7 Effective Ways to Trade Crypto for Beginners, Complete with Tips and Tricks

Bittime – Crypto has become one of the investment instruments that has been popular in recent years. For beginners, how to trade crypto is often confusing because there are many things that need to be considered.

If you are a beginner who wants to make money in crypto, but is confused about how to start trading in this ecosystem, this article was written especially for you. We will explain 7 steps for beginner-friendly crypto trading complete with tips and tricks.

Read this article to the end to properly understand how to crypto trading safely and still make lots of money.

How to Trade Crypto for Beginners

Investing in the crypto ecosystem is mushrooming these days. The reason is, crypto investment is the same as other high-risk investment instruments. You can make a lot of money and still protect your assets safely as long as you understand how to trade.

So, here are 7 ways to trade crypto that are friendly for beginners. Understand each step in detail.

1. Using Cold Funds

The first and foremost thing when starting to invest in any instrument is to use cold funds. What is meant by cold funds are funds that you have and will not be used to meet any needs in the next few years.

By using cold funds, you will not easily panic when the chosen crypto investment asset is not doing well.

Because the crypto market tends to fluctuate, so don't panic buying or panic selling when the market is red because you need the funds used for the investment.

2. Understand the Target Crypto Asset

Crypto trading is very easy to do when you understand the details of the crypto asset you choose. Well, for beginners, this might be confusing.

To find out the details and conditions of a crypto asset, such as Bitcoin, Ethereum, Solana, or other coins, you need to learn whitepaper they. In whitepaper, you can find out the amount of coin supply, what its tokenomics are, so you can do a fundamental analysis of the asset.

Also Read: Crypto Paper Wallet: Secure Offline Storage for Digital Assets

3. Create an Account on a Trusted Crypto Exchange Platform

The third step in how to trade crypto for beginners is to determine a trusted crypto exchange. There are many exchangers today. To make it easier, you can choose a native Indonesian crypto exchange, such as Bittime. 

Study the exchange in detail, from its security to the strength of its community.

At Bittime itself, you can carry out independent analysis of the market conditions for each coin using various indicators on the Bittime website. Bittime also has an active community network in Telegram groups with the help of Bittime operators who are always helpful and answer user questions at all times.

4. Make Deposits According to Your Ability

After determining the target crypto asset and which exchange you will use for trading, the next thing you have to do is look at the capabilities.

What this means is, even though the crypto asset you choose is on the rise, you have to know what your financial capabilities are.

By knowing this, you can estimate how much funds will be placed in that asset for investment.

5. Monitor the Crypto Market Regularly

As said before even markey crypto tends to fluctuate. The market can suddenly turn red even though the day before there were high profits. Don't panic because it is quite normal.

What you need to pay attention to is to monitor the market regularly. You can check on crypto exchange websites such as Bittime that provide it real time market checking feature for each coin.

6. Create a Good Investment Strategy

Don't forget to create a good investment strategy. For example, if you want to choose more than one crypto asset, you have to determine which asset to invest more money in with the potential for greater profits.

Also carry out a deposit strategy regularly so that there is good investment discipline. However, you also have to look at this deposit to see what the market conditions are like at that time.

7. Understand How to Read Crypto Asset Analysis

The final way to trade crypto is by learning how to read crypto asset analysis. This section is quite confusing for beginners, especially as there are many terms that need to be understood.

So, here you have to know what terms are used as indicators when analyzing the market for an asset, such as RSI, Bollinger Bands, MACD, and others. By knowing these indicators, you can understand the technicalities of an asset market.

Tips Aman Trading Crypto

As additional information, here are some tips that you need to consider. The following tips can give you a safe crypto trading experience, but still provide maximum profit.

1. Don't be That FOMO Person

FOMO by trading on trending crypto assets is something you should avoid when entering the crypto ecosystem. Crypto assets that are trending do not necessarily provide a guarantee of the stability of the asset's future condition.

So, you must study the asset's whitepaper before deciding to trade.

2. Trade with the amount according to your ability

Having a lot of cold funds does not mean allocating all of these funds for trading. That's not a wise move. Make a good strategy about your cold fund allocation and diversify your investments evenly.

3. Don't Panic Buying or Selling

The market is down doesn't mean you have to immediately sell the assets you own. Price fluctuations in crypto are normal. You have to pay attention to market conditions so that when you sell an asset, you can profit because the selling price is higher than when you bought it.

You shouldn't do it either panic buying when an asset is falling drastically. First pay attention to market conditions and carry out an analysis of the asset.

Also Read: Second Solana ETF Has Been Approved by the Securities Commission

Conclusion

Those are 7 ways to trade crypto that are friendly for beginners, complete with tips and tricks so that you can make more money from your crypto investments.

Don't hesitate to visit the Bittime website to find out the latest crypto market conditions. There are many article about the crypto ecosystem so you are always updated with various crypto projects.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn How to Buy Crypto on Bittime.

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.