Topic: What I Should Know Before i Start Trading Cryptocurrency (Read 1141 times)
You should keep following any news or rumors for crypto which you want to trade and know that day trading sometimes will make you loose money.
What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Nowadays crypto trading is very popular but trading is not an easy platform. First research and know about the trading platform on google or youtube and there have many sites or video about. There have many important coin and project so all altcoin is not for a long time holding so visit https://coinmarketcap.com/ and get more information every coin Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
The 1st step to do before starting trading in cryptocurrencies is visiting coinmarketcap website .
You'll find there all the coins that exist and you'll be able to form a global vision of the cryptocurrencies market just from that website .
You'll be able to know the fluctuations that each coin have encountered in the past and you'll be able to predict what fluctuations will be coming (after making a bit of experience of course Wink ) .
Second of all you should go through a lot of important threads on the forum to gather the knowledge you need and believe me there is knowledge to grab in every corner of this forum .
Last but not least , there are a lot of youtubers that will be of a great help in order for you to understand basics of trading
You'll find there all the coins that exist and you'll be able to form a global vision of the cryptocurrencies market just from that website .
You'll be able to know the fluctuations that each coin have encountered in the past and you'll be able to predict what fluctuations will be coming (after making a bit of experience of course Wink ) .
Second of all you should go through a lot of important threads on the forum to gather the knowledge you need and believe me there is knowledge to grab in every corner of this forum .
Last but not least , there are a lot of youtubers that will be of a great help in order for you to understand basics of trading
That you are probably not going to become a millionaire as shown by many. You will meet a lot of fraudsters. You will constantly undergo FOMO and feel FUD. You will find it difficult to get genuine unbiased opinion.
You also need to build your portfolio based on your sound understanding of the cryptos you want to buy. You should figure out a way to store your coins in a wallet where you hold the private keys .
You will also need to compare the prices of various cryptocurrency across multiple exchanges. You can use CoinSwitch which is one of the best crypto trading platform to compare and exchange over 300+ coins at best rates.
You also need to build your portfolio based on your sound understanding of the cryptos you want to buy. You should figure out a way to store your coins in a wallet where you hold the private keys .
You will also need to compare the prices of various cryptocurrency across multiple exchanges. You can use CoinSwitch which is one of the best crypto trading platform to compare and exchange over 300+ coins at best rates.
you need to know knowledge about trading and there is no just about hold and sell. you should know before you trade better you know first how the coin moves happen and you can determine the right time to buy coin and the right time to sell coin after you master it all I am sure you can always get a lot of profit
As was said earlier 'buy low and sell high'. It's an obvious thing that should be felt subconsciously. But sure it's not enough.
Before trading, you'd better do your own research almost about everything. You could also go to other forums, ask people's opinions or look at appropriate topics you're interested in. Read articles on the Internet, watch videos on YouTube. I'm pretty sure there is a lot of helpful information, try different simulators.
After that, you can try to start trading on exchanges, use popular ones. I once started with cex and it was quite helpful. Still mind fees as they differ much among exchanges.
Before trading, you'd better do your own research almost about everything. You could also go to other forums, ask people's opinions or look at appropriate topics you're interested in. Read articles on the Internet, watch videos on YouTube. I'm pretty sure there is a lot of helpful information, try different simulators.
After that, you can try to start trading on exchanges, use popular ones. I once started with cex and it was quite helpful. Still mind fees as they differ much among exchanges.
Before trading cryptocurrency you need to understand all terminologies regarding blockchain,and join various crypto forums.
Personally, the important thing to me is pay attention to the trading fee and the trend of the market price, or else will get suffer only.
Like all decisions in life, do your own research before putting a penny into cryptocurrencies. There are many good sources out there to help you get started!
1 important thing - Just as with anything else in life, trading cryptocurrencies is context dependent. That means you should remain a
healthy sceptic about general truths, universal rules and things that "everyone knows". Consider the famous "buy low
sell high" dictum. The definition of high and low is subjective in most cases since it depends on your timescale, goals
and trading strategy. If you’re a hodler, as are many of the fellow redditors here, your high and low will differ
dramatically compared to the day trader's.
healthy sceptic about general truths, universal rules and things that "everyone knows". Consider the famous "buy low
sell high" dictum. The definition of high and low is subjective in most cases since it depends on your timescale, goals
and trading strategy. If you’re a hodler, as are many of the fellow redditors here, your high and low will differ
dramatically compared to the day trader's.
It's great that everyone is telling you that you should learn when to buy and sell, but no one is telling you to read at least a little bit about fundamentals in order to understand what you're investing in. Check out some of the things on this list, they might be helpful for you to actually learn something useful long-term:
https://lopp.net/bitcoin.html
https://medium.com/market-protocol/blockchain-crash-course-protocols-dapps-apis-and-dexs-4c324964f9c2
http://velascommerce.com/resources
https://lopp.net/bitcoin.html
https://medium.com/market-protocol/blockchain-crash-course-protocols-dapps-apis-and-dexs-4c324964f9c2
http://velascommerce.com/resources
Hi, unfortunately it is not as simple as hodl or sell, i learned the hard way when I first started out and although i got 'rekt' (as they say!) i learned some valuable lessons! Dont make the same mistakes as I- though weirdly, they are a harsh learning curve! 
1. I dived in blindly thinking that everything was going to keep on rising forever- of course its not and i realised that soon enough!
2. I didnt do any research of what projects i was getting into- best way to find out is to DYOR (do your own research) thoroughly
3. NEVER buy at an all time high (ATH) or you will be hit with a harsh reality.
4. Don't FOMO (fear of missing out) into a coin just because its moved 5-10% or see above for what happens
5. I dont profess to be a Technical Analysis expert, but basic knowledge of this will give you an inkling of whether the coin is going to move up or down, for example if it has risen lots over the past few days/weeks- expect a retrace. Conversely, if a coin is sitting in an accumulation zone then load up!
These are just a few of my basic tips, there is so much to learn and eventually you will get the hang of it. Until you find and perfect some basic trading fundamentals you are gambling blindly. Please take care and i wish you well.
1. I dived in blindly thinking that everything was going to keep on rising forever- of course its not and i realised that soon enough!
2. I didnt do any research of what projects i was getting into- best way to find out is to DYOR (do your own research) thoroughly
3. NEVER buy at an all time high (ATH) or you will be hit with a harsh reality.
4. Don't FOMO (fear of missing out) into a coin just because its moved 5-10% or see above for what happens
5. I dont profess to be a Technical Analysis expert, but basic knowledge of this will give you an inkling of whether the coin is going to move up or down, for example if it has risen lots over the past few days/weeks- expect a retrace. Conversely, if a coin is sitting in an accumulation zone then load up!
These are just a few of my basic tips, there is so much to learn and eventually you will get the hang of it. Until you find and perfect some basic trading fundamentals you are gambling blindly. Please take care and i wish you well.
You should have a plan fot trading, knowing your goals, be familiuar with token you want to trade and of course be aware of your character to avoid mistakes
Well, first thing’s first, you need to have a capital. Second, you need to look for a potential coin. How would you know if the coins has a potential in the future? Search for it, you can research about it here as well. Then if you’re sure enough with all of the info you know, buy it. Then that’s the time you will check if you’re going to hold it or sell it.
I think that the basics is buy low and sell when the price is high! It is not a secret even for non-traders who know market at least a bit. I am sure that this is the best way to trade and i also stick to this strategy
It is not all about hold or sell. It is much more than that. You have to be a market expert and should know the most liquid and profitable assets to invest in. You should have the technology understanding as well. This will help you opt a good technology for other services besides profit. Some knowledge of economics, finance and monetary economics would not be that bad either and will give you good edge over other counterparts.
What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Before you start trading crypto you have to expect that crypto market is very crazy and this will drive you nuts so you have to learn the basic skills for you not to lose all your funds. You will not master the art of trading right away its always a trial and error in every trade you will make so you have to ready your emotion because you will have a roller coaster ride before you will be successful here.Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
you need to know knowledge about trading and there is no just about hold and sell. many things you should to know before you start to trade like the coin which you will buy it, you can't buy the random coin at least buy the coin which has the future.
What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
All you need to do in getting started trading is to keep learning all the knowledge and knowledge that will help you in doing analysis to choose coin that you will buy. well with the passage of time then it will make you add experience. Knowledge, skill and experience is the initial capital to become a trader.Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
For now you will not be able to determine when to sell, buy and hold the coin you have. because it all must be in accordance with the circumstances and the existing situation. Well in these conditions you must determine what you will do. the most important is yourself you should be able to benefit from the margin of the sale and purchase coin you do.
What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?
Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Before you start trading crypto you have to expect that crypto market is very crazy and this will drive you nuts so you have to learn the basic skills for you not to lose all your funds. You will not master the art of trading right away its always a trial and error in every trade you will make so you have to ready your emotion because you will have a roller coaster ride before you will be successful here. Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Simple, you only need to wait. Waiting is the key in this crypto world. If you sold it in high price you must wait atleast days or weeks to buy in low price. Don't be emotional and doubt at it you need to stick on what you expect before you sold your tokens.
That's the common skills that you must have inside crypto, the more you know how to wait the better you will gain , patients is the key and whatever it takes better to make sure that you are willing to wait and you have lots of time to understand how the market will work, you should have more venue toread news and to find out what would be the next updates in which the movement will bring gains to your assets, with the use of the internet it will be
much easier to play with the market and understand the trading business.
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