Rain Check

.
Rain Check Magazine

Magazine

Trading Cryptocurrency Tips for Beginners

  • Written by News Company

The idea of digital money is trending, especially among millennials, given that 4.68% of them had already invested in cryptocurrencies of some kind, as softwarefindr.com report points out. Despite this massive inflow of new people, the cryptocurrency market proves to be a real challenge, especially for those with little or no experience in the field of trading. Some cryptocurrency trading tips are required for those who to start with the right foot, so let’s jump into this subject.



cryptocurrency trading tips

#1 Trading cryptocurrencies is like a business

Although most of the people are being drawn into the cryptocurrency market seduced by off-the-charts returns, they fail to understand that the huge amount of volatility comes with great challenges. Just like stocks, ETFs, or commodities trading, you should treat cryptocurrency trading as a business. That means you have to study, fail, test, learn, and develop your own trading methods.

#2 Focus on large-cap tokens

Even though you might have some experience in dealing with other markets, you won’t be able to post the same results in dealing with cryptocurrencies. Each market has its own personality and behavior, being influenced by completely different factors. Still, starting by trading large-cap tokes like Bitcoin, Ether, Litecoin, etc., you’ll be involved in liquid markets and avoid some of the downsides of dealing with small-cap tokens.

#3 Be aware of the price manipulation techniques

Thirdly, the cryptocurrency market is still in its early stages, and the lack of regulation makes it vulnerable to price manipulation techniques. In order to not fall into traps, you must be aware of these methods. Short squeeze, spoofing, wash trading, and pump-and-dump, are the most popular price manipulation occurrences. If you do not want to get caught by surprise, make sure you’ve already understood each of them.

#4 Different ways to trade cryptocurrencies

What we can easily notice in the past year is the tendency of some companies to launch alternatives for the traditional cryptocurrency exchanges that had thus far proved to be unreliable. Now that you can trade the price of BTC on easyMarkets, or trade futures contracts on the CME, there’s no reason why you should deal with unregulated and unsecured exchanges. Solely in 2018, there had been $856 million stolen from exchanges, according to research from Ledger, a figure more than double to what we saw in 2017. Although exchanges are beginning to realize actions should be taken, trading crypto in safer places would be more suitable.

Rain Check Magazine

The advantages of having an exhibition at a trade show or conference

There are tonnes of trade shows, exhibitions, conferences and events that you could attend on an annual basis. Look out for those that fit into your... Read more

Simple hacks to add big value to your house

For all homeowners there are two priorities when it comes to their property. The first is making the house liveable and comfortable. The second is... Read more

Trading Cryptocurrency Tips for Beginners

The idea of digital money is trending, especially among millennials, given that 4.68% of them had already invested in cryptocurrencies of some kind, a... Read more

How to create an office that works

Creating the perfect office is something that has probably never been done. Without a doubt there are lots of people who like their workspace and wh... Read more

Are leadership and management the same thing?

Distinguishing between a leader and a manager is a topic that can be debated at length. Are they different? If they are different, are there overlap... Read more

Get offline, go online

An online shopping experience can be as good if not better than going to buy something in a physical store. The elements that separate the one from th... Read more

Five things anyone can change on their car

For most people a motor vehicle is prized asset and one of the most expensive purchases that they will ever make. Indeed, many people need to take o... Read more

Top Australian Casinos Offering $1,500 Bonus or More

We absolutely hate to say this right of the bat, but we’re going to disappoint you to some degree. We did find some, but we’re not going to talk abo... Read more

The different legal people and what they do

For many people the idea of law and lawyers is based on television shows like Suits or LA Law, or perhaps on books by the likes of thriller writer J... Read more

How to be Safe When Shopping Online

Protecting yourself when shopping online goes beyond ensuring that you don't get hacked; it also covers your finances and ensures that you are not m... Read more

What's New in the NT

Tales from the Top End: What's New in the NT   ... Read more

THE TRENDS DEFINING BRANDS IN 2018

  The Media Store identifies ‘Borderless Brands’ trends within its annual report ... Read more

 

Welcome to Rain Check