Crypto trading is the world’s newest and most promising form of online trading.
One of crypto’s main advantages is that cryptocurrencies are available worldwide, making them accessible to everybody. One only needs an internet connection to get started.
Another advantage of crypto trading is that people who aren’t able to invest with cash can “mine” crypto, which involves creating new units of cryptocurrency.
If crypto trading sounds like something that you would be interested in, then you need to take the time to do your research. Here are a few tips to help you on your journey toward becoming a crypto trader:
Referrals
If you’re new to crypto and don’t have much money to invest, you could get started with referral bonuses, which allow you to save money on fees and other things.
A platform that offers the best bonuses is Binance.
One can receive a Binance referral from anybody that uses the platform, be they a friend or stranger.
There are many websites that offer referral codes, which makes the whole referral process much easier. You could also ask a friend to register an account just to refer you, though this is unethical.
Security
If you’re new to crypto, then you need to understand one thing: Crypto trading can be very risky if one doesn’t take one’s digital security seriously.
Crypto hackers are everywhere online, constantly searching for new marks.
If you don’t go to great lengths to protect your crypto investments, you could find yourself on their list.
A good way to avoid hackers is, after you buy Dogecoin, Bitcoin or any other type of crypto, to store it in an offline wallet, use unique passwords, and be very careful about what you do online.
If you download random files and open strange emails, you could give hackers access to your device.
Currencies
There are literally thousands of cryptocurrencies, from the major players like Bitcoin to the smaller currencies like safuu.
If you don’t take the time to do your research into which currencies are the best investments, you could end up wasting your money. In addition, you need to look out for alt currencies and pump ‘n’ dumps.
While alt currencies can turn out to be very profitable (like Doge, for example), they can also be a very effective way of bankrupting yourself.
Alt currencies are usually used in pump ‘n’ dump schemes.
Take time to study currencies and analyze graphs, so you can determine whether a currency is being artificially inflated.
Platform
You need to choose a platform carefully. Some simply aren’t worth your time. The perfect platform should have a fast deposit and withdrawal times, a variety of different currencies, and robust security. In addition, the perfect platform should also have around-the-clock customer service and tech support. Tech support comes in very handy, particularly if you are new to crypto trading because you are bound to make mistakes.
As mentioned earlier, be sure to also consider the bonuses offered by platforms. Make sure to also read reviews. There are reviews available for more or less every crypto platform online.
We had also reviewed one that’s garnered a lot of attention in the last couple of months – Moonpay, so make sure you read is Moonpay safe and legit to use.
If you’re planning to buy Bitcoin, Ethereum or any cryptocurrencies, consider the tips that are listed in this article.
Crypto trading is an incredibly simple way of making money, but there’s a lot of research one must do beforehand. Crypto trading is an incredibly simple way of making money, but there’s a lot of research one must do beforehand. You could consider enrolling in a course, in addition to reading articles like this.