3 important rules for people to enter the crypto market

TL; DR

The cryptocurrency industry can be interesting, but one must enter the ecosystem with caution.
A prominent analyst advised startups to avoid new token startups, focus on projects with large communities, and see how assets handle significant price cuts.

Follow these steps

Over the years, the cryptocurrency sector has been growing as the overall share of investors has gradually increased. Statistical data It shows In the year As of June 2024, the number of people with limited exposure to the asset class has reached 617 million.

Among the reasons that attracted people to the ecosystem were the launch of spot Bitcoin and Ethereum ETFs in the US, the halving of BTC and of course the bull run witnessed in Q1, during which the major cryptocurrency reached an all-time high of over $73,000.

Although it offers an alternative to traditional financial methods, the possibility of diversifying portfolios and the possibility of high profits, investing in crypto comes with certain risks.

Popular X user Crypto Tony listed three important rules. The new ones For the community. First, they should be investors Away “New start” Second, they must study the token have Large communities.

As the most popular and The biggest (In terms of market capitalization) cryptocurrency, BTC has the largest community. It has millions of holders, and its supporters see it as a store of great value, or even “digital gold”.

Other digital assets with strong communities include Ethereum (ETH), Dogecoin (DOGE), Shiba Inu (SHIB), Ripple (XRP), and more.

Third, Crypto Tony warned newbies how to look Certain Tokens will handle large price drops or how they did before.

“I hope small tips It will help in the long run for those who are new to the community,” added the crypto enthusiast.

Another important instruction

It is worth mentioning that the cryptocurrency space is often taken over by scammers who try to fleece inexperienced investors. Traders are advised to stay away from schemes that offer the opportunity to make large fortunes in a short period of time and never disclose their private keys, passwords or other personal information to suspicious individuals.

It is very important to do proper research before jumping on the bandwagon as it can prevent one from incurring huge losses.

last one But at leastPeople should invest No more. Those who are ready to lose. For those willing to learn more tips, please watch the video we've curated below: