Trading Crypto: Quick Checklist before You Proceed
December 7, 2019 | Uncategorized | No Comments
Anyone who’s eager to learn more about crypto should participate in some sort of trading. Every passing month, it is becoming more mainstream and getting the attention of a bigger audience. As a result, there are new players who want to penetrate the market and have a share of the pie. So in an effort o help those who will be entering this market, reading the content of this crypto trading guide would be a huge help.
If there’s something that you have to know with regards to crypto trading, it’s the fact that not because you have MT4 indicators, you will always win in your trades. Things don’t work that way. You need to do your due diligence and practice.
As you read this article, you would be able to learn the integral steps on how you can become the best crypto-trader as you can be.
Trading Fiat to Crypto
You may have spare money that’s lying around and you don’t like it sitting there doing anything. Now, what would you do about it? Portals that are connecting our world’s currency to crypto are referred to as Exchanges. And mind you, there are so many exchanges that you can find these days. The thing is, before deciding to choose one and invest your hard earned money, there are a couple of things that you need to know. Let’s do a quick rundown on the checklist you have to be aware of.
Number 1. Validity
Before you get started to do anything, the very first thing that you have to ensure is that, there’s an available exchange in your area. To give you an example, among the biggest and most notable exchanges today is Coinbase. However, it isn’t available in Indonesia and India. Therefore, before you sign up on this one and create an account, make sure first that it’s available in your country.
Number 2. Reputation
The next thing that you must clarify is the exchange’s reputation. Does the exchange been hacked before, are the traders happy with the provided services or are they more like complaining?
As a matter of fact, checking out sites like Twitter, Quora and Reddit serve to be great source to check this out.
Number 3. Exchange Rates
Here’s something that you need to know about exchanges, each of them has different exchange rates. So it is important that you do your research and preferable, compare and contrast 3 to 5 exchanges as well as their rates.