Starting crypto trading, the first stages to be successful

[Cryptostartup]

Hello! I am a beginner in crypto trading. Can you help me what is the first stage of taking part in crypto market?

[TopTort777]

Hello.

Try first comparing exchanges, their fees and trading pair. Select few coins and try to read and understand all the info about them. Only then you should try to buy something. Otherwise you are risking to but pumped coin or "freeze" your investments for a long time.

[BQ]

A new and user friendly exchange is in my signature if you are looking for an exchange, lowest fees available I tihnk.
or are you talking about specifically trading, and you already know how to buy crypto?

[harizen]

Hello! I am a beginner in crypto trading. Can you help me what is the first stage of taking part in crypto market?

Since you are beginner, the first thing to do is to add some knowledge first before engaging in actual trades. Quite a suicide if you will engage in actual trades without knowing even the basics. Your money is at risks here so better be prepared.

a) Study , Learning Basics , Familiarization etc.
b) Actual (starting from choosing an exchange > deposit > trade)

No need to literally pinpoint where you should start as it will be a spoonfed but you can use the power of the internet to search for some trading study resources.

It will take time. There's no shortcut. Goodluck.

[Sharon121212]

Welcome here. And there are some things you should get familiar with about the forum .
Firstly the rules:https://bitcointalk.org/index.php?topic=703657.0
Then the rank system: https://bitcointalk.org/index.php?topic=2818350.0
Then try going through this as well it's very helpful: https://bitcointalk.org/index.php?topic=1689727.0
 Also about knowing what is consider a quality post: https://bitcointalk.org/index.php?topic=2605767.0

Then about trading, you must have good idea about it before getting involved, don't be deceived it's not a fast way to make money project. Do a good reading and research
This book would kick start your learning process about trading.
1.Cryptocurrency trading and beginners guide by aimee vo
2.Bitcoin and cryptocurrency technologies by Keizer söze
3.Mastering bitcoin by Andreas m. Antonopoulos

You can still make use if the internet or enroll into a trading educating seminar online or offline.

But also be observant about scams in the cryptocurrency world

[Cryptostartup]

Wow, you have really inspired me, thanks. I will start from learning process. You are right.
Thanks for your help.
But what is about how can I start to make deposit. Do I need to creat some digital wallet? If so, where can I take it?


Since you are beginner, the first thing to do is to add some knowledge first before engaging in actual trades. Quite a suicide if you will engage in actual trades without knowing even the basics. Your money is at risks here so better be prepared.

a) Study , Learning Basics , Familiarization etc.
b) Actual (starting from choosing an exchange > deposit > trade)

No need to literally pinpoint where you should start as it will be a spoonfed but you can use the power of the internet to search for some trading study resources.

It will take time. There's no shortcut. Goodluck.
[/quote]

[mersal]

For holding bitcoins you need to create a wallet or can buy one called hardware wallet but as a beginner I suggest you to use Electrum for storing bitcoins.

Go to an exchange and buy bitcoin or just go to localbitcoin site and buy some then immediately move them to your wallet.

[DdmrDdmr]

<…>

Before you make a move, get a grasp of the basics. The forum has a lot of information and guides of all types (see [GUIDES] on Bitcointalk. Index thread (until there is a dedicated subforum?) , but to begin with, it may be easier to read something like https://bitcoin.org/en/, grasping the basics.

For trading, although it is forex based, I find that https://www.babypips.com/learn allows a well structured step by step procedure to picking up the fundamental concepts you’ll need.

Side note: You need to be careful how you quote. This is the third post I’ve seen in the past two days wrongly quoted (mixing you own text with the quoted text as a result). Since plagiarism is the number one cause for getting banned here, it’s better to make sure that your post is pristine in this sense, and that the quotes are properly placed to avoid unnecessary confusion.

[Awesomus Maximus]

But what is about how can I start to make deposit. Do I need to creat some digital wallet? If so, where can I take it?

First, you have to buy some bitcoins, obviously, if you are going to trade them. Then you are going to chose your trading pair, like for example BTC/USD. Next you are going to choose an exchange that has the chosen trading pair. When you sign up with that exchange, you will be given an address to make a bitcoin deposit. Then you will transfer the bitcoins you bought in the beginning to that address on the exhange. Once the funds are visible in the control pannel on the exhange, you are free to start trading.  

[Sharon121212]

You just made an error here mate. Am guessing you wanted to quote the other guy@harizen. When quoting after you must have pressed the quote button write your message underneath that quote in bracket at the bottom.

[jossiel]

Hello! I am a beginner in crypto trading.

Hi and welcome!

Can you help me what is the first stage of taking part in crypto market?

I suggest to look for the wallet of your choice first. We have that tutorial pinned on this section or go directly there: [General] Bitcoin Wallets - Which, what, why?

And when you're done, choose an exchange, coins/altcoins that you want to trade. Don't be afraid to fail from the beginning because you will learn a lot of things from that failure, it will be a worth it lesson for you though it may cost you some money.

And as a beginner, I looked for some crypto trading simulator that will help you to actually experience trading.
This what I have found: https://altcoinfantasy.com/
                                   https://coinmarketgame.com/

P.S I have no experience with these simulators.

[Velkro]

Hello! I am a beginner in crypto trading. Can you help me what is the first stage of taking part in crypto market?

Embrace the unpredictible.
There are so many factors that moves the market on one side or another that you cannnot comprehend it. If you can't u can't use even semi right decision.
Therefore its gambling which is vbad for almost any human beign.
Be careful what you do.

[traderethereum]

The first stage of taking part in the crypto market is learning as much lesson you can do and don't stop while you still have time to continue.
Try to visit on the exchange's website, make a new account for practising what you get in daily, deposit some amount but not too big, so you don't confuse to recover the losses if somehow you lose the money.
Keep doing over and over until you can analyze in a short time and you can get the right price to trade.

[anu1908]

And as a beginner, I looked for some crypto trading simulator that will help you to actually experience trading.
This what I have found: https://altcoinfantasy.com/
                                   https://coinmarketgame.com/

another option is to use bitsgap for this kind of purpose. you can open up a demo account with bitsgap and then trade there. if you're fine with a little coding, then try using zekko with its backtesting feature. you'll be able to trade or look at past chart history iirc. it should give you an additional way to understand when indicators give a false signal or good signal.

[angel55]

Remember that most people won't make money in trading and in order for you to win you are taking money from someone else.  So if you have morals you may want to consider doing more something productive from society that participating in a zero sum game.

[jossiel]

And as a beginner, I looked for some crypto trading simulator that will help you to actually experience trading.
This what I have found: https://altcoinfantasy.com/
                                   https://coinmarketgame.com/

another option is to use bitsgap for this kind of purpose. you can open up a demo account with bitsgap and then trade there. if you're fine with a little coding, then try using zekko with its backtesting feature. you'll be able to trade or look at past chart history iirc. it should give you an additional way to understand when indicators give a false signal or good signal.

Nice, I didn't know about bitsgap having a demo account. I visited their website and yes, they are offering a demo account, OP has now various choice on where he can try actual trading without actually depositing, losing and winning real crypto.

I guess I'll just add those websites, have you tried using those sites? I have no experience with these simulators.

• https://bitsgap.com/demo-trading/

Are you sure that's zekko? I can't search it on google.

[r1s2g3]

Wow, you have really inspired me, thanks. I will start from learning process. You are right.
Thanks for your help.
But what is about how can I start to make deposit. Do I need to creat some digital wallet? If so, where can I take it?

Creating a wallet on exchange or any third party site in which you do not control the private keys is not advisable at all.

First , you need to learn a bit about crypto currency so you can understand basic concepts. Users already shared the books and thread in previous post, so go through them once.

Even when you trade , it will be not advisable to leave your coins on exchange due to risk involved and make sure you choose your exchange wisely. (there are lot of scam exchange,coins,people..)

Be safe.

[Polyxchange]

Hello, Cryptostartup! The first stage can be reading the trading literature. Famous authors writing on this subject: Toni Turner, Bill M. Williams, Curtis Faith, Jack Schwager.

[BitsGap]

And as a beginner, I looked for some crypto trading simulator that will help you to actually experience trading.
This what I have found: https://altcoinfantasy.com/
                                   https://coinmarketgame.com/

another option is to use bitsgap for this kind of purpose. you can open up a demo account with bitsgap and then trade there. if you're fine with a little coding, then try using zekko with its backtesting feature. you'll be able to trade or look at past chart history iirc. it should give you an additional way to understand when indicators give a false signal or good signal.

Thank you for mentioning! Let me know if there are any questions about the demo or live trading in our official thread. Following the author's question, we have also prepared some educational material available in our official blog where you can find everything beginner trader needs to know. Here is the link for that.