The most common mistakes made by newbies in the crypto world.

I've seen too many Newbies lose their entire investment because of these 5 fatal mistakes. Today's article can help you avoid 90% of the pitfalls, and by the end, you'll save enough for a Tesla!

Error 1: Chasing highs and selling lows, becoming a "bag holder"
In 2021, when Dogecoin skyrocketed 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's still hovering around $0.2.
Truth: 90% of the price surges in the crypto world are traps set by "whales offloading". When you see a coin increase by 50% in a day, remember: this is not an opportunity, it's the scythe swinging. Professional players have long ambushed at low prices, and by the time you rush in to take over, they are already laughing and counting their money as they leave.
How to break it?
Set a "24-hour cooling-off period": Add the coin you want to buy to the watchlist first, then decide the next day.
Memorize this sentence: "In a bull market, opportunities are abundant; what is lacking is capital."
Error 2: Going all in on one coin, putting all your eggs in one basket.
"Bitcoin is too expensive, I'll buy this new coin, starting at 10 times!" This is the most dangerous illusion for a Newbie. During the LUNA crash in 2023, someone put all their savings in, and after a 5-minute liquidation, they live-streamed their jump from a building.
Data speaks: The Chainalysis report shows that from 2021 to 2024, 80% of "hundredfold coins" will go 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 kept on the exchange for convenient trading," this statement has replayed the $450 million theft incident of Mt. Gox countless times. In 2024, a leading exchange faced an incident due to internal personnel misconduct, resulting in 30,000 users' assets going to zero. Compensation? Don't even think about it!
Fun fact: 20% of Bitcoin globally is 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 on paper and store it in a safe; you must never take a photo, screenshot, or send it to others.
Error 4: Leverage trading, playing with fire.
"20x leverage, a 10x return!", this is the most toxic soup in the crypto world. When Bitcoin plummets by 50% in 2024, everyone using 2x leverage will be liquidated, losing everything.
What to do?
"Leverage ban": Never touch leverage unless you are a professional trader.
Remember: "Slow is fast, steady is winning."
Error 5: Emotional trading, dominated by fear and greed
"Down 5%? Quickly 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 directly. #CPI数据来袭 $BTC $ETH