15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?
Crypto Guide for Beginner Traders
This crypto guide for beginner traders is the ultimate guide to the crypto world, teaching you the basics of cryptocurrency trading. Like anything in life, you don’t just invest without knowing what you are investing in. Just keep that in mind!
Our team at Trading Strategy Guides has already developed the best cryptocurrency trading strategy which has got a lot of attention from the trading community. There is a strong reason why the best Bitcoin Trading Strategy – 5 Easy Steps to Profit is trading number 1 on the Google page – traders like to make money using our trading advice.
If you’re brand new to trading in financial markets in general, you may want to check out our beginners guide to understanding financial markets
The first step is to understand cryptocurrency. If you don’t understand Bitcoin, Ethereum, or blockchain technology, you’ll not be able to trade cryptocurrencies successfully.
Our cryptocurrency trading guide pdf will answer all these questions and more.
The majority of people investing in cryptocurrency are new investors. If you’re new to the cryptocurrency sphere, or if you’re worried about how to approach it successfully, keep reading.
Table of Contents hide
ICrypto Guide for Beginner Traders
IICryptocurrency Guide for Beginners
II.IStep #1 Open an account with a Cryptocurrency Exchange
IIIBest Places to Buy and Sell Cryptocurrency?
IVThe Top brokers that we recommend if you trade cryptocurrency:
IV.IStep #2 Select the coins you want to invest for the long-term
IV.IIStep #3 What price is your preferred cryptocurrency trading at? Check through multiple cryptocurrency exchanges.
VStep #4 Why are you optimistic about your cryptocurrency choice?
VIStep #5 Store your Bitcoin and Altcoins using a cryptocurrency wallet.
VI.IConclusion – Crypto Guide for Beginner Traders
VI.IIWhat is Cryptocurrency and How Does it Work?
VI.IIIHow Can I Start Trading Cryptocurrencies as a Beginner?
VI.IVWhat are the Best Cryptocurrencies for Beginners to Invest In?
VI.VHow Do I Secure My Cryptocurrency Investments?
VI.VICan You Make Money with Cryptocurrency Trading?
Now …
Moving forward, we will discuss the basics of the cryptocurrency guide for beginners and highlight how you can build your cryptocurrency portfolio.
This guide for beginner crypto traders will teach you everything you need to know to start investing in cryptocurrency with the right tools.
Cryptocurrency Guide for Beginners
Step #1 Open an account with a Cryptocurrency Exchange
Once you grasp the cryptocurrency industry, blockchain technology, and different cryptocurrencies, you can start building your portfolio.
You first need access to the “marketplace,” where you can buy these cryptocurrencies.
If you’re interested in trading Bitcoin, there is a wide range of cryptocurrency exchanges from which to choose. Make sure the exchange you pick accepts fiat deposits so you can buy Bitcoin directly with your fiat money (US Dollars, Euros, etc.).
Secondly, you want to make sure your preferred cryptocurrency is listed on the exchange. The most popular Crypto Exchange is CoinBase. Many altcoins are only listed on specific crypto exchanges. Make sure you choose an exchange that offers the altcoin you wish to trade.
An altcoin is basically a cryptocurrency that isn’t Bitcoin like Ripple, Litecoin, or Ethereum. It’s an “alternative” coin.
If you want a bunch of fancy tools to buy and sell cryptocurrencies, you’ll want to use one of the exchanges that offer you various order types.
Note* Researching your preferred cryptocurrency exchange thoughtfully and listening to other user reviews and experiences is an essential factor when deciding on one.
Now that we have a place to buy cryptocurrencies, it’s time to learn how to choose the ones that will yield the best performance.
Best Places to Buy and Sell Cryptocurrency?
#1 Binance is the most trusted and recommended place to go for all things cryptocurrency. Binance is known for its professional team, proven products, reliable technology, and industry resources. They have a solid relationship with industry leaders and are capable or 1,400,000 orders per second. This makes them the fastest exchange in the market today. You can sign up with them in less than 5 minutes here.
Get $10 Free with Coinbase: Open a coinbase account using the link below and they will give you $10.
#2 Coinbase This by far is the most popular. Either Binance or Coinbase are a great pick if you are looking to get into buying and selling cryptos. You can sign up here if you wish!
The Top brokers that we recommend if you trade cryptocurrency:
1. TradersWay—These guys offer great support and will assist you with any questions you may have about your account! They do an excellent job helping their traders by sending them emails that giveuseful information on the market’s validity. You can learn more about this broker here (USA Traders).
2. Coinbase – #1 place to buy and sell cryptocurrency!
3. Binance – Another popular place to buy and sell cryptocurrency.
Both of the brokers above support Bitcoin trading at this time. They are trusted and have a rock-solid reputation in the trading community. We only recommend people that we trust.
Step #2 Select the coins you want to invest for the long-term
This cryptocurrency guide for beginners focuses on long-term investing in crypto coins. You can invest in multiple cryptocurrencies, but our team at TGS recommends trading one coin first.
We will show you all the basic steps to make sure you purchase the right cryptocurrency.
There are thousands of cryptocurrencies available to trade on exchanges across the globe so there is an extensive variety.
By using CoinMarketCap, a free cryptocurrency resource website, you can find all the different types of coins, their market capitalization, and the amount of money those currencies are worth.
Theguide to cryptocurrency trading will give you a premier selection of the best cryptocurrencies.
There are a few different things you want to keep in mind when selecting a cryptocurrency, and the market valuation is probably an important factor.
We can say three main valuation types define cryptocurrencies:
- Large-cap (top 5 coins).
- Mid-cap – anything larger than $200M.
- Small-cap, anything smaller than $200M.
Don’t make the mistake of buying cryptocurrencies because they are cheap and trading at 1 cent. It’s doubtful that a 1-cent coin will go up to $200. This is because the dollar value per coin doesn’t matter in the grand scheme. It’s the market valuation that counts.
The market valuation is calculated by the number of coins or tokens multiplied by its current price.
Note* We recommend only investing in large and mid-cap cryptocurrencies.
Step #3 What price is your preferred cryptocurrency trading at? Check through multiple cryptocurrency exchanges.
Another thing you need to consider when trading cryptocurrencies is the price of your preferred coin.
Where’s the price of your cryptocurrency?
Is it cheap? Is it at an all-time new high? Or maybe at new lows?
As we already mentioned, you should never buy cryptocurrency solely based on their price. Instead analyze other factors such as valuation, available coin supply, what technology it uses, and the target market.
To maximize your cryptocurrency gains, you’ll also have to apply the “buy low, sell high” principle. This basic principle is part of any successful cryptocurrency trading strategy. You need a guide to cryptocurrency investing that can teach you how to trade bitcoins for profit the right way.
Our team at Trading Strategy Guides has developed many universal trading strategies that can be applied to any market. We recommend starting with our Step by step guide into price action.
Step #4 Why are you optimistic about your cryptocurrency choice?
Why you are optimistic about your cryptocurrency choice is a fundamental question that you need to answer if you want to catch the next Bitcoin.
We have put together four major categories that you should keep an eye on when trading cryptocurrencies:
- What market or industry is the coin disrupting (virtual payments, cloud storage, finance, etc.)?
- What is the technology behind the coin? Ensure it’s easy to use and accessible and that blockchain technology addresses an issue.
- Solid team. Do your research and make sure the team behind your favorite cryptocurrency has experience is big enough and has the necessary skills to implement the claims these coins are stating they are going to make.
- This is probably the most extreme and important factor because it will increase the demand for cryptocurrency, which means people are using blockchain technology.
You should not invest in any cryptocurrency that doesn’t meet at least three of these four categories.
Don’t be caught in the fear of missing out on the next big opportunity in the crypto space. In the crypto community and cryptocurrency lingo, this has been coined as the FOMO trade.
Don’t do the FOMO trade.
Do your research and only invest in the best cryptocurrencies.
Step #5 Store your Bitcoin and Altcoins using a cryptocurrency wallet.
A cryptocurrency wallet is like your bank account for your crypto coins. Your bitcoins need to be stored in a bitcoin wallet the same way your Ethereum coins need to be kept in an Ethereum wallet, and so on and so forth.
In other words, a Bitcoin wallet is a piece of software that you use to communicate with the bitcoin network. You can tell the blockchain when you want to send or receive transactions.
There are multiple ways to store your cryptocurrencies both online and offline. You can even store your bitcoins on the exchanges from where you bought them which is not recommended because there is a high risk of hacking that can result in you losing your cryptocurrencies.
Cryptocurrencies can be stored online and offline in a paper wallet or a hardware wallet.
The best alternative to safely store your cryptocurrencies is to use a hard wallet or a paper wallet.
Conclusion – Crypto Guide for Beginner Traders
This cryptocurrency guide for beginners is intended to be just a template into the crypto investment world.
Cryptocurrencies have the highest potential for making money investing today. Don’t miss out on this once-in-a-lifetime opportunity. Our crypto guide for beginner traders has all the right tools to help you make the right decisions aboutinvesting in cryptos.
If you want to invest in cryptocurrencies you need to follow a process and have a cryptocurrency trading strategy. We hope this cryptocurrency guide for beginner traders will put you on the right track.
What is Cryptocurrency and How Does it Work?
Cryptocurrency is digital or virtual money that uses cryptography for security and operates independently of a central bank. It works on blockchain technology, which maintains a decentralized ledger of all transactions across a network of computers.
How Can I Start Trading Cryptocurrencies as a Beginner?
To start trading cryptocurrencies, first choose a reliable crypto exchange or platform and create an account. Then, fund your account, select a cryptocurrency to trade, and make your first purchase or trade by setting up a buy order.
What are the Best Cryptocurrencies for Beginners to Invest In?
Beginners should consider investing in well-established cryptocurrencies like Bitcoin and Ethereum due to their proven track records and widespread acceptance. Research and understand the risks and potentials of each before investing.
How Do I Secure My Cryptocurrency Investments?
Secure your cryptocurrency investments by using a hardware wallet for storage, enabling two-factor authentication on your accounts, and staying vigilant against phishing scams. Always keep your private keys private
Can You Make Money with Cryptocurrency Trading?
Yes, it is possible to make money with cryptocurrency trading through careful strategy, research, and risk management. However, the volatile nature of the market means there is also a risk of significant losses, so continuous learning and caution are advised.
Thank you for reading!
Please comment below if you have any questions about this Cryptocurrency Guide. Also, remember to read our updated guide to the best cryptocurrency investments for 2024.
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15 Price Action Patterns Insiders are Using If a hedge fund managers were using 15 specific price action patterns would you want to know?
