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Friday, April 27, 2018

Rules of Crypto Trading To Watch Out For!

It is no longer gainsaying the fact that cryptocurrencies are here to stay for good and for better. Huge transactions are recorded on a daily basis from the crypto world both in terms of trading ( buying and selling) and in purchasing of ICOs ( Initial Coin Offerings) for long term HODL. You can also make substantial profit from real crypto investment platforms. all you need is patience and try as much as possible to avoid platforms with extremely high ROIs.

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Today. I will be talking about some basic tips and rules to follow as a baby trader of cryptocurrencies. Before, you get started, it is imperative you know that trading in cryptocurrencies means buying and selling of various coins/tokens especially when is low or when it is what experts consider as "bearish" or "dipping period". It is this period most people love to buy so that when the bull run comes in, mouthwatering profits would be made.

Equally, crypto trading or day-trading are done in large volumes. in fact I know of fact that some popular exchanges requires traders to have a certain amount of Btc/Ethereum deposit on the platform which would be used for trading on such exchange. So, if you are an aspiring crypto trader, know that to trade easily and successfully, you need REAL CAPITAL for trading.

The following are just the basic trading rules I have discovered which potential and baby traders must try to always apply as this will help them to minimize loss in trading to the minimal level.

Never Trade With Emotions
Just like any business geared towards making profit whether offline or online, the crypto trading requires knowledge and deep understanding of the peculiarities involve so as to  make the best and strategic decisions during profits and lose moments. Whenever you are trading, do not trade on emotions because emotions are dynamic and subjective to some factors that are not static and that may not help you make  good decisions and may ultimately lead to huge loss which could have been avoided. Do not trade because you like a particular coin or token when you know such does not have potentials.

Read News and Follow Updates
For potential crypto traders that are not news freak, you have to cultivate the habit of reading news and updates about your favorite  coins and  cryptocurrencies generally. There are series of news sent out about various coins projects by the media teams that are capable of either making such coin to dip or have a bull run. I recommend you follow your coins on social media platforms such as Reddit, Telegram, Twitter and others. This will enable you to meet other crypto traders, know when to buy or sell and equally stay updated. Information is Power in Crypto!

Use Genuine Exchanges As Escrow
Yes, you heard me right use verified and widely acknowledged escrows for your trading whether in high or low volumes. Using genuine escrow will give you a peace of mind that your coins are safe. Escrows are intermediaries who ensures buyers and sellers get what they both deserve from transaction. However, some escrows do charge some fees for transaction which I think is quite reasonable since there is guarantee of security from scammers.

Do Your Own Research
As I always say, always do your own research before investing or trading because the crypto world is full of unscrupulous elements who are looking for whom to scam of their hard-earned resources.
Make research your focus point in cryptocurrency.You should never get tired of researching from time to time as cryptocurrencies are dynamic in nature.

What has been your experience in trading?

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