Name Price24H (%)
Bitcoin (BTC)
$32,951.00
-3.28%
Ethereum (ETH)
$1,923.87
-4.15%
XRP (XRP)
$0.64
-1.06%
Litecoin (LTC)
$130.55
0.43%
Guide to Trade Coin for Beginners (Part 2)
Instruction

Guide to Trade Coin for Beginners (Part 2)

Coin Top and Coin “Trash”, which coin should I trade?

First, let’s find out what is Top coin and “Trash” coin:

Coin Top: are coins or tokens with large market capitalization, which can be in the Top 10, Top 20, or Top 50 on CoinMarketCap. Coin Top usually has small price fluctuations (small waves), less manipulation (making prices), the level of risk when the trade is smaller. But the profit is not much.

Coin “trash”: coins or tokens with a small market capitalization, usually tokens from newly released ICO projects. The advantage of a “Trash” coin is that it has strong price volatility (big wave). So if you analyze well, choose the right point to buy and sell will make a huge profit. But if you do not have technical analysis knowledge and view the market, it is very easy to lose money. Besides, trash coins are often manipulated by sharks.

In my opinion, for those who are new to joining, trading Top coins will limit the risks. Big coins like XRP, BNB, XLM, LTC, XMR, TRX … are very difficult to be priced by a shark. Rubbish coins are usually only for professional traders who have long experience in coin trading.

Basic instructions on how to trade coin

  • Step 1: Learn about cryptocurrencies Bitcoin, Altcoin
  • Step 2: Register an account at the exchanges or markets of Bitcoin, Ethereum, USDT, .. to buy and transfer to international exchanges to start trading.
  • Step 3: Post an account on international coin exchanges to transfer BTC, ETH, USDT … to start trading
  • Step 4: Learn how to read charts and trade coin tools. You can learn to trade coin online, find basic to advanced trading documents, learn trading coin techniques of pro traders on forums, blogs …

Experience effective Trade coin for new players

When you do not have much experience, you should prepare carefully before starting to trade coins.

Learn the market carefully, concepts and tools before you start trading

Set profit targets and possible risks. When you have goals, you will know when to take profits to avoid getting too deep into the market and not withdrawing in time.

Understand the nature of Bitcoin, USDT, and AltCoins

Be careful when Trade AltCoin. If you want to hold Altcoins you need to choose carefully, otherwise, just aim in the short term.

Investments start small, with low investments, short-term goals, and target low-cost and high-volatility altcoins.

Buy low, sell high: place buy order lower than the current market price, sell order higher, this is an obvious thing to do when you join the coin trade.

Be careful when placing buys and sell orders, always double-check before placing an order.

Schedule a coin’s 1-day chart to find time levels when coin prices fluctuate strongly and schedule a schedule to be closely watched at these times.

Relax after the trade. After any buy or sell order, whether successful or not, you should rest and relax by listening to music, reading, walking …

Do not take losses too much, maybe the loss you have to suffer today is a large profit later. Even if the coin you hold is strong, it cannot be counted as profit if you have not sold it yet and the money is not in your bank account.

Hopefully, the above sharing has helped you get more useful information to Trade coin. Good luck and always make the right decisions!

 

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