Starting a business in 2016, I faced a setback with only 50,000 yuan left in savings. After wandering around trading platforms for a week, I bought 8 Bitcoins at around 6,000 yuan each.

The ups and downs of those two years are still etched in my mind: in 2017, during the bull market, my account peaked at 800,000 yuan, and I couldn’t sleep that night, tossing and turning. But after the crash in 2018, my account was down to just 180,000 yuan, and I realized that “paper gains” mean nothing.
2020 became a crucial turning point. I shifted my funds into mining and DeFi, managing them patiently like planting crops. Over three years, my account steadily grew to 3 million yuan.
Nine years of experience taught me that the key to surviving in the crypto world is risk management. These three ironclad rules saved me:
1. Protect the principal at all costs. I once held onto altcoins out of greed, earning ten times but never taking profits, only to lose it all in the end. Now I set strict rules: take out the principal once profits reach 50%, and only gamble with the profits—no more worries about losing the original investment.
2. Only invest in what you understand. In 2019, during the IEO boom, I watched from the sidelines because I couldn’t grasp the underlying logic. In 2021, I heavily invested in Layer 2 solutions after thoroughly studying the technical whitepapers six months in advance. Whitepapers, team backgrounds, economic models—if I don’t understand one of these, I don’t enter the market.
3. Timing your positions wisely. Over nine years, I’ve never been reckless with my allocations: 60% in Bitcoin and Ethereum as the core holdings, 20% in mainstream public chains, 10% experimenting with new sectors, and 10% in cash for liquidity. I never hold more than 15% of a single coin in my portfolio.