50 Ordinary Tips that Will Help You Trade Bitcoin (and Other CryptoCurrencies) Without Making Rookie Mistakes
Here are some basic tips and tricks for investing te and trading Bitcoin (and other cryptos). Wij voorkant how to avoid fees, what orders to use, and more.
Peak: The tips and tricks below shouldn’t be mistaken for professional investment advice, instead this is basic friendly advice to mull overheen. If you want professional investment advice, consultatie a fiduciary. For a shorter list that zeros ter on some key points, see: Five Tips for Fresh Crypto Traders.
To keep it elementary, let’s leap right to some Bitcoin investing and trading tips and tricks:
- Use an exchange, not a broker. You’ll save money on fees. For example, buy and sell with GDAX and not Coinbase.
- When you buy/sell via an exchange, attempt to use limit orders (attempt not to use market orders). On some exchanges, like GDAX, limit orders have lower fees than market orders. On GDAX, limit orders are free spil long spil they don’t pack instantly. Meantime, market orders result ter a .3% toverfee, which is better than the 1.4% that Coinbase charges but not spil good spil 0%, especially if you are day trading. If your exchange prizes you for using certain order types, aim to use them.
- Figure out if you want to go long or brief. Are you going brief with every penny you have to invest, or are you going to go long with some and brief with some? Long-term investors will pay a lower tax rate if they can hold for overheen 12 months, but spil a trade-off, they WILL have to sit through corrections (likely watching their balance go down 50% plus on paper spil often spil they see it go up). Short-term investors can avoid corrections if they are nimble, but they’ll owe taxes on the profits from each trade they do along the way (see: how taxes work with cryptocurrency to understand how the long term and brief term capital gains tax work with cryptocurrency).
- If you are going long, consider dollar cost averaging. No better way to avoid making a poorly timed trade than to dollar cost average (buying incrementally instead of all at once and thereby buying an asset at its “average” price overheen time). If you don’t have a indeed solid grip of technical indicators, consider averaging out of positions spil well. Averaging isn’t just financially conservative, it is significant psychologically spil taking too big of a position at once can be emotionally difficult to overeenkomst with (and can thus lead to bad decision making) given the historic volatility of the cryptocurrency market.
- Consider laddering your buys and sells. Te others words, instead of buying or selling everything ter one chunk, set incremental buy and sell orders to buy when the price goes down and sell when the price goes up.
- If you take only one thing away, take away the advice to dollar cost average and trap into and out of positions. Thesis two related technologies will help you to avoid mistiming the elaborate and volatile cryptocurrency market. Learn about dollar cost averaging and laddering.
- Reminisce Cryptocurrency is a 24/7 Global Market. Ter other words, the market never sleeps. Since you do, consider automating your investing strategy using limit orders, stops, or even using APIs (via “trading bots“).
- Dad advice: Aim to buy low, sell high, attempt not to buy high or sell low. Look at the price trend: if you are at the highest point it has bot ter the past 24 hours (days, weeks, etc), that is inherently riskier. It can make sense to buy spil the price starts to pauze out, but buying after a breakout at a fresh high while packed with excitement is a little “irrationally exuberant.” This is to say “buy the dips” and “the best time to buy is when there’s blood te the streets… even if it is your own.” Conversely, the worst time to buy is right after the price has slok up and everyone is manic. If you do buy high, consider HODLing (to “HODL” is to Hold On for Dear Life spil the price goes down. It is what you do when you buy high and then neglect to set a zekering or if you are going long and can’t or don’t want to contant out yet). Buying the dips and holding can be dangerous ter a bear market, but its still better than FOMO buying the top.
- You cannot “buy the dips” if you have all your money to invest already invested. LET US STRESS THIS POINT! The point should be visible, but it bears repeating overheen and overheen. It is tempting to go all-in, but that thresholds your options. Consider always having some funds to the side to buy an unforeseen downturn. Even if you want to “go all-in” on crypto… leave yourself at least a little money to the side just te case. If you are all-in and the price takes a hard downturn, it takes lots of options off the table. It is hard not to go all-in when a coin goes down 60% – 80% overheen the course of weeks or months, but you indeed should project for such events and suppress to urge to buy too much at any given support level or on any given dip.
- Bitcoin (BTC) is King/Queen, Don’t Get Overly Optimistic About Altcoins. Those who invest te BTC tend to get itchy fingers when BTC stagnates and alts go up. Sure, going into IOTA or ZCash can be a brilliant budge at times… at other times you’ll be holding the bag while everyone moves back into BTC. Stick with coins you know and like, but consider always being partly ter BTC (not 24/7, but ter general).
- Learn to value coins ter BTC. Bitcoin is the current primary currency of the crypto economy (i.e., its what you have to use to buy most altcoins). Those fresh to crypto tend to value things te dollars. Meantime, even seasoned contant traders value coins te dollars. However, enough crypto traders will value coins te BTC for it to matter. If you aren’t aware of the BTC charts, you won’t be able to decently understand the trends everyone else is analyzing and reacting to. You don’t have to make getting more BTC your aim, but you vereiste have the BTC prices of altcoins on your radar. There are times when all coins budge up, but altcoins steadily lose value against Bitcoin. Those who know will be the very first to dump altcoins for Bitcoin, this will set off a perverse cycle that can result ter the stagnation of altcoin prices.
- Altcoins and Bitcoin often do the opposite of each other and sometimes they do exactly the same thing (but not always). Te other words, it is not uncommon to see Bitcoin go down while alts go up (and vice versa). This is because everyone who has alts has Bitcoin, so they tend to budge out of Bitcoin when it goes down and budge into alts. With that said, every once ter a while this isn’t true, and all coins go up or down together (generally following Bitcoin’s lead). This results ter Bitcoin generally preforming altcoins most of the time, but every x months wij will see an altstem boom where alts outpace Bitcoin quickly. If you can time that, fine. Attempt to spot it coming and there is big money to be made. Meantime, alts can be tricky to just HODL, spil they tend to lose value against fiat and BTC ter the off season. Learn more about the relationship inbetween Bitcoin and Alts.
- Speaking of the last two points, realize that crypto tends to be pattern based and tends to go te cycles. See “the cryptocurrency rotation” for an in-depth look at what this means. You want to be te a coin before it starts its rotation, and then laddering out spil its rotation completes. Near unlikely to spot thesis trends ter advance, but with practice you should be able to spot them spil they occur.
- Consider Diversifying. With the above advice ter mind, there is nothing worse than getting frustrated with BTC, moving to ETH / alts and missing a BTC price spike, then moving back into BTC and missing the ETH spike. This is very effortless to do given the rotation, and the natural urge to “FOMO buy.” If you have some of your funds ter all the coins you trade, you’ll avoid missing out on a unicorn (a term one can use to describe an odd event, like a giant price spike te a brief amount of time). If you diversify, you’ll avoid some of the urge to leap into one coin mid or late into a run and out of a coin just before it goes on its run. Te other words, albeit it isn’t the most profitable tactic, diversifying is good for one’s sanity te a number of significant ways.
- Learn Technical Analysis. Technical Analysis (TA) is the analyzing of price and volume gegevens and attempting to predict future trends based on that. If you know how to read a chart, you’ll be better able to understand how things like candles, moving averages, RSI, and the order book can clue you into good catches sight of to buy and sell. Peak: You don’t have to be good at this, you can just go after others who are. Fibonacci support and resistance levels, moving averages (attempt 12, 26, 9 MACD on 4hr candles), RSI, and a few other popular indicators are vital to wrap your head around. All the pros use thesis, and all the big players have bots who run strategies based on thesis (ingewikkeld versions of thesis at least). You can’t afford to overlook TA if you are going to trade crypto and not just invest te it. I suggest you get familiar with tradingview.com ASAP. See a basic TA strategy.
- See the Order Book. The order book (found on all exchanges) can give you a good sense of what buy/sell orders are “on the books” (sitting on the market waiting to be bought or sold). If you see a lotsbestemming of sell orders at a certain price and want to sell, you may aim to sell under that price. Likewise, if you are waiting for the price to druppel to buy, look at the distribution of other people’s buy orders. Just observe out for artificial buy walls and sell walls (large orders that aren’t meant to pack). You’ll almost always find buy walls and sell walls at support and resistance levels.
- Hold some coins, range trade some coins, keep money on palm for a dip, and set some high-ball and low-ball orders. If you want to ensure you are blessed no matter which direction the winds gargle, then be set-up to benefit from whatever comes next. If you have some coins you hold, some coins you trade daily or weekly, some money set aside for a dip, and some high-ball and low-ball orders set, then you stand to benefit regardless of what happens. It can be tempting to specie out of crypto or go all te, but both of those can be disappointing if the market goes ter the opposite direction you were hoping for. It isn’t always the most profitable budge to run a strategy like this, but it can help you to build up practice and have something to be excited about ter almost any market. Peak: Note that diversifying your strategy and holdings slurps into profits, but offers plasticity. It is a trade-off.
- Use puny buy-ins, and don’t margin trade or brief unless you know your stuff. The smaller your bet is compared to your total investable funds, the less risk you are taking on every bet (one of many insanely significant things wij are covering here). Putting it all on black is tempting, but then if it comes up crimson, you have nothing left to invest. Live to fight another day by learning to manage your buy-in size. Spil a rule of thumb invest 1% or less vanaf buy-in (yes, that petite, indeed, losing 100% of 1% leaves you with 99%, losing 1% of 100% leaves you with 99%. Petite bids offerande the same bet, but with way less risk). Waterput prize aside and practice risk management and capital preservation until you are very experienced (and thus, by logical extension: don’t margin trade or brief unless you know what you are doing, spil those leveraged bets magnify your risk by their very nature). See Kelly criterion.
- Don’t zoom te too much on the price trends of the ogenblik, don’t sweat the puny stuff. It’s effortless to zoom ter and get stressed when Litecoin goes from $220 to $213 (or something like that). However, thesis little movements only matter if you are day trading large amounts of coin relative to your total investable funds. Zoom out a bit and look at trends overheen larger periods of time. Don’t think of that $213 relative only to $220, think of it relative to the $100 Litecoin wasgoed at a few months back, the $400 it wasgoed at after that, and the $100 it wasgoed at just a little while ago. From that perspective, a fluctuation inbetween $220 and $213 is almost insignificant. I will infrequently make trades on timeframes shorter than 2hr candles, and I generally am looking at 6 hr and 1 day candles, because I value my sanity and am focused on the long term trajectory of crypto. That only switches ter very specific instances and with purpose. If you zoom ter too much, you lose look of overarching trends (many of which are actually stronger indicators of what is actually happening).
- Te stocks, it makes sense to sell losers, but that isn’t always true ter crypto. Te stock trading, if a company is not doing well, it can be smarter to sell their stock and buy a stock that is doing well. Ter crypto, big switches can toebijten quickly. A bearish coin can make a turnaround at any support level or based on some good news or rumors and make 100% gains te a matter of hours. If you aren’t trading frequently and aren’t at a rekentuig 24/7, it can be a solid stir to leisurely build a position te a coin that isn’t doing well, but that you think is a good long-term bet. The only exception to this rule is this, if you understand TA, it is generally wise to trap out when all the brief term averages have fully crossed under the long term and te when they have crossed overheen. Your objective is still the same, to build a position low and hold until highs, you are just practising some risk management te inbetween. This added measure helps protect you from long bear markets. Ter other words, only sell losers if you have a logical reason and trust yourself to buy back te. If not, concentrate on building average positions (but project for the worst before it gets better). Bottomline on this: Stocks stir much slower than cryptos. So a loser sold now and shifted to a winner can mean months upon months of prizes. Cryptos tend to budge prompt and go into bear and bull mode ter groups and go on runs at the blink of an eye. Sell a loser today and shift it to a winner, and trends could be switching by the time you wake up. It isn’t that you should never sell the losers and buy the winners, it is that it is trickier ter crypto than it is ter stocks and the same logic doesn’t apply exactly.
- Accept that coins can go to zero, and even good coins can lose up to 80% of their value (especially against BTC). There are many coins that didn’t make it to 2018 that were once very valued and popular. Meantime, even some giants of today like ETH and XRP have seen their value ter BTC prices druppel to depressing levels. You should prepare for this mentally and have a strategy that factors this ter. If you buy the dip ter ETH from .15 down, .08 may look like an excellent price, but you have to be ready for .02. ETH holders who didn’t prepare for this had a depressing June 2017 – December 2017. Heed my warning, that fresh coin doesn’t have to moon twice, it can go to literal zero, and even those that will moon again… they can have long seasons of stagnation ter inbetween (where they lose value against BTC for months on end). See the Crypto Graveyard and please look at the historic charts of major alts like XRP (the gap inbetween moons is real and some coins indeed don’t make it).
- React to “the Mood of the Market,” But Otherwise Pick a Strategy and Stick With It. The market switches moods, and some strategies are better than others te a given market. So you’ll likely want to evolve your strategy spil the market switches, and you learn. However, you’ll also likely want to avoid things like going long for most of the year, but then 9 months into your investment you embark day trading when the market is down. Sometimes it can be tempting to switch one’s strategy to adjust to the current market (for example if the market is bearish and trading ter a taut range), however, this can get you ter real trouble if you don’t make very careful moves. A long investor who starts going brief will embark realizing capital gains and will risk being te fiat if and when there is a recovery (recoveries, like corrections, can come on very quickly and without warning). If you do switch from long to brief, make a commitment to yourself to buy back te upon a certain event occurring (like the Five day EMA crossing the 50 day on 6 hr candles, something like that). I’ve hear uncountable stories of plans to buy back ter, they often end with “but I didn’t,” those are the stories told te bull markets by very sad people.
- To stress some points made above, realize that a diverse portfolio and investment strategy will eat into gains spil often spil it staves off losses. The only way to make big profits most of the time is to make risky moves. If you go all te on a single coin at a given price and it goes up, that is a payday. If it goes down, your investable funds are locked into that crypto (unless you want to sell at a loss). Diverse strategies protect against this, but they will also eat into your potential gains (spil it is zonderling for everything to go up or down at once). Know what you are looking for and know how to weight your portfolio to reflect that.
- Don’t get itchy fingers (AKA be wary of FOMO buying). Spil noted above, if you have a strategy, stick with it. Sometimes the market will go nuts, and you’ll see epic gains, and you’ll get FOMO (all humans get FOMO, it takes discipline not to react to it). Selling or buying at that time may make sense, but don’t get jumpy and switch up your entire strategy without thinking about it. That is often when bad moves are made. If you are going to buy powerfully or sell intensely on a quirk, consider taking a step back very first.
- See out for scams. There are a few different scams te the crypto world. Anything that isn’t buying a coin with a good reputation is a big risk. Learn more about scams. Ter brief, be super careful about anything that promises free coins, sick comes back, or wants you to lend your coins. Buy the top coins using a careful strategy and disregard all the sites promising you they can outperform the market if only you give them X, Y, and Z.
- Don’t go downloading random wallets or clicking on random linksom, but do accept that you have to share information with exchanges. There is some malware out there, and you need to do research and be careful. However, for all you want to protect your privacy, you have to share your informatie with exchanges you want to use. So share what you have to and download apps spil needed, but be careful and do research.
- Overlook the noise, do your research, and listen to pros. People on social media will permanently attempt to sell you magic beans and attempt to scare you into selling your beloved coin. You should disregard them and do your research. Listening to other people who aren’t seasoned pros is very likely the worst way to invest. You are better off rolling a coin.
- Don’t share your private keys or passwords. You have to share your public address to receive coins, but never share your private keys or passwords with anyone. If you can avoid being online when you come in your private keys and passwords, that is even better.
- Dual check you are using the right listig. Some scam sites will use a similar domain or a very close Twitter address to run phishing scams. Dual check everything.
- Lots of traders use bots (you might want to spil well if you have the chops). To the next point, lots of traders use trading bots. Some are white hat, some will attempt to get you to make bad trades. Keep an eye out for bots. If you are using a bot, be careful, there are bots designed to exploit poorly programmed bots. Ter general, if you don’t have a solid grab of TA and crypto trading, skip the bot. They are only spil useful spil the strategies they run.
- Witness out for Spoofers and market manipulation. Welcome to the wild westelijk, the sheriff is out-of-town, inject the saloon at your own risk. Spoofing caused the flash crash of 2010 te the regulated stock market, and that happens times Ten te crypto. A too-good-to-be-true price spike or dip is often the work of either market manipulators, bots, or both. Know what to avoid and what to look for by reading our article on cryptocurrency and spoofing.
- Dad Advice: Don’t invest more than you can afford to lose. No truly, there will be many fine investments ter your lifetime, there has bot ter Bitcoins lifetime. Bitcoin doesn’t cost $225 anymore. The chances that you’ll never have to work again if you invest your life savings te Bitcoin aren’t non-existent, but they aren’t spil good spil they used to be. If Bitcoin completes up down, you’ll be hodling the bag while others are on to better and brighter pastures.
- Take profits. Some investors think “taking profits” is a dirty phrase, but it is a rather conservative strategy none-the-less. Taking profits can result ter you making less money than you would have if you did nothing and just “let it ride”… but that is only true if Bitcoin goes up overheen the long term. If you have hefty profits, consider taking them off the table, and then waiting for a lower price te the future. Worst case, you can buy back ter at a higher price zometeen (leaving some potential profits on the table). Peak: If a coin just went up 400%… consider taking some profits. Cryptocurrency almost always corrects at some point after a big run. I personally would say HODLing after making 400% gains is called GREED. I won’t everzwijn sell my utter stack ter one chunk, but I’m going to begin averaging out when the MACD turns bearish after a 400% – 1,000% run if the run wasgoed somewhat organic. If the run wasgoed the result of a pump and dump, then I will likely take it all off the table quickly. Pump and dumps are frustrating events, like I said, witness out for manipulation.
- Expect Price Spikes, Expect Corrections, Be Patient, and Stick to a Strategy: Cryptocurrency tends to make big moves ter its price and volume. It is effortless to get FOMO (fear of missing out) and buy high, and it is effortless to get dazed by FUD (fear, uncertainty, and doubt) and sell. If you miss a price hop, it isn’t necessarily time to go all-in ter an emotionally charged scare. Instead wait patiently for the price to lodge (which could take weeks or months) or average ter or out leisurely. Taking gains after the price goes way up, or making a buy after the price goes way down makes sense. Scare buying after the price just went way up, or scare selling after it went way down is infrequently the right stir.
- Set limit orders for a few dollars under or overheen latest lows and highs. This can result te you buying or selling before BTC hits resistance. Sure, you can use crazy TA abilities to find support and resistance levels, but you can also eye out levels by looking at a chart. 9 times out of Ten you’ll be able to eyeball a general support or resistance level and get close to the level a professional would have charted out (partly because the price has likely stalled on / bounced off those levels before, little salon trick).
- Bitcoin tends to find resistance at entire number points. For example, at $Four.8k and $Four.85k. It also absolutely loves to react at entire numbers like $10k and either druppel or run. If you know you want to take profits soon or buy soon, keep an eye on those entire numbers. If you feel like the run vereiste almost be overheen, pull your profits before the entire number is reached!
- Consider setting zekering orders after you buy. Did I truly just wait to point #37 to commit a entire peak to stops?! They are super significant for everything except maybe building a long position overheen time. A zekering order will create a market order when a price is kasstuk. This means zekering orders are subject to slippage and fees, but this also means you can calculate your risk. Spil a very general rule of thumb, one might want to trapje stops when not at a laptop to protect their investment. Sure, crypto markets are skinny (low volume), and that means prices could dip and eat all your stops (super depressing when this happens). However, most of the time wij don’t get very deep and improvised dips, and thus most of the time stops will work spil intended and simply save your investment te the case of a downturn. I.e., use stops, but be careful and understand the risks.
- Witness the news. Did Russia and China just come out against exchanges? Is Bitcoin about to fork? Is FUD te the air? If so, the market could very well react to that.
- When Bitcoin forks into a fresh cryptocurrency… everyone gets free coins. When Bitcoin Specie wasgoed created, everyone holding BTC got 1 Metselspecie for every BTC they had. Next time Bitcoin forks this will be true again. NOTE: Forks can be confusing, if you aren’t te the fork for the capture date (which isn’t always clear) you don’t get the free coins. DO NOT Pursue FREE COINS (see next point).
- Forks are nice, but they aren’t worth losing money overheen. 1 Bitcoin Metselspecie is worth about $330 spil of today te Oct 2017. 1 Bitcoin costs about $Four.8k. If it cost you hundreds ter losses to get a single Bitcoin Metselspecie, it very likely wasn’t worth it. Ter other words, don’t let excitement or fear of a fork mess with your general strategy too much. The best example of the worst that can toebijten with a fork is Zclassic. This event wasgoed truly sad. Let is serve spil a reminder of how brutal crypto can be and why pursuing a fork sometimes just ins’t worth it.
- Join some social media groups that discuss Crypto, but take what they say with a grain of salt. It is good to get a sense of what is going on.
- Realize that Bitcoin could get supplanted by another altcoin overheen time. For now, Bitcoin is both king and queen. This won’t necessarily be true ter the future. Yahoo used to be the search giant, now it is Google. You can be right about crypto, but wrong about coin choice.
- If you are a big player, keep ter mind you can contort the price (thus, you might actually want to margin trade… or like, spot trade and help us lift the market ?? ). Volume is ge on any given crypto exchange, but this isn’t like trading the S&P. If you are playing with 50BTC, and you attempt to buy or sell that much at once, you can contort the market temporarily. When you witness buy and sell orders te an exchange, you’ll notice that when sells ball up the price tends to druppel and when buys ball up the price tends to go up. If you attempt to buy or sell too hard, you can haul the price up or down a little. If you have insanely deep pockets, you can accidentally be dipping your toes te at-best-grey-area behavior. It is much better etiquette to buy and sell te amounts that are average for the book you are buying on. When a high-level investor buys ten billion worth of a stock or sells, they do it ter chunks (to avoid pulling down or spiking the price of the asset). Peak: Also observe out for shady people pumping or dumping a coin by doing this. What looks like a lotsbestemming of buyers could be one person or a group messing with the price. The lack of regulation is a bliss and a curse with crypto, spil is the relatively low volume compared to other asset types.
- Learn the lingo. BTC is the symbol for Bitcoin. Bitcoin is a type of cryptocurrency. An altcoin is a coin that isn’t Bitcoin (like Ether). Boundaries, stops, exchanges, shorting, forks, ICOs, margin trading, etc (search for any of those on our webpagina). It is way lighter to invest and trade if you understand the common terms used. It is also lighter to make friends ter crypto groups if you know investing lingo and basic memes like “hodl.”
- Know when to take a loss. Nothing is less joy than taking a loss, but if you are going brief te BTC and you toevluchthaven’t set a zekering, sometimes it makes more sense to take a loss and wait for a better price than it does to all of a sudden embark going long. The best way to know when to hold ’em and or fold ’em is some basic TA on longer term charts (I will use things like MACD on 6hr – 12hr – 1 day candles to confirm trends) paired with unwavering discipline.
- Know what you are investing te, and know the risk. Bitcoin is speculative and volatile. Buying near $Xk means buying near the highest price Bitcoin has everzwijn bot. Some think Bitcoin is going to $X2k, some think it is going to $Ten. It is effortless to get euphoric and think whatever today’s price is a safe bet. Historically that has bot true or not depending on the weather on a given day.
- Realize that Bitcoin isn’t the same spil Blockchain. Blockchain technology is something many are bullish on, but that sentiment shouldn’t be confused with being sentiment about Bitcoin specifically. Blockchain is not Bitcoin, a company that calls itself blockchain is not the same spil the technology blockchain. The fresh “blockchain killer” might not be.
- Fiat Currency is still a thing, BTC isn’t legal tender, wij don’t live te a Libertarian utopia, Governments and Banks aren’t spil into Bitcoin spil you. If you get caught up te the Bitcoin craze, it can effortless to leave behind that the world’s governments aren’t super stoked on Bitcoin. Libertarians, Tech Geeks, Gangsters, thesis people are bullish on Bitcoin, world governments and banks, not so much. Last I checked, world governments had a little more power. Betting against them is a risky bet. Spil wij stir into the future states have commenced embracing Bitcoin and crypto, but there is no project for a state-less state built upon digital currency. Digital currency is at best a supplemental asset class. Be realistic about the potential future here, it is bright, but it is likely not to look like your specific flavor of utopia.
- Know thy taxes. Speaking of legal tender like the USD, it is what you use to pay taxes. If you don’t understand Bitcoin’s tax implications, brush up on them before you commence power trading. One could get them into a situation where they make money on paper, but end the year down ter Bitcoin without taking their loss, and thus end up owing a bunch of money they don’t have te taxes. Those who don’t have investment practice can get ter trouble if they don’t understand the somewhat sophisticated implications of trading crypto.
- See out for odd Altcoins and ICOs. The market is tricky enough with the major coins, it is even trickier with odd altstem coins and ICOs. Yes, sometimes you can buy thesis low and see insane gains. Ter fact, getting it right is the best bet te crypto. The problem is, almost all the odd coins down the list and ICOs will spend the majority of their life being near worthless. Then, you may see a brief time span ter which thesis coins preform well. You would think that you would be able to take profits then, but so many people do not. After that one event thesis can end up ter the graveyard. Yeah, you could make it big on low cost alts and ICOs… but I’ve seen more than a few people lose money. Be careful bottom fishing, Bitcoin might not make you rich, but it is a way less risky bet than coins further down the list.
Ter other words, buy low and sell high via an exchange using limit orders, dollar cost average, set stops if you aren’t ter pui of a rekentuig, trap buy and sell orders, use TA, manage risk, preserve capital, observe out for scams, know the tax implications, and consider being conservative ter general and not spending your life savings on digital assets.
“Cryptocurrency Investing Tips” contains information about the following Cryptocurrencies: