Being able to understand "black talk" means fewer teaching fees in the crypto circle.

Let's start with the basics—spot trading.
Spot trading means buying directly with USDT or fiat currency, and the funds are credited immediately, avoiding liquidation.
But don't mistake it for "safety": if the market halves, you'll still lose quite a bit, just not all at once.
Now, let's talk about the real watershed—futures contracts.
Futures are not a technical game; they are a battlefield of discipline and probability.
Leverage of 5x, 10x, 20x may look tempting, but you need to understand: going long with 20x leverage, if the coin drops 5%, your account is wiped out.
This is not an exaggeration; it's mathematics.
The key point is this: understanding U-based contracts vs. coin-based contracts is the first lesson for all futures traders.
U-based contracts:​ Settled in USDT, stable, easy to control, and risk is quantifiable.
Suitable for beginners and also for bear markets. When market trends are uncertain, you can practice with them first.
Coin-based contracts:​ Settled in coins, meaning you earn coins while the coin price also rises, and during a bull market, profits multiply.
But in a bear market, it's an abyss: coins fall, margin also drops, and losses are doubled.
Start with U-based contracts, small positions for practice. ​Avoid high leverage; don't treat futures as an ATM. Once you understand the trend, then consider the high-profit logic of coin-based contracts.
Not understanding the market, lacking direction, or having fuzzy cognition are the root causes of losing money.