How to trade in cryptocurrencies? Check out Tips and How to Do It

 

 

 

 

 

Rapidly growing digitization is also affecting the investment world, as evidenced by the skyrocketing prices of cryptocurrencies. Crypto trading is now one of the most popular investment instruments because it can provide huge profits. The traders transacting bitcoin, ethereum and other cryptocurrencies are increasing day by day.

Along with the high profits that can be obtained, the risk of trading crypto is also no less big, you know. However, it did not dampen the interest of many people to jump into it.

If you are also tempted to trade crypto as well, you should first understand the concept of buying and selling digital currencies to avoid the risk of substantial losses.

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What is Crypto Trading?

        You must have often heard the term buying and selling shares or buying and selling shares, right? Well, crypto trading has the same meaning, it's just that the object of the transaction is cryptocurrency.

Cryptocurrency itself emerged because of the blockchain and digital currency market. Some well-known types of cryptocurrencies are bitcoin, ethereum, and doge whose value reaches tens or even hundreds of millions of rupiah.

Traders will trade their crypto assets. But keep in mind that crypto has a very high level of volatility and the market is not for a full 24 hours. This is different from the capital market which is only open during business hours and closed on certain days.

This means that the value of crypto assets can change at any time regardless of time and hour. If you are in the world of crypto trading, then you should often monitor price fluctuations, even in the early hours of the morning.


How to Trade Crypto

Trading crypto is actually not difficult, but requires the right strategy to avoid losses. Here's how to start trading cryptocurrencies.


1. Choose the type of cryptocurrency
     Before trading crypto, you must understand the types of cryptocurrencies that are sold on the digital money market. The most famous are bitcoin, ethereum, and doge. However, there are still many cryptocurrencies with lower values such as ripple, tether, monero, and so on.

Do a detailed analysis before you decide what cryptocurrency to buy. See the trend of up and down prices for the last month to the last year. If you are still inexperienced or afraid of making mistakes, you can ask a broker for help.


2. Top-up funds on a crypto account
    After crypto investing and trading became very popular even among Indonesians, it is now much easier to buy cryptocurrencies. You can buy it through an online investment application that can be downloaded for free.

Then, register and verify identity. Usually you will be asked to upload a photo of your ID card and a selfie while holding the identity card. You can only top up after your account is approved by the application.

Starting crypto trading can be said to be very affordable, because the minimum capital required is only IDR 10,000. You can top-up according to your budget.


3. Buy cryptocurrency
    The next step you have to do is buy the cryptocurrency that you will sell later. Unlike stocks, the crypto market is active 24 hours a day. So you have to be really observant in choosing the right moment, when you should buy crypto currency.

Crypto trading is a high level of speculation, so you should understand the risks well before deciding to get involved any further. If you are still a beginner, start with as little nominal capital as possible
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4. Make buying and selling transactions
     Once you have a cryptocurrency, you should check its price frequently. In addition to monitoring directly, you can also read the latest news about the crypto currency you buy.

The ups and downs of crypto prices spread very quickly, including on social media. When the value goes up, feel free to sell it. Unlike investing, trading takes a short time. That means, you don't buy the asset to keep it for a long time.







Crypto Trading Tips For Beginners

     Crypto trading is not an easy matter, especially for beginners. The important tips below might help those of you who are not familiar with buying and selling cryptocurrencies.


  • Start with small capital

         You may be tempted by the multiple benefits obtained by other traders. But as a beginner, don't take too big a risk by investing a lot of capital. Start with a small nominal, so that the risk of loss that must be borne is also small.

 

  • Be prepared to take risks

          The value of cryptocurrencies can change drastically at any time. Because this digital market is open 24 hours a day, it is possible that the value of your assets will fall when you are sleeping. This is a risk that you must be prepared to face.

Don't be surprised if you lose in just a few seconds. That's why it takes experience and good instincts in crypto trading, because you have to dare to play price speculation. 

 

  • Don't give up easily when the price drops

          When the value of the assets you have is down, don't immediately give up and get discouraged. Be   patient waiting for the value to rise, then immediately sell it right away if you are afraid of losing. The key to success in crypto trading is knowing when it is the right time to buy and sell assets. 

 

That's all about crypto trading which is now a trend in the investment world. Whatever investment you want to make, be it long-term or short-term, you must first understand the advantages, disadvantages, and risks. Remember that there is one definite law that applies in the investment world: high risk, high return. Happy investing!







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