Six steps to quickly get started in the Web3 industry for beginners.

22-11-30 18:00

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Source: Crypto KOL Bitwu.eth

BlockBeats Note: For newcomers to the Web3 industry, it can be confusing to know where to start learning the basics of Web3 and how to establish oneself in the industry. In response to this, Bitwu.eth, a prominent figure in the crypto industry, shared his insights on Twitter to help guide Web3 newcomers. BlockBeats has summarized his advice below:

Step 1: Lay a Solid Foundation

First, go and read the whitepapers of BTC and ETH. This is the foundation for understanding the cryptocurrency industry. After gaining some insights, maintain this habit and read the whitepapers of popular public chains, such as Aptos, Optimism in the Layer2 track, and Odyssey. Reading whitepapers is the most basic and effective way to learn.

After reading about 100 of them, you will be stronger than 90% of the big V on Twitter. However, don't rush into it at this time!

Step 2: Establish High-Quality Information Flow

After laying a solid foundation, establish your own high-quality information flow. For example, if you come across an article with excellent analysis, you should promptly check the source of the article and the author, and build an information flow library for future reference. In short, read more, filter more, and timely summarize for your own efficient information flow!

After mastering a certain knowledge system, it is necessary to collect useful information for investment through these channels, and then study them carefully to find their correlations and strive for integration! Using Twitter and some tools and news above is definitely enough for most people. However, it is definitely not enough to just scratch the surface. You need to dig deeper and ask questions about the areas you don't understand!

As a newcomer, besides Twitter, here are some recommended content platforms that can help you quickly establish your own information flow:

foresightnews.pro

theblockbeats.info

panewslab.com

Just start with these few and you'll have more than enough, plus a book called "Hello, Blockchain" that is easy to understand.

Step 3: Make a sample by yourself and keep learning from mistakes

The core of trading is trial and error. It is impossible to establish oneself without making mistakes. Other people's experiences and lessons are only theirs, and you cannot fully understand them. Play with contracts, "tu gou" (a Chinese term for low-quality or counterfeit products), and "shan zhai" (a Chinese term for knockoff products).

It is recommended to set aside a small amount of money that you can afford to lose, and keep trying. After experiencing pain, regret, reflection, and developing a respect for the market and risk, your path will become much smoother.

My habit is to write down why I invest, how much profit or loss I expect, or other plans every time I make an investment, and then analyze the results after they come out. By comparing my thoughts and plans before investing, I can figure out why I made money or lost money, and optimize my strategy. This step is crucial if you want to keep growing instead of gambling, and it's important to maintain the habit of reviewing your investments.

Step 5: Establishment of Trading System and Principles

Before leaving, drivers cannot predict the road conditions, but they can rely on their driving skills and experience to drive safely and calmly, encountering unexpected situations without danger.

Although investors cannot fully anticipate future changes in the market, they can try to mitigate risks based on their own experience and expertise.

Over time, once these experiences and techniques are established, it means that investors have established their own trading system.

Step 6: Sublimation

Any investment, in the end, is not about the ability to evaluate projects or analyze markets. Ultimately, it comes down to human nature.

In addition to a long-term understanding of the market, there is a deep understanding of some fundamental issues in market trading. On the other hand, it is our understanding of ourselves, including the degree of understanding of our own psychological weaknesses, character flaws, and thinking habits. These two factors interact and constrain each other.

Issues such as stop-loss in our trades and impulsive trading by market novices are not isolated or simple technical problems. As Confucius said, "When he ascends the heights, the petty-minded man is wont to think of himself as tall; when he descends into the depths of the valley, he is wont to think of himself as short." The deeper a speculator's self-awareness, the deeper their understanding of the market; and vice versa. Only by engaging in an inner struggle and achieving sublimation can one truly embark on the path to success.