This year has had several shocking headlines hitting the news such as the fire in Australia, the possibility of a third world war, locusts in Africa, and of course the killer Coronavirus. Cryptocurrencies are yet another hot topic that has caught the attention of many this year.
In the spirit of this excitement and craze, many people have started cryptocurrency trading. And in the following guide, we provide some of the best tips for a great crypto trading experience.
Gather as much information as you possibly can
We live in a digital age when you dont has to go to the library 20 km away to learn a new concept. All you need is either your phone or computer and you’re good to go. Make use of tools like Google, YouTube, and tweeter to gather enough information about cryptocurrencies, this will enable you to make more informed decisions.
Keep abreast with what’s trending
Know the influential individuals in this world and follow them closely especially by reading their tweets. You need to pay close attention to crypto-related news. Ensure that you mostly focus on positive bits because negative information will often cause unnecessary fear.
Research into any coin you are considering to invest in
There are over 2000 cryptocurrencies today and more keep cropping up every single day, in all honesty not all of them are worth your time. As you would expect some are better than others. What technology is the coin based on? Who is the brain behind the coin and is the team reliable? What is the acceptance rate of the coin? And does it fit your needs?
Ensure to put a price ticker in place
Establishing some sort of price ticker will alert you of any changes in price within the market. Install a price ticker on your phone for alerts as soon as something interesting happens in the market; being on the know will help you make better investments.
Make use of trading robots
The technology behind Blockchain and cryptocurrencies can be quite difficult to understand. To help new users, robots with API have been made available to help you conduct trading with more ease.