I have been so intense with this new concept of trading, and I have paid for my lessons too. That means to my survival, I have packed some tools for my continuous trades. Here they are:
- If you are really new, you have to read and understand. The sources are coinmarketcap.com, Youtube, Tweeter, and Google with proper keywords to update the news.
For example, on December 12 Iistened to a video of a Youtuber and he mentioned Verge. I checked Verge on coinmarketcap.com to see its price (uptrend). I search on Google with its name and was led to Tweeter to see John McAfee's tweet. And boom! I bought in and planed to hold. Let's see if my decision is a good one in 2018. - Don't jump in the market with a big bag of money when you are totally new and still get some "wave-sickness" due to the huge market and news of cryptocurrencies brand new millionaires. You should have some practices by investing small amounts of money first, to learn how to balance your emotions and learn to make better decisions later. Basically, it is your brain to learn. Opportunities in this new market are plenty, as there are so many teams who want to apply the new technology on real life and make money out of it.
- Check carefully before you buy. Though you can spot good coins or potential coins on the market, you sill have to check them in details. Read their website, check their team of developers, and their vision in the real-life tasks. If the coin can solve problems or create advantages for the community, and if it is still cheap, big news (or rumors) are around, then it is a good catch.
- Learn to read technical analysis to secure your purchasing order. If you don't know how to read simple indicators, you are likely to jump in to buy when it is hot, and burn yourself when the price goes down. So watch out technically!
- To start, you should consider to get your account on trading platforms ready- with cryptocurrencies.
- If you are in the US, register coinbase.com, link your bank account to the account at https://www.coinbase.com/, buy Bitcoin or Etherium or Litecoin (some trading platform accept Litecoin as an alternative Bitcoin now ( I mean you can buy altcoins by Litecoin).
- Transfer your BTC, ETH, LTC to other platforms which allow you to buy Altcoins. I likehttps://www.binance.com/ and https://www.cryptopia.co.nz/.
You are set ready to go! Good luck!!!