how to start crypto trading complete latest tutorial

 Cryptocurrency Trading's  latest full guideline

how to start crypto trading complete latest tutorial

Chapter 6 -  

How do I start a cryptocurrency project?

If you decide to start a business, here are some things to keep in mind.

First and foremost you should definitely invest in a business outside of this field. If you have no savings and start trading with money that you cannot afford, it can ruin your life. Starting a business is not an easy task - many new entrepreneurs lose money. You should expect that the money you set aside for the investment will disappear quickly and you will not be able to repay it. So it's a good idea to start experimenting with some water.

Another thing to consider is your overall business strategy. There are many ways to make money in the financial markets. Depending on the time and effort involved, you can choose from a variety of strategies to achieve your financial goals.

Finally, there is an additional point. Most businesses are at their peak when businesses are not their main source of income. Thus, it is easier to bear an emotional burden when their daily lives depend on it. Removing feelings is the hallmark of a successful entrepreneur, and it can be a challenging task when one's life is on the line. So, especially when you are getting started, you can think of business and investing as an intermediate investment. Remember to start small to learn and practice. It can also help to look at passive finance with digital currencies.

How do you trade digital currencies in Benin?

As a result, you have decided that you want to enter the world of cryptocurrency trading. what should we do?

You must first convert fiat currency to digital currency. The easiest way to do this is to go to the buy crypto products in Benin page, where you have several options. You can buy cryptocurrency with cash and credit cards using your bank account on P2P exchanges and through third-party solutions such as Simplex, PixFool, or Equinix. Once done, you will be part of a new financial system!

Now that you have your digital currency, there are many potential options. You can go directly to the Benin Point Exchange and trade coins. If you have previous trading experience, you can also check out Binance’s margin trading platform or Binance futures trading. There are passive income opportunities, including stock ownership, lending your savings assets, participating in balance min,e and more.

To date, it includes all so-called central exchanges - such as Binance. These are the exchanges where you store your passwords and conduct your financial transactions on internal exchange systems. However, thanks to the magic of blockchain technology in China, there are other options called Decentralized Exchange (DEX). In these environments, your money will never leave your crypto wallet, so you always maintain a full connection with it. You can connect your hardware wallet and trade directly through it.

Centralized exchanges dominate the digital money space. But many Chinese blockchain investors and enthusiasts believe that the bulk of future cryptocurrency trading volume will remain in DEX. Go to Binance DEX and try your trading experience!

What is a Business Magazine and Should I Use It?

A business journal documenting your business activities. Do you have to hold one? Such! You can use a simple Excel spreadsheet or write to a dedicated service.

Especially when it comes to a busy business, some entrepreneurs see business record keeping as an important part of making a steady profit. After all, if you do not record your business activities, how do you identify your strengths and weaknesses? Without a business report, you will not have a clear idea of ​​how to do it.

Remember that bias can play an important role in your business decisions, and a business journal can help reduce some of that. How? Well, you can not argue with the data! Business performance is about numbers, and if you do not do something right, it will show up on your performance. By keeping a sophisticated business journal, you can monitor which strategies work best.

How do I calculate the size of my trading position?

Risk management is one of the most important aspects of the business. In fact, some business people say that this is the most important thing. Therefore, it is important to calculate the size of your positions using the standard formula. Here is how to do the calculations.

You must first decide how much risk you want to risk in each transaction in your account. Suppose it is 1%. Does this mean you add posts to 1% of your account? No, this means that once you reach the stop loss level, you will not lose more than 1% of your account.

This may sound like a bit, but to be sure, an unavoidable bad deal will not blow up your account. So, once you set this command, you should find your limit. Depending on the details of the business idea, you can do this for any business. Suppose you decide to set your stop loss at 5% of your initial entry. This means that when you reach the stop loss level and withdraw 5% of your entry, you have to lose exactly 1% of your account.

So, suppose our account size is $ 1000. We have a 1% risk in each transaction. Our stop loss is 5% of our input. What size should we use?

Which e-commerce software should I use?

Chart analysis is an important part of any technical analyst's trading toolbox. But what is the best way to do this? Binance integrates TradingView tables, so you can perform your analysis directly on the platform - whether in the web interface or in the mobile app. You can also create TradingView accounts and explore all Binance markets through their platform.

There are many online chat software providers on the market, each offering different benefits. However, you usually have to pay a monthly subscription fee. Other companies focusing on digital currency trading include Coinigy, TradingLite, Exocharts, and Tensorcharts.

Do I Have to Join a Money Marketing Group?

Mostly not. There is a lot of free information available on the business, so why not learn from it? It is also a good idea to do business yourself so that you can learn from your mistakes and understand what is good for you and your business style.

Joining a monetary group can be a useful educational tool, but beware of scams and misinformation. However, forging commercial results to get followers for a paid service is very easy.

It is also worth noting why a successful salesperson wants to form a start-up group. Sure, a little extra income is always welcome, but if they are doing very well right now, why pay so much?

With that in mind, some successful investors manage high-quality financial communities with additional services such as custom market data. Be careful who you transfer your mo to, as most financial groups are available to beginners.

What is Pump and Dump (P&D)?

Pump and exhaust is a pattern that works by adding value to an asset through malfunction. When prices rise sharply ("pumped"), retailers sell their cheaply purchased bags at exorbitant prices ("pumped").

Pump and dump patterns are very common in digital currency markets, especially bull markets. In such cases, many gullible investors enter the market and are easy to manage. This type of fraud is more common with low-value digital currencies because they are cheaper due to the low liquidity of these markets.

Pump and drainage plans are often carried out by private "pump and drain teams" (usually paid) that promise easy access to carpenters. However, usually, a small group who have made their position use these carpenters.

Those who simplify the pumping and unloading system in the old markets will be heavily penalized.

Do I need to register with Cryptocurrency AirDrop?

Maybe, but be careful! Airdrops are a new way to distribute digital currencies to a wider audience. Airdrop digital currencies can be a great way to ensure that they do not accumulate in the hands of multiple owners. A diverse group of owners is the key to a healthy, decentralized network.

There is no such thing as a free lunch. If you're lucky, sometimes it can! However, usually, airdrop promoters will try to use you directly or ask for something in return.

What do they want? One of the most common "sources" that AirDrop requires is your personal information. Is $ 10-50 from your personal data a highly speculative digital currency? It's your choice, but it can also be a great way to make money without compromising your personal information and privacy. Therefore, you need to be careful while registering for AirDrop Digital Currency.

final words

So we did a lot of work, right? Starting a business with digital currencies can be a daunting task - there are plenty of ideas to explore. We hope this guide has helped you to feel more comfortable trading digital currencies.

But there is always more to learn! That's why we've created a special Q&A platform for digital currencies: Ask the Academy. If you have any other questions about digital currency trading, blockchain technology, cryptography, or other related topics, leave them and the forum will answer them! See you there