Guys, I heard that Binomo started working with cryptocurrency. I know it used to do more with binary options. Do you think it is worth the risk to work with Binomo? Maybe someone has experience in this matter?
I just found there is crypto paired on binomo. Doesn't mean it would be accepting cryptocurrencies as their deposit. We can just only deposit with Fiat money on there. There are lot of people claimed binomo is being manipulated, on first or few trades you might be win, but when you put bigger bet, you will lose it. There is no way to prove your history bet is provanly fair or not on binomo. Choice is yours As far as I've heard binomo is cheating, a lot of people have complained about it. especially with binary options, I think this is like gambling, with a short period of time as well. so from that you have to be careful, it is better to choose an exchange that is already trusted. but maybe because I don't like binary trading |
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That would not be so bad if those signals groups also helped you to develop your own strategy and helped you to learn more about the markets and how they function, however a great deal of those so called signal groups are in fact lying and are nothing but pump and dump groups in disguise, and this means that the owners of the group will invest in a coin that has no future and then tell their members to buy that coin and then sell for a high price scamming them in the process.
As a rule, beginners who cannot analyze the market themselves and have no trading experience are interested in such signals. They regard these signals as dogma, which they can earn a lot of money by doing. This belief passes very quickly, after the signal is given incorrectly and instead of making a profit, they lose their money. things that we often encounter for beginners. with great confidence in online analytics, they are not aware of the risks. therefore for beginners at least don't see the benefits that other people receive, so they want to get it like that too. even though we are beginners, we have to be good at studying risk and reward in cryptocurrencies, so that a sense of self-control grows |
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Currently I have $109,750 in Bitcoin and $60k in alts.
I'm thinking of getting a loan to buy more alts now and more as Bitcoin goes down. The loan would be from my family and interest free. If the value of my cryptos drop I'm willing and able to wait up to five years to break even.
However, I could use some opinions first. What do you guys think I should do?
You have a large amount of money dude. Actually, that amount of money here in my country is equivalent of millions here where I can able to have a brand new house and lot, vehicles and business own for sure. But I wonder why Loan? isn't much better to lend your family with your own family instead what you are planning? You don't need others opinion, you have the money and capable to do it. with that much money I think you can maximize the capital, but it's a different story if you want to get even more profit. but what do you borrow from a relative if you want no interest. I think it actually disturbs our psychology. we know in this business psychology is the most important thing |
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"If you are not up to learn to do it, just hold your coins."
It's just what it means, no secret to that because every holders are already profiting without even trading. Most of the traders are actually going to keep trying to accumulate BTC to make money. Someone said to me that if you are going to try leverage, do it on the minutes chart. Haven't tried but it probably would.
for bitcoin it may be safe if we hold it for a long time, but for other altcoins that are not in the top rankings it may be very dangerous if we hold it for a long time, because when the price pumps, it can be followed by a dump and eventually it will take a long time to grow, there is even the possibility of becoming a dead coin |
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depends for me if im investing in a new coin i dont hodl them for too long but if its in btc and top cryptos i dont mind hodling them for too long even if i already saw them pumping because i know that they can continue doing it for a longer time .
being greedy is not only when you hodl for too long but i feel that im greedy because i sold early on some of my coins thinking that i will lose .
right, for major coins, maybe we hold it longer, because it is safe. but for coins or tokens that are not at the top of the list, I also immediately sell when the price increases high, because after the pump, many events immediately dump and it seems difficult to reach the top price again |
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digital gold is good name for this one.
people work on crypto, exchange in bitcoin, hold or use it for need.
as far i know, people will make main mission like produce money, more and more. people will sell their digital asset if know its good. than will store some to the bank, and buy asset if the price down as much as he spend for the first time. so, making money from this is more beautifull than trading it with bitcoin.
I see that cryptocurrency is more dominant to make money. To meet daily needs, I think it is more effective when prices are at their peak, so we sell and exchange fiat to buy necessities. and I see it looks equally promising if we invest in this business, rather than waiting for the initial function to be created |
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buy coins that have good progress in the future, not because they have been around for a long time and will survive, of course the project can be replaced if it doesn't follow current developments.
It's better to buy coins that keep up with current market developments, like defi and nft you said.
Old coins will not necessarily have good development, and will not necessarily last. of course when we want to invest must choose coins that have potential later. it is very risky to choose old coins, especially after pumping and dumping, as if they are difficult to bounce back at their peak price |
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To be honest, I really do not see any solid reason why Ethereum should die. I mean it is the second best altcoin and it is the number 1 altcoin right? I know there is stiff competition from Binance, Cardano, and Polkadot among others, but it is still the most preferred by many. Though I do admit the fees are quite high right now, I believe that the developers are doing possibly their best for Ethereum to have the least fees possible. I am still going to vouch for Ethereum 1st, Binance 2nd.
Even though currently Binance seems to be going up, because one of the reasons is cheaper fees, but we know that ethereum is still firmly in second place after bitcoin. this is what I don't know why it can be said that ethereum will die. of course we don't know what strategy the developer will use, but I think with good faith this time, ethereum will still exist |
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it's true, buying meme coins or shitcoins this year is very profitable, but it's all based on luck I think,
and it's true that not everyone can benefit from shitcoin, so it's better to avoid it,
because shitcoin will make you poor and your money will be lose if you not a lucky person.
with a high level of risk, this can make us suddenly rich when investing in shitcoin, but investing in shitcoin is like gambling, we can lose capital, but can also bring double profits. I also do it, but only a little of the total capital is used for it |
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Your point is right. Which coin goes up it have to come down one day, not full but there will be little dump. We are seeing example right now, full market went up and came down. So I think we shouldn't be worried about it, because it's Crypto everything is possible here in Crypto.
The crypto market usually goes up and down and the price of cryptocurrency goes down as it does not take time to go up. The market is not stable and investors make more profit on the basis of ups and downs the right time is to sell the currency if the price goes up. For short-term traders, of course, the opportunity when the market goes up is used to sell it, especially when it makes a profit. because we also need to be vigilant in the event of a dump, because for me the current market conditions have not shown good behavior. Moreover, the news in China is not in favor of crypto |
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I don't think, I'm sure bro  he's shorting all the time, by that's not smart. Downgrading Bitcoin for environmental issues was a bad decision by him. Bitcoin will recover but everyone is now aware of his non - environmental friendly businesses. His presence is now unnoticed by the crypto community, this is what happens when you talk too much, you become invaluable and value less. I am having this believe that Elon musk tweet has to do more than what we were thinking otherwise I don't think a sane man would want to do something stupid that will bring down his investments. I know he's a billionaire but the ones I know still want to get richer. He's just somebody that is related to McAfee in altitude Elon’s presence is definitely NOT unnoticed by the crypto community. Here we all are still talking about the guy, he’s still very relevant to the conversation, just like he wants. McAfee is a straight greedy dude and he’s committed fraud to further his own fortunes. As much as I don’t like Elon, there’s definitely no comparison. McAfee has committed rape and murder and what, Elon tweets too much? Between McAfee and Ellon I think they have the same goal, which is to seek personal gain, and I think it's actually damaging the crypto market, now I think what he said doesn't have much effect on the crypto market, because many people already understand his nature. but at least they got the money like their original goal |
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in addition to investing in cryptocurrencies, I invest in forex which tends to have low volatility, with lower risk as well. I diversify the capital I have on both, with the hope that the capital on forex will grow although not as fast as in crypto trading, but it can give me a sense of security so that my psychology stays awake
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i am done , i become paranoid for every 1% movement , no matter spot or futures , just hold , that's it. u want to know reason why i am doing scalping ? of course , because i think probably scalping is the best way to find dialy income, but , nah.
but well? haha i know the answer, yeaahh the answer is scalping is a nightmare!, i have also scalped in the past, and i earned more than $500 in a few days, of course the next day you know the answer right? haha, yup my $500 is lost because I misanalyzed, and my capital is also -80% i just think (well probably i am wrong) scalping work if : 1. u have bots beside you 2. forex which it low voltality and have many many analist on it , because crypto its totally different from it, no matter TA and FA or whatever for example , some shitcoin will mainnet upgrade, sometimes its doesn't matter, it not always give a chance going high if market condition on bear time. indeed the term scalping we often hear in forex trading, using a small time frame. but I think this can also be used in cryptocurrencies, which in essence scalping is short-term trading, but because of the high volatility, scalping on cryptocurrencies will certainly be faster to end each transaction than forex trading |
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The whales are soon going to be unable to manipulate the market or they will find it hard to do so, the market keeps growing and the level at which it was in 2014 is not what it is now, it has reached a bigger level now.
Although we still some of them that have tried to manipulate the market as of recent, with some being influencers who tries to use their influence on their followers to gain control over the market. I am hoping that soon we will get pass that level where people will have any single chance to manipulate the market at all, and I hope the market will just move on its own.
In this case, whales can indeed move the market, but this is temporary. and I think they use the influence of their name to lead other traders psychologically so that they are in tune with their transactions, so that it will become a great force and eventually be able to move the market as they wish. So in conclusion, whales don't seem to be able to move on their own, they still need the strength of the community |
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As a trader, there is a lot of ups and downs in the market, you could loose all your capital in less than a minute with just a very little analytical mistake. The importance of living healthy cannot be overstated to reduce especially the risk of stroke, hypertension or a heart attack which are all long term effect of the accumulated stress gathered from constantly monitoring the market charts, sitting for long hours and increased palpitations and heightened blood flow, which are all situations that full time traders experience.
Always try to give yourself enough time to rest, exercise and maintain a healthy diet as well a social life. All this activities help reduce stress both mentally and physically.
That's why many experiences out there have ended up like that. Trading bitcoin is something that is very risky. However, if we are good at managing our time, money and habits, I think many people can avoid it. Learn to invest by not relying on money that is considered important, it must be cold money, and still you must have 50 percent of your capital, so that when the price is decreasing you can still buy and can benefit from it. so this minimizes your loss. So, learn to manage your money. True and what we should know before trading in cryptocurrencies is that the risk is big, besides that the price is very volatile so it is very difficult to predict, it is good advice because if we use important money to invest or trade it is certainly not the right decision Trading in cryptocurrencies does have to have a high level of psychology, because it has a big risk. therefore we must be able to master strategy, money management, and psychology. that way we can adjust the level of loss if the analysis does not go according to plan. After mastering it, I think we will be able to enjoy real trading |
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Well to be honest, it is really nerve-wrecking to see your investments decrease significantly in value especially when the value of bitcoin drops. This also depends on the amount of your invested capital, thus, the higher the amount you invested, the higher the increase/decrease on your investments depending on the value of bitcoin.
Unfortunately, emotions are one of those things that are difficult to control in situations like these. It really is a true testament of one's discipline and knowledge about the market. That is why, assessing your risk and knowing when to exit is a key factor in determining whether you should continue to HODL or to exit.
You are right, in fact it is very difficult to control emotions, sometimes because we do not know how to control emotions we can do everything the other way around, that is, if we enter the market and the position goes against us, it is best to exit quickly, only then would we be accepting a normal and not very big loss, but we always do the opposite, which is to have hope that the price will recover, then we lengthen the losses, and when we are winning we leave quickly with the profit because we think that the movement reaches there and not it will continue to grow more, and it almost always happens that the movement is much bigger still, so we cut the losses, all these errors are those that are produced thanks to the emotions. I think the only thing that cannot receive or feel emotions would be a bot, but bots also have their big flaws. I can say that psychology occupies 50% of the success of a trader, 30% for money management and 20% for technical analysis. From this picture, sometimes we give the biggest portion of technique by looking for various sources of technical learning. but it turns out that what determines the success of trading is within us |
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when trading for the first time of course we try all techniques. and what we need is to learn and continue to practice real trading. that way we will find the trading style we want. without experience I think it is impossible for a trader to become a professional trader
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if you really don't want to be tracked or verify kyc, we can use a trusted exchange where transactions carried by 2 btc don't require kyc, and we can use it with a time lag, so that every transaction is always below the predetermined limit
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Binance is currently the best crypto currency exchange in the world, and also backed with one of the best blockchains in the world which is binance smart chain, so am not really suprised that bnb is already trading above $100, even the current price is still low compared to what binance have achieved so far, if bull market some how continues, am expecting to see bnb trading above $1000 usd per coin before this year ends.
With the existence of the Binance smart chain, especially since it has affordable fees, more and more people are using it so they need this coin to transact, so it's no wonder that Binance's price is getting higher. this is inseparable from the exchange service itself. so remember when binance was hacked, he was fully responsible for his customer funds |
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at a time like this where the market is ranging we have not been able to analyze it more carefully. Judging from the trend, I think the trend is still up, but the correction this time attacked us a lot mentally, so we need to be calm in taking action. I don't hold many coins, only bnb, eth and btc, which I think is safer for the long term
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