#StartInvestingInCrypto

How to start investing in cryptocurrencies safely?

Cryptocurrency is full of mystery to many novices. The general public will think that cryptocurrency is very volatile and it is easy to make money. However, if you do not do research well, it is relatively easy to lose money.

In addition, through media exaggeration, it is often equated with fraud and money laundering, causing people to be afraid to enter this field.

Higher risk often leads to higher returns, especially if cryptocurrencies are in their very early stages.

1. Choose a trustworthy cryptocurrency exchange

First of all, the first step is to choose a safe and reliable exchange. Binance is a good choice. It has many customers, a very good trading environment, high liquidity and depth, and can satisfy all partners who have just entered this field.

Furthermore, Binance has a lot of products. In addition to spot, financial management, contract trading, and options, you can also find many potential new projects here. You can discover early opportunities for projects through LAUNCHPOOL and LAUNCHPAD. ​

In addition, Binance has very sufficient reserve funds and customer protection funds, which can protect the safety of customers' assets when major events occur.

2. Conduct detailed research on potential investment options

Doing planning and research before investing (DYOR) is the preparation work of every investor. Put a part of the investment funds into the cryptocurrency field, and this money must be funds that will not affect your life. When a loss occurs , it will not have much impact on life.

First of all, you can invest in several mainstream cryptocurrencies with large market capitalizations, such as BTC, ETH and BNB. They are relatively stable in the world of cryptocurrencies. For example, Bitcoin and Ethereum are supported by ETFs, and Binance Coin can participate in Binance There are many activities, and transaction fees can be discounted, and there are many empowerment and usage scenarios.

If you want to invest in a new project, please first study the project’s white paper, social media, token economics, and current market capitalization. Generally speaking, new projects with small market capitalization, low currency prices, and small issuance quantities will have greater returns. There is room for growth, but the relative fluctuations and risks will also be relatively large. Precise calculations must be made before investing. ​

Look for current hot projects and projects that are highly discussed, such as memes, AI, RWA tokens, etc. a while ago, and you have the opportunity to make good profits with high popularity.

Finally, in addition to analyzing projects, you must also learn the trading skills of technical analysis, learn what support, resistance, and trend lines are, why there are large fluctuations in demand and supply at these positions, and learn to find these important key entries. The position of the entry and exit will be very helpful for trading!

3. Store cryptocurrencies safely in a secure wallet

Take good care of your own cryptocurrency assets. Only by protecting your assets safely can we invest and trade with peace of mind.

Keep your account and password safe, and set up multiple protections, such as 2FA double verification. SMS, email, and authenticator are all indispensable. And save the blockchain address you often send and receive. Whenever you transfer money, check it multiple times. And make sure to use a matching blockchain.

Take good care of your WEB 3 wallet, make a backup or keep your mnemonic phrase, write it down on paper and keep it in an important place. Remember not to write it down on your computer or mobile phone to prevent the possibility of theft.

Ignore private messages and conversations from strangers, and do not install strange applications and software. Use the most original settings of your trading device as much as possible.

When you want to participate in decentralized interactions, you should also prepare several more wallets to isolate risks, such as financial wallets, game wallets, airdrop wallets, etc. ​

There are many early opportunities in the field of cryptocurrency. As time goes by, it will become more and more advanced and have more and more applications. If you keep learning every day and maintain awe of the market, I believe you can make progress in this field. Longer term!