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Is this the ideal time for beginners to venture into crypto trading? What all things we need to know?

By Oenomel | Crypto Trading Market | 25 Nov 2020


In fact, as you read the headline you may feel that what I am going to explain here is that it may be the best time for beginners to enter the crypto trading market without any major fluctuations in the market, but I have to say that in my opinion there is no specific time for beginners. in fact it is common for any person to take the first step towards crypto trading. Today I will try to talk you in a simple way how an individual can avoid troubles and establish a base for crypto trading. This can be helpful not only for beginners but also for current crypto traders.

It is a well-known fact that with each passing day, the world of cryptocurrencies continues to dominate. As it gets more mainstream attention in the world, new people want to enter the market and take advantage of crypto. But it is also common for many people to give up trying because of huge financial losses. Let me start by clarifying my idea with a meme.

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I hope you all understand what I want to say here is ....  In any field we must first lay the foundation. Doing our own research and accurate observation before taking the first step in any area of ​​life can save us from many dangers.
Sorry I deviate from my subject.
There are a few things you need to do and know before entering the exciting crypto market.

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Specifically...What you need to know about exchanges...

We can describe exchanges as the main stream network that connects our world with the crypto worlds. Exchanges open up opportunities for us to convert our fiat currencies directly into crypto deposits. Just because we are a member of the exchanges does not mean that we can establish ourselves in crypto trading. For this, we need to know a few things.

Some of them are general and some of them are completely technical .

An example of one of the most common general fact is that , recent changes in the trading practices of most crypto investors and traders. In detail, most traders prefer to trade around the American trading section because the fluctuating price at the beginning of the New York market trading hours can be much larger than at other times. If we look at market capitalization, we can see that the fluctuations in the prices of the world's major currencies are closely linked to the opening up of the US financial markets.

One of the most important Technical knowledge that we needed is about Market checklist , It help you to move forward easily. Let me try to keep it as simple as possible

Exchange rates, Honor, Validity and Safety are the most important things on the exchange checklist.

Exchange rates
Each exchange has its own exchange rates. May vary according to those exchanges. Try to gather as much knowledge as possible about the websites and exchanges that are available in your country and their exchange rates.


Honour: it is something you should definitely make sure of before you invest in any exchange. What are some recent developments in the exchanges you would like to use?
Are people happy with their services? Has it been hacked recently? How far can they communicate with customers? Are their complaints being resolved? And so on should be ensured through social media platforms, platforms and fully trusted channels. Many people lose money by investing in exchanges and other crypto platforms through their friends. Maybe your friend suggests it to you for a temporary profit like reference earnings.


Validity: Perhaps more than anything else you need to know about crypto exchanges and websites that are available in your country. Have you ever thought about the situation where you are not able to withdraw money from the exchange to your bank account after studying and investing in detail? To give an example, Coinbase, one of the largest exchanges, is not available in India or Indonesia but it is possible to invest in personal wallets.

Safety: The money you invest in cryptocurrencies is yours. Maybe this decision will be the decisive one in life. Therefore, make sure that the exchange gives you as much security as possible for your investment. Many people consider KYC approval a hassle and approach exchanges that do not have it. But an exchange approved by KYC approval can give Carl 100 times more security than other exchanges. No matter how small the amount.

Studying and analyzing on your own before doing anything will help you a lot.

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One of my humble suggestions is to practice crypto trading for at least three months before you officially step into crypto trading and learn to look at it clearly and it will save you from big losses today. And by doing so, you are making yourself trustworthy.

In the following articles on this blog I would like to write about the basic principles and trading methods that will be useful for crypto trading beginners as well.

I hope all my readers have been benefited from this small piece of knowledge. Kindly add your valuable suggestions to this article. 

Thankyou



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Oenomel
Oenomel

Tech enthusiast...Modern day blogger, a student for ever...


Crypto Trading Market
Crypto Trading Market

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