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Everybody is making money in crypto these days and looking for tokens to invest in and earn. When you first start taking an interest in cryptocurrency it might seem a huge ocean of unknowns. Hundreds of questions crypto beginners have, like where I start; how to choose an exchange; how to figure out own successful trading strategy; what the available helpful resources are…and many others. Our “Crypto beginner guide” is written to solve the most popular issues and after reading it you would have a sense of how to start your crypto journey and skip all possible mistakes.
Key 1 “Choose your exchange”
We all have heard about bitcoin and other names of crypto tokens. New crypto coins have appeared these days and some of them promise perspectives and gain market share at an alarming speed. When you buy some cryptocurrency, you buy some tech stock, a part of the blockchain and a piece of the network.
So, the first important moment every crypto beginner should know is cryptocurrency exchange. It is the most common place where people buy, and trade tokens and it is very important to indicate two important moments: liquidity and reliability. There are multiple terms to judge these factors, such as spread, fees, purchase and withdrawal limits, trading volume, security, insurance, user-friendliness. The more the turnover, the higher the liquidity. Trading volume is an indicator of exchange popularity. When you choose an exchange you should pay your attention to the latest news and comments of its founders. And always remember the more secure exchanges charge the higher transaction rate. Some secondary factors may help you to make a choice, as the number of trading pairs, accessibility for new participants and users, the possibility of margin trading, quality of the technical support and so on. After choosing an exchange you are only a few steps away from crypto purchasing.
Key 2 “Decide what to do with crypto”
Now imagine that you have a certain amount of cryptocurrency. Are you going to look at it or you want to pick the winning and avoid the loosing?
- Buy and hold
There is one simple and safe way to earn money is to buy good and fundamental crypto coins and hold them until they obtain a fair market share. It might take a long time and you should always be on guard because the crypto market changes every minute. You can also hold cryptocurrencies that pay you dividends.
- Buy and trade
You can trade different cryptocurrencies on various exchanges and get profit. But you should know how to do it and understand technical charting at various intervals, only in this case this method of earning is for you. You probably think that you need a long time to become a master. It is true, when you start something new it takes time to plunge into a new subject and usually, newbies spend and lose a lot of money at the beginning of their trading experience.
Key 3 “Trade without risk”
Cryptocurrency market is volatile and full of risk. You need to find a way to perfect your trading skills without losing. We recommend you try SIMDAQ platform. It is a free and safe platform where you can find lessons of crypto trading, quests and exercises to check your knowledge. And the most interesting module of it is a trading simulator. It teaches you how to exchange crypto (bitcoins and altcoins) while improving your trading skills, without risking real money. The simulator is based on real historical data and advanced rhythm. It allows you to trade all major coins and helps you to get very best experience and test your own making decisions theories to guarantee you maximum benefits in the future. With SIMDAQ you’ll get basics of the market, advanced knowledge and master your skills. Except for the course and trading simulator there is SQM Trading module where you can trade and earn in reality. If you’re starting your crypto journey here’s SIMDAQ a useful guide that will get you on your way.
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