Novice to enter the currency circle need to learn systematically, choose reliable platforms, ensure safety, master trading operations, and continue to learn. 1. Learn basic knowledge, including blockchain principles, mainstream currencies, storage usage and risk management; 2. Choose reliable exchanges such as Binance and Ouyi; 3. Set up a secure environment, enable two-step verification and backup private keys; 4. Deposit through C2C or bank and conduct spot trading; 5. Continue to pay attention to the dynamics, diversify investment and strictly stop losses.

At a time when the digital currency wave is sweeping the world, the "currency circle" has attracted countless people as an emerging and vibrant field. It is not just a simple investment market, but also a unique ecosystem that integrates cutting-edge technology, financial innovation and global communities. For many newbies who are eager to try, the currency circle is full of opportunities and challenges. Understanding the essence of the currency circle, mastering its operating rules, and finding the correct way to enter the industry is the key to embarking on the journey of digital assets. This article will deeply analyze all aspects of the currency circle, help readers clear the fog and clearly understand this digital world full of infinite possibilities.

What is the currency circle?

As the name suggests, the currency circle is an ecosystem formed around cryptocurrencies (also known as digital currency and virtual currency). It covers all related activities such as issuance, transaction, storage, application, mining, technology development, media communication and community exchanges of cryptocurrencies. In this circle, people can participate in various ways, such as:

• Invest in and trade cryptocurrencies to earn profits from them.
• Participate in the development or application of blockchain projects and promote technological progress.
• Carry out cryptocurrency mining, provide computing power for the network and receive rewards.
• Study the market trends and technical trends of cryptocurrencies.
• Join the cryptocurrency community to share information and experiences with other enthusiasts.

Unlike traditional financial markets, the currency circle has significant characteristics such as decentralization, globalization, and 24/7 trading . The underlying technology of most cryptocurrencies is blockchain, which gives them transparent, tamper-free and secure features. The currency circle is developing very fast, and various innovations are emerging one after another, attracting the attention of technology enthusiasts, investors and financial institutions around the world.

How to enter the currency circle?

Entering the currency circle does not happen overnight. It requires systematic learning of relevant knowledge and practice it carefully. The following are some key steps and precautions for entering the currency circle:

1. Learn basic knowledge

This is the first and most important step to enter the currency circle. Without a solid theoretical foundation, it is difficult to gain a foothold in the complex and changeable currency circle.

• Understand blockchain technology: master the basic principles of blockchain, including core concepts such as blocks, hashing, consensus mechanisms (such as PoW, PoS), smart contracts, etc.
• Understand mainstream cryptocurrencies: Learn the characteristics, history, application scenarios and market value of mainstream cryptocurrencies such as Bitcoin and Ethereum.
• Understand cryptocurrency storage: master the principles, security and usage methods of different types of storage such as hot storage, cold storage, and hardware storage.
• Familiar with trading terms: understand basic trading terms such as K-line chart, trading volume, market order, limit order, take-profit and stop loss.
• Master risk management: Deeply understand the high volatility of the cryptocurrency market, and learn risk control strategies such as diversified investment and stop loss.

2. Choose a reliable exchange

Exchanges are the bridge connecting fiat currencies (such as US dollar, dollar) and cryptocurrencies, and are also the core platform for trading. It is crucial to choose a safe, reliable and liquid exchange. Here are some of the top mainstream exchanges in the market:

1. Binance

• One of the world's largest cryptocurrency exchanges, with huge trading volumes.
• Provides a wide range of trading pairs, including spot, contracts, leverage, etc.
• It has a complete ecosystem, such as Launchpad, Staking, etc.
• Provides multilingual support and a strong user community.

2. OKX (Ou Yi)

• The world's leading cryptocurrency trading platform with many users.
• Provide a variety of trading products, such as spot, derivatives, financial management, etc.
• Strong technical strength and stable and reliable trading system.
• Actively expand the Web3 field and provide more innovative services.

3. Huobi (Huobi)

• An old cryptocurrency exchange with a broad user base.
• Provide diversified digital asset services, including transactions and storage.
• Focus on user asset security and compliance operations.
• Operation centers are set up in many countries and regions around the world.

3. Set up a safe trading environment

Security is the lifeline of the currency circle. Before doing anything, be sure to ensure that your trading environment is safe enough.

• Use a strong password: Passwords should contain upper and lower case letters, numbers and special characters and be replaced regularly.
• Turn on two-step verification (2FA): This is the most basic security measure and is highly recommended for all accounts to enable it, and can be used with Google Authenticator or SMS verification.
• Beware of phishing websites: Be sure to access the exchange through official channels, carefully check the URL, and avoid clicking unknown links.
• Use standalone devices: Use devices that are dedicated to cryptocurrency transactions where possible, and avoid installing unknown software.
• Regularly back up private keys: If you use decentralized storage, be sure to properly keep and back up private keys or mnemonics.

4. Deposit and trading operations

When you are ready, you can start trying to deposit and trade. The following are the detailed operation steps:

• Choose deposit method: Most exchanges support multiple deposit methods, common ones include:
• C2C (OTC trading): This is the most common way to deposit fiat currency. Users directly conduct fiat currency-to-cryptocurrency transactions with merchants through the exchange platform.
• Bank Transfer/Ticket: Some exchanges support direct bank transfer or wire transfer.
• Credit Card/Debit Card: Some exchanges support the use of credit or debit cards to purchase cryptocurrencies directly, but the handling fee is usually high.
• C2C trading tutorial (taking the purchase of USDT as an example):
• Log in to the exchange account: Visit the official website of the exchange you selected and log in to your account.
• Enter the C2C trading area: Find the "C2C" or "Fire Currency Trading" option in the exchange homepage navigation bar or the "Trade" menu and click to enter.
• Select Buy: Make sure you select the Buy option.
• Select a cryptocurrency: Select the cryptocurrency you want to buy in the list of available currencies, usually USDT (Tether), as it is a stablecoin that is pegged to the US dollar for easy subsequent transactions.
• Choose a payment method: According to your preferences, choose your commonly used payment method, such as bank card, Alipay or WeChat Pay.
• Select a merchant: The platform displays a range of merchants to choose from, and they offer different prices and limits. You should choose a merchant based on the following points:
• Price: Choose a merchant with a reasonable quotation.
• Volume and completion rate: Choose merchants with large transaction volume and high completion rate, which usually means they are more reliable.
• Payment Method: Make sure the merchant supports the payment method you choose.
• Limits: Check whether the merchant’s minimum and maximum transaction limits meet your needs.
• Enter the purchase amount: Enter the fiat currency amount or USDT quantity you wish to purchase in the input box. The system will automatically calculate the corresponding number.
• Place an order: After confirming that the information is correct, click "Buy USDT" or similar button to create an order.
• Pay to the merchant: After the order is created, you will see the merchant’s collection information (bank card number, Alipay account or WeChat collection code). Please be sure to transfer money to the merchant using the payment method you bound to the order page according to the amount displayed.
• Click "I have paid": After completing the payment, return to the order page and be sure to click "I have paid" or similar button to confirm . This will inform the merchant that you have completed your payment.
• Wait for the merchant to release coins: After receiving your payment, the merchant will check the payment and release the corresponding amount of USDT to your exchange account after confirming that it is correct. This process is usually fast, but can sometimes take several minutes.
• Completed: When USDT is received, the order is completed. You can view purchased USDT in your Fund Account or Spot Account.
• Spot trading tutorial (taking USDT purchase of BTC as an example):
• Fund transfer (if required): If the USDT you purchased through C2C is in the "Fund Account", you need to transfer it to the "Spot Account" to conduct spot transactions. On the "Assets" or "Storage" page of the exchange, find USDT, select "Transfer" or "Internal Transfer", and transfer USDT from "Fund Account" to "Spot Account".
• Enter the spot trading area: Find the "Spot Trading" or "Coin Trading" option in the exchange navigation bar or the "Trade" menu and click to enter.
• Select a trading pair: On the left or top of the trading interface, find the trading pair selection area. Enter "BTC/USDT" or search for BTC directly, and select the "BTC/USDT" trading pair.
• Select an order type: Common order types are:
• Limit Order: You can set an expected buying price. Orders will only be completed when the market price reaches or is below your set price.
• Market Order: Buy immediately at the best price in the current market. This kind of order guarantees immediate transaction, but the price may not be the best price you expect.
• Stop-Limit Order: Set a trigger price. When the market price reaches the trigger price, the order will be posted in the form of a limit order you set.
• Enter the Buy Quantity: If you choose a limit order, you need to enter the BTC price and quantity you want to buy (or the USDT quantity you want to spend). If you choose a market order, just enter the amount of USDT you want to spend, and the system will purchase the corresponding amount of BTC at the market price.
• Confirm buying: carefully check the order information, click "Buy BTC" or similar button after confirming that it is correct.
• View Order: Your order will be displayed in Current Order or Historical Order. The limit order will remain at the "current commission" before the transaction is completed, and will be transferred to the "historical commission" after the transaction is completed. Market orders are usually traded immediately and are directly displayed in the "Historical Entrustment".
• View Assets: After the transaction is completed, you can see the amount of BTC you hold in the Spot Account.

5. Continuous learning and risk control

The currency circle is a highly dynamic and rapidly changing market, and continuous learning and strict risk control are the keys to long-term survival.

• Pay attention to industry trends: read authoritative media, analytical reports, pay attention to the progress of blockchain projects, changes in regulatory policies, etc.
• Learn technical analysis and fundamental analysis: Master technical analysis methods such as chart analysis and trend judgment, and also pay attention to fundamental factors such as technical strength, team background, and application scenarios of cryptocurrency projects.
• Diversified investment: Do not invest all your money in a single cryptocurrency or project, reduce risks by diversifying investment.
• Stop loss and take profit: Set clear stop loss and take profit levels, strictly implement them to avoid emotional trading.
• Only invest your spare money: Never invest money that you can't afford to lose. The cryptocurrency market is volatile and there is a risk of losing principal.
• Stay rational: Avoid chasing ups and selling downs, not being affected by market sentiment, and keep thinking independently.

Entering the currency circle is a gradual process that requires patience, learning and practice. With solid knowledge reserves, prudent risk management and continuous learning, you will be able to better navigate this world of digital assets full of opportunities.

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