How to avoid pitfalls for Newbies just entering the crypto world

1. Do not touch the contract!!!
crypto world not only Newbie, but also many Seasoned Trader! Veterans! all died in the contract, Newbie steady do Spot, and hold on.
2. Do not play with small coins.
Most of the small coins in the crypto world are played for suckers. They fall and drop to zero directly. More than 99% of them fall, and those with small market caps and unfamiliar names should not be played. Mainstream coins should be chosen.
3. Don't play with small exchange
There is always a Rug Pull risk on small exchanges, or the network may be disconnected, and all the money inside cannot be withdrawn. It is recommended to use mainstream exchanges or split funds to put them in mainstream exchanges.
4. Don't expect too much
The era of tenfold and hundredfold in the crypto world is over. Now, major institutions and elites are getting on board. The big dividends are gone, and being able to double is already very good. Newbies who can break even have already defeated more than 90% of people.
5. Do not put money in an unknown Wallet
If large funds are advised to be kept in the wallet, because exchange also has risks, if it is a small wallet, there will also be the risk of Rug Pull.
6. Do not play ultra-short term
coin crypto world rise fall is significant, Bitcoin falling 20% in a day is also very common, alts directly Slump by 50%, very difficult to control in the short-term, hold onto the coins in your hands
7. Set stop loss and take profit
Set your own goals, and if the price drops to a certain level, execute resolutely and exit.
Sell at any position where it rises, regardless of how much it rises afterwards.
Many people lose money in a bull run because they don't take profit in time.
8. Do not bring all your funds to the crypto world
The risk in the crypto world is too high, there are risks in depositing and withdrawing funds. It is recommended to use spare funds for practice in the crypto world.
9. Keep learning knowledge continuously.
People cannot make money beyond their own cognition. Even if they make a lot of money at the beginning, if their cognition does not reach that level, they will quickly lose it and may even end up in debt. Continuous learning and improving cognition is necessary.
10. Find an experienced and reliable teacher
There are many pitfalls in the crypto world, and more than 99% of people lose money in the crypto world. It's important to find a reliable and experienced teacher who can not only help you avoid many pitfalls but also teach you valuable knowledge. However, never trust teachers who promote leveraged trading.