Hi! I've been making money on cryptocurrency for the last 5+ years. I don't sell courses and I don't promise "a million in a week". I'm just sharing my experience so you don't make the same stupid mistakes I did at the beginning of my journey.
The cryptocurrency market is a digital ecosystem where people buy, sell and exchange tokens (coins) on special platforms - exchanges.
🔹 Blockchain is a database that stores all transactions. It is decentralized, that is, it is not controlled by banks or governments. 🔹 Cryptocurrencies are digital assets (Bitcoin, Ethereum, etc.) that can be purchased for fiat money (dollars, rubles) or other cryptocurrencies. 🔹 Exchanges are platforms where cryptocurrencies are traded (Binance, Bybit, OKX, etc.). 🔹 Wallets are places to store cryptocurrencies (Trust Wallet, MetaMask, Ledger).
Cryptocurrency rates depend on supply and demand, news, regulation, and major players ("whales").
📌 Investing is a long-term investment of money (from several months to years). Example: bought Bitcoin and are waiting for growth. 📌 Trading is short-term transactions (minutes, hours, days). Example: bought Ethereum before an important update and sold it a week later.
What should a beginner choose? ✅ Investing — less stress, easier to analyze. ❌ Trading — requires experience, high risks.
It is better for beginners to start with "blue chips" — proven cryptocurrencies with high capitalization:
🔸 Bitcoin (BTC) — the first and most reliable cryptocurrency. 🔸 Ethereum (ETH) — a platform for smart contracts and DeFi. 🔸 Binance Coin (BNB) — the token of the largest exchange Binance. 🔸 Solana (SOL), Cardano (ADA), XRP — altcoins with a strong team.
❌ Avoid:
Memcoins (Dogecoin, Shiba Inu) — high risks.
Little-known tokens with "guaranteed returns" are a scam.
Selection criteria: ✔ Reputation (Binance, Bybit, OKX, Kraken are top ones). ✔ Trading volume (the higher, the better the liquidity). ✔ Commissions (Binance — 0.1% per transaction). ✔ Fiat support (rubles, dollars).
Examples of exchanges:
Binance is the most popular, but has problems with regulation.
Bybit — user-friendly interface, low commissions.
OKX is a good choice for DeFi.
Kraken is reliable, but more difficult for beginners.
⚠ Important: Don't keep all your money on the exchange! Withdraw to your wallet.
❌ FOMO (Fear Of Missing Out) — buying at the peak due to the fear of missing out on profit. ❌ Trading without a plan — without stop losses and targets. ❌ Storage on the exchange — if the exchange is hacked, you will lose money. ❌ Investing in "hype" projects — 90% of new tokens are a scam. ❌ Using credit funds — you can lose everything.
🔐 2FA (two-factor authentication) — a must! 🔐 Cold wallet — for long-term investments. 🔐 Check contracts - before buying a token, check it on CoinMarketCap. 🔐 Don't give your seed phrase to anyone - it's like a bank password.
My blog
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