GdMail – Crypto has become quite a phenomenal thing in the investment world because it provides quite fantastic profits in a short time. Know various Tips Investation Crypto and How to Trade Cryptocurrency for beginners.
According to the book Crypto Science by Belvin Tannadi, cryptocurrency can be said to be a digital currency. Just like the dollar, rupiah, yen and others, in some countries already use crypto currency for payments and transfers to fellow crypto users.
Invest in exchangecryptohas various advantages, among which the opportunity to invest varies, even up to 100 percent, the assets owned can be managed independently, to transactions that are fast and open at any time.
For those who want to try to invest, you should choose one that already has a permit and is registered with the Commodity Futures Trading Regulatory Agency (BAPPEBTI). Read crypto investment tips safely and earn profits.
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Crypto Investment Tips
Before Plunging into The World of Digital Currency Trading, Here are Seven: Tips Safe Crypto Investment .
- Be selective in choosing an online broker by looking for a trusted and official site at BAPPEBTI and doing research to avoid fraud.
- Choose a small risk at the start of playing crypt investment.
- Choose to trade with a broker that allows a minimum deposit. For starters, the exchange allows a minimum deposit of $5-$10 and the amount per transaction is only $1.
- Choose assets that are traded in the form of stocks, indices, forex, commodities and cryptocurrencies.
- Choose the right date and time for expiration starting from short term in seconds and minutes, normal in hours, and long term in days.
- Choose the right time for buying and selling transactions in the capital market. Buy when the price is low and sell when the price is high in order to get a big profit.
- Learn to read the movement of candlestick charts in order to predict the price of crypt assets
How to Trade Crypto for Beginners
After knowing good and correct crypt investment tips , also consider an easy way to trade crypt that is suitable for beginners.
1. Create an Account with a Trusted Broker
For beginners who do not have an account, you can choose a trusted crypt broker or exchange . Then do the account registration according to the procedure above or follow the instructions.
2. Prepare Portfolio
Portfolio is the most important thing that a trader must fill in every transaction, especially crypt money trading. Traders will usually record all incoming or outgoing trade transactions every day whether they will make a profit or experience a loss.
The daily trading portfolio would be better if only taking 1% of the cryptocurrency assets owned and converting it into multiples (2-10%) to get a larger percentage.
3. Use Paper Trading
If you want to try day traders, you should use fake money or paper trading . It is intended that traders can analyze transactions and develop strategies before engaging in actual day trading. In other words, it is best to start day trading with a demo account or paper trading.
4. Analysis with Risk Meter
Analyze the chart first before trading to maximize analysis and profit. The Risk Meter shows an analysis of bitcoin’s risk of trading prices. The analysis is carried out by calculating the logarithm in a certain time cycle.
Usually the analysis metrics will show blue for buying and red indicating the exact time change when selling the asset.
5. Choose the Best Crypto Asset
Day trading is best done on coins with high volatility and liquidity, such as bitcoin. The reason is, the selection of top-ranked crypt is considered more profitable. Despite the high risk, crypt prices can go up as fast as they go down.
6. Planning and Discipline
The key to successful trading is risk management so a trader must have good and careful planning. Therefore, don’t be lazy and always be disciplined to record every transaction in the portfolio.
7. Monitor Crypto Price Movements
Once you have an account and buy a certain amount of value, be diligent in monitoring crypt price fluctuations .
