Avoiding the following traps means you have already surpassed 90% of newcomers:
1. All-in on a single asset: No matter how enticing a project's promotion may be, you should never invest all your funds; you should never put all your eggs in one basket;
2. Brainwashed by stories of sudden wealth: Be cautious of the narratives like 'people around you have made millions'; such stories are often tools used by promoters to attract new investors;
3. Ignoring regulatory risks: The policy differences regarding cryptocurrency in different countries are significant, so it's essential to understand the regulatory rules in your area in advance to avoid legal violations;
4. Operating on public networks: Logging into exchanges or wallets in environments like internet cafes or public WiFi can easily lead to account theft;
5. Trusting 'master recommendations': Recommendations from unqualified 'analysts' are often just for cutting profits; valuable information needs to be unearthed and verified by oneself.
6. Ignoring token unlocking risks: Some projects have a large number of unlocked tokens, and future unlocks may lead to a surge in circulation and a price crash, so check the token distribution plan in advance.
7. Frequent trading: High-frequency buying and selling can accumulate high fees, and it is easy to make misjudgments due to emotional fluctuations. Newcomers should reduce trading frequency and focus on long-term value.
5. Underlying thinking: Long-termism is the ultimate password for survival in the cryptocurrency world.
The cryptocurrency world is not a playground for gamblers, but an arena for cognitive players. Those who can survive long-term and profit possess three core traits.
1. The ability to continuously learn. Blockchain technology iterates rapidly, from Layer 2 scaling to the integration of AI and Web3, with industry trends constantly changing. Newcomers need to maintain a learning habit: understand the core logic of white papers, learn the technical differences among mainstream public chains, track regulatory and technological upgrade dynamics, and base investments on cognitive foundations rather than luck.
2. Emotional stability and determination. Do not panic sell during market crashes, nor blindly chase highs during surges. Stick to your trading rules and do not change long-term strategies due to short-term fluctuations. Remember: BTC rose from $0.003 to $50,000, experiencing multiple drops of over 80% along the way; only long-termists can traverse cycles.
3. A baseline that respects risk. Always invest with 'spare money'—funds that will not be needed in the next 3-5 years. Even if all is lost, it will not affect your life. There are no strategies in the cryptocurrency world that guarantee profit without loss; the goal of rational investment is to control risk and ensure sustainable returns, rather than to pursue short-term profit maximization.
Finally, a piece of advice for newcomers in the cryptocurrency world: in this market, if you survive, you have already outlasted most people. When your understanding is deep enough, risk control is strict enough, and your mindset is stable enough, profit will naturally become a result of the process. May you embrace the opportunities of technological innovation while safeguarding the baseline of asset security in the wave of cryptocurrencies.
