The few mistakes that newbies in the crypto world are most likely to make

I have seen too many Newbies lose their entire capital because of these 5 fatal mistakes. This practical article today can help you avoid 90% of the pitfalls, saving you enough to buy a Tesla!

Error 1: Chasing highs and selling lows, becoming a "bag holder".
In 2021, when Dogecoin surged from $0.01 to $0.7, countless people shouted "get on board," but what happened? The price was halved again and again, and now it is still hovering around $0.2.
The truth: 90% of the surges in the crypto world are traps set by "whales" selling off. When you see a coin rise 50% in a day, remember: this is not an opportunity, it's the reaper swinging the scythe. Professional players have long been lurking at low prices, waiting for you to rush in and take over, while they are already laughing and counting their money as they exit.
How to break it?
Set a "24-hour cooling-off period": add the coin you want to buy to the observation list and decide the next day.
Memorize this phrase: "In a bull market, opportunities are plentiful; what is lacking is capital."
Error 2: Putting all your eggs in one basket by going all in on a coin.
"Bitcoin is too expensive, I will buy this new coin, starting from 10 times!" This is the most dangerous illusion for a Newbie. During the LUNA collapse in 2023, someone bet their entire fortune on it and live-streamed jumping off a building five minutes after getting liquidated.
Data speaks: A Chainalysis report shows that from 2021 to 2024, 80% of "hundredfold coins" will drop to zero within a year, while mainstream coins like Bitcoin and Ethereum have increased by more than 10 times.
How to break it?
"721 Rule": 70% of funds to buy Bitcoin/Ethereum, 20% to buy quality altcoins, and 10% to play with high-risk coins.
Remember: "Surviving to the next bull market is more important than making quick money."
Error 3: Ignoring security, treating private keys lightly
"My coins are placed on the exchange for easy trading," this statement has replayed the $450 million theft incident of Mt. Gox countless times. In 2024, a leading exchange suffered from internal personnel misconduct, resulting in the assets of 30,000 users being wiped out. Compensation? Don't even think about it!
Did you know: 20% of the world's bitcoins are permanently inaccessible due to lost private keys. Your coins truly belong to you only when they are stored in a cold wallet.
How to break it?
"3-Day Withdrawal Rule": Transfer 80% of assets to a cold wallet, set a 3-day withdrawal delay to prevent impulsive actions.
Write the private key down on paper and store it in a safe; never take a photo, screenshot, or send it to others.
Error 4: Leveraged trading, playing with fire.
"20x leverage, turning 10 times with one shot!" This is the most toxic soup in the crypto world. When Bitcoin plummets by 50% in 2024, those using 2x leverage will all be liquidated, losing everything.
How to break it?
"Leverage Ban": Never touch leverage unless you are a professional trader.
Remember: "Slow is fast, steady is winning."
Error 5: Emotional trading, driven by fear and greed
"Down 5%? Quick, cut losses!" "Up 10%? Add to the position!" This is the most common death loop for Newbies. During the 2023 NFT craze, someone sold 30 NFTs at a price of $30 each, only to see them later rise to $3000 each, missing out on $900,000. #CPI数据来袭 $BTC $ETH