Beginners guide in navigating the cryptocurrency market — BigONE
Several countries around the world have enacted cryptocurrency regulations, contributing to a significant drop in cryptocurrency values. According to the market situation, the signs indicate a bearish market. Despite the severe circumstances, desperate amateur investors are investing their life savings, while newcomers are afraid. However, the demise of the crypto circle does not imply a lack of vitality. The perspective of investors is critical, and their skills serve as standards.
We continue to believe that the best is yet to come in the world of cryptocurrency, with new and exciting projects being launched almost weekly. The future of Blockchain technology as a whole is still very bright.
For newcomers or “noobs” in the crypto world. When the market shows bearish signs, it can be difficult to manage, so we compiled a guide to assist you and best practices in following when trading cryptocurrency as a newbie.
● Refrain from jumping into trades
Newbies are notorious for over-complicating things. It is claimed that individuals who know nothing have nothing to fear. The truth is that they are still unknown to the dark side of the crypto community, particularly those rookies who gained confidence from their early successes when the market was quite bullish. They usually believe they are talented, which tends to complicate their lives. Finally, considering that the money utilized for frequent transactions may not be adequate to cover the transaction cost. BigONE advises newcomers to avoid trading frequently, especially during volatile market conditions. Worse, he discovers that the dealer has cheated him.
● Don’t make decisions based on highs and lows.
In the crypto world, to maximize profit, people must buy at the lowest price and sell at the highest price. In practice, however, no one can accurately do this. Many newcomers and inexperienced investors eventually find themselves buying high and selling low, putting them in a bind. As a gentle reminder to newcomers, never take on more than you can chew, and always trade with caution.
● Importance of information
Knowing yourself and your opponents is essential for defeating them. While it is hard to win a war when the market is not understood, you can fight the war with your own hands. A company that has an uncertain situation and no one knows the entire picture is doomed to fail. You must have a keen sense of smell when you lack forethought. If you can’t fight, at least be able to flee, just as hunters do when looking for a ferocious beast. BigONE advises newcomers to observe, listen, and analyze.
Long-term investments yield higher returns.
Many individuals are hopeful about the future of blockchain technology and cryptocurrencies. In the long term, everyone can make money if they can be patient enough to hold it, but not everyone can do this. Beginners who cultivate this mindset will undoubtedly generate money in the long run. Despite the volatile market, BigONE recommends newcomers keep a level head.
Making money can be quite difficult, especially for newcomers during this difficult time. Nonetheless, everything you do now must be consistent, and you will see great outcomes in the end. With BigONE, you can be confident that your assets are secure, and we will always be there for you through thick and thin.
BigONE is a global cryptocurrency exchange that provides a platform for trading various cryptocurrencies. It was founded in 2017 and registered in the Netherlands. The group operates in Russia, Brazil, Vietnam, Seychelles, Singapore, Japan, and Indonesia, providing marketing, investment, and blockchain technology research & development.