Post
Topic
Board Beginners & Help
Re: Beginning with Crypto
by
Upgrade00
on 26/10/2020, 10:21:00 UTC
With crypto you can get huge returns.  However, it doesn't come easy, in a split second you could get or loose a large amount of money. This means crypto trading is exciting, and it can be very difficult to keep peace in mind under heavy pressure.
Cryptocurrency trading is significantly more volatile than a couple of other tradable assets, it is also largely unregulated so there's no legal process that goes into listing of coins. It is however not much different from regular trading and cryptocurrencies like Bitcoin can be traded against other currency pairs like USD quite easily.

The easiest way of making money in crypto is investing longterm. Rather than trading you can buy coins, hold them in your wallets untill the price appreciates and you sell and make your profit. Of course you have to make some research about the coin, and be convinced it has potentials before investing in them.
If you are taking the entire crypto market into consideration this becomes very difficult and with the high number of scam and fake projects it is very easy to loose out on your investment. Only a small number of cryptocurrencies are worth investing long term, notable among them is Bitcoin.

Another way you can invest is day trading, which is a trading strategy where investors buy and sell orders for multiple times in one day. This requires more knowledge and skills. I suggest you use a demo account.
Any type of trading takes time to learn and build experience in, so a demo account is always advisable for new traders, they should also prioritize knowledge over profit early on.