#我的Gate交易时刻 Newbie investors in cryptocurrency need to do these things

What kind of market is cryptocurrency?
Unlike stock, foreign exchange, bonds, funds, and other financial markets, cryptocurrencies (Cryptocurrencies) are relatively new, making it a very typical high-risk, high-reward market. High returns are relatively simple and easy to understand, with many opportunities such as airdrops, mining, trading, ICOs, IEOs, token issuance, etc., and the profits from individual opportunities can be quite substantial, especially during the early stages of new concepts and new gameplay. Among them, a typical example is the prevalence of ICOs in 2017, with many coins multiplying hundredfold, such as the famous Ethereum (ETH) and BNB. However, the risks of cryptocurrencies are also very high, reflected in various aspects such as regulatory crackdowns, phishing websites, the lack of daily price limit mechanisms, whale manipulation, exchange outages, project teams running away with funds, and so on.
Facing such a complex financial market, if you still have the courage to challenge it, it shows you are more open to new things and have a strong risk tolerance. But that’s not enough; you also need to accomplish three things.
(1) Selection. The ways to play in the crypto world are diverse. You need to try all of them, analyze their pros and cons and yields, and then choose the one or two that suit you best based on your own situation. In theory, you could choose all, but human energy, time, and funds are limited, making it impractical; plus, spreading yourself too thin can impair your judgment and cause you to miss opportunities.
(2) Persistence. Most people entering the cryptocurrency market are looking for quick money and are very impatient, which makes persistence extremely valuable. You must understand that although there are many opportunities in this market, it doesn’t mean everyone can make money or that profits can be achieved immediately.
(3) Learning. ICOs, IDOs, IEOs, decentralized finance (DeFi), Metaverse, GameFi, X to Earn, NFTs, PFP, NFTFi, Web3, and even traditional finance (Tradfi) now listed on exchanges—these are all exclusive to the crypto world and are constantly evolving. “As long as you don’t learn for a day, you feel like you’re falling behind; if you don’t learn for a month, you feel disconnected from this circle,” this is the true picture of the crypto world. Generally speaking, opportunities often hide in new things because old ones become outdated, and the cost-effectiveness of funds not involved is low. Therefore, to seize new opportunities, you must learn and understand quickly; otherwise, you will always be a latecomer who only reacts after the fact.