Post
Topic
Board Nigeria (Naija)
Re: As a newbie to crypto currency
by
Samlucky O
on 18/03/2025, 05:49:24 UTC
New beginners to cryptocurrency trading are often thrown by the complexities of the market. It's crucial for beginners to start with thorough research and education, utilizing reliable resources and seeking guidance from experienced traders. Secondly, practicing with demo accounts can help build confidence and refine trading strategies before committing real funds. Another important tip is that if you spend money, then only a small percentage of your earnings, which is not critical for you to lose.
Surely even as I not a fans of Bitcoin trading I will say that demo account an real trading are two things entirely. Demo account is just like learning how to drive car online without the physical driving, so when you enter into the real world of it you will understand that demo is just playing around in form of learning compared to the real world Trading. Another thing I will like to emphasis more on is the aspect of using small amount to trade, you should know that even as we are afraid of losing fund in trading you should understand that the higher the amount invested the high possibility we get high profit, while the lower the amount invested the lower the profit too. So even if I will advice anybody to trade I will advice such person use a reasonable amount to get a better thing in return.
Leat say you invest $830 in Bitcoin when Bitcoin is $83k and it rise by %5 or %6 then you are making a profit of %5 from the $830 which could be $41.4 but if you trade with $83 you will likely make $4.1 in a %5 growth.