Trading cryptocurrencies carries high risks. How can beginners protect their principal? Check out these tips.

First, don't consider yourself a professional broker. Jumping in without careful consideration is likely to lead to losses.

Second, have a clear target price in mind. This isn't just talk; you need to put it in writing and know your numbers so you can place orders with confidence.

Next is stop-loss. This is the most critical—set your stop-loss point and stick to it; don't drag it out. Delaying stop-loss is a common mistake among retail investors.

Don't play too aggressively with leverage. The higher the leverage ratio, the greater the risk of liquidation. Greed can eat you up.

Do your homework before entering the market—check news, charts, and fundamental analysis. Once in, stay alert to the market; don't only pay attention to favorable news. Any sudden movement should prompt you to close your position immediately.

Finally, learn to adapt. Market conditions change rapidly. Sometimes, good news can cause prices to plummet—this indicates your judgment might be off. The worst thing is to stubbornly hold on. Recognize mistakes in time and act decisively—that's what true experts do. There are no fixed rules in the crypto world; only those who survive and profit.