Newcomers to the crypto world are the most likely to fall into traps. I’ve compiled some of the harsh lessons I’ve seen firsthand.

First and foremost, stay far away from domestic coins and domestic exchanges—this is non-negotiable. Next, don’t rush into contracts; you should spend at least half a year understanding them thoroughly before getting involved, or you’ll risk liquidation. Also, be cautious with “土狗” (local projects); the waters are very deep. You need to research the team background, community enthusiasm, and storytelling thoroughly. Honestly, this requires strong English skills, the ability to access the internet securely, and a lot of time for investigation.

I especially want to emphasize: never copy others’ trades. If you follow a big V (influencer) on how they operate, and buy accordingly, why do they always make money? Because they’re taking advantage of your losses. Your real money loss is their profit in their accounts. This is a zero-sum game—don’t be naive.

Finding a reliable person to guide you is also very important. Trying to figure things out alone might take half a year or more. The usual approach is to position yourself before the bull market arrives, and then gradually sell as the market heats up.

Finally, don’t blindly trust technical indicators. Master two or three enough; what’s crucial is mental discipline—being able to hold onto profits without greed, and not panicking when facing losses. Have you ever wondered why exchanges set liquidation cooling-off periods? It’s not just a feature for idle time; it’s derived from analyzing massive amounts of data.