Post
Topic
Board Nigeria (Naija)
Re: As a newbie to crypto currency
by
Sonia_123
on 01/06/2025, 23:58:23 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.
As a newbie permit me to say it is not adviceable to start with trading at all because of the high risk involved, mainly with those newbies that does not have any idea of trading at all, that is just new to Bitcoin, instead I would prefer that after a while of proper study, should start with Bitcoin investment because it is less risky compare to trading and should adopt the DCA strategy to buy their Bitcoin, accumulate, and hodl it when they want to invest for a long-term, and long-term investment is adviceable because it does not affect you or your expenses as long as you have a steady income and a discretionary fund to backup your investment plan.