How to Trade Cryptocurrency - for Beginners
A Beginners Guide to Trade Crypto
Let’s start! If you want to trade crypto you need at least two things:
1) Crypto Wallet;
2) Crypto Exchange (to trade crypto).
If you want to trade crypto, you can start by getting the Coinbase wallet. It’s the easiest way to buy Bitcoin with your bank account or credit card. You can always upgrade late with a desktop wallet, but for now it will do.
What You Need to Know to Start Trading Cryptocurrency
A beginner should start by choosing an enterprise with a good reputation that offers an exchange and wallet (to help keep the process simple).
There’s a lot of exchange. If you want to trade Altcoin, I can suggest you Cryptopia. The fees are really low and you don’t need to trade enormous amount. You can start with a few dollars worth of cryptos.
7 Easy Tips to Trade Cryptos:
Check the transparency of the virtual currency.
Privilege a cryptocurrency with a website with clearly identified investors and developers, a presentation of the project, possibly a roadmap indicating the anticipated technological advances. If none of this is accessible, distrust, you could be investing in a Ponzi scheme.
Invest what you can afford.
If the cryptocurrency adventure tempts you, get started with money you're ready to lose. It must be an investment representing a very small portion of your financial assets. Cryptocurrency is more of an experience to try if the heart tells you that a reasoned investment made with a view to diversification.
Define achievable goals.
Cryptocurrency is not a quick scheme. We assume that you can reach the moon if you are a billionaire, but for the rest of us, this board stands out as one of the most important: Set a realistic performance plan on your investment, whether it's act of five percent, 10 percent or 35 percent. And respect it! It's a young and very hard market, and it can be chaotic. Do not react at every downswing, and respect your long-term objectives.
Take the time to relax and breath. Do your research. Don't make impulsive decisions. Avoid what we call FOMO (Fear Of Missing Out). Choose the right buy-in and don't be afraid to wait.
Learn from your mistakes.
Let's be honest: any market can be like a game of poker. No matter what investor's experience you have, there will come a time when you will fail. Just jump back on the horse and try again, but this time with what you've learned in mind.
Track the market.
Track market trends over time and learn to read and interpret graphics. By all means, follow your investment in real time, but do not make a decision on the spot based on momentary fluctuations. It's always wise, no matter where you invest your money, to buy and sell based on long-term data.
The more you learn, the better you will do; this applies to investing in cryptocurrencies as much as to building an Ikea set. The resources are online for you, so there is no excuse.
Do not just stare at your investemment all day. Connect with your crypto community and share your thoughts and experiences. Put some passion and fun into your crypto experience, and everyone wins. Make your crypto investement a rewarding and enjoyable journey.
Start to Earn Today on Cryptopia.