What you should need to consider before trading cryptocurrencies?

[Sadlife]

First of all, you need to understand how crypto and blockchain work. You also need to understand that these are still high risks.

Everything feels risky during a recession. A lot of people might be drawn to btc now as it hasn't crashed as bad as the rest of the stock market is starting to (or some even haven't recovered yet)...

But I still consider bitcoin a lot more risky than other assets.

Bitcoin is more safer asset as of today, with the banks printing trillions daily its only a matter of time until the imminent hyperinflation.
That's why big companies such as grayscale, micro strategy, fidelity, goldman sach is moving their wealth into Crypto because its safer store of value. Trading it will be more profitable considering a lot of demand coming from institutional investors.

[1715142032]

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[1715142032]

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[verita1]

I totally agree with the previous comment. ⬆️ @Yamifoud
I would add that when you are ready to trade crypto the fees are important. We must try to reduce the payment of fees so that it does not affect our profits.
Generally, exchange platforms have incentives for traders, events and bonuses where they can earn more. For which it is appropriate to be attentive on these exchange platforms and take advantage of these prizes.
Another way to earn is on P2P platforms always check if you can buy crypto at a good price.

[Walterhank]

That's the problem we have been seen in today's time. People are eager to invest all their precious savings without much proper knowledge which backfires on them.

[Shallow]

I think the first thing to consider as well as understand before trading cryptocurrencies is the risks involved. Most people join crypto because of what they have heard so far,  hence joining without first knowing that the crypto space is volatile, and once their goals isn't met they will likely join the bandwagon to call is various names. So I believe, understanding the risk is a good way to start and with that, one can proceed further to know more about trading. Another vital point to take note of is, trading what you can afford not all your savings or loans, but the money you feel you are okay with; this will save you a lot of stress and heartaches.

[Lorence.xD]

That's the problem we have been seen in today's time. People are eager to invest all their precious savings without much proper knowledge which backfires on them.

Assumption that everyone invests everything they have is not that likely, maybe it happens because news coverage around the world covers stories about this but I think that they are only a small percentage of the population, remember Bitconnect and OneCoin, that is some of the examples. I think the real problem is not knowledge but lack of mentorship and lone wolf attitude, without mentors, you will be navigating the investing path blind and being lone wolf is bad thing because you do not have information that might come from others that may help you in the future.

[maxreish]

I manage to read the article OP has provided. I couldn't disagree with all of those reminders but just only one thing that is vague for me. We are talking about trading bitcoin here. Thus, is vague to understand why the article are reminding readers not to invest more? Investing and trading are two different things.

When we  gain profits from trading, it's because we do a good trading plan and make a good use of TA, FA and stop loss right usage. Investing is another field thus making some profits, too.

And remember, trading takes time to learn. Tools, experience and confidence are really significant for a better trading.

[peter0425]

Learning about trading with cryptocurrency is good and also everyone is interested to learn about it. You can get started this process without money, but once you get more than one wins under your belt it is very easy to dump money into the investments recklessly. Of course, making more money with crypto trading is easy and also it is very important to be careful. If you are new to crypto trading, this article will give tips before starting your trading.

To Know More, Visit Here <> Steps to Check Before Trading Cryptocurrencies

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[AniviaBtc]

...
But I still consider bitcoin a lot more risky than other assets.

Yes, it is risky, but it also brings higher yields. Besides, what's life without a few risks?

OP, there are numerous online sources where beginners can inform themselves about the basics of trading. I would definitely recommend learning the basics of technical analysis. But real knowledge will only come with experience, so you need to roll up your sleeves and get to work. No pain, no gain!

It is really worth it to own bitcoin as an asset and trading it in the market can be good depending on your trading skills.

You're right that technical analysis is important when you trade so that you have a signal when to trade depending on the proper season or right price of bitcoin.

If you made mistakes at your first trading journey, keep your heads up and learn from your mistakes. Trading is about learning how to make your money grow effectively so that you can make bitcoin much profitable for you. I know that some people think that trading is easy but try so that you know how it really works.

[Iceblast]

for me the most important thing is the potential of the coin and the price.
This is the most important thing for you because the price can adjust how much capital we have and the potential for coins also has an effect. because we can see if the potential for a good coin will not make a loss even though we have to buy at high or low prices.
besides that, maybe the volume factor also needs to be considered and where the exchange token is traded

[newwest]

for me the most important thing is the potential of the coin and the price.
This is the most important thing for you because the price can adjust how much capital we have and the potential for coins also has an effect. because we can see if the potential for a good coin will not make a loss even though we have to buy at high or low prices.
besides that, maybe the volume factor also needs to be considered and where the exchange token is traded

Those who can afford to take risk and have extra money should only trade with crypto because for any beginners it is very easy to lose entire money. Always learn first, gain knowledge and trade with best of the coins initially and if require should be able to hold if entered at wrong time and market falls then may take some time to recover. So, should be ready to book losses or hold till you recover the loss.

[pankowri]

There is so abundant to consider. Cryptocurrency trading is a reasonable aspect. But you have to be prudent or you have to fall into the hands of scams. The fundamental purpose of trading is to formulate a profit. With that in the psyche, you have to stride forward with a lot of considerations in mind. The massive entity is that if there is a loss, you have to accept it and proceed to trade and this will improve the experience.

[Yatsan]

Newbies tend to say and perceive that doing trading is just easy as it looks like it is a fast earning process that is why many people are getting interested on doing trading but many are failing for they have underestimated trading and perceive it as an easy process that you can just gradually earn profit by some sort of clicks here and there. Well, that is just normal but newbies must know the reality that trading is a risky process to take and it is not just as simple as you think it is. You can be easily fooled and deceived of you will think of it as a piece of cake that you can just easily manage. Well maybe for well experienced trader it can already be easy but coming from a newbie, then you are stating it to be new which can be misleading for other newbie to start with and that can result to lots of failure along the process for they did not expect circumstances to come along the way of doing trades. Trading is a risk to take and failures are always expected if you will not take it seriously and without having prior knowledge about it.

[dimonstration]

I think the first thing to consider as well as understand before trading cryptocurrencies is the risks involved. Most people join crypto because of what they have heard so far,  hence joining without first knowing that the crypto space is volatile, and once their goals isn't met they will likely join the bandwagon to call is various names. So I believe, understanding the risk is a good way to start and with that, one can proceed further to know more about trading. Another vital point to take note of is, trading what you can afford not all your savings or loans, but the money you feel you are okay with; this will save you a lot of stress and heartaches.

Knowing what job we enter will make us realize the need to study and put more effort in making it works. The market is too volatile that requires us to be extra careful in what coin to buy and when we should do the trade. As much as possible we should allow ourselves to improve by having effort to learn some trading skills. Others just think it's easy but once they really doing it and using it to make a living, it's quite stressful if there is no gain. So being able to set goals and try to learn more each day will help us alot.

[bayu7adi]

As a crypto enthusiast, I would suggest Koin Bazar, because this platform is a very well established one to perform your crypto trading with more secure, and trustworthy.

In the article you wrote, you recommended Koinbazar, which I myself do not really understand about the exchange. Which is natural considering that you seem to be Indian.  Actually for the selection of exchanges is to adjust the taste of the users As a person from SEA, I certainly prefer INDODAX and Binance because they are more friendly and also have undoubted quality.
Koinbazar is good for Indians but not necessarily the best choice for people in other countries, we can choose Binance as the best exchanger for international scale. And if you prefer not to deal with Centralized Exchange, then DEX can be a safe choice for your transactions as a trader.

[Twentyonepaylots]

One shpuld always take into account that online crypto trading is as risky as regular trading, if not more risky. It is easy to be fooled by cryptocurrency when you're seeing your friends earning high profits in this industry, but make no mistake, those profits would cost you time, effort, and sometimes money too to get good at it. So trade at your own risk, and read books that will help you gain better knowledge at this craft.

[dizzy1996]

Any trading in assets implies risks that will be in any case, since there are no ideal transactions and there is always an option that you will lose everything, so one of the main rules when investing in cryptocurrency is a one-time investment should not exceed 5% of your capital as it is extremely risky for everyone. unreasonable

[taufik0911]

the most important thing is your mental preparation, if you want to be rich then you need to prepare to be poor first
after that is the management of emotions because of this factor that many people lose because they cannot hold back their emotions to get rich from trading in a short time

[chikading2016]

Trading is not a easy task so there are so many things that  need to considered first before doing trading. Before we do trading we need to research first on how to be succesful on trading we need to self study and discipline beause scammers are everywhere.

[taufik123]

These are the thing that we need to consider, IMO...

* Price (start trading when the market is not bullish)
* trading platform ( must have to use reputable and high volume exchanger)
* Capital ( please keep in mind that more capital, more gains)
* Self-preparedness ( knowledge, skill, and strategies)

Everything must be secured first prior to start trading otherwise, you only suffered losses. If are not prepared yet, better not to push ourselves because this is not just an easy task and probably, not an easy money scheme, we need to work on it in order to achieve what we aim for.

Many people who are trading for the first time miss this preparedness. They have not learned basic knowledge about trading techniques, so losses will continue to occur. They will only learn from the experience of losing trades. Beginners usually don't have a definite strategy and goals to achieve. The more capital, the more they will lose if they are not ready to trade. Basic knowledge is very important and learning Technical analysis and Fundamentals is a requirement that must be done, although not so specific.

[bitzizzix]

These are the thing that we need to consider, IMO...

* Price (start trading when the market is not bullish)
* trading platform ( must have to use reputable and high volume exchanger)
* Capital ( please keep in mind that more capital, more gains)
* Self-preparedness ( knowledge, skill, and strategies)

Everything must be secured first prior to start trading otherwise, you only suffered losses. If are not prepared yet, better not to push ourselves because this is not just an easy task and probably, not an easy money scheme, we need to work on it in order to achieve what we aim for.

Many people who are trading for the first time miss this preparedness. They have not learned basic knowledge about trading techniques, so losses will continue to occur. They will only learn from the experience of losing trades. Beginners usually don't have a definite strategy and goals to achieve. The more capital, the more they will lose if they are not ready to trade. Basic knowledge is very important and learning Technical analysis and Fundamentals is a requirement that must be done, although not so specific.

Beginners are only tempted by the huge advantages of trading Cryptocurrency, especially Bitcoin and all without adequate knowledge and trading at the wrong time.
and actually all trading is very risky including Cryptocurrency and it all depends on their own knowledge and analysis before starting it and that's the most important thing.