1597150440
Tips (and Common Mistakes) That Every Cryptocurrency Investor Should Know
The crypto space is currently booming. After the so-called “crypto winter” in 2019 the industry is back in the spotlight with interesting use cases such as DeFi applications and the recent rise of Bitcoin over USD 10,000.
As in the past, when prices increase, many newbies want to enter the space. But for newcomers, there are multiple pitfalls to avoid, even though it has become much easier to invest compared to the past. I made some mistakes at the beginning of my crypto career and learned my lessons — which I am going to share. Hopefully, these tips will help you to successfully start your career in crypto and make a profit out of it.
1. Understand the concept & purpose of crypto
Many people want to invest in crypto because they heard about people or have friends who made a lot of money with it. While you can still make a fortune with crypto it is a lot more than just a get rich very fast scheme. The technology, as well as the use cases, are revolutionary and I recommend everybody to inform himself about them.
Generally, no matter what you invest, first, try to understand it. This is especially important in crypto since it is a new asset class and constantly evolving.
The first step could be to understand the underlying technology of cryptocurrencies the blockchain and its implications of being a distributed ledger sharing a single truth and allowing peer-to-peer transactions.
I suggest every new joiner to read the whitepaper of Bitcoin (the first cryptocurrency) to understand its original use case and the history of its development, which is linked to the financial crisis of 2008. Understand the benefits and also disadvantages of cryptos. If you are not interested in doing so, I suggest you go to a casino and bet on either black or red, do not forget the zero though.
2. Have a clear strategy
This tip is a general one in investing and not crypto-specific but due to the high volatility of crypto assets, I think it is very important to mention it. Always have a clear strategy when investing in an asset. Are you planning to be a short-term investor or a long term (called HOLDERS in the crypto space)? This is important to save money and nerves.
In my experience many people come into crypto for short-term investments, they want to make a lot of money in a short time. When the prices increase they suddenly do not want to sell, figuring it will increase even more if they wait, and when the prices fall they say something like “that’s just volatility I wait till the next bull run.” Suddenly they become long-term investors.
Always decide before investing what your time horizon is and when you want to sell.
Define a clear number like I will sell 25% of my cryptos when the price is +20%, for example. Always, have clear boundaries. I also suggest to always take little profit with you on the way even if you think that Bitcoin will become USD 1,000,000 per coin.
3. Pick the right exchange
The first time I bought crypto, I went on google typed in “how to buy crypto” and landed on the Coinbase website where I bought my first Bitcoins. Coinbase is one of the biggest crypto exchanges in the world and there is nothing wrong about it. However, there are several factors you should consider before choosing an exchange.
Firstly, compare the trading fees. They can vary a lot depending on the exchange. Be aware that different payment types have different fees. For example, paying with a credit card is much faster than doing a bank transfer but has higher fees. Think about it, do you have to fund your account right now or can you wait two working-days?
Secondly, check the trading pairs. There are exchanges where you can only trade crypto with crypto in most cases Bitcoin aginst other cryptos. But when you are new you first have to get some crypto to get started on these kinds of exchanges.
Thirdly, check which fiat currencies or cryptos the exchange accepts and offers. Since I am Swiss, I had to change my Swiss Francs into either Euro or Dollar to buy on most major exchanges like Coinbase or Bitstamp. If I had done some research, I would have found out that, there were exchanges where I could buy with Swiss Francs so I could have saved the exchange rate.
In addition, a common misconception is that you can buy most cryptocurrencies in one exchange. This is not the case, there are approximately around 5609 cryptocurrencies in circulation. Therefore, before registering on an exchange be sure they offer the cryptos you want to purchase, do not take it for granted.
#investing #blockchain #cryptocurrency #bitcoin #crypto
What is GEEK
Buddha Community
1624233600
The BEST 5 Cryptocurrency Tips for Beginners (2021). DO NOT MISS!!!
The BEST 5 Cryptocurrency Tips for Beginners (2021)
📺 The video in this post was made by More LimSanity
The origin of the article: https://www.youtube.com/watch?v=BXbYwSpcIjw
🔺 DISCLAIMER: The article is for information sharing. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Not investment advice or legal advice.
Cryptocurrency trading is VERY risky. Make sure you understand these risks and that you are responsible for what you do with your money
🔥 If you’re a beginner. I believe the article below will be useful to you ☞ What You Should Know Before Investing in Cryptocurrency - For Beginner
⭐ ⭐ ⭐The project is of interest to the community. Join to Get free ‘GEEK coin’ (GEEKCASH coin)!
☞ **-----CLICK HERE-----**⭐ ⭐ ⭐
Thanks for visiting and watching! Please don’t forget to leave a like, comment and share!
#bitcoin #blockchain #cryptocurrency #cryptocurrency tips for beginners #the best 5 cryptocurrency tips for beginners (2021) #the best cryptocurrency tips for beginners (2021)
1623795660
Every Java Junior does it: Common Java mistakes made by newcomers
Everyone makes mistakes, not just beginners, but even professionals. This article goes over a dozen common mistakes that Java newbies and newcomers make and how to avoid them. Have you or your colleagues made any of these common Java mistakes early in your career?
Everyone makes mistakes, not only learners or beginners, but professionals. As a programming course, CodeGym team often collects mistakes of newbies to improve our auto validator. This time we decided to interview experienced programmers about mistakes in Java they made closer to their careers start or noticed them among their young colleagues.
We collected their answers and compiled this list of dozen popular mistakes Java beginners make. The order of errors is random and does not carry any special meaning.
#articles #java #everyone makes mistakes #beginners #common mistakes #common java mistakes made by newcomers
1597150440
Tips (and Common Mistakes) That Every Cryptocurrency Investor Should Know
The crypto space is currently booming. After the so-called “crypto winter” in 2019 the industry is back in the spotlight with interesting use cases such as DeFi applications and the recent rise of Bitcoin over USD 10,000.
As in the past, when prices increase, many newbies want to enter the space. But for newcomers, there are multiple pitfalls to avoid, even though it has become much easier to invest compared to the past. I made some mistakes at the beginning of my crypto career and learned my lessons — which I am going to share. Hopefully, these tips will help you to successfully start your career in crypto and make a profit out of it.
1. Understand the concept & purpose of crypto
Many people want to invest in crypto because they heard about people or have friends who made a lot of money with it. While you can still make a fortune with crypto it is a lot more than just a get rich very fast scheme. The technology, as well as the use cases, are revolutionary and I recommend everybody to inform himself about them.
Generally, no matter what you invest, first, try to understand it. This is especially important in crypto since it is a new asset class and constantly evolving.
The first step could be to understand the underlying technology of cryptocurrencies the blockchain and its implications of being a distributed ledger sharing a single truth and allowing peer-to-peer transactions.
I suggest every new joiner to read the whitepaper of Bitcoin (the first cryptocurrency) to understand its original use case and the history of its development, which is linked to the financial crisis of 2008. Understand the benefits and also disadvantages of cryptos. If you are not interested in doing so, I suggest you go to a casino and bet on either black or red, do not forget the zero though.
2. Have a clear strategy
This tip is a general one in investing and not crypto-specific but due to the high volatility of crypto assets, I think it is very important to mention it. Always have a clear strategy when investing in an asset. Are you planning to be a short-term investor or a long term (called HOLDERS in the crypto space)? This is important to save money and nerves.
In my experience many people come into crypto for short-term investments, they want to make a lot of money in a short time. When the prices increase they suddenly do not want to sell, figuring it will increase even more if they wait, and when the prices fall they say something like “that’s just volatility I wait till the next bull run.” Suddenly they become long-term investors.
Always decide before investing what your time horizon is and when you want to sell.
Define a clear number like I will sell 25% of my cryptos when the price is +20%, for example. Always, have clear boundaries. I also suggest to always take little profit with you on the way even if you think that Bitcoin will become USD 1,000,000 per coin.
3. Pick the right exchange
The first time I bought crypto, I went on google typed in “how to buy crypto” and landed on the Coinbase website where I bought my first Bitcoins. Coinbase is one of the biggest crypto exchanges in the world and there is nothing wrong about it. However, there are several factors you should consider before choosing an exchange.
Firstly, compare the trading fees. They can vary a lot depending on the exchange. Be aware that different payment types have different fees. For example, paying with a credit card is much faster than doing a bank transfer but has higher fees. Think about it, do you have to fund your account right now or can you wait two working-days?
Secondly, check the trading pairs. There are exchanges where you can only trade crypto with crypto in most cases Bitcoin aginst other cryptos. But when you are new you first have to get some crypto to get started on these kinds of exchanges.
Thirdly, check which fiat currencies or cryptos the exchange accepts and offers. Since I am Swiss, I had to change my Swiss Francs into either Euro or Dollar to buy on most major exchanges like Coinbase or Bitstamp. If I had done some research, I would have found out that, there were exchanges where I could buy with Swiss Francs so I could have saved the exchange rate.
In addition, a common misconception is that you can buy most cryptocurrencies in one exchange. This is not the case, there are approximately around 5609 cryptocurrencies in circulation. Therefore, before registering on an exchange be sure they offer the cryptos you want to purchase, do not take it for granted.
#investing #blockchain #cryptocurrency #bitcoin #crypto
1593680226
Kickstart your Reliable Cryptocurrency Exchange Business in 2020!
If you have an idea to start your cryptocurrency exchange website with the most trendy and essential features choose the best cryptocurrency exchange soltuion like Coinjoker.
Coinjoker is the leading Cryptocurrency Exchange Development Company, that pioneer in developing a high-end cryptocurrency exchange/trading website platform with whitelabel Exchange Development solutions. This Whitelabel solution helps to start your own cryptocurrency exchange platform at cost-effective budget. You can also get topmost business modules like crypto wallet development, popular crypto exchange clone scripts, cryptocurrency mlm software development, smart contract development, crypto trading bot, Token development, Dapp Development and more.
Exclusive features of our Bitcoin Exchange Script
- Customized Admin Panel
- P2P Exchange
- Easy & Secure Transaction
- Multi-Trade Orders
- Advanced Smart contract
- Margin Trading & Lending
- Merchant API Services
- Two factor authentication
- Multi-Signature Wallet
Whether If you want to build your exchange platform from scratch or to leverage white label exchange development solutions, we can help and assist you. Our customized crypto development solutions will accomplish your business goals and make a way for your long term success.
Check out here to know more >> https://www.cryptoexchangescript.com/
Or contact us through,
Whatsapp->> +91 9791703519
Telegram->> https://t.me/Coin_Joker
Skype->> live:support_60864
Email->> support@cryptoexchangescript.com
#cryptocurrency exchange script #cryptocurrency exchange software #cryptocurrency trading software #cryptocurrency trading script #cryptocurrency exchange website script #cryptocurrency trading website script
1605848956
Best Cryptocurrency Development Company | Cryptocurrency Software Solutions
Shamlatech is the Best Cryptocurrency Development Company with customized solutions for you.
Best Cryptocurrency Development Company to provide you a highly Customized Cryptocurrency Software development and marketing Solutions.
#cryptocurrency software development company #custom cryptocurrency development #cryptocurrency development company #cryptocurrency development services #develop cryptocurrency