Watching the discussions heat up in the trading groups, some people are sharing screenshots of gains, while others quietly post records of liquidations. Having been in the crypto space for years, I can't hold back some words and need to say them.

**Money outside of your cognition, you really can't make**

This is what my mentor taught me early on. Blockchain, simply put, is a distributed ledger. Bitcoin is digital gold, and Ethereum is like a world computer. Spot trading is direct buying and selling, while contract leverage is borrowing money to amplify gains—of course, it also amplifies losses. I've seen too many people who don't even understand Gas fees rush in to buy various coins, only to end up as "chives" (retail investors).

My advice is straightforward: allocate 10% of your intended investment amount and go learn. Read the Bitcoin White Paper, Ethereum official documentation, and spend 20 hours carefully understanding them before taking action. This is not a waste of time; it's insurance for yourself.

**Don't step into the pits I've fallen into**

The first pit is following internet celebrities. Last year, a big influencer promoted a shanzhai coin, which now has dropped 99% in price. They might have taken promotion fees and run, but you paid real money.

The second, more common pit: emotional trading. Seeing a surge in the morning leads to FOMO chasing high, and a crash in the afternoon causes panic selling. The market is very good at creating emotions, but you must control yourself. My personal rule is: any decision must be made calmly and then wait 2 hours before checking the market again.

The third, most heartbreaking pit: betting all your assets. I have a friend who borrowed money to trade crypto and ended up liquidated during a black swan event. Always remember this—only invest with money you can truly afford to lose, or your mindset will collapse.

Trading is essentially a game of probability, not a lottery for overnight riches. Only those who understand this can survive longer.