I had been in the cryptocurrency trading field for a while and I knew the tricks of the trade or so I thought!
Till I came across this immensely interesting article on the best tips for investing in bitcoins and other cryptocurrencies on this fabulous link that I am sharing here https://bullmarketz.com/best-cryptocurrency-broker-uk/ .
The problem with us investors is that we never learn from mistakes – ours or other’s!
Yes, I am saying that as a generalisation only. I am not bothered if it offends anyone because that is indeed the reality. A lot of junior traders argue with me on this contention saying that they are never averse to learning but the trading per se takes so much of their time that they cannot devote too long for anything leave alone reading.
To this, I tell them that it is indeed that first tip for investing in cryptocurrencies!
If you do not read enough and completely on the markets and the trading, you will definitely be at a disadvantage. As a trader aspiring to climb the ladder at the fastest speed, you will definitely have to dedicate a big part of your time to reading and keeping abreast not just with trading but also with the current affairs because every event that takes place in the world has an impact on speculative trading and cryptocurrency trading is no exception.
Tip #2 pertains to investing with an exchange rather than a broker.
Why! Because when you invest with the former you save a lot of money on fees and processing. Investing with the exchange is as safe or as risky as with the broker so it does not really make any big difference on that count. But the money that you saved by not giving it away to the broker for securing your account can be invested by you or can serve as a cushion for the losses. At least that way you can be sure that even if you lose a little it is the money that you could afford to!