For beginners which trading option is best and which platform and why?

[Imran232]

From my experience i will suggest everyone to choose spot trading because spot trading has less risk than other trading option. Though trading is always risky just you have to understand all trading algorithm, strategies, technical analysis. You have to research about a project before investing money. After your research if you think that this project has a chance to grow up then just buy then wait some time for the price up and when the price is up then sell it. Everything you have to do manually that is why this is called spot trading don't need to set sny leverage also so don't have any liquidation tension.

My first choice platform for spot trading  is Binance exchange. This is no. 1 exchange in crypto world. Low trading fees, lowest withdraw fees plus most secured and 100% trusted and also comes many trading competition.

[Fesatmas]

I think trading everywhere is the same, be it on binance, bithumb, bitrex and other platforms. having small or large capital, it would be the same if you did not have qualified knowledge. therefore to decide to trade, first learn all things related to crypto trading. be it in terms of profits, losses, reading price movements, as well as managing your assets as much as possible to avoid wrong trading patterns.

[The Cryptovator]

What's new? Trading discussion board filled by such as posts. You should add something new if you like to help others or beginner. There will be always a risk of trading either its leverage or spot trade. You are just saying it simply, but nothing simple there. When you are gaining someone losing on the other hands. Exchange not giving your profits, money is circulating among traders. So always keep in mind, earn from trading never easy.

[wxa7115]

I think trading everywhere is the same, be it on binance, bithumb, bitrex and other platforms. having small or large capital, it would be the same if you did not have qualified knowledge. therefore to decide to trade, first learn all things related to crypto trading. be it in terms of profits, losses, reading price movements, as well as managing your assets as much as possible to avoid wrong trading patterns.

This is not exactly true, the platform that you use in order to trade is extremely important, there are many reasons for that but probably the most important are the next three, volume, reputation and fees, if the exchange has not volume then it's going to be impossible for you to trade your coins and even if you can do so the spread is going to be higher which is never a good thing so you want an exchange with the highest possible volume, now exchanges know this which is why many fake their volume so you need to be careful.

I think the reputation aspect is self-explanatory since no one wants to put their money in an exchange with a bad reputation, and finally the fees, the fees are critical for your success, if the exchange has fees that are too high your system could turn from being profitable to not being profitable so always try to get the best fees possible no matter what.

[LeGaulois]

Binance is the most secure, you say...

... Did you forget the platform was hacked last year? Very secure yeah!  
Oops, I forgot, 3 months later it was hacked again with a security breach and KYC information

This is the #1 exchange in crypto world, you add...

... LoL, the number 1 platform that gives users data to blockchain analysis company to snitch to government agencies, the number 1 platform working itself with an American agency (the Department of Homeland Security in the US) for a financial surveillance program and snitch...

... The same platform that will freeze your account in you try to transfer out Bitcoin to a Coinjoin address. The same exchange that "conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States"

[Imran232]

What's new? Trading discussion board filled by such as posts. You should add something new if you like to help others or beginner. There will be always a risk of trading either its leverage or spot trade. You are just saying it simply, but nothing simple there. When you are gaining someone losing on the other hands. Exchange not giving your profits, money is circulating among traders. So always keep in mind, earn from trading never easy.

Thank you soo much for your suggestion and clarification on this topic i will keep in mind.😍😍

[Imran232]

I think trading everywhere is the same, be it on binance, bithumb, bitrex and other platforms. having small or large capital, it would be the same if you did not have qualified knowledge. therefore to decide to trade, first learn all things related to crypto trading. be it in terms of profits, losses, reading price movements, as well as managing your assets as much as possible to avoid wrong trading patterns.

This is not exactly true, the platform that you use in order to trade is extremely important, there are many reasons for that but probably the most important are the next three, volume, reputation and fees, if the exchange has not volume then it's going to be impossible for you to trade your coins and even if you can do so the spread is going to be higher which is never a good thing so you want an exchange with the highest possible volume, now exchanges know this which is why many fake their volume so you need to be careful.

I think the reputation aspect is self-explanatory since no one wants to put their money in an exchange with a bad reputation, and finally the fees, the fees are critical for your success, if the exchange has fees that are too high your system could turn from being profitable to not being profitable so always try to get the best fees possible no matter what.

Its really appreciate able. Thank you for clarify your doubt on his suggestion i will keep in mind your every single word.

[Imran232]

Binance is the most secure, you say...

... Did you forget the platform was hacked last year? Very secure yeah!  
Oops, I forgot, 3 months later it was hacked again with a security breach and KYC information

This is the #1 exchange in crypto world, you add...

... LoL, the number 1 platform that gives users data to blockchain analysis company to snitch to government agencies, the number 1 platform working itself with an American agency (the Department of Homeland Security in the US) for a financial surveillance program and snitch...

... The same platform that will freeze your account in you try to transfer out Bitcoin to a Coinjoin address. The same exchange that "conceived of an elaborate corporate structure designed to intentionally deceive regulators and surreptitiously profit from crypto investors in the United States"

Thank you soo much for your all informative and important information this will help me alot.

[death69]

I think trading everywhere is the same, be it on binance, bithumb, bitrex and other platforms. having small or large capital, it would be the same if you did not have qualified knowledge. therefore to decide to trade, first learn all things related to crypto trading. be it in terms of profits, losses, reading price movements, as well as managing your assets as much as possible to avoid wrong trading patterns.

Choosing a good platform is an important step in tradung. By choosing a right one, you are in a proper way leading to trading. Dont underestimate that. High volume and liquidity exchange gives your more choices.

Then, after that, learning to trading is the next important thing to do. But for me, experience is the most important. Exercise more and more will make you become a better trader

[Ryker1]

^[snip]
Choosing a good platform is an important step in trading. .

Well, you have a point there, --it is the first step before having a trading activity. You should pick a good exchange first before trading your portfolio there.
I will recommend for the newbie traders is copy trading, there is an exchange platform as of now that has been hacked or scammed, I think people will most likely always doubtful of each other. That bad practice should not increase.

You can choose Binance or Etoro exchange platforms for your trading, it will surely easy for you to understand.

[boyptc]

I have never tried leverage trading

I understand the risk and its reward but, I dont like to try it even if I know that I can take good care of my own risk tolerance.

[Kahoy01]

I also suggest spot trading for beginners and do not yet try margin trading because of the high risks, if you cannot make money in spot trading then how you will make money in margin trading? It is about experienced, I also suggest others before they put real money better to try paper trading first in Etoro wherein you can practice trading with limited cryptocurrencies like BTC, ETH , XRP, LTC and many more. You will only lose your first investment if you quickly put money wherein you are not yet know how to execute a certain trade.

[Rebisco]

I also suggest spot trading for beginners and do not yet try margin trading because of the high risks, if you cannot make money in spot trading then how you will make money in margin trading? It is about experienced, I also suggest others before they put real money better to try paper trading first in Etoro wherein you can practice trading with limited cryptocurrencies like BTC, ETH , XRP, LTC and many more. You will only lose your first investment if you quickly put money wherein you are not yet know how to execute a certain trade.

That is right, we should master spot trading first before we move on in margin trading. There are a lot of information that we should learn first before transferring our funds into our margin funds. I tried  to make investment in margin because of my greed I think where I lose a lot of money because I made investment where my knowledge is still not enough. So the result is obvious where I lose all of my funds but it is ok for me because serves as knowledge for me. Binance is good especially in spot trading so I also suggest it. I do not have any account in Etoro so I do not know the features inside on it.

[beerlover]

Binance is still quite secure, not for binance itself maybe but for you it is still secure. Let people say anything they want to say about binance because it is their right to say (freedom of speech) whatever they want. However when they provide you with facts that doesn't change anything for you, that is just funny.

Yes, binance was "hacked" and yet nobody ever lost anything, binance covered all the costs of the hack themselves without putting any cost on the customer. So, why would it matter to you that binance was hacked? They have 90%+ of their money on cold storage, so even if they are hacked again and again, they could always afford to pay people their money without making them lose anything, you can hack binance hot wallets once a week and they would still be capable of taking the hit themselves.

[Fatunad]

Binance is still quite secure, not for binance itself maybe but for you it is still secure. Let people say anything they want to say about binance because it is their right to say (freedom of speech) whatever they want. However when they provide you with facts that doesn't change anything for you, that is just funny.

Yes, binance was "hacked" and yet nobody ever lost anything, binance covered all the costs of the hack themselves without putting any cost on the customer. So, why would it matter to you that binance was hacked? They have 90%+ of their money on cold storage, so even if they are hacked again and again, they could always afford to pay people their money without making them lose anything, you can hack binance hot wallets once a week and they would still be capable of taking the hit themselves.

People would really be having those bad impressions when a certain platform had been hacked in the past where they do already have doubts in regards to its
security this is why its no surprise that we can really see these kind of sentiments which might really be that too unappealing for us people who do
know that Binance wont completely fall just because of that incident.They are still capable and well known and still sit on the top of the chain.
If they dont like to use it then let it be and find for another one but i doubt that theres no better option than on this one.

[samcrypto]

We keep on telling the beginners the same thing and I hope they adopted it so they wont lose money that much. We all know spot trading is very simple compare to other types of trading and of course dealing with the great exchange is a much so you wont experience any problem later on. My only advice is that, don't trade if you don't have any knowledge yet and keep on learning because trading is not an easy job and your money is on a big risk in trading.

[Salauddin1994]

Yes spot trading makes it much easier for newcomers but before that you need to have a good idea about trading before you start the main trade you are ready to trade and you can prepare for that with virtual money through demo trade. In this market you will get leverage facility to trade in huge range with your limited money it is also a spot trade or continuous flow market where you do not have to wait long to sell any shares you buy this means you can complete your trade in moments.

[maxreish]

Of course newbies shouldn't enter a trading field without a weapon---the knowledge and the confidence.
 
 While spot trading is suited for newbies as the margin trading and future trading are both more complex than the former, of course the reputable exchange where you will incorporate the trade is also significant to consider.
 I, myself have chosen Binance exchange before the hack happens but like those who are old and has a good reputation exchanges, they are still vulnerable to hacks so be prepared with all the consequences when entrusting your funds to a particular trading platforms.

[redsun114]

I also suggest spot trading for beginners and do not yet try margin trading because of the high risks, if you cannot make money in spot trading then how you will make money in margin trading? It is about experienced, I also suggest others before they put real money better to try paper trading first in Etoro wherein you can practice trading with limited cryptocurrencies like BTC, ETH , XRP, LTC and many more. You will only lose your first investment if you quickly put money wherein you are not yet know how to execute a certain trade.

Very true and one should learn to make profits in spot trading and once they feel they have evolved enough and only lack funds then they can try leveraged trading because while it is risky you can buy and sell tokens worth much more than you deposit and allows better chance of higher profits.

I would say Binance is the best exchange right now but keep in mind to always withdraw whatever you have have left after trading all week because keeping money on exchanges has a relation and people in past have regretted that so no doubt Binance should never scam but better safe than sorry and crypto coins are yours only when you have the keys for the coins/tokens.

[MusaMohamed]

Option trade is riskier than margin trade and if you can not manage to do your margin trade good enough to avoid liquidations, you would never join option trade. Your money will be washed into the air with option trade.

If you have gambling blood, try to get profits with your investment and spend 10% of it for your tradings: option, margin. Don't use more than 10% of your profit for tradings.

Investment can help you get profit but you can get loss if you don't cut loss well so your profit can be taken away by the Mr. Market. Use 90% of your profits to prepare for loss from investments. The best is get your capital out and use only 90% of profit for reinvestment, 10% for option or margin trades