ULTIMATE CRYPTO TRADING GUIDE FOR BEGINNERS.
Every day, more and more people are showing great interests in cryptocurrency. Over the past few years, the cryptocurrency market has been increasing tremendously, not just in dollar value but also in adoptions by individuals, investors, institutions and Governments all over the world. Deeping your toes into the cryptocurrency market can be challenging as a newbie. Here are 10 significant cryptocurrency investment guides for beginners.
1. Cryptocurrency is a highly volatile market and pose a high risk of financial loss. Don’t invest money that is essential for your basic necessities and daily needs. Always trade with caution.⚠️
2. Cryptocurrency has the potential to double, triple even give up to 100X returns on your capital within short time frame, so learn more and make research to fully tap from this undiluted pool of wealth & Riches.💰
3. Control your emotions when trading, don’t panic when the market is unstable and don’t FOMO because you saw a green light✅. Buy and sell because you really want to and not because you’re afraid of the unknown.🤷🏻♂️
4. Bitcoin is the first cryptocurrency and the biggest by market cap which stands at over 40% of the total cryptocurrency market value. So Much depends on Bitcoin, so always put BTC into consideration when trading.👑
5. Always take profit, when you’re already up there, just take some profit as nothing goes up forever. You don’t have to empty your portfolio because you wanna take profits, just sell in portions, bit by bit so u don’t miss out again on potential upward movement.💹
6. Be careful and pay attention when sending crypto or making withdrawal to a particular wallet address, make sure the address is correct and you’re choosing the right network. Transactions are often irreversible and mistakes can lead to permanent financial loss, always confirm transaction on blockchain explorer.🔎
7. Today there are thousands of different cryptocurrencies and the crypto market is not short of scams, ponzis and rug pulls, every week, new crypto projects are being developed, be careful when investing, especially in ICOs and Private Sales. always do your own research and filter out a good project from the bad ones.🚫
8. Engage yourself in cryptocurrency communities on social media platforms and forums. Twitter, Discord, Telegram and Reddit are filled with abundant of discussions and informations you don’t want to miss out. You can join the largest crypto forum bitcointalk.org 📡
9. Never reveal your seed phrase or private keys to anyone you don’t trust as it can be used to access your crypto in your wallet. Always back up your seed phrase and private keys for all your custodial wallet, write down your seed phrase in paper/diary and keep it save, alternatively save them in multiple places both online and offline. Cloud storage are great choice.🔐
10. Lastly, Never underestimate the potentials of Airdrops and Bounties. A lot of people have earned thousands of dollars in free crypto currency by doing some simple task. Some airdrops gives each of their users/early adopters thousands of dollars worth of coin/tokens most notably is UNISWAP airdrop and 1inch and recently Dydx airdrop which gives up to $100,000 to a single wallet address and tens of thousands of dollars to several others. I personally have earned hundreds of dollars in free crypto from Airdrops.🤑
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