Crypto trading and investment bring many benefits to crypto holders, so many new users aim to join this field. However, trading is not just simple speculation on asset prices – it implies a deep knowledge of the cryptocurrency market and trading strategies.
The easiest way is to buy crypto and hold it long-term until its price boosts. It is called the “Buy and hold” strategy. It does not require constant monitoring of the market and quick decisions like other crypto trading strategies imply. For example, “Scalping” and “Day trading” imply tracking any single cryptocurrency graph fluctuation and making quick decisions on entering or exiting positions. “Daily trading” suits experienced traders, while “Buy and hold” suits beginners.
Crypto Assets Pick
Many novice investors wonder how to start trading and what to begin with. Of course, the first thing to do is to buy crypto. Picking an asset to invest in, try to analyze a project on your own. Here is a short guide:
- Who are the project’s founders and developers? Do they have a good reputation?
- What is the project’s main idea, and what is so special about it?
- Is the project’s asset listed on large crypto platforms?
- What is the current price, and what does its cryptocurrency graph look like (you will need to learn how to read crypto charts to analyse the asset’s price fluctuations and trends)?
- Who are early project investors and partners? Are there any notable companies?
- What do the project’s social media pages look like? Are they active, and is there proper interaction with the community?
Once you answer these questions, you will understand the project’s position in the cryptocurrency market, and it will become clear if it is worth investing in.
Once you decide on the asset, you need to find a good site where you can buy it on your own. A centralized crypto exchange (CEX) is the best option for a beginner. Such services are legitime and official. They provide security for clients’ funds and offer a variety of investment instruments for beginner and experienced traders. Such cryptocurrency platforms include Binance, WhiteBIT, Coinbase, KuCoin, and Huobi.