Entering the Crypto Assets investment in 2024: Just a few steps from newbie to enter a position.

Have you heard your fren brag about the big pump of Bitcoin? Now you finally want to give it a try yourself. Don't rush, this article will clarify the entire process of investing in encryption for you.

First, let's understand what encryption currency actually is.

Simply put, cryptocurrency is a virtual currency protected by encryption, backed by a technology called blockchain. Unlike traditional finance that requires bank intermediaries, it is decentralized – maintaining accounts spread across countless computers, making it difficult to tamper with. The advantages are fast transfers and low fees, while the disadvantages are high volatility, high risk, and susceptibility to scams.

Actual Operation: 6 Steps to Enter

Step 1: Choose the right coin There are so many projects that it's dazzling, how to choose? The key is to look at three points:

• Is the underlying technology solid (does the public chain have scalability?)
• Is the team reliable (what is the industry reputation)
• Are there real application scenarios (not air coins)

Check the market capitalization, trading volume, and whether it is listed on mainstream exchanges; these can all reflect market recognition.

Step 2: Choose an Exchange Don't make random selections, the point is:

• Good security record (check if it has ever been hacked)
• Reasonable fees (compare prices)
• Support 2FA two-factor authentication
• User-friendly UI, no dizziness when operating.

Step 3: Properly Safeguard Assets Where to put the coins you bought? Two types of wallets:

• Hot Wallet: Online wallet, convenient for transactions but high risk (easily hacked)
• Cold Wallet: Hardware wallet, offline storage, secure but not convenient

If you have a large position, a cold wallet is strongly recommended. The password should be complex and unique, and it's best to enable multi-factor authentication.

Step 4: Develop Investment Strategy This is the key to determining the winner. To achieve it:

• Set clear goals (How much do you want to earn? How long do you want to invest?)
• Do not ALL IN on one coin, diversify your holdings (BTC/ETH with new coins)
• Regularly study market trends and make rational decisions.
• Decide on the amount to invest in advance, and don't be swayed by emotions.
• Adjust strategies based on market changes

Step 5: First Move The process is very simple: choose an exchange → register + real-name authentication → 2FA protection → bind bank card → deposit → place an order → withdraw to wallet.

Step 6: Continuous Monitoring Install an investment portfolio tracking app, set price alerts, and review regularly. Read more industry news; market sentiment changes quickly.

Several methods, each with risks and rewards

Directly buy coin: The most straightforward, with full profits and full risks.

ETF/Fund: Access encryption through traditional accounts, with relatively controllable risks.

Futures: A leverage tool that can earn quick money but can also lose it quickly.

Mining/Staking: Passive income, but requires technical knowledge

Build a good mindset: risk vs opportunity

The encryption market operates 24/7, and a piece of news can cause a price rollercoaster. Regulatory uncertainty and the risk of hacking also exist. However, it is precisely because of this volatility that there are opportunities for big pump profits.

Risk control strategies: diversification of investments, setting stop-losses, continuous learning.

Long-term HODL vs Short-term Trading

• Long-term Party: Believe in the future of technology, buy and hold without caring about short-term fluctuations.
• Short-term traders: chasing fluctuations, quick in and out to make a profit

Which one to choose depends on your personality and goals.

You must consider these points before entering

1. How much loss can you bear? (Invest spare money, not life savings)
2. What is a reasonable initial capital? (Start small to try your hand)
3. Pay attention to regulatory trends (legal risks are real)
4. Learn Safety Knowledge (Preventing Hacks and Scams is the First Lesson)

Encryption Investment vs Traditional Investment, What's the Difference

New Trends in 2024

DeFi continues to thrive: Removing intermediaries, directly lending and trading on the chain, high returns but also high risks.

NFT is still here: Confirmation of digital asset ownership, new ways to play with art pieces/game items

Mining is more environmentally friendly: PoS replaces PoW, significantly reducing energy consumption.

Regulations becoming clearer: The good news is that the market will be more stable, while the bad news is that certain projects may be halted.

Institutional Entry: The big players have arrived, indicating that this matter is becoming more legitimate.

Traditional + encryption fusion: Bitcoin futures and crypto ETFs are becoming more prevalent, making it easier for ordinary people to participate.

Last Words

Encryption investment is not gambling; it relies on research + patience. Don't blindly follow the trend; understand the rules before entering the market. Be conservative when necessary and aggressive when the time is right. As long as the strategy is reasonable and the financial goals are clear, you can thrive in this market.