Cryptocurrency trading should not be taken as something easy - you should not be guided by emotions of greed or frustration but adhere to a trading strategy and make decisions with a cold head instead. Trading is a game that should be taken seriously.
Experienced investors came up with the following trading methods:
- You may take advantage of every tiny price fluctuation and take out small portions of income many times a day using a scalping strategy.
- You may open a position at the beginning of the day and close it when the day ends, thus making money on the daily price changes.
- You may take a couple of weeks and sell your coins with benefits.
- Or you can buy coins for a longer period of time and sell them in a few months or even years.
Before picking a trading method, you should actually understand what currency you want to trade. Investors claim your portfolio should include both high-cap coins, such as BTC, as well as low and middle-cap assets. The fact is that small capitalisation allows assets to skyrocket during the next bull run, which large-cap coins cannot afford.
Pay attention, for example, to the DASH crypto. Its cap is over $804 million, and the project's technology allows converting crypto-fiat currencies and transferring them. The platform works with fiat money, PayPal, so it is integrated into the real sector, and many companies will likely want to add this technology in the future.
The next important issue is picking a platform for trading. If you wish to buy DASH or any other digital asset for trading, use only reliable and well-known exchanges (Binance, Coinbase, WhiteBIT). Now we will discuss some cryptocurrency investment tips to help you succeed.
5 Main Crypto Investment Tips
Here are some tips to remember before investing in crypto:
1. Pick one strategy and adhere to it.
2. Use trading bots (they will buy and sell coins without your participation but according to your configurations)
3. Be aware of the risks you take.
4. Diversify your portfolio.
5. Use long-term strategies.
If you are interested in trading, check out the WhiteBIT blog for much more interesting articles and guides on crypto investments.
Featured image: (C) Shubham Dhage @theshubhamdhage