What is the best way to start trading in cryptocurrency?

[rahulkohali79]

The crypto market cap is now about $300 billion with more than 1500 crypto coins. It comes as no surprise that more and more people worldwide are deciding to get into this industry and starting to invest in crypto:

Pick an exchange to trade on:

There are a number of popular crypto exchanges such as PCEX Member, Coinbase, Bitfinex, etc.

Find sources of information:
Cryptocurrencies are highly volatile assets so its important to have a reliable and genuine source of information reading the market charts and have knowledge about market information.

• Use technology to enhance productivity and reduce risks:

This essentially means using machine learning algorithms to analyze cryptocurrencies reducing risks from the portfolios.

• Choose a cryptocurrency wallet:

This essentially means having a wallet to constantly transact in cryptocurrencies back and forth. To get started you will need a mobile hot wallet connected to the internet. Almost all cryptocurrencies nowadays have their official wallet.

[piter23fer]

It is better to start trading on major exchanges and the most popular trading pairs, this will help you avoid high risks

[nicwenzel]

It is better to start trading on major exchanges and the most popular trading pairs, this will help you avoid high risks

Unfortunately, there is no real way to avoid risks, and there will always be risks.

[piter23fer]

It is better to start trading on major exchanges and the most popular trading pairs, this will help you avoid high risks

Unfortunately, there is no real way to avoid risks, and there will always be risks.

Do you think that all traders take the same risks? The answer is no. There are many mechanisms, but for me personally, trading bots and a specialist who set them up helped reduce the risks. https://tradingbot.info/trading-bots-for-binance [nofollow]   

[tonymillions84]

Some platforms offers demo account to start with. a good place for newbies to try their luck on trading and seees what best they can get. it is also a good place to learn how to trade. as a new trader,, it is advisable not to reciprocate what you practise on a demo account to a real account. you might loose your entire funds.

[Gurujebs]

Having knowledge about cryptocurrency is totally different from trading, hence its advisable for newbie to get a trading course. It can be acquire on Udemy as premium course and  lessons or even free on YouTube channels.

Every potential trader should also learn to detach from emotion at every trade otherwise, you will end up closing position at every market correction which is detrimental to your ROI.

Lastly, don't invest what you cannot afford to loose, crypto trading can make you a life fortune if you take it as full business and at the same time get rekt(loose all your funds).
In trading, fundamental and technical analysis go hand in hand, though be more of fundamental than been technical especially in alts coin.

[ranaprime]

According to my personal opinion I suggest everyone particularly those who are interested to trade cryptocurrency.
At first you should've to know which will be less risky because in Crypto currency market risk is common issue. It always appeared. You have to have the ability to overcome. Then you should select the trading pair due to avoid high risk. Very beginning of your trading you should trade very low volume and have to know ins and outs of that currency. These are the simple key points that should know before trade.

[edmundo]

I will suggest you take a lot of lessons and do a lot reading on trading materials. Get video courses like the abundant ones available on YouTube. A google search will also be helpful. Get to learn from the experts by learning from their experiences. Finally, you can try out walk through courses like the ones offered by ChangeNow on its NowAcademy platform. These will help refine you and give you a direction on where you are going and what's needed.

[Andruha1993]

I am a beginner trader. And I read your information here and it was very interesting and useful for me. Thank you very much.

[Octoalts]

Start trading Cryptocurrency by choosing top ranking coins such as Bitcoin and Ethereum, and other popular coins. By choosing a top ranked coin, our risk of losing will be smaller than if we choose a new coin that doesn't have a good price history.

[edmundo]

First identify what you want in terms of trading. That is, are you a short term trader or a long term one. What are you willing to risk in a particular trade, what are your profit targets and what strategy/strategies are you employing to trade. Once these questions are sorted convincingly, the next part become choosing the right assets and exchanges for your trading. Most traders tend to stick with the top currencies and top exchanges and as one who is only starting out, it is best to stick to this as well and gradually work your way to the other assets and exchanges. This is your best bet but please be informed that cryptocurrency trading carries risks and as such, you must only trade what you can afford to lose.