Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: siththari on November 08, 2018, 07:37:25 AM
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Choose wallet for crypto. For starters, you need to choose and set up a cryptocurrency wallet and pick an exchange to trade on
Choose the place for exchange
Diversify your portfolio
Take time for research
Buy by fractions and keep balance
Check local regulation
Don't invest your last money
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Good post. Welcome to altcoinstalks forum. I would assume you already read the forum rules? or you just posted right after registration?
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I wish it was as simple as stated. Anyway good post and welcome
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Looks simple and easy to do on paper but the reality is a different thing altogether.
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Thank you for the information. If you're not patient and you think you can do panyl sales. Please don't trade. Because you're damaging. Choose volumetric and firm altcoin when determining porfoy. be sure to include stop-loss.
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the important thing is to do research first so that we don't experience big losses if it happens and we also don't invest our last money because it is very detrimental and will make the market worse if it is going down because we will follow that pattern
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for me, using the Myetherwallet wallet.
I also use a blockchain wallet, the point is if you want to save our bitcoin and other coins that use a private key that you can use yourself and only we can store the private key, ..
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First of all, before you start trading you need to mentally prepare for this, and increase your knowledge base. Moral training is needed not to lose your money in a short time.
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If the times come into trading I think we need to start is to learned about trading in cryptocurrency because this is very important when money can be related of this .
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before you start trading you need to mentally prepare for this, and increase your knowledge base. Moral training is needed not to lose your money in a short time.
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I fully agree that you do not need to invest your last money. For me, a painful case, I have already made such mistakes
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The biggest problem for me was investing money. I could not afford to invest a large amount, and I had no idea how to do it at all.
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The first thing I would advice anyone that wants to go into trading is to never invest money you cannot avoid to loose. When trading you don't need to be greedy..
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Choose wallet for crypto. For starters, you need to choose and set up a cryptocurrency wallet and pick an exchange to trade on
Choose the place for exchange
Diversify your portfolio
Take time for research
Buy by fractions and keep balance
Check local regulation
Don't invest your last money
No. The best way to start crypto trading is by learning.
I mean you gotta learn the trading basic from beginning to the end.
Don't just jump into trading because you have some money to spend.
Trading crypto is not easy and you definitely need some trading knowledge to survive it.
You gonna need some books to read and training videos - I suggest you get the premium, forget about all the free ones.
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If you don't spend time to learn, watch and ask questions about trading, you could end up losing everything you placed as investment. Writing out the steps to take before starting up trading in crypto currencies is far different from the normal day to day trading in the real world. Also note that Patient is a very useful factor of trading.
Welcome to altcoinstalks forum. Try to get yourself acquainted with the rules of the forum. Enjoy your stay.
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You need to pick a few dollars and a good exchange to trade in cryptocurrency. Then if you know the signal there then you can start trading.
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If you want to start cryptocurrency trading, you must first start trading with some capital in hand. But you must know the signals to trade. If you do not know the signal, you will never be able to profit by trading.
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To start trading in cryptocurrency, you must first take several steps. Do not start trading in cryptocurrency as a new boy. You need more than luck to succeed in affiliate business. Pick any one of the exchanges and then you go there and trade. You will decide on your coin signal which coin you will train on.
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before you start trading you need to mentally prepare for this, and increase your knowledge base. Moral training is needed not to lose your money in a short time.
That is right mate. We need to prepare ourselve. Specially it is a Cryptocurrency world.
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Trading in cryptocurrency in a new way requires a lot of knowledge. However, if you start trading through different strategies, then you will need so much knowledge.
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Take some dollers deposit in cryptocurrency exchanges and choose any coins and trade as your own Risk.
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Take some dollers deposit in cryptocurrency exchanges and choose any coins and trade as your own Risk.
I think cryptocurrency is a very good decision. In a very short time you can get a good profit through this training. Of course this trading is about profit loss. You have to train with risk. Thank you.
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To start trading in cryptocurrency, you need to know a lot about trading. If you do not have good knowledge about trading then you will not be able to profit by trading. To trade you need to pick an exchange and start trading with dollars there.
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I think the first thing to do to start trading is to gain detailed knowledge about trading. Because what you're about to do is no boy's game. As much as one can benefit from it, on the contrary, many people are badly damaged. Now if you are trading in the wrong coin then there is a high probability that you will end up losing money on your capital as opposed to making more profit than your capital and you may end up financially damaged. Gain proper knowledge about trades to be alert in advance and trade in future.
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Before starting crypto currency trading you need to get a rough idea about trading. Understanding about different coins as well as choosing the right coin for trading are the basic steps of trading. When we have a rough idea about different coins and a good idea about trading then we will plan the next step of trading trading. With proper planning, when we want to start trading with our available capital, before that we must observe the market and then purchase any one of the coins. After buying a coin by observing the market we have to fix certain target at what profit we will sell our investment. If all this can be done according to the plan, then surely a new trader will have a good start in trading.
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Before starting crypto currency trading you need to get a rough idea about trading. Understanding about different coins as well as choosing the right coin for trading are the basic steps of trading. When we have a rough idea about different coins and a good idea about trading then we will plan the next step of trading trading. With proper planning, when we want to start trading with our available capital, before that we must observe the market and then purchase any one of the coins. After buying a coin by observing the market we have to fix certain target at what profit we will sell our investment. If all this can be done according to the plan, then surely a new trader will have a good start in trading.
Yes, what the OP gave is not specific to crypto trading. Because trading is more complex and also riskier. It's not just a matter of buying and selling. but also about the analysis of certain coins that we will trade, whether in spot or Future, both in Short/Long positions. Because in trading, there are several analyzes that must be carried out, not only fundamentally, such as when we are making an investment, but also technical analysis on every movement of the indicators. And it's quite complicated.
If we are new, then at least we learn to read charts, each candle, its movement, the possibility of short/long positions, and several other complex things. And indeed, in trading, risk management and also the funds we have for trading are very important.
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If we are new, then at least we learn to read charts, each candle, its movement, the possibility of short/long positions, and several other complex things. And indeed, in trading, risk management and also the funds we have for trading are very important.
And to be able to do that, those who are really willing to learn how to trade need to spend enough time learning by enrolling in online courses or searching for a tutorial online. There are free tutorials that they can use, to sum up all of the learnings they get from different videos, learning different ways or techniques on what they need to do in different scenarios and movements of candles in the chart.
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Learning how to start cryptocurrency is not what we can just say with mouth and think that's all that is needed, we need to put all hands on desk for learning about this digital network and if we don't know about it, we cannot do anything, and when we have no idea about it, we shouldn't do it or go for it, it takes time to learn and we can always start with the demo account in the practical aspect while reading through the internet to learn from others.
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It's not as easy as you wrote it down, to start crypto trading, one key thing that is required of you is consistency...
If you're consistent in doing it and also learning and acquiring more knowledge about it, then definitely you will improve...
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It's not as easy as you wrote it down, to start crypto trading, one key thing that is required of you is consistency...
If you're consistent in doing it and also learning and acquiring more knowledge about it, then definitely you will improve...
I agree with you, however I cannot declare that his statement is incorrect. We have to spend a significant amount of time to trading since we cannot claim to be profitable in the long run unless we have an edge. Having an edge cannot be obtained in a single day. Many traders have already lost a lot of money because they believe that trading is easy because they profited on their first deal. However, in fact, it is difficult and unpleasant in the beginning, but with a positive attitude and discipline, you can conquer this challenge. The main reason traders fail is that they are focused on profits.
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Choose wallet for crypto. For starters, you need to choose and set up a cryptocurrency wallet and pick an exchange to trade on
Choose the place for exchange
Diversify your portfolio
Take time for research
Buy by fractions and keep balance
Check local regulation
Don't invest your last money
I hope you are aware that there is a difference between crypto trading and crypto investment. What you are describing is crypto investment (buying the dip) and not trading. Trading has to do with short-term buying and selling of coins with respect to the volatility of that coin with the aim of making profit, while investing has to do with buying a coin like Bitcoin, in fractions or in whole depending on your cash flow, then holding the coin for a long time until the bull run starts.
While trading or investing, it is usually right to choose a reputable and more popular exchange that is used by many people. Also, a Bitcoin holder must be wise to choose good wallets like Electrum, Exodus, Blue, or hardware wallets.
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I hope you are aware that there is a difference between crypto trading and crypto investment. What you are describing is crypto investment (buying the dip) and not trading. Trading has to do with short-term buying and selling of coins with respect to the volatility of that coin with the aim of making profit, while investing has to do with buying a coin like Bitcoin, in fractions or in whole depending on your cash flow, then holding the coin for a long time until the bull run starts.
While trading or investing, it is usually right to choose a reputable and more popular exchange that is used by many people. Also, a Bitcoin holder must be wise to choose good wallets like Electrum, Exodus, Blue, or hardware wallets.
Unfortunately, most people probably think the same.
In fact, what is quite important to consider when investing in crypto is our ability to analyze. Analyze well what coins will be taken, how long, and what strategy should be taken.
If it is for investment, then we should be able to analyze what crypto is able to survive for the long term, not just for short-term hype. The most concrete example is BTC for long term. This is beyond doubt.
but the problem is, many beginners actually make the wrong move at the start of their investment, namely they tend to prefer projects or coins that are currently hyped and heavily promoted, especially by influencers. This is something you must pay attention to, especially for beginners.
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but the problem is, many beginners actually make the wrong move at the start of their investment, namely they tend to prefer projects or coins that are currently hyped and heavily promoted, especially by influencers. This is something you must pay attention to, especially for beginners.
If a beginner follows it from the beginning before its release to the market, he may get a big profit, but this is very risky.
Many new projects only end in Rug pull and only benefit the creator.
Startups are more tempted by such new projects, with high hype and profits that will look high,
but they don't know they will get stuck on Rug pull projects.
Beginners really have to learn and not just have coins to invest in.
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If a beginner follows it from the beginning before its release to the market, he may get a big profit, but this is very risky.
Many new projects only end in Rug pull and only benefit the creator.
Startups are more tempted by such new projects, with high hype and profits that will look high,
but they don't know they will get stuck on Rug pull projects.
Beginners really have to learn and not just have coins to invest in.
I think the risks involved in a new project are normal and what you have to understand is not to be too greedy in getting into altcoins so that you will remain alert because you already know the risks that have the potential to harm you.
I am more interested in newly created blockchain projects so that I can find out how much cryptocurrency technology has developed.
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I think the risks involved in a new project are normal and what you have to understand is not to be too greedy in getting into altcoins so that you will remain alert because you already know the risks that have the potential to harm you.
I am more interested in newly created blockchain projects so that I can find out how much cryptocurrency technology has developed.
Newly created blockchain projects are very risky. Yes, these projects are related to new technologies, but there are a lot of scammers in this area.
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For a beginner to Invest on the crypto investment, he/she would primarily have to be educated on what crypto is all about, how the industry works and how the market is regulated.
He/she must be foremost be aware about the volatility potentials of the crypto currency and then choose a suitable crypto currency to Invest on through research and enquires also as choosing a wild strong detailed and reliable wallet for your coins storage, take a decision if you were running on a long term or a short term investment goal because that would determine how regular and often you are demanded to keep eyes up to the markets movements to decide on your faith at the markets value on when to sell off or if would keep on hodling.
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I think the risks involved in a new project are normal and what you have to understand is not to be too greedy in getting into altcoins so that you will remain alert because you already know the risks that have the potential to harm you.
I am more interested in newly created blockchain projects so that I can find out how much cryptocurrency technology has developed.
Newly created blockchain projects are very risky. Yes, these projects are related to new technologies, but there are a lot of scammers in this area.
In any kind of investment, scammers can be found. This is why it is our own responsibility as an investor to investigate and research whether the project is worth our investment or should not be considered to invest. Besides, how can we have newly created projects to be successful and add to the development of blockchain projects if there will be no one to support the new projects by investing in them? It's just a matter of how you will determine the scam project and the legitimate one.
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I think the risks involved in a new project are normal and what you have to understand is not to be too greedy in getting into altcoins so that you will remain alert because you already know the risks that have the potential to harm you.
I am more interested in newly created blockchain projects so that I can find out how much cryptocurrency technology has developed.
Newly created blockchain projects are very risky. Yes, these projects are related to new technologies, but there are a lot of scammers in this area.
In any kind of investment, scammers can be found. This is why it is our own responsibility as an investor to investigate and research whether the project is worth our investment or should not be considered to invest. Besides, how can we have newly created projects to be successful and add to the development of blockchain projects if there will be no one to support the new projects by investing in them? It's just a matter of how you will determine the scam project and the legitimate one.
You're right, alot of investors have poor researching habit, they are too lazy to do some proper researching before investing in any new release token . Because most new token are just there for pump and dump scheme. And one may fall as victim due to having poor researching habit , so we should be careful and be mindful with the kind of project we put our money into , to avoid falling as victim of investing on the wrong project
It's not as easy as you wrote it down, to start crypto trading, one key thing that is required of you is consistency...
If you're consistent in doing it and also learning and acquiring more knowledge about it, then definitely you will improve...
you are correct another important thing is that one need to have good self control ( to manage their emotions ) because emotions like greed and fear usually cause alot of losses . For instance a daily trader was making a good profit from his day trading , then he decided that he wanna close for that day but a thought came to him that he should trade one more time to round things up , (because he as been in good profit). So he decided to let greed to get the best of him and he decided to with (trading one more time ) doing so market didn't go his way and endup losing most of his profits of that day . Such person would be in pain, then another greedy emotions will kick in , wanting him to trade to get back all he as loss that day . Then he decided to trade again using big leverages to make extra profit. But at the end he endup losing everything that same day . That why we should always have good principles and good emotional management.
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You're right, alot of investors have poor researching habit, they are too lazy to do some proper researching before investing in any new release token . Because most new token are just there for pump and dump scheme. And one may fall as victim due to having poor researching habit , so we should be careful and be mindful with the kind of project we put our money into , to avoid falling as victim of investing on the wrong project
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Especially now that many new projects are hype such as Solana memecoins that are in the limelight at this time.
Look at $BOME now, it will soon be listed on Binance and this will create a huge volume.
Research is important, but taking advantage of this hype situation before listing on Binance might be an opportunity to get in early and exit faster with profits, but it comes with big risks.
There are many new projects that are quite successful, especially if you follow them while on the testnet or still quite new.
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Especially now that many new projects are hype such as Solana memecoins that are in the limelight at this time.
Look at $BOME now, it will soon be listed on Binance and this will create a huge volume.
Research is important, but taking advantage of this hype situation before listing on Binance might be an opportunity to get in early and exit faster with profits, but it comes with big risks.
There are many new projects that are quite successful, especially if you follow them while on the testnet or still quite new.
Currently $BOME has entered the Binance exchange, they realize that to enter the Binance exchange you only need money, even though it is very expensive to enter the Binance pair list, it will be easy when you see the trading volume on $BOME.
At least participating like this does have a very high risk, but when you see a very cheap presale, at least participating with a small capital of $50 is enough to enter and contribute in the hope of making a lot of profit.
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I think the risks involved in a new project are normal and what you have to understand is not to be too greedy in getting into altcoins so that you will remain alert because you already know the risks that have the potential to harm you.
I am more interested in newly created blockchain projects so that I can find out how much cryptocurrency technology has developed.
Newly created blockchain projects are very risky. Yes, these projects are related to new technologies, but there are a lot of scammers in this area.
In any kind of investment, scammers can be found. This is why it is our own responsibility as an investor to investigate and research whether the project is worth our investment or should not be considered to invest. Besides, how can we have newly created projects to be successful and add to the development of blockchain projects if there will be no one to support the new projects by investing in them? It's just a matter of how you will determine the scam project and the legitimate one.
You're right, alot of investors have poor researching habit, they are too lazy to do some proper researching before investing in any new release token . Because most new token are just there for pump and dump scheme. And one may fall as victim due to having poor researching habit , so we should be careful and be mindful with the kind of project we put our money into , to avoid falling as victim of investing on the wrong project
And what's disappointing about their way of researching is they only look for a reputable person (an influencer, an artist, or someone who's famous) who supports the project. Even if that specific person does not have any idea about crypto projects, most likely they just recently got into cryptocurrency as a supporter/investor of that project.
If they find one, they will immediately think of it as a legitimate project and will consider investing right after it. We should know that this is not some kind of proper research, it's just the same as riding the wave of investors who don't bother where they will go with their investment.
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And what's disappointing about their way of researching is they only look for a reputable person (an influencer, an artist, or someone who's famous) who supports the project. Even if that specific person does not have any idea about crypto projects, most likely they just recently got into cryptocurrency as a supporter/investor of that project.
If they find one, they will immediately think of it as a legitimate project and will consider investing right after it. We should know that this is not some kind of proper research, it's just the same as riding the wave of investors who don't bother where they will go with their investment.
А reputable person must be well-known in the cryptocurrency sphere, then perhaps we can trust him, but this is not certain either))) it is better to trade an already known cryptocurrency in terms of risks
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You can start cryptocurrency trading by do research, collect ideas from others, and the most important is you're willing to risk.
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Choose wallet for crypto. For starters, you need to choose and set up a cryptocurrency wallet and pick an exchange to trade on
Choose the place for exchange
Diversify your portfolio
Take time for research
Buy by fractions and keep balance
Check local regulation
Don't invest your last money
For any newbie interested on starting cryptocurrency trading, its important that we learn on the way it occurs first before doing the real investment into trading, some will start by creating a demo trading account and learn, some may really have to go through some training from the experienced ones and some may have to dedicate much of their time in learning by theirself on how to read the signals and start trading with small amount.