Earnings on the cryptocurrency exchange is a relatively new phenomenon. However, structurally cryptocurrency exchanges are very similar to the usual commodity and currency. The fundamental difference is only in the subject of trading. Which cryptocurrency exchange is better and for whom, how is cryptocurrency trading and where to start trading?
The cryptocurrency exchange is an Internet site on which one type of electronic money can be exchanged for another, or for fiat money, that is, real currency-dollars, euros and others.
The volatility of many cryptocurrencies is extremely high. If the profitability of the shares is calculated in dozens of percent, then the growth of the bitcoin course is calculated by thousands. That is why trading on cryptocurrency exchanges opens up dizzying opportunities for enrichment - but only with the right approach. Cryptocurrency trading requires a professional approach, because In addition to operations, the profitability of which is unlimited, beginners in this area await complexity of various kinds, including serious risks.
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How to choose a cryptocurrency trading exchange?
The exchanges listed above are only a small part of the entire number of existing sites. It can be difficult for a person without experience to navigate in cryptocurrency exchanges and choose the right one. To make a conscious choice, you should pay attention to the following parameters:
The daily volume of trade. High speed exchange is a sign of its popularity. The higher the volume of trade, the greater the chances of making money, trading here.
Introduction and withdrawal of funds. Find out in advance on what conditions, how quickly and in what currency you can credit and withdraw funds with which payment systems this exchange works.
Cryptocurrency pairs. A wide selection of steam also means wide opportunities for earnings. Although beginner traders are more important than the presence of the most popular and liquid cryptocurrencies.
Verification. Do I need a personality confirmation for trading on this exchange or can you work anonymously? Are there any daily circulation restrictions for non -verified users?
TOP-7 Rules for cryptocurrency trading
- Do not play the latter. Invest only those funds that are ready to lose without any problems for the budget. The game on the exchange, including cryptocurrency, is not a banking contribution. There is always a certain risk, especially if you are a novice trader. Be morally ready to lose everything invested.
- Do not allow greed to make decisions for you. It can be very difficult for beginners to fix profit, because it always seems that one could earn even more. But it is better to make a profit and make a new visit than wait and bear losses.
- "Trust but check". What is written in exchange chat must be subjected to no less careful analysis than the situation in the cryptocurrency market. There are many people who are ready to promote a certain currency in any way - by no means from altruism, but for personal enrichment.
- Analyze. Not all cryptocurrencies are the same - some are more stable, others are less, and some are completely doubtful. Stable cryptocurrencies are good for medium -term and long -term investments, but with “dark horses” you can take a chance at short -term distances. The main thing is not to store all eggs in one basket.
- It is necessary to buy cryptocurrency when falling, and sold on growth. So you get ahead of the crowd, which is thoughtlessly follows trends.
- Do not try to catch the minimum and maximum. This is too risky game, especially for a beginner. Even exchange sharks can not always correctly evaluate the mood of the market.
- “Hope for memory, but do not flatter”: strategies and warrants must be recorded. This will help you in the future calculate the average purchase price and create your own strategy for each trading stage.
The cryptocurrency exchange https://www.mexc.com/, like any other exchange, is not a casino. No matter what trading mythology says there, and experience, knowledge and analytical skills mean much more here than luck. Therefore, if you are seriously interested in cryptocurrency, first of all, invest in your education, figure out how this market works, learn everything about the types of cryptocurrencies and strategies and play with a complete understanding of what you are doing.
