Avoid These Common Cryptocurrency Trading Mistakes
It’s easy to create an account on Coinbase, Binance, or one of the many other cryptocurrency exchanges and start day-trading. In fact, it’s too easy, because it creates a false sense of confidence & security that may lead to making poor decisions with your money.

1. Crypto Trading Is Very Risky

Long-term bitcoin trend from CoinMarketCap

So starting out, my first piece of advice is to realize that cryptocurrency speculation is inherently a gamble, so don’t invest money you can’t afford to lose. The crypto market is highly volatile, and coin prices rise & fall on sometimes an hourly basis, driven by hype, news coverage, and a dozen other factors.

In the long-term chart for Bitcoin shown above, you can see massive gains & losses in value over a period of months that speculators can profit from. What you don’t see on this chart are the daily ups & downs that affect short-term day-traders, and that can be really dangerous.
['Tim Ventura']
['Technology', 'Trading', 'Cryptocurrency', 'Bitcoin', 'Crypto Market']