Buying and trading cryptocurrencies can be an emotional experience. It is fast paced and there are many different types of transactions to make. Some people try to make money from the volatility of cryptocurrency prices through short-term trading during the day. Others are looking to hold on to long-term investments and hope the cryptocurrency they buy will be a store of value.
All of this makes buying and trading cryptocurrencies fun and profitable. But it can also be tied to FOMO and FUD, which creates risks that influence decisions because they are based on emotions rather than facts. In order to minimize risks and avoid losing money in the cryptocurrency market, it is important that you always control your emotions.

The most important thing before you start trading is to have a clear / specific idea of your goals when investing in cryptocurrencies. Before buying any coin, ask yourself the following questions:
How to buy coins that fit your finances in general? Do you have other savings? Is crypto the best way to start investing? Buying a safe coin will have an easier start?
       Can you afford the losses when buying cryptocurrencies?
       Do you know anything about the risks and volatility in the cryptocurrency market?
       How will you use your cryptocurrency: buy and hold, or trade?
Choose the right exchange

Choosing the right trading platform is one of the ways that will help you achieve your goals. Some exchanges list dozens of coins to buy and trade, while others list only a few. Some allow you to withdraw your cryptocurrency into fiat currency, allowing you to buy crypto with fiat while others do not. Finding out which floor is best for you is essential. Here are some factors that you need to consider
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Location: Using residential floors in your country will help meet all legal requirements. It is also easier for you to send or withdraw money in your country's fiat currency using the same bank where you live.
Coins and trading pairs available: Take a look at the exchange you want to use. Which coin, which trading pair is available? Can you buy cryptocurrency with a fiat currency deposit or just with another coin like Bitcoin? If you are looking for a long-term investment, trading with basic coin pairs is the best. On the other hand, if you are looking for a day trade, you may need to trade with advanced trading features.
Security: Security is one of the very important things. Use any type of website with a strict login process, the better. Make sure the platform does everything just to protect your money from hackers. Check out the news regarding this platform and every risk that has ever been reported. Another part of security is access to the floor's support team, which helps you to contact managers when anything goes wrong or you simply need help.

Know your limits

You have to know how much you can spend and stay within that limit. The amount you want to spend depends on your funds (see item 1 above). Investing in cryptocurrencies carries significant risks, so you should only spend what you can afford to lose. Once you've set your limits, adhere to that. Don't decide to spend more on a good idea because of FOMO. This can lead to a disaster.
Take advantage of limit orders
Limit orders can protect you from falling into a loss when the price of cryptocurrencies plummets. Limit orders allow you to set the lowest limit that you will allow your cryptocurrency price to drop before selling. Limit orders also help lock in profits ..

Do not obsess about market charts

The essence of the cryptocurrency sector is that prices always fluctuate significantly. This is something that appeals to crypto trading. The change in price can be in seconds, creating a profit opportunity. At the same time, volatility can cause an emotional roller coaster. See a market chart that can cause your blood pressure to rise and trigger an emotional response, leaving you in FOMO (fear of being abandoned). It is true that market charts are valuable, but from my experience, staring at them 24 hours a day is not the best way to keep your emotions under control when buying money. electronic.
Conclude
Cryptocurrency trade can be very interesting and potentially profitable. But it also comes with high emotional risks. I hope the six items listed above can help you stay strong regardless of the situation.
Good luck!