Ten years ago, when I first entered the crypto world, I made 50% profit in one night, but I also wiped out my account within an hour. In 2014, during that major upheaval, Bitcoin was cut in half, and I watched my assets shrink by 60%. That feeling was truly unforgettable, and even now, thinking about it still hurts a little.

Time flies, and ten years have passed in the blink of an eye. My account balance has surpassed eight figures. But what I want to talk about most isn't how much money I've made, but how I managed to survive until now.

The crypto space, to put it simply, is a battlefield of cognition realization. In this market, 90% of newcomers lose money in their first year, some even go bankrupt and wipe out their accounts. I've seen too many such cases. The gap between ordinary investors and those who truly make money isn't in information channels, but in two words—discipline.

**Let's talk about the truth of the crypto world**

The core logic of this market is actually "value speculation plus cycle betting." The value of promising coins comes from technological progress and ecosystem consensus, but prices are wildly amplified by bull and bear cycles. Most people get lost in these exaggerated fluctuations.

I've summarized a few common pitfalls that ordinary people tend to fall into:

**First Pitfall: Blind Following**
Seeing influencers on TikTok, Xiaohongshu shouting, and blindly buying in. They have no idea what the project is about, only hearing that it can rise and throwing money in. This kind of "copying others" is the fastest way to lose money. I've seen people deceived by promises of "referral commissions" and "hundredfold returns," only to end up losing everything.

**Second Pitfall: High Leverage Trading**
Opening 10x, 20x contracts, thinking they can make a profit. But when a correction hits, they get liquidated. Leverage is like a double-edged sword—10% gains turn into 20%, but a 10% drop means zero. Many people simply can't control it.

**Third Pitfall: Believing in Overnight Riches**
Every day in the crypto world, there are so-called "moon coins," but 99% of them are traps. Frequent trading, chasing rallies, and selling on dips—ultimately, you're just paying transaction fees to the exchange.

**Discipline is the true protective talisman**

The reason I am still here is not because I am smarter than others, but because I learned self-discipline early on. Over these ten years, I gradually realized: cognition determines the ceiling, discipline determines life or death.

The real logic of making money is simple—choose projects with solid fundamentals, invest regularly or dollar-cost average, buy the dip in bear markets, and gradually reduce positions in bull markets. That's it. No need to watch the charts every day, chase hot trends, or trade frequently.

On the contrary, those who watch the market movements obsessively, chase after every spike, and leverage heavily, tend to die the fastest. The market is so volatile that if your mindset isn't stable, no amount of capital can save you.