Around the world, people dream of becoming financial traders. It is our ambition to surpass the market and reach financial independence.
Everyone can trade cryptocurrencies such as Bitcoin, thanks to crypto. Trading crypto doesn’t require registering with a brokerage, paying fees, earning trader status, or any of that. You can open a trading account with Kriptomat or another exchange and begin trading immediately. Compared with stocks, gold, or soybean futures, it is more accessible and more exciting.
Using this guide, you will be able to navigate the risky, yet exciting, world of cryptocurrency trading. We aim to provide a rational perspective on crypto trading that most traders learn only after much trial and error.
Investing in the stock market is not an effective or reliable way of making money. Most traders, despite what advertisements on trading platforms might claim, end up losing money.
Financial advice is not provided in this guide. Any trading you do is done at your own risk. The purpose of this guide is solely educational. This guide will hopefully help you manage the risks and make better decisions if you decide to trade cryptocurrencies.
What you need to know about crypto trading – The three basic concepts
Our Cryptocurrency Prices page shows the prices of digital assets (tokens, coins, NFTs) that are traded.
Traders are not investors in the context of this discussion. A long-term return is the goal of an investor. Profits are the focus of the trader at the moment. It’s all about getting in and getting out quickly, pocketing the profits. The majority of traders lose money. A few make money.
Trading can be divided into three concepts:
- Analyzing the fundamentals of an organization or project includes analyzing its vision, its customer base, its team, its partnerships, its current revenue, and so on.
- Using various historical indicators and price charts, technical analysts can make predictions based on historical trends. Trading is primarily based on this.
- In order to reduce risk, traders need to develop proper patience, discipline, and trading methods. Trading methods are essential to reducing risk.
Essentially, trading boils down to the following:
- Is there anything I should buy?
- How much should I purchase?
- What is the best time to buy it?
- What is the best time to sell?
The value of coins fluctuates based on perceptions of the market. Analysts base their predictions on a technical examination of the price chart (technical analysis) and in-depth analysis of updates in the news (fundamental analysis).
A lot of luck and research go into deciding what to buy when and when not to. Whatever may be the case, we suggest you decide on the more popular cryptocurrencies like Bitcoin or Ethereum and more. And make sure to store your coins on popular and safe wallets. In case you are investing in Bitcoins, we suggest you choose an anonymous Bitcoin wallet for safety purposes.