Cryptocurrency trading in 2022

Do you want to learn all about cryptocurrency and don’t know where to start learning? And which cryptocurrency is the most promising? If you simplify the principle of trading cryptocurrency on the exchange, it is no different from others. Buy low and sell high. In order to buy bitcoin, you don’t need to collect information by the bits and pieces anymore. Just ask Google and the search results will show you hundreds of options – exchanges, exchangers, bots. Unfortunately, the vast majority of them are still fraudulent, but the trend is changing. Bce thanks to the fact that people interested in cryptocurrencies are becoming more and more educated in this niche.

Buying cryptocurrency

Few popular cryptocurrency exchanges still support trading in fiat money, so you have to replenish balances with pre-purchased cryptocurrency. 

More experienced traders, first of all, ask their acquaintances if someone needs to cash out. This allows them to save on intermediary platforms’ commissions and make the exchange with the utmost peace of mind.

Newcomers study the payback of mining and go to cryptocurrency exchangers for the first purchases of “digital gold”. It is worth noting that even if some platforms have been operating for a long time and have proven themselves from the best side, it does not give a 100% guarantee that the exchange will be successful. Hackers pay a lot of attention to everything related to cryptocurrencies, and quite often exchanges, wallets and other platforms related to this topic are hacked.

We strongly recommend that you use only verified and reliable exchangers, namely, to monitor the current exchange rate we recommend here.

Bestchange.com is a whole aggregator where exchangers are placed and displayed in convenient tables regarding the most favorable exchange rates. In addition to cryptocurrencies, there are a huge number of other payment systems. A handy calculator will help you navigate how much money you can get, both with and without commission. Next to each site is displayed and reviews, which can be used to check the site for honesty. Although, those that have been found to be fraudulent are quickly and irretrievably removed. The rating of the sites changes in real time, depending on the exchange rate. Separately, you should pay attention to exchangers with the “M” sign. This means that the exchange occurs not automatically, but in manual mode, and may take some time. Almost all top sites have their own loyalty system, and for regular use there is a cumulative discount on the commission taken by the service.

Мониторинг обменников BestChange.ru | ВКонтакте

The digital money market is full of pitfalls. You can lose money storing bitcoin, buying and selling it, making transactions on and off the exchange.

There are general rules of cryptocurrency trading: use long and complex passwords, change them periodically and don’t use the same password on different sites. Don’t use suspicious links and don’t leave personal data on sites you don’t trust.

Pay special attention to the private key and SEED phrase that are generated when you create your bitcoin wallet. Your private key is a cipher that you can use to access your bitcoins at all times. Accordingly, if someone else takes possession of it, the coins will become their property.

Losing the SEED phrase can be just as disastrous for your finances. It is necessary to regain access to a bitcoin wallet if you lose your private key.

What you definitely can’t do

Названы самые доходные криптовалюты 2021 года: Инвестиции — Секрет фирмы

Beginners make many mistakes, and they usually cost money. In this regard, it is better to get to know other people’s experience beforehand to avoid unnecessary losses. For this purpose, we have prepared several rules that every novice user should follow.

Do not buy cryptocurrency on the news. As a rule, if a user found out about some news, which is supposed to lead to the growth of the coin’s price, then most likely, it has already happened. If bought – be sure to use stop-loss orders. These are orders to sell coins at a certain price. For example, if a user buys bitcoin at $9000 and the price goes up to $9100, you can place a stop loss order on the buy point. In this case, the exchange will automatically sell the asset at the specified price and the trader will not lose anything.

Don’t be greedy. If you were able to buy bitcoins for $9,000 and then the price went up, it is safer to sell some of the coins and place a stop-loss order on the rest.

Be very careful or don’t trust other people’s buy and sell signals at all. Currently, there are many channels in Telegram and other social networks that publish forecasts on cryptocurrency. Their authors are not responsible for their subscribers’ money.

Don’t give anyone, especially people you don’t know well, capital for trust management. And if you do, only under a notarized agreement. This practice has been popular in the crypto world for several years and often has a negative result for inexperienced traders.

Don’t give in to emotions. Most losing trades are made precisely because of loss of control.

Do not trade on your last money and even more so on borrowed money. Making money in the cryptocurrency market is difficult, and for novice traders, almost impossible. For this reason, you should invest only those funds that you do not regret to lose. And you definitely shouldn’t invest capital that you might suddenly need because of the worldwide crisis caused by the Covid-19 coronavirus infection.

Always have funds available in case the price of an asset drops below the level at which you bought it.

Don’t neglect your education. Trading in the cryptocurrency market is not a casino, it’s hard, nerve-racking work. It can take years to understand how asset prices behave in any given situation.

Write down your trades. This will help you evaluate and adjust your trading strategy, as well as identify mistakes you made.

Learn not to lose and admit losses. If you’re not sure about a trade, it’s safer to close it and wait for another, more opportune moment. It is better to give a little capital to the market than to get stuck in a bitcoin bought at $20,000 for several years and miss the opportunity to buy it cheaper than $4,000 twice.

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