Many newcomers believe that cryptotrading is something complex and incomprehensible, and only a few can learn it. In fact, this is not the case at all. The whole secret is to follow the simplest rules and understand the crypto market fundamentals. In other words, you need to learn to see the cause-and-effect relationship between events from the outside world and the price dynamics of cryptocurrencies. It is important to understand how the psychology of the market works and what traders are guided by when making transactions.
In this article, we will talk about useful resources that you can use to quickly learn the art of crypto trading. But before we start, you need to learn a few simple rules:
- Crypto trading carries high risk with it Even professional traders make losing trades – this is normal. There is not a single market player who always trade without losses. Mistakes help us grow professionally. It is important to follow risk management and not be afraid of losing money. Each loss-making trade is just a modest payment for an invaluable experience.
- It will take time to come to success. Remember one simple thing: crypto trading is based on calculations and statistics, not on faith or luck. If you approach trading as gambling, you will certainly get a negative result, and most likely lose your money. Every transaction must be thought through to the smallest detail. It will take a lot of practice before you become a crypto guru on the exchange. You will quickly learn the basics. But this will not be enough if you are going to cover a long distance.
So let’s get started.
Crypto Trading 101
This is a great section for beginners in crypto trading on the world-wide popular crypto news resource Coindesk. Here you will find the necessary materials for beginners and news that will be useful for you when analyzing the crypto market. The Crypto Trading 101 section explains the following to newcomers …:
- How to trade on various cryptocurrency exchanges;
- How to learn to read price charts;
- What are the resistance and support levels and how to determine them;
- Various podcasts about events from the world of the crypto industry and much more.
Everything is written in simple language and is clear even to a beginner.
TradingView
This is one of the most popular resources among traders not only in the crypto market, but also in traditional markets. Users share their trading ideas and analytics. You can read these materials for free. Traders do not just talk about their forecasts, but also explain in detail why it may happen one way or another.
It is assumed that you already have at least basic knowledge of trading to understand market processes. But you can use the resource at the very start of your training to test your hypotheses and compare them with the forecasts of professionals.
Cryptocurrency Wealth: How to Trade and Invest Like the Pros
Basic course on crypto trading from the famous Udemy online university. Experienced teachers will tell you about the basic principles of trading and explain everything in detail. From the course, you will learn how to work with various types of orders, how to determine signals for buying and selling cryptocurrencies. This course will be enough to start trading independently and get acquainted with the crypto market.
There are many different courses on the Udemy website dedicated to crypto trading for beginners, experienced traders and professionals. Here you can find courses for every taste and level of training.
Investopedia
This is one of the largest online resources dedicated to trading and investment. The site contains a lot of guides, analytical and informational materials to help newcomers and experienced investors. They have their own Academy, with which you can not only learn the basics of crypto trading, but also become a real pro.
The BitMEX Blog
BitMEX is a popular platform for trading cryptocurrency derivatives. If you don’t know what this is, then there is a good reason to look at the crypto exchange blog. But this blog is more suitable for those who are going to trade on this platform. This is not the only crypto exchange that practices this. If you are interested in a particular exchange, then pay attention to whether they have their own blog for crypto traders.
If you do not know how to trade yet, but want to do it, there is one great way. First, you should buy cryptocurrency as cheap as possible. Find a suitable exchanger or crypto exchange to buy BTC at a favorable price with minimal fees. In our blog, there are articles explaining how to buy bitcoin and other cryptocurrencies profitably.
After you have bought a cryptocurrency, you can sell bitcoin with profit using the HiRiBi website – a service that allows you to exchange BTC to PayPal USD at the highest rate. The exchange rate of HiRiBi is about 10% higher than on most exchanges. They have access to sites that not all users can use, but they have a high rate. Consider HiRiBi as a bridge between you and these platforms.
How do they manage to achieve this? In fact, they regularly monitor the cryptocurrency exchange rates on major trading platforms and thus can offer you the best rate. HiRiBi also has an affiliate program, so you can invite other users and earn up to 2% from each of their exchanges.
The main advantage of HiRiBi is that it is one of the rare services that support the PayPal payment system, which has a complicated relationship with cryptocurrencies. So go ahead and try it!
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