The cryptocurrency industry is developing. Today it is not only about Bitcoin and Ethereum – there are dozens of promising assets underlying up-and-coming projects and platforms that have already received a wide application scope, for example, SOL (Solana), XRP (Ripple), DOT (Polkadot), SAND (the Sandbox), ADA (Cardano), etc. Today many new users strive to join the crypto market. They either invest in crypto in the long run, waiting until the market changes its direction or trade crypto coins. This article will offer a cryptocurrency guide on getting into cryptocurrency trading.
Tips On Crypto Trading
Here are some key things every trader should know:
- Be attentive when picking a product to invest in. Evaluate its prospects and check out its reputation.
- Invest no more than 10% of your monthly income. Do not borrow funds for investments; otherwise, the feeling of greed will guide you, causing wrong decisions.
- Pick a trading strategy and adhere to it.
- Use trading bots.
- Pick a reliable exchange and wallet for your crypto holdings.
- Diversify your investment portfolio – buy both popular expensive assets and cheap little-known coins.
- Start trading with small sums.
An Easy Way to Buy Cryptocurrency for Beginners
The simplest option to become a crypto owner is to register on one of the largest crypto exchanges, for example, WhiteBIT. It is an easy-to-handle platform that suits novice traders. In addition, it offers a standalone resource for educating and updating traders’ knowledge – the WhiteBIT blog. It includes a guide to cryptocurrency, popular coins, reviews and descriptions of newly added projects to the WhiteBIT platform, staking guides, quizzes and so on.
Here is a brief beginners guide to crypto trading:
- create an account and replenish it with coins you have got in your crypto wallet;
- go to the “Trade” block and pick coins you would like to buy;
- pay the transaction fee;
- receive coins to your account.
If you have not got any coins yet, you can use your bank card and purchase crypto with fiat currencies on WhiteBIT. The exchange’s interface is intuitive, so you will easily cope with it.