Cryptocurrency has risen to prominence in recent years, as well as becoming a popular investment strategy. Whether it’s Bitcoin, Ethereum or Dogecoin, there are plenty of examples of people making money through digital currency.
But for newcomers, knowing where and how to begin can be confusing, putting many prospective investors off before they have even started.
In order to help those new to cryptocurrency make successful first steps in the market, the team at www.cryptonary.com have put together their top tips:
Do your research
“Whether you’re new to the cryptocurrency space, or have been working within it for a while, you will need to make sure you’re constantly doing your research.
“If you’re new to the space, it might be worth signing up to an educational group or online course to learn the basics.
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Find a cryptocurrency exchange
“Finding a cryptocurrency exchange is not as easy as registering at the bank.
“You need to make sure that not only the exchange is right for you and your needs, but is also legal and regulated in the country you’re operating from.
“We recommend the cryptocurrency exchange FTX. Once you’ve found your exchange, set up an account and go through the ‘Know Your Customer’.
“An active investor (one with multiple cryptocurrencies who actively adds to their portfolio), would also benefit from a group as they’ll allow you to exchange opinions, information, and advice with other members.”
Have a plan
“Finally, make sure you have a plan and try to stick to it as much as possible.
“Be aware of the volatility present in the market, and make sure you’re prepared for it. Stay cool, calm, and collected throughout the process and with all of your decisions.”
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