In this cryptocurrency circle, if you want to survive longer, let me give you some hard truths, each word is a lesson learned through blood and tears, you must keep it in mind:
1. Wallet password and mnemonic phrase are more trustworthy than your own father!
The core point is: "Whoever controls your private key is your true ancestor in cryptocurrency!" Don't be foolish and put all your assets on exchanges (like Binance, etc.), if they run away or get hacked, you won't even know how to cry! You must use your own wallets (like hardware wallets such as Ledger or mobile wallets like TP, IM, etc.).
The mnemonic phrase (that string of English words) is the lifeline of your assets! Write it down with a pen on paper, hiding it under your pillow is fine, but just don't take screenshots! Don't send it via WeChat! Don't store it on cloud drives! If someone asks for this string of words, they are either your son or a scammer, just block them!
2. Don’t believe in the myth of getting rich quickly, use only the money you can afford to lose! Never think about selling your house, borrowing money, or using your credit card to trade coins, that’s a death wish! “Only use that little bit of money you have lying around to play,” even if you lose it all, just consider it like losing at mahjong, it won’t affect your ability to eat and sleep.
Those big influencers in the group who show screenshots and casually shout “all in” and “hundred times coins,” just consider them as talking nonsense. They may have already bought in and are just waiting for you to rush in to lift them up, so they can run away. “Remember, what falls from the sky is not a pie, but a sickle!”
3. Be more aware, don’t be a follower!
Before buying any coin, “spend ten minutes to Baidu it” to find out what it is, what it does, and whether the team is real people. Don’t listen to others saying “it’s going to pump” or “it’s about to go on Huobi,” and rush in blindly; the probability is high that you will just be a bag holder.
When you see any good or bad news, first think: “Who said it? Why say it now? What do they want me to do?” (**FUD** is to scare you into selling, **FOMO** is to trick you into buying).
4. Control your hands! Don’t touch contract leverage!
*I beg you, “newbies, don’t touch contracts!” That thing is for you to experience the thrill of going to zero overnight. Market fluctuations are large; if a spike happens, you can lose everything. Trading spot is at most being stuck, but trading contracts is like being on a grave.
5. Don't let your mindset collapse, don't be greedy or afraid!
When it rises, don’t show off, thinking you are a stock god; when it falls, don’t panic to the point of not being able to eat. “Think in advance: how much do I sell when I make a profit? How much do I cut my losses?” Then just execute. Don’t always think about buying at the lowest and selling at the highest, that's not something humans do, it's what gods do.
In short, just one sentence:
“There are plenty of opportunities in the coin circle, first ensure you don’t die, so you can wait to eat meat.” Money doesn’t come in a hurry; stay steady, we can win!
I am Sister Wei, nice to meet everyone. Sister Wei focuses on Ethereum contract spot ambush, the team still has spots, get on board quickly, let me help you become the market maker and also a winner.#BNBChainM $ETH