I happened to see someone asking about getting started in the crypto world, so I might as well organize my insights for beginners who want to enter the market.

First, you need to understand three basic concepts, or you'll easily get cut. Blockchain, simply put, is a publicly accessible ledger worldwide; all transactions are transparent and verifiable. Once recorded, they can't be changed, which is the foundation of cryptocurrency security. Both Bitcoin and Ethereum rely on it to operate. One is called "Digital Gold," with strong anti-inflation capabilities and relatively low long-term holding risk; the other is not just a coin but also supports the entire DeFi and NFT ecosystems, with greater volatility and potential.

Before entering, you also need to understand some jargon. Gas fee is the transaction fee on the chain; during peak times, it can be ridiculously high, so always check real-time rates. DeFi is decentralized finance, NFT is a digital asset certificate. Beginners are advised to start with exchange staking and financial products, rather than jumping straight into complex strategies.

Choosing the right platform is like avoiding half the pitfalls. I recommend beginners prioritize large, transparent, and secure exchanges with solid reserves. These platforms support multiple deposit methods, have comprehensive tutorials, and full features, whether for buying coins or advanced trading. Never touch small, unlicensed platforms—90% of scams and coin thefts happen there.

When actually buying coins, my advice is to follow four steps. First, buy USDT with Alipay or bank card (pegged 1:1 with USD, acting as cash in the crypto world), which is more flexible than directly buying Bitcoin or Ethereum. Then, allocate according to the "721 rule": 70% in Bitcoin and Ethereum as risk buffers, 20% in platform tokens to grow with the exchange, and 10% in potential coins for small experiments. Use market orders directly when placing trades—avoid limit orders, as beginners often enter wrong prices, causing slippage. The first investment should not exceed 5% of your liquid assets; get a feel for market fluctuations before gradually increasing your position.

Asset security cannot be taken lightly. For short-term trading, exchange wallets are convenient, but don’t store large amounts of assets long-term there. For long-term holding, use a combination of hot and cold wallets: small amounts in MetaMask or Trust Wallet, and large amounts (over 50k) must be stored in hardware wallets like Ledger or Trezor, which are physically offline and most secure. The most critical point is never store private keys on your phone; writing them down on paper and hiding them securely is the best practice.

Risk management is the only principle for beginners to survive. Always keep a cash position (USDT) so you can buy the dip during crashes and avoid being fully invested and trapped. Dollar-cost averaging is a magic tool for newbies to resist volatility—buy Bitcoin and Ethereum on a fixed day each month, regardless of price movements, to average out costs over time. When profits reach over 30%, sell in parts; if you lose 15%, cut losses decisively—don’t hope for rebounds. Newbies who hold on often get liquidated. You can use exchange conditional orders to automate buying and selling without watching the market.

Finally, I must emphasize some things you absolutely must avoid. Newbies playing with high-leverage contracts will lose everything within a month 95% of the time; 100x leverage coins are 99% scams; private transfers to buy coins are even more scams. The most important thing in getting started in crypto is mindset—slow is fast. Spend a month understanding the basics, then try small mistakes before going all-in for a 100x payout. Remember, making big money in crypto starts with learning how not to lose a lot.