Top 6 Cryptocurrency Trading Tips For Beginners | Daily cryptocurrency Trading Tips

Top 6 cryptocurrency trading tips for beginners You should know what is investing? how to invest in bitcoin for beginners? how to start investing with little money? and how to invest money to make money fast?

Top 6 cryptocurrency trading tips for beginners You should know what is investing? how to invest in bitcoin for beginners? how to start investing with little money? and how to invest money to make money fast?

It is undeniable that cryptocurrency trading is getting a lot of attention these days. There are many new investors interested in investing in the cryptocurrency market. If you are one of them, here are 6 things you need to know before investing in the cryptocurrency market.

It starts with learning the 6 cryptocurrencies and blockchain technologies you need to know for new cryptocurrency traders, getting to know the different cryptocurrencies, not forgetting to read the whitepaper, knowing each trading platform, and identifying the types of investors. You should also study technical chart analysis. What are the details? Read on.

Get to know the Top 6 Cryptocurrency Trading Tips For Beginners | Daily cryptocurrency Trading Tips

Cryptocurrency, or cryptocurrency, is an electronic unit of data created as a medium for exchanging goods, services, or other digital assets. Blockchain is encrypted for security, and blockchain technology is the core system that operates behind the transmission. Cryptocurrency exchange available.

RELATED: How to Earn Free Bitcoins Daily without Investment in 2022

Blockchain is a system in which transactions are made without intermediaries or organizations’ control. It cannot be modified by one person, safe from interference with the transparency of digital currency. This makes cryptocurrency the most secure currency today.

Learn about various cryptocurrencies

Another important thing is to research and know the various cryptocurrencies. This essentially divides the coin into three groups. in other words,

• Bitcoin: The World’s First Digital Currency Currently, its value soars to up to 12 thousand baht per coin. It is a currency that can be freely traded through the blockchain system.
• Altcoin: Derived from Alternative, meaning choice. There are over 5,000 altcoins worldwide today as an alternative to Bitcoin. Each currency has a usage method. other properties
• Stable Coins: Currencies that are less volatile than regular currencies. It is designed with reference to the value of currencies such as dollars and euros. Stabilize the value of the coin

Besides Bitcoin, there are many good coins to invest in. Ethereum (ETH), another popular currency after Bitcoin and NFT, is a very popular digital coin. A coin is used to show ownership. In a nutshell, NFTs are like deeds of title that owners use to indicate their rights to those assets.

You must read the white paper

As mentioned in point 2, each coin has different properties. To invest in each coin, you need to know and read the information of the corresponding coin project to understand it. and details so we can read the investment decision itself.

know the trading board

Exchange Platforms There are many popular coin exchange platforms to choose from.

RELATED: How to Buy and Sell Cryptocurrencies in 2022 | full guide

• Binance: World’s leading trading platform with more than 1 currency and 300% trading fees.
• Bitker: Thai Trading Board, easy to use and very popular in Thailand 46 coins to trade, SEC licensed and easy to buy cryptocurrency using Thai baht.
• Satang Pro: Another reliable Thai trading board you can quickly deposit and withdraw coins between Satang Pro and Binance. And there are no Binance deposit and withdrawal fees.

There are other platforms as well. Whether it’s Bitazza or interesting, G-Mex, Huobi recommends choosing the board in the currency you want to trade in, choosing from the stability of the platform the way you choose your trading board. Various services, convenient deposit and withdrawal speed, including features to meet our investment needs

Learn about Crypto Trader Types

Know the investment characteristics of each cryptocurrency trader. If you are a beginner, you can start with the following trading lines to choose the type of investment that is right for you.

• Day Trading Profitable trades are made in one day. Buy and hold in minutes or hours. But it doesn’t stay for a day
• Buy and hold coins to buy and hold for a long period of time, it could be a month or even a year. When analyzing basic or technical factors in the belief that the value of the coin will rise in the future
• DCA (Dollar Cost Averaging) is when investors buy coins for the same amount every month without paying much attention to the coin price at that moment, say at the end of each month. Buy coins accumulated over time by deducting 10% of your salary.

Apart from this, there are more experienced levels such as Farmer (generating passive income by purchasing coins and depositing with Defi) or TA (Technical Analysis Line with Knowledge and Understanding). analysis of future price directions), etc.

Study technical chart analysis.

When studying various coins, let’s analyze some technical charts as follows. To be able to invest in coins with ample funds. And for a reasonable price, here are some things to research: Candlestick Chart, Time Frame (TF), Price Movement Trend (i.e. Uptrend), Downtrend and Consolidation, Volume, Support – Resistance (Support and Resistance)

In addition to knowledge, beginners who want to invest in the crypto world in trading should know about the downsides of the crypto market. Of course, any investment involves risk. The cryptocurrency market is very volatile and very risky.

RELATED: How to Buy Polkadot Coins in 2022

There is a chance to lose up to 80% of your principal (but studying and knowledge before going to the field can also create a chance to profit up to 80% in the market), so not all newbies are in a hurry to invest. If you haven’t studied the market properly.

And one thing that shouldn’t be taken seriously is spending money. The daily cash flow to invest in investments grows and takes time to see results, so the funds invested in this market should be cold money that can be stable over the long term.