Binance CEO Richard Teng unveiled a three-point strategy for safe entry into the cryptocurrency market. Teng, addressing the common question of "How to start my crypto journey?", emphasises building a strong foundation.
He advises new investors to dedicate time to understanding blockchain technology, cryptocurrencies, and other fundamental concepts.
Next, Teng highlights the importance of independent research, urging users to "DYOR" (Do Your Own Research).
This in-depth exploration of different blockchains, protocols, and projects equips investors to identify promising opportunities and avoid potential risks.
Finally, Teng advocates for a cautious approach. He recommends starting small on a reputable platform to gain practical experience while minimising financial exposure.
Teng goes on to advise against succumbing to FOMO (fear of missing out), emphasising that his recommendations are not financial advice but rather practical steps for navigating the often volatile world of cryptocurrency.