Crypto investment tricks you should learn before investing in cryptocurrency

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When it comes to cryptocurrency investment, there are some factors that one needs to put in place before investing in cryptocurrency. It's not only choosing the right platform where your digital will be secure in terms of security and others that matters a lot, but choosing the right crypto and trading strategy and so on is very important before considering other things.

At first, when you think of crypto investment, what comes to mind first is how to buy the cryptocurrency you wish to invest in, which leads you to the platform where you can buy the crypto using your local currency (fiat currency). Now, once you have chosen the best crypto platform of your choice, the next thing you should do is complete your registration, which requires you to complete some levels of KYC verification (know your customer) before you can start trading. We are here to learn the tricks you should know before investing.

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• CHOOSE A CRYPTOCURRENCY WITH STRONG PROJECTS LIKE STEEM, BTC, Ethereum, BNB, TRX, etc. AND START TRADING.

The number of cryptocurrencies in circulation is about 7,000, so you have to do proper research before investing. To do this, it's better to choose a cryptocurrency with a good project based on the performance criteria and market performance.

As a beginner who wants to start trading cryptocurrency that will give you a better return on investment (ROI), it will be better to stay out of trading initial coin offerings (ICOs) since you don't know how legitimate their projects are.

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• ENGAGE YOURSELF IN PRACTICING DIFFERENT TRADING STRATEGIES.

We all know that the crypto market is highly volatile and changes every second, minute, day, and so on. With this kind of thing in the market, it will be very difficult for you to understand the market other than by trading the same asset using different trading strategies to know which one you are good at.

There are many crypto trading platforms that provide demo accounts for beginner traders to practice, which you can make use of to practice different trading strategies at no cost.

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• YOU SHOULD AVOID FOMO (FEAR OF MISSING OUT).

Many times I have heard people say that fear kills faster than anything else. When investing in cryptocurrency, you should avoid the fear of missing out; instead, always motivate yourself with positive words, so you can stay focused and achieve your goals. By the time you begin to fear, you will lose your money when trading, which you have to avoid at any given point in time.

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• KEEP YOURSELF UPDATED ON CRYPTOCURRENCIES.

The cryptocurrency market is very speculative, so one needs to always update himself or herself on the latest happenings in the market. You should try to always have an overview of what is happening in the crypto market. To do this, you can join the crypto community on social media sites like Twitter, Telegram, and Facebook, where crypto-related information is discussed.

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• ONLY INVEST WHAT YOU CAN AFFORD TO LOSE, NOT YOUR LIFE SAVINGS.

The crypto market is profitable and, at the same time, risky, which makes it hard for investors to predict the rise and fall of a coin. When investing, it's good to only invest your long-term money instead of short-term money that can be used tomorrow, which can lead you to withdraw your investment at a loss.

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• LEARN TRADING METHOD AND FOLLOW THE ONE THAT YOU CAN HANDLE.

Fundamental and technical analysis are the two methods of trading analysis in the crypto market that you should learn as a crypto trader or forex trader. With your understanding of technical analysis, you will be able to know the price history of a cryptocurrency, whereas with your knowledge of fundamental analysis, you will be able to know the current price of a cryptocurrency, which can help you know what the market is up to.

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_{Disclaimer: The information provided in this post is mainly for educational purposes and does not constitute investment strategy or financial advice in any way. For better financial or investment advice, you should obtain independent advice from a financial advisor or crypto expert before making any financial decisions, despite what we have discussed here in this post.}

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