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Topic: Is bitcoin the right cryptocurrency to start trading for a newbie? (Read 257 times)
September 08, 2018, 07:52:26 AM
August 06, 2018, 05:06:26 PM
I would think - yes first Bitcoin since you need bitcoin to invest in other alt coins.
August 01, 2018, 12:03:49 PM
First of all, you should invest with just your secondary money, not your main capital money, because in every investment there will always have a risk. So if something bad happen with your investment, you can still continue your life.
If you want for long investment, you can choose bitcoin, but for short investment, you can choose alt coin.
Bitcoin more stable and safer than another alt coin.
Although the gain from bitcoin is less than alt coin because the prize of bitcoin already much higher than another alt coin.
If you want for long investment, you can choose bitcoin, but for short investment, you can choose alt coin.
Bitcoin more stable and safer than another alt coin.
Although the gain from bitcoin is less than alt coin because the prize of bitcoin already much higher than another alt coin.
August 01, 2018, 05:30:32 AM
Yes. I think it's most easier to trade with bitcion. Because it has fast growth in market. Nothing to lose in here.
Just need to stay connected with market. As a newbie I prefer and suggest to trade for long term.
You should invest your idle money in here so that you can invest for long term.If you do then I assure that you can make huge profit in here.
But remember never buy crypto to his peak point.
Wait for fall and Wait for High then sell make profit be happy..
Just need to stay connected with market. As a newbie I prefer and suggest to trade for long term.
You should invest your idle money in here so that you can invest for long term.If you do then I assure that you can make huge profit in here.
But remember never buy crypto to his peak point.
Wait for fall and Wait for High then sell make profit be happy..
August 01, 2018, 05:10:03 AM
Absolutely. For a newbie, Bitcoin is certainly the right place to start. I believe it's the crypto that has been around the longest. So, that somewhat speaks of some security. It's also the most widespread. You might ask how does this help you? It helps in that you can easily find experts around you who could put you through. Information about bitcoin is also easier to find, especially on the internet. So, there you go. But in spite of all this, even with Bitcoin, there's no guarantee. So, be careful.
August 01, 2018, 04:38:57 AM
Bitcoin its the safest One. Now you are subject to the up
And down like any others coins.
The better advice i can give its ONLY Invest what you can loose. Only do daily trading if you have time for it.
I start with that when i return to crypto and i regret doing that. Good luck
And down like any others coins.
The better advice i can give its ONLY Invest what you can loose. Only do daily trading if you have time for it.
I start with that when i return to crypto and i regret doing that. Good luck
August 01, 2018, 04:01:16 AM
Not that really.A lot of coins can be use to.There are different alternative currencies that offers opportunity for beginners to trade with than bitcoins.
While it's true that you can theoretically start anywhere, Bitcoin is the perfect starting point because of its wide availability along with plenty of resources. You can stick with tried and tested wallets and exchanges, for example, which may not be applicable to some obscure coins.
If you want to learn about cryptos by actually experiencing using it, Bitcoin is the way to go. You can branch out slowly after that because pretty much every coin comes with a BTC pair anyway, but not vice versa.
August 01, 2018, 12:48:39 AM
you may, as the purchase amount may not be as a unit or whole number, while you should also know that it is not a must and necessary, just that bitcoin is the first and most common-known cryptocurrency in this industry. but if you trying to trade on other like ETH or EOS, they are actually more or like the same, just similar to how do you trust in the real world
stock market
stock market
July 31, 2018, 11:34:13 PM
I believe that one should invest his time before investing is money and learn and understand what the Crypto market is all about. It doesn't matter if you have $1 or 1 million to invest, you can make good amount of money if you have knowledge and understanding about the market and if your skill enough to take the advantage of the situation taking place there, on the other hand, one can lose his entire capital if he doesn't have any knowledge about the market. I have lost my entire capital in my initial days of trading when I used to blindly follow others opinion without doing my own research. It's not just the Bitcoin but you can make money in any other good coin if you know how to handle certain situations.
July 31, 2018, 10:47:38 PM
it has nothing to do with how much you have in your savings when you are talking about starting to trade. it depends on how much you understand the market and trading itself. if you have no idea what to do then trading is not for you. and of course it is obvious that altcoins are much more volatile and they are extremely manipulated which makes trading them for a newcomer impossible so starting with bitcoin can be better.
i disagree because most exchanges have a very small minimal limit for the orders you can place. for example this size is usually 0.00010000BTC which is less than $1 and when you invest, you don't invest $1 for trading, that doesn't even make sense!
not to mention that this limit is carried to altcoins too. which means when you trade in Doge markets for example you can not place a 1 Doge order you have to place a 0.0001BTC worth of Doge order. in other words that limit is about 200-500 Doge in different exchanges which is the same size as bitcoin in USD value.
If you have limited capital or very less capital then I will suggest you to trade with Doge pair. Generally you can invest little- little in every coin without risking too much.
i disagree because most exchanges have a very small minimal limit for the orders you can place. for example this size is usually 0.00010000BTC which is less than $1 and when you invest, you don't invest $1 for trading, that doesn't even make sense!
not to mention that this limit is carried to altcoins too. which means when you trade in Doge markets for example you can not place a 1 Doge order you have to place a 0.0001BTC worth of Doge order. in other words that limit is about 200-500 Doge in different exchanges which is the same size as bitcoin in USD value.
July 31, 2018, 10:32:51 PM
The bitcoin is top and main cryptocurrency in the coinmarketcap. That means most exchanges based with bitcoin trading pairs. Now, you can understand bitcoin is right cryptocurrency to start trading. First of all, you have to start learning about trading before the start. Don't put a large amount of money to start the trade. Take some experience with the trading mate.
July 31, 2018, 06:50:11 PM
Not that really.A lot of coins can be use to.There are different alternative currencies that offers opportunity for beginners to trade with than bitcoins.
July 31, 2018, 06:21:50 PM
bitcoin is great cryptocurrency to trade with due to it popularity globally than altcoins. bitcoin is trade in forex market which make it more liquidated easily than some of this altcoin. you will need technical and fundamental analysis to be able trade successfully.
July 31, 2018, 05:28:54 PM
I would say yes. It's the most accessible by far, and the simplest to get into. Buy and hold for a little, until you see how the volatility of the market works. Then as you learn, you can branch out into other altcoins if you have the funds.
July 31, 2018, 05:24:31 PM
You would need to understand the basics of cryptocurrency and the risks that follows it particularly if you're into trading.
I wouldn't recommend jumping into the market right off the bat though. Even if you are briefed of the basics, you are still at a disadvantage if you don't have any experience on how the market works so go watch it for a while, preferrably while make-believing you are trading - sign up at any exchange, grab that note and write the orders.
And you might wanna check this cryptocurrency trading simulator, it's free: https://coins2learn.com/market
I wouldn't recommend jumping into the market right off the bat though. Even if you are briefed of the basics, you are still at a disadvantage if you don't have any experience on how the market works so go watch it for a while, preferrably while make-believing you are trading - sign up at any exchange, grab that note and write the orders.
And you might wanna check this cryptocurrency trading simulator, it's free: https://coins2learn.com/market
July 31, 2018, 05:13:14 PM
Preferably someone who does not have much in his savings. Is bitcoin the right cryptocurrency or should he go for an altcoin?
Yes bitcoin is the right crypto for you to start.How much exactly should a newbie shell out to start trading and what do you think any newbie with little savings or investments should keep in mind before they officially get into cryptocurrency?
You said that you don't have much saving so invest only what you afford to lose. And do it as a trial so if ever goes wrong, you can accept it. July 31, 2018, 04:56:39 PM
Probably bitcoins should be the first cryptocurrency any newbie to trading should lay hands on. It has much liquidity and very volatile which you can make trades with.
July 31, 2018, 04:44:49 PM
Preferably someone who does not have much in his savings. Is bitcoin the right cryptocurrency or should he go for an altcoin? How much exactly should a newbie shell out to start trading and what do you think any newbie with little savings or investments should keep in mind before they officially get into cryptocurrency?
What Lakao91 says:
You shouldn't consider trading at all if you are already short in savings and new to the market. You will (most probably) lose money at the beginning, a newbie wont be able to control his feelings and especially greed when money gets lost, but that's one of the most important parts in trading in my opinion.
Sound so annoying because everybody is repeating it all the time but it's true: don't invest more than you are comfortable to lose.
Nobody is comfortable with losing any money but yes, you will definitely lose some if not all. Be prepared for that, financially and mentally.
Personally I think Bitcoin is quite ok if you are just starting with trading. Try to learn as much as you can. Then, with time, you can move on to some new and riskier coins with bigger potential (to earn more $ or BTC in shorter time).
July 31, 2018, 02:27:15 PM
You shouldnt consider trading at all if you are already short in savings and new to the market. You will (most probably) lose money at the beginning, a newbie wont be able to control his feelings and especially greed when money gets lost, but thats one of the most important part in trading in my opinion.
Try to enroll in bounty campaigns, if you are lucky you may earn at least 1-2 ETH per month
Try to enroll in bounty campaigns, if you are lucky you may earn at least 1-2 ETH per month
July 31, 2018, 02:05:46 PM
Preferably someone who does not have much in his savings. Is bitcoin the right cryptocurrency or should he go for an altcoin? How much exactly should a newbie shell out to start trading and what do you think any newbie with little savings or investments should keep in mind before they officially get into cryptocurrency?
If you have limited capital or very less capital then I will suggest you to trade with Doge pair. Generally you can invest little- little in every coin without risking too much.
Only disadvantage in trading in Doge or any other Alt coin is that all altcoins generally fall together or rise together so might no get profit even in coin price rise.
For Ex. you bought coin A for 1 doge (Doge is currently 40 satoshi). 1 month after you find coin A is now 55 satoshi but value of Doge is also 55 satoshi , so even the coin price increased but using that Altcoin (or Doge ) pair will not give you any benefit unless you sell them for BTC.
But if you just want to get trading experience then it will be the good experiment with very less money.
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