Topic: Should I trade coin at the beginning ? - page 2. (Read 317 times)

I started by reading a bunch of whitepapers of top coins on coinmarketcap.com. After I understood the technology and where the value comes from(had experience in trading stocks before) I just got my feet wet and put in a really small amount in 3 major coins. It really helps to be more focused and interested when you actually put a little bit of money before you get comfortable with bigger amounts.

First of all, welcome! It's definitely possible to learn how to trade coins (look into BitStamp or GDAX). However, if you want less risk with your money, it's advised to start small, learn about market trends, which coins are doing well, etc. You can start buy purchasing some of the main coins through Coinbase...it's not the best for day-trading since the fees are higher, but it'll give you a good idea of how everything works.

Hope this helps! Good luck 

You are better off hodling your coins than trading them and ending up losing them. Also according to stats you are likely going to make more return if you just hedl your coins then if you were trading with them.

I would agree with the majority here - if you are new - then you don't have to take any risky movements/decisions.
but if you still wish to trade or to exchage some coins to another coins then you can try using any exchange though it may take 2-3 weeks for KYC to verify...
I came across coinmonkey.io platform - it's a sort of scanner/exchanger which gets exchange rates from exchanges and you can actually perform transaction right at their website via api widget from the exchange, and no registration needed. right from your wallet and you receive coins to your wallet.

My experience is usually when the new coins out on the market first time the price corresponds to the price of ICO, after which the price drops continuously. so advise sara exchange early. but if you see the potential of such coins well in the future it would not hurt to hold the coins until the price rises more expensive.

I believe it depends on how much time do you want to spend in trading. To me, there are several steps to follow before even begin to do so:
1. Read about the cryptos you are interested in. Not all the crytos have the same system. They are thousands of them currently on the market, so making a research about them before even thinking on trading will give you a whole panorama and you will be able to make better decisions.
2. Once you choose your top 10, and your plan B and C, just study their behavior for at least a week. You will understand who they are moving, and what kind of movements seems to have some logic.
3. Just buy those you choose and begin the trade. But do not use too much money. This is similar to gambling, do not forget that, and you can loose everything. So just begin with the expendable amount you consider to be ok.
4. Spend some time trading in this way. I am sure you will see how rules can change, but there is always a kind of patron. When you understand it, feel prepare to trade a little bit more confident.

Now, trading implies to expend hours in front of your computer, and weeks, even months, just watching and learning.
Try to learn a bit every single day, but also avoid rush. If you enter into the trading world with rush and no patience, then it is going to be easy for you to loose money.
Another advice: be careful with people offering to trade with your money. If somehow you feel it is a good idea to trust anybody else, just make an investigation about him/her/them before giving away your money.

Be patience, take your time. To learn how to trade is slow and needs all your time and patience.
I hope you to success, and happy trading!

I also think that it is best to read a lot at the beginning. Read everything you can, at least that's what I did. Then I started with small amounts of money, to experiment.

Always make your own decisions.

everyone can trade in crypto coin .and you can also but if you want to earn in crypto 1st you should learn trading and  analyses chart with the help of indicators when you ll understand the chart you can earn easily in crypto 

One of the biggest mistakes I made in the beginning was to trade too frequently (e.g., day trading). It is very difficult, and essentially impossible for newbies, to predict the way the market will go. Rather, it is best to bet on the overall development of the crypto market by spreading investments over some of the better-known, higher-market cap coins, and then keeping that investment over a long period of time, as gains are usually found over the medium and long-term unless you get lucky; whereas luck itself very rarely lasts even into the medium term.

If you're planning to be a trader, then that means you need to have a deep understanding about the law of supply and demand that will help you for sure. The decision is always yours whether what path you are going to take. Just remember what experts say that "Do not invest  something that you can't afford to lose".

Its better to watch m Learn first then start trading otherwise you will loose your hard earned cash

Cryptocurrencies are volatile in nature we must observe it's movement in the market in order to gain more, don't let your emotions ruin plan in trading your assets remember the more time you hold your coin the more the temptation will come that make your investment deficit.

it depends on your goals! if its just to learn and understand how it all works

I think small trading its fine and you can understand how everything works, the fees, which exchanges are best to use and so on

later on u could consider joining some ICO after some more advanced research!

In cryptocurrencies you are more likely to earn more if you just hodl a coin than trading. If you aren't experienced in trading then you shouldn't dive into it. You need to research into this field for at least few months then think about anything.

hey sir, what do you mean by daytrading? Do you have specific explanations or links that you can share with me?
Thanks

First of all, welcome on the forum. As you said you are new to the cryptocurrency world, I would recommend you to spend maximum time in reading valuable topics/posts and learn about this world. If you are interested in trading then spend some time in understanding, how things work and try to analyse the situation.

Do invest your $100 worth of time before investing your actual $10 money so you will be in a better situation to understand the whole scenario and learn from the mistakes.

Yeah, you can do what you want because it's your money is on stake. You just need to be more careful in making your decisions so you will not end up broke. Study the system and don't deal big amount of money as a starter.

I personally don't do daytrading, but I've heard good things from High Altitude Investing from YouTube.

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High Altitude Investing (Channel): https://www.youtube.com/channel/UCD9j5qyDqQvb9qnLss3vxww

How to Trade Cryptocurrency for Noobs (Beginners) 2018: https://www.youtube.com/watch?v=DqV-SxDMg_4
Top 3 Mistakes Beginner Crypto Traders make: https://www.youtube.com/watch?v=FBtTL7zfBGQ
Investing Vs Trading (Cryptocurrecy): https://www.youtube.com/watch?v=OlKRYvC-Hvg

Use Paxful.com to trade in your gift cards

If day trading is what takes your fancy then go ahead. But there is much more profitability in holding a majority of what you accumulate. As it goes higher, sell off a bit. Good luck