What You Should Know About Cryptocurrency Trading

What You Should Know About Cryptocurrency Trading

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CRYPTO IS ADDICTIVE!!!!!

What to know before investing into crypto? Cryptocurrency is a revolution, it's safe to say it's the future. Digital currencies can be an interesting investment Opportunity. If you are a new investor having fear of losing your capital or getting lured by scammer

Here are few things you should look out for before investing;

  1. TIMING

You should know the market was never designed to favour you. Always have an exist plan before you crash! For example you bought btc at $10000 and then it rose up to $40000 don't hesitate to remove your profit leaving behind your initial trading capital,now because of speculations going about btc hitting $100k you refuse to take out your profit,due to it's volatile nature,it can fluctuate at any time. Now btc declines in value that's a major loss on your end.

Minimize greed

2.ICOs? DO YOUR RESEARCH

Always research in a project before you invest Initial coin offerings, where companies create and sell new cryptocurrencies, were very popular in 2017. Although the market has cooled, some investment opportunities still exist. This can be extremely risky — and if you're going down the ICO route, make sure you read white papers thoroughly, and examine whether their business actually has a need for blockchain technology.

what’s a white paper ? Whitepapers are documents that explain the purpose and technology behind a project. It contains statistics, diagrams and facts to convince potential investors to purchase the cryptocurrency.

3.CHOOSE A COMMUNITY

In crpyto you can't make it all on your own You need to associate yourself with people with the goal as you. Choose a mentor, someone you look up to,but also be watchful because most of these mentors push you into buying coins for their own selfish needs.

4.A GOOD CRYPTO EXCHANGE

Look for a crypto exchange with strong levels of liquidity, an array of crypto assets, resilient security measures, and reliability. Coinbase is highly recommended for beginners, Binance.US best for low fees,Crypto.com best for security and many more.

5.PROTECT YOUR PRIVATE KEYS

Last but not least, remember that you need to keep your cryptocurrency safe. One of the best ways to do this is through a hardware wallet, as this will mean your crypto assets are held securely and far, far away from an internet connection.