For brand new traders

in hive-183397 •  3 days ago 

Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. If you are new to the crypto sector, then the biggest problem you will face at first is that when you go to invest in the crypto market, you will not understand which coins you should invest in. Because there are currently a total of 12.23 million tokens in the crypto market, you can understand how many types of coins you will get here. But from that, you have to find out which coins will bring you profit if you invest in them.

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But since you are new, it is quite common that you will not understand which coins are good and which are bad. Every new crypto trader faces this problem. Again, most of the time it is also seen that the market pumps but the coins that you have traded in do not pump anymore. But later you see that you are investing in the wrong coins or the coins that are not fundamentally strong, so when the price of Bitcoin pumps, they do not pump anymore. So if you are new, then you will come directly to the coin market cap and here you can see all types of coins in the crypto market. There is a ranking system among all these coins and if you can invest in the coins that are in the top level of this ranking, then hopefully you will make a profit whenever the market pumps. This is a very basic analysis.

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Although there are a few more steps to do fundamental analysis on a coin, since you are completely new to the market, you cannot do such a deep analysis. So if you can invest in just the top level coins without looking at so much, then you are safe first of all because there are many coins in the market that are there today but not tomorrow. But the top level coins have good use cases and good potential behind them, due to which they are well maintained and always useful to people, as a result of which the money you are investing will be safe. Secondly, when the market pumps, the top level coins will follow Bitcoin and pump. I hope you understand by saying top level coins that you can invest in those coins that are in the top 100 or 50 levels of coin market cap. After selecting a coin, your first task will be to buy that coin from a good or top level exchanger such as Binance, Bybit, Bitget, Gate.io, etc.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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Upvoted! Thank you for supporting witness @jswit.

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For brand new traders
Is a great post you have shared.