Without experience, it’s never the right time to invest in crypto
1 min read
Let me be clear. For those without experience, it’s never the right time to invest in crypto. That means you MUST have knowledge, information, and experience with a free trial demo account. After you test everything you may say it is the right time for further step: investing and trading cryptocurrencies.
Every day is the right time to invest In crypto
You can make really serious money on cryptocurrencies, that is true. But you have to take care of several things. I would be very careful when investing in any crypto because all prices of cryptocurrencies have dramatical ups and downs.
Generally speaking, I would not advise anyone to invest if there is a misunderstanding about what they are investing in and when only the expectation of further growth based on previous growth is present. In that case, never is the right time to invest in crypto.
In addition to the famous and biggest Bitcoin, you can find many other interesting cryptocurrencies on the market. When I say ”interesting” that means that I think their concept, not the potential for price growth.
Why is behind these words, precaution?
So, before you decide to trade cryptos, keep in mind that you are well informed, and if you are not ready to lose what you have invested, you should not even invest because there is no easy earning!
Is this the right time to invest crypto or to trade?
There is an obvious difference between those two terms – trading and investing. Investing refers to the purchase and storage of cryptos. Trading involves active participation in the stock market and frequent purchases and sales in an attempt to profit from price changes. If you are asking me about trading, it is always a good time for professional traders, for those inexperienced and untrained it’s never the right time. My opinion is that no one should engage in trade cryptos, without basic knowledge about it.
First of all, everyone should bear in mind that it is possible to lose everything, whether due to bad decisions or because of security failures of the user or the stock market. Who is not ready to lose everything that has invested – such a person should not invest.
Also, you should be careful in choosing a stock exchange, use strong codes and “2-factor authentication” and you should be able to think on your feet – do not fall into euphoria when prices rise and do not panic when they fall.
How big is the initial capital?
How much money do you need to start trading crypto?
It depends on how much you are ready to lose, how much you expect to earn and how much you are inclined to risk. I have to emphasize that the right answer is your individual assessment.
How to track the value of cryptocurrencies?
You have to be registered on one of the stock exchanges where the cryptos are traded, to verify the order and deposits money. That’s all – when the money is deposited in the stock market, it can be traded.
It is highly recommended for beginners to try their skills on some free demo account and after that, they are pretty ready to play with real money.
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Risk Disclosure (read carefully!)
