assets, akin to a safe. My personal allocation is: about 10% in exchanges for trading, 20% in hot wallets, and 70% in cold wallets.
Remember: mnemonic phrases are more important than passwords! Never screenshot them and store them on your phone; it’s best to write them down on paper and keep them in several safe places. I've seen too many people permanently lose their assets due to losing their mnemonic phrases; that kind of despair is truly irretrievable.
Step three: Timing for buying; don’t pursue bottom fishing or peak escaping.
No one can accurately buy at the lowest point or sell at the highest point; acknowledging this is the first step to becoming a mature investor.
My strategy is: focus on dollar-cost averaging, with large dips being an opportunity to increase holdings. Invest a fixed amount at a fixed time each month and increase positions during market downturns. This avoids the risk of missing out while smoothing out buying costs.
Don’t panic when the market drops or feel FOMO (fear of missing out) when it rises. There are always opportunities in the market; if you miss one, there will be another. Initially, I lacked a stable mindset and traded frequently, resulting in earnings not even covering transaction fees.
Step four: The mindset of holding coins; calmness is the greatest treasure.
One day in the crypto world is like a year in the real world. This not only refers to large price fluctuations but also to the rapid change of information.
Don’t stare at prices every day; this will only make your emotions fluctuate more. My current habit is to check the market at fixed times once or twice a day, rather than refreshing every minute like I used to.
Market fluctuations are part of it; don’t panic during a downturn and don’t be greedy during an upturn. It’s easier said than done, but it’s indeed key to holding coins long-term. My current mindset is much more peaceful, and I can sleep soundly at night; this is more important than how much money I make.
Step five: Avoid risks; survival is the hard truth.
There are many opportunities and traps in the crypto space. It’s important to avoid sensitive vocabulary and illegal behavior, and don't say things like 'guaranteed profits' or 'safe investments.'
Don’t borrow to invest, and don’t use money needed for living expenses to trade crypto. Only use your spare cash that you can fully afford to lose for investments; this way, your mindset will be better. I’ve seen too many people use mortgages or credit cards to trade crypto, and in the end, their mindset collapses, leading to panic selling.
Diversify investments: don’t put all your eggs in one basket. A reasonable allocation of mainstream and potential coins can capture opportunities while controlling risks.
Holding coins is not about how much you earn, but how long you can survive in the crypto space. Listen less to 'experts' and do more research yourself; have fewer dreams of getting rich and focus more on practical learning.
The market is always about a few people making money, so when everyone around you is shouting that a bull market is coming, you should be cautious; when the market is in despair, opportunities might be hidden within.
After so many years in the crypto space, my biggest realization is: making money relies on knowledge and patience, not luck. Those who can hold onto their coins with a steady mindset ultimately reap good returns.
That’s all for today; the above are just my personal experiences and do not constitute investment advice. Everyone’s situation is different; the key is to find a coin-holding method that suits you.
Retail investors can also thrive in the crypto space; the key is to be grounded and not rush. Let's encourage each other! Follow Ake for more firsthand information and precise points on crypto knowledge that can navigate your journey in the crypto world; learning is your greatest wealth!#ETH走势分析 #加密市场观察 $ETH
