Recently, I’ve seen many beginners in the community asking how to get started with cryptocurrencies, so I decided to organize my years of experience in hopes of helping everyone avoid some detours.

Honestly, the virtual currency market has indeed created many wealth stories over the past decade. Traditional financial institutions and listed companies are starting to enter the crypto assets space, and market opportunities definitely exist. But for newcomers, the most important thing is not to chase overnight riches, but to first understand the basic rules.

There are several obvious advantages to investing in cryptocurrencies. First, compared to mature markets like stocks and forex, cryptocurrencies are still relatively young, and their high volatility means more opportunities. Second, the entry barrier is low; you can start with just $2-$10, far lower than stocks and forex. Third, there are 24-hour global trading, with no trading halt restrictions, so you can operate anytime.

There are mainly two ways to trade. One is trading directly on exchanges, which are divided into centralized exchanges (requiring real-name verification) and decentralized exchanges (requiring a wallet). The other is contract-for-difference (CFD) trading, which is usually more strictly regulated and offers relatively safer funds security. For beginners, it’s recommended to prioritize platforms with large scale and proper regulation—safety always comes first.

When it comes to choosing coins, my advice is to start with projects with strong fundamentals. Bitcoin, as the largest market cap crypto asset, has become the standard for many institutions. Treat BTC as a “safe haven,” like buying blue-chip stocks, where risks are relatively controllable. Currently, BTC is around $75.54k.

Ethereum is the second-largest by market cap and the most powerful smart contract platform. Unlike emerging public chains that only talk big, Ethereum’s applications are already fully implemented—DeFi, NFTs, on-chain games all have real use cases. Recent technical upgrades have also significantly lowered Gas fees, greatly improving the trading experience. ETH is now around $2.07k.

USDT is the “digital cash” in the crypto world, with a stable price around $1. Newcomers should treat it as a tool coin, used for transferring between assets and temporarily storing funds, not for making profits from price swings.

Binance Coin (BNB) features practical value—holding it can enjoy trading fee discounts and participate in new coin activities. More importantly, it has a periodic token burn mechanism, burning a portion each quarter, which is relatively friendly to long-term holders. BNB is currently around $653.50.

Solana is known for speed and low fees, with single transaction costs usually under $0.01. For small investors, there’s no need to worry about fees eating into the principal. However, SOL’s volatility is quite high, so it’s best to treat it as a “satellite allocation,” assuming you already have BTC or ETH as a foundation. SOL is now about $83.57.

What’s the easiest mistake to make after entering the market? Frequent trading is the first trap. I’ve fallen into this myself—opening and closing positions too often, resulting in fees eating into profits and clouding judgment.

The second mistake is disrespecting the market. No one can predict 100% correctly, and there will always be misjudgments. At such times, you need to admit mistakes, set stop-losses, rather than stubbornly fight the market. I’ve seen too many people get wiped out because they refuse to accept defeat.

The third mistake is not setting stop-loss and take-profit points. Wanting to earn more when profitable, or trying to recover losses when in the red, exposes you to huge risks. Stop-loss and take-profit are like insurance—they help you keep risks within manageable limits.

Be also alert to two types of scams. One is pump-and-dump schemes—coins with no technology or application, completely manipulated by whales, packaged as “metaverse” or “Web3.0,” then start to fleece investors. Whenever you see phrases like “double your money” or “listed equity,” it’s almost certainly a scam.

The other is Ponzi schemes, claiming “blockchain” or “financial innovation,” but actually just using new investors’ money to pay earlier ones. They might give you small gains initially, but once you lower your guard and invest large sums, the platform will say “system maintenance” and prevent withdrawals, then run away. These projects often promise “guaranteed profits” or “fixed high returns,” so be cautious when you see these keywords.

Two simple principles to avoid pitfalls: don’t trust “high returns,” as cryptocurrencies lack national credit backing, are highly volatile, and promising guaranteed returns is a scam. Avoid “unknown platforms,” and choose large, properly regulated exchanges.

Finally, I want to say that making mistakes isn’t scary; what’s scary is repeating the same mistakes. Beginners will inevitably make errors, but the key is to stop and reflect, rather than stubbornly pushing forward. Only then can you gradually accumulate experience and find your own trading rhythm. The essence of crypto education is a continuous process of learning and correction.