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50 Essential Knowledge Points for Beginners in the Cryptocurrency World

#人民币购买USDT#币安提现教程#Bybit对比币安#Bybit买BTC步骤#欧易怎么转账63
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The document outlines 50 essential knowledge points for newcomers to the cryptocurrency space, emphasizing the importance of understanding the fundamentals before attempting to make profits. Key areas covered include: 1. **Basic Concepts**: Definitions of blockchain, public/private/consortium chains, the difference between coins and tokens, decentralized finance (DeFi), and non-fungible tokens (NFTs). 2. **Trading Techniques**: Understanding spot vs. contract trading, basics of candlestick charts, support and resistance levels, volume analysis, and the importance of setting stop-loss and take-profit orders. 3. **Risk Management**: The critical nature of private keys, withdrawal verification, caution against low-quality tokens, avoiding misleading "mentors," and the risks of leverage. 4. **Ecosystem Awareness**: The roles of Bitcoin and Ethereum, Layer 2 solutions, cross-chain bridges, and the characteristics of stablecoins. 5. **Project Analysis**: How to review whitepapers, evaluate tokenomics, analyze on-chain data, assess community engagement, and compare competitors. 6. **Tools**: Recommendations for exchanges, wallet management, market tracking software, blockchain explorers, and news platforms. 7. **Mindset**: Strategies to avoid FOMO and FUD, the importance of not going all-in, maintaining a long-term perspective, and the need for regular breaks. 8. **Advanced Topics**: Insights into staking, liquidity mining, NFT strategies, GameFi, and DAO operations. 9. **Terminology**: Definitions of common crypto jargon such as "all-in," "airdrop," "rug pull," and "whales." 10. **Historical Events**: Significant market events that impacted the cryptocurrency landscape. The document concludes by encouraging readers to utilize the outlined tools and knowledge to navigate the cryptocurrency market effectively, emphasizing that success comes from understanding rather than speculation.

50 Essential Knowledge Points for Beginners in the Crypto World: Learn to Avoid Losses First, Then Consider Making Money!#

The crypto world is not a casino, but a battlefield!

Some become rich overnight, while others lose everything; the key lies in some entering rationally while others are blindly greedy.

Many rush into the crypto world out of a desire to get rich quickly, yet know nothing about the basic concepts, cannot understand on-chain data, cannot analyze candlestick charts, and even do not understand the operating mechanisms of market makers, making them easy targets for project teams.

Today, Old Zhao summarizes 50 essential entry knowledge points for beginners, focusing on learning to avoid losses before pursuing profits. Once the principal is lost, the crypto world will no longer concern you.

【Basic Concepts】

  1. What is blockchain: A decentralized ledger where transaction records are publicly available across the network, and altering data requires controlling 51% of the nodes in the network.

  2. Public chain / private chain / consortium chain: Public chains (like BTC, ETH) are open for use, private chains (like those within a company) require permissions, and consortium chains (like Ripple) are co-built by multiple institutions.

  3. Difference between Token and Coin: Coin is "currency" (like BTC), Token is "points" (like UNISWAP's UNI), avoid being misled by project teams.

  4. What is DeFi: Decentralized finance that replaces banks with smart contracts, supporting lending and wealth management, but code vulnerabilities may lead to financial losses.

  5. The essence of NFT: Proof of digital ownership, not just ordinary images; beware of "air NFTs" and assess their liquidity before purchasing.

【Trading Skills】

  1. Spot vs. Futures: Spot is directly purchasing assets, while futures involve leveraged price speculation; beginners are advised to start with spot trading.

  2. Basics of candlestick charts: Bullish candles (upward), bearish candles (downward), moving averages (average cost line); avoid being misled by colors in judgment.

  3. Support and resistance levels: The price rebound point is called support, while the drop point is called resistance, reflecting market psychological games.

  4. Volume analysis: A surge in volume may indicate a pullback, while a decrease in volume may indicate a rebound; comprehensive judgment should consider trends.

  5. Stop-loss and take-profit: Exit promptly upon reaching target profits, set stop-loss lines (like 10%) to control risks; opportunities in the crypto world are never lacking.

【Risk Control】

  1. Importance of private keys: Equivalent to the lifeline of assets; losing them means permanent loss; avoid storing them in cloud drives or screenshots; hardware wallets are recommended.

  2. Withdrawal verification: Withdraw from exchanges to wallets, first test with a small amount (like 0.0001), and confirm receipt before transferring larger amounts.

  3. Beware of "meme coins": Tokens with names containing "Dog," "Shib," or "Floki" are 99% likely to be air projects; avoid becoming a victim.

  4. Stay away from "mentors": Those claiming to help you "buy the dip" or "sell the top" are often scams; there are no absolute "stock gods" in the crypto world.

  5. Leverage risks: With 10x leverage, a 10% drop leads to liquidation; never bet your entire fortune.

【Ecosystem Awareness】

  1. Bitcoin's positioning: As "digital gold," with a total supply of 21 million coins, it has anti-inflation properties and serves as a benchmark in the crypto world.

  2. Role of Ethereum: As an "operating system," it supports DeFi, NFTs, and gaming ecosystems, but has high gas fees and limited concurrency.

  3. Layer 2 solutions: High-speed "highways" to alleviate Ethereum congestion, such as Arbitrum and Optimism, with low transaction fees and fast speeds.

  4. Cross-chain bridge functions: Enable asset transfers across chains (like Ethereum to BNB Chain); prioritize trusted platforms to prevent hacking.

  5. Characteristics of stablecoins: Such as USDT, USDC, DAI, pegged 1:1 to the US dollar, but be aware of the risks of excessive issuance of USDT.

【Project Analysis】

  1. White paper review: Focus on project goals, profit models, and team backgrounds; prioritize reading the original English version over Chinese translations.

  2. Token economic model: Assess total supply, distribution mechanisms, and lock-up rules; avoid tokens with unlimited issuance.

  3. On-chain data indicators: Analyze "number of holding addresses," "trading volume," and "large transfers"; data may be manipulated but still holds reference value.

  4. Community activity: Observe Twitter followers and the quality of discussions in Telegram groups; beware of false "pump" behaviors.

  5. Competitor comparison: For example, compare the safety of Aave and Compound in the lending field, and evaluate the performance of Solana and Avalanche in the public chain field.

【Tools】

  1. Exchange selection: Binance, OKEx, Coinbase, etc.; beginners should start with spot trading and avoid futures and leverage.

  2. Wallet management: MetaMask, TP Wallet, etc.; self-custody of private keys, do not store them on exchanges.

  3. Market software: CoinGecko, CoinMarketCap, used to view rankings, market capitalization, and trading volume.

  4. On-chain explorers: Etherscan, BscScan, to check transaction records and holding addresses.

  5. Information platforms: CoinDesk, The Block, focusing on in-depth analysis rather than clickbait content.

【Mindset】

  1. Avoid FOMO (fear of missing out): Do not blindly chase prices when they rise; beware of pump traps.

  2. Resist FUD (fear, uncertainty, doubt): Do not hastily sell off during negative news; it may be a washout strategy.

  3. No All-in: Invest only spare money; avoid borrowing or selling property to trade crypto.

  4. Long-term perspective: Bitcoin has shown significant growth over ten years, but most people miss out on profits due to frequent trading.

  5. Take breaks: Do not be greedy in bull markets or panic in bear markets; the crypto world trades 24/7 and requires reasonable mental and physical adjustments.

【Advanced】

  1. Staking mining: Deposit tokens into DeFi platforms to earn interest; be aware of the risk of "impermanent loss."

  2. Liquidity mining: Provide liquidity to trading pools to earn transaction fees; beware of high-yield Ponzi schemes.

  3. NFT strategy: Prioritize blue-chip projects (like BAYC, CryptoPunks) and avoid low-value NFTs.

  4. GameFi participation: Combine gaming with profit; assess economic models to prevent Ponzi schemes.

  5. DAO operations: Decentralized autonomous organizations make decisions through token voting; avoid manipulation risks in small DAOs.

【Crypto Jargon】

  1. "All-in": Betting everything, considered high-risk gambling behavior.

  2. "Airdrop": Free distribution of tokens; beware of scams that require upfront payments.

  3. "Rug pull": When project teams run away, causing the token price to drop to zero.

  4. "Whale": Addresses with large holdings; their movements influence the market.

  5. "Wash trading": Major players intentionally suppress prices to drive out retail investors.

【History】

  1. The 312 Crash: On March 12, 2020, BTC dropped 50% in a single day, triggering massive liquidations.

  2. The 519 Incident: On May 19, 2021, the crypto market collectively crashed, halving the locked value in DeFi.

  3. Luna Collapse: In 2022, the algorithmic stablecoin Luna went to zero, evaporating $40 billion.

  4. FTX Crisis: In 2022, the world's second-largest exchange went bankrupt, and its founder was arrested.

  5. Bitcoin Halving: The production halved every four years; history shows a drop before halving and a rise afterward, but dynamic analysis is necessary.

"These 50 knowledge points are derived from practical experience in the crypto world; saving this article can help you avoid three years of detours!

One more word: The crypto world is not a money-printing machine, but a field of cognitive transformation; every profit comes from understanding the world.

Master the basic crypto tools to get started!#

With numerous tokens in the crypto world, clear choices and purchasing strategies are necessary.

Trading solely based on intuition is not sustainable.

This article recommends commonly used trading tools to help you get started efficiently.

Note: Some websites are not convenient to link; please search on Google.

1. SpotOnChain#

Crypto trading is not limited to exchanges; some tokens need to be obtained on-chain, and whales often transfer assets on-chain.

On-chain analysis tools can provide more comprehensive investment information.

This platform features on-chain reporting, address relationship visualization, and monitoring alerts.

Users can track institutional addresses, smart money addresses, and influencer addresses.

The database marks hundreds of influential entities, such as investment funds and CEX.

You can check transaction details of large funds like venture capital firms.

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2. Arkm#

Arkm is also an on-chain analysis tool, with features more favored than SpotOnChain.

It supports alerts, tracking, and address trading information queries.

However, it currently does not support Solana chain data.

3. Crypto Deal Flow#

Project financing amounts often reflect institutional optimism, indicating potential for price increases.

Before purchasing tokens, you can check their financing history; this website is suitable for English users.

Chinese users are recommended to use Rootdata, but be aware that its user-editing mechanism may lead to information discrepancies; please verify independently.

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(4) Token Unlocks

Focuses on token unlock data, covering most mainstream tokens.

Free users can only view data from the last 7 days; long-term monitoring requires membership.

Chinese media often summarize monthly unlock information at the beginning of the month for supplementary reference.

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(5) Coinmarketcap

The core function is token price queries, including data on mainstream coins such as price, circulation, and FDV.

Tokens are categorized by sector for easier targeted searches.

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(5) Dex Screener

Also provides token prices and candlestick analysis, focusing on low-market-cap meme coins.

It is an essential tool for trading meme coins.

(6) Defillama

A Web3 data platform covering DeFi, stablecoins, and NFTs.

Both retail and institutional investors rely on its on-chain data (like TVL) to assist in investment decisions.

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Have you ever thought about who is harvesting time?

QuestMobile data shows that young people spend an average of 2.8 hours per day on short videos (accumulating 1022 hours a year), 456 hours a year scrolling through social media during commutes, and 300 hours a year shopping during lunch breaks.

Time killers are essentially unconscious self-consumption!

These fragmented times are enough for a novice to transform into a professional trader in three years, such as the case shared last year of a student earning 100,000 a month.

Second, choice is greater than effort.

Comparing worker Zhang San: spends 1 hour on Douyin, 40 minutes reading novels, and plays 3 games every night; with awakened Li Si: reviews candlestick charts for 1 hour, listens to trading courses for 40 minutes, and writes logs.

Two years later, Zhang San's level has improved but his weight has increased to 180 pounds, possibly losing 60,000 due to margin calls; while Li Si has established a stable trading system, with side income surpassing his main job.

Student Liang Liang (pseudonym) utilized commute time for reviews and tested models during lunch breaks, achieving 137% profit from gold wave segments in 2024!

If you desire to profit in the market within a year, I will share personal growth paths and methods verified through special training camps.

Third, Stage 1: Understanding the Market

This stage requires one month to master three elements:

Element 1: Candlesticks.

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(Figure 1: "Basic Section" Assignment No. 3 - Candlestick Basics Assessment)

Understanding candlesticks is essential for chart reading, not just opening and closing prices, but also interpreting their line fluctuations.

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(Figure 2: "Naked Candlestick Section" Assignment No. 2 - Price Action Basics)

Differentiate candlestick types: bullish trend candlesticks (breakout continuation), bearish trend candlesticks (downward dominance), non-trending candlesticks (bull-bear stalemate). The latter often leads to losses due to impulsive entries.

Element 2: 12 Golden Candlesticks and Signal Candlesticks, Entry Candlesticks.

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(Figure 3: Horizontal 12 Golden Candlestick Wallpaper)

12 Golden Candlesticks: A summary of 12 profitable candlestick combinations, available for free in high definition (as shown in Figure 3).

Signal Candlesticks: Indicate entry timing, such as the turning candlestick in the 12 Golden Candlesticks.

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(Figure 4: Bullish Trend Candlestick & Bearish Trend Candlestick & Effective Entry Candlestick)

Entry Candlestick: The candlestick for placing orders; signal candlesticks prepare, while entry candlesticks act (as shown in Figure 4).

Element 3: Basic Candlestick Patterns and Structures.

Besides indicators, the core of the market is candlesticks; before entering, clarify:

  • Market trend direction (upward/downward/late/early)
  • Follow trend segments and intervention strategies
  • Reversal opportunities and ambush positions

Single-point skills are insufficient; market structure and pattern knowledge must be applied.

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(Figure 5: Special Training Camp Deliberate Practice: All Price Action Patterns)

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(Figure 6: Special Training Camp Deliberate Practice: All Price Action Patterns)

For example, in price action, quickly identify components like bull flags, bear flags, complex pullbacks (as shown in Figures 5 and 6), and locate their trend segments and measurement logic.

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(Figure 7: Special Training Camp Deliberate Practice: Types of Trends in Chan Theory)

In Chan theory, identify central points, trend types, etc. (as shown in Figure 7), and judge trend distances and termination methods.

Like building a house, first master single-point skills (like cement, blueprints), then integrate them into a system.

At this point, Stage 1 "Understanding the Market" is complete, moving into Stage 2 "Deliberate Practice."

Fourth, Stage 2: Deliberate Practice

Transform knowledge into skills, avoiding mere theoretical discussions.

Step 1: Chart Reading

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(Figure 8: Special Training Camp Deliberate Practice: Reading Charts with Chan Theory & Trend Types)

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(Figure 9: Special Training Camp Deliberate Practice: Reading Charts with Price Action)

Chart reading is market analysis, requiring answers to:

  • Current market state (trend direction, phase)
  • Follow trend segments and intervention strategies
  • Reversal opportunities and ambush positions

Link the three elements from Stage 1 to draw conclusions (as shown in Figures 8 and 9).

Step 2: Identify All Trading Opportunities

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(Figure 10: Special Training Camp Deliberate Practice: Identify All Opportunities)

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(Figure 11: Special Training Camp Deliberate Practice: Identify All Opportunities)

Based on market analysis, label all entry opportunities in a retrospective manner (as shown in Figures 10 and 11), for example:

  • Shorting at the top of an upward wedge in the early stages of a downward trend
  • Shorting in a FB structure during a non-terminal downward trend
  • Going long at the bottom of a trading range in the early stages of an upward trend

Step 3: Determine Preferred Trading Types

After practicing 50-200 charts, naturally summarize preferences, such as:

  • "Prefer xxx pattern reversals"
  • "Higher win rates when entering at high 2"

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(Figure 12: Special Training Camp Deliberate Practice: Write Your Trading System & Basic Win Rate)

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(Figure 13: Special Training Camp Deliberate Practice: Write Your Trading System & Basic Win Rate)

Summarize patterns to form a preliminary trading system and generate basic data (as shown in Figures 12 and 13). The system may be simple, but it is derived from practical retrospectives.

Fifth, Stage 3: Live Testing

Once the system's win rate meets standards, move into live trading:

  • Invest 100 yuan, focusing on familiarizing with varieties and cycles.
  • Goal 1: Deliberately incur losses to overcome fear.
  • Goal 2: Compare live trading data with retrospective data to assess fidelity.
  • Requirements: Only trade opportunities within the system, limit two stop losses for the same logic.
  • Result Analysis: Common reasons for data deviations include:
    • Emotional interference (getting high, revenge trading)
    • Violating discipline (trading outside the system)
    • Adding unverified techniques
    • Misusing unfamiliar varieties
  • Iteration: Technical issues need to return to Stage 2 to optimize the system and verify in cycles.

If the data is highly close (rare), then talent is evident.

At this point, I have shared the complete growth path and verification methods. Those with sufficient budget can seek professional coaching and community support; or practice independently, with the potential to earn 100,000 a month within a year, regaining control over time.

The best time to plant a tree was ten years ago or tonight. Some use tea time to verify non-farm fluctuations, while others calculate Bitcoin ETF arbitrage—this is a competition for the pricing power of time.

In 2025, with candlesticks as the pen and volatility as the ink, write the freedom of wealth beyond 8 hours.

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Related Reading#

The Latest Ranking of China's Top Ten Virtual Currency Trading Platforms for 2025 is Out 🔥【Worth Collecting】

【Real Stories of Getting Rich in Crypto】Many people ask me how I went from 0 to 11 million and then to a debt of 100,000 after years of trading crypto?

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