Welcome to the world of Web3, where cryptocurrencies, blockchain, and a unique culture converge. Entering the world of Web3 can be both thrilling and overwhelming, especially when faced with the seemingly cryptic language used by enthusiasts. Don't worry if you feel they sound like some secret codes, we are here to unravel their meaning in Web3 context. In this article, we are going to introduce [BTD].
What is BTD?
Guidance for Web3 Newcomers
Understand Market Trends:
Before considering a BTD strategy, it's important to have a basic understanding of market dynamics and what causes price fluctuations.
Do your Own Research(DYOR):
Always research the asset thoroughly. Understand why the price dropped and what the future prospects look like.
Risk Management:
Never invest more than you can afford to lose. The volatile nature of crypto markets means that there is always a risk of losing your investment.
Avoid Impulse Decisions:
Don’t let emotions drive your investment decisions. Buying the dip should be a calculated decision, not a reactive one.
Conclusion
For newcomers in the Web3 space, understanding and appropriately applying the BTD concept can be a valuable part of your investment strategy. However, it's crucial to approach it with careful research, risk management, and a clear understanding of market dynamics. Always remember that every investment decision should align with your overall financial goals and risk tolerance.
If you would like to learn more about web3 slangs, let’s explore more in our HackQuest Web3 Glossary!