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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62
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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 profit. Key topics include: 1. **Basic Concepts**: Definitions of blockchain, public vs. private vs. consortium chains, the difference between tokens and coins, decentralized finance (DeFi), and the essence of NFTs. 2. **Trading Skills**: 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, the need for small withdrawal tests from exchanges, caution against low-quality tokens, avoiding self-proclaimed "mentors," and the risks associated with leverage. 4. **Ecosystem Awareness**: The role of Bitcoin as "digital gold," Ethereum as an operating system, Layer 2 solutions, cross-chain bridges, and the characteristics of stablecoins. 5. **Project Analysis**: Importance of reviewing white papers, tokenomics, on-chain data, community engagement, and competitive analysis. 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 managing emotional responses in trading. 8. **Advanced Topics**: Staking, liquidity mining, NFT strategies, GameFi, and DAO operations. 9. **Crypto Terminology**: Definitions of common terms like "all-in," "airdrop," "rug pull," and "whales." 10. **Historical Events**: Significant market events that shaped the crypto landscape. The document concludes by encouraging readers to utilize the knowledge and tools provided to navigate the cryptocurrency market effectively, emphasizing that success requires understanding rather than mere 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 operational mechanisms of market makers, making them easy targets for projects looking for exit liquidity.

Today, Lao Zhao summarizes 50 essential knowledge points for beginners, focusing first on avoiding losses before pursuing profits. Once your capital 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.

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

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

  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 purchase.

【Trading Skills】

  1. Spot vs. Futures: Spot is direct asset purchase, 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.

  3. Support and resistance levels: Price rebound points are called support, while retracement points are called resistance, reflecting market psychological battles.

  4. Volume analysis: Increased volume during price rises may indicate a correction, while decreased volume during price drops 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 Prevention】

  1. Importance of private keys: Equivalent to the lifeline of assets; losing them means permanent loss; avoid storing them on 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 scams; 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 can lead 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" that 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 USDT over-issuance.

【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," "transaction 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 security of Aave and Compound in the lending space, and evaluate the performance of Solana and Avalanche in the public chain space.

【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 is essential; do not store them on exchanges.

  3. Market software: CoinGecko, CoinMarketCap, used to check rankings, market caps, and trading volumes.

  4. On-chain explorers: Etherscan, BscScan, for querying transaction records and holding addresses.

  5. News 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 rush to sell 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, so manage your physical and mental health.

【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 earnings; assess economic models to prevent Ponzi schemes.

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

【Terminology】

  1. "All in": Betting the entire portfolio, considered high-risk gambling behavior.

  2. "Airdrop": Free distribution of tokens; beware of scams that require pre-payment.

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

  4. "Whale": Addresses holding large amounts of tokens; their movements can 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, leading to 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 needed.

"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 thing: The crypto world is not a money-printing machine but a cognitive battlefield; every profit comes from understanding the world.

Master the basic crypto tools to get started!#

There are many tokens in the crypto world, so you need to clarify your selection and purchasing strategy.

Trading solely based on intuition is not sustainable.

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

Note: Some websites may not have links attached; please search for them 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 query 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 site is suitable for English users.

For Chinese users, Rootdata is recommended, 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 unlocking data, covering most mainstream tokens.

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

Chinese media often summarizes unlocking information at the beginning of each month for supplementary reference.

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(5) Coinmarketcap

The core function is to query token prices, 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 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 about 2.8 hours per day on short videos (accumulating 1022 hours a year), 456 hours a year on social media during commutes, and 300 hours a year shopping during lunch breaks.

Time killers are actually 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 each night; with awakened Li Si: spends 1 hour reviewing candlestick charts, 40 minutes listening to trading courses, and writes a journal.

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; 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 in the gold wave in 2024!

If you desire to profit from the market within a year, I will share personal growth paths and methods validated by 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; it goes beyond opening and closing prices and requires interpreting the essence of their fluctuations.

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

Distinguish candlestick types: bullish trend candlesticks (breakout continuation), bearish trend candlesticks (downward dominance), non-trend 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; high-definition images can be obtained for free (as shown in Figure 3).

Signal Candlesticks: Indicate entry timing, such as reversal candlesticks among 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 for action, while entry candlesticks execute (as shown in Figure 4).

Element 3: Basic Candlestick Patterns and Structures.

Beyond 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, and 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), to judge trend distances and termination methods.

Just 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, entering Stage 2 "Deliberate Practice."

Four, 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 Using Chan Theory & Trend Types)

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

Chart reading is market analysis, requiring answers to:

  • Current market state (trend direction, stage)
  • 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, retroactively mark all entry opportunities (as shown in Figures 10 and 11), such as:

  • Shorting at the top of a rising wedge in the early stage of a downtrend
  • Shorting during a non-terminal downtrend with an FB structure
  • Going long at the bottom of a trading range in the early stage of an uptrend

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 Own Trading System & Basic Win Rate)

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(Figure 13: Special Training Camp Deliberate Practice: Write Your Own 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 reviews.

Five, Stage 3: Live Testing

Once the system's win rate meets standards, enter 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 review data to assess fidelity.
  • Requirements: Only trade opportunities within the system, with a maximum of two stop losses for the same logic.
  • Result Analysis: Common reasons for data discrepancies include:
    • Emotional interference (overexcitement, 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, validating in cycles.

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

At this point, I have shared the complete growth path and validation methods. Those with sufficient budget can seek professional coaches 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 their bubble tea time to validate non-farm payroll fluctuations, while others calculate Bitcoin ETF arbitrage—this is a competition for the pricing power of time.

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

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Related Reading#

The Latest Ranking of the Top 10 Virtual Currency Trading Platforms in China for 2025 🔥【Worth Collecting】

【Real Stories of Getting Rich in the Crypto World】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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