1. Understanding Cryptocurrencies
What are cryptocurrencies?: Digital assets that operate on blockchain technology and are used as a medium of exchange or store of value.
Types of currencies:
Major currencies: such as Bitcoin and Ethereum.
Altcoins: such as Cardano (ADA), Solana (SOL).
Stablecoins: such as USDT, pegged to the value of the dollar or other.
2. Types of cryptocurrency trading
Day trading: Buying and selling currencies within the same day to profit from price fluctuations.
HODLing: Holding currencies for a long period of time.
Futures trading: betting on the rise or fall of prices without owning the underlying asset.
Automated trading: Using trading robots to analyze the market and execute trades.
3. Analysis for decision making
Technical analysis:
Study charts and market patterns.
Indicators such as RSI, MACD, support and resistance lines.
Fundamental analysis:
Currency evaluation based on project, team, news, and partnerships.
4. Risk Management
Portfolio diversification: Do not put all of your capital in one currency.
Stop-Loss orders: to set maximum losses.
Determine the risk ratio: Do not risk more than 2-5% of your capital in a single trade.
5. Basic techniques
Digital wallets:
Hot Wallets: such as MetaMask and Trust Wallet.
Cold Wallets: such as Ledger and Trezor (for long-term secure storage).
Smart Contracts: The Foundation of Decentralized Applications (DeFi).
Staking: Earn returns from coins held.
6. Learning and practice
Start with a demo account if available.
Invest time in learning from trusted sources such as:
Educational sites (Binance Academy,).
Online courses.
Follow market news, as cryptocurrencies are highly affected by news.
7. High volatility
Cryptocurrencies are very volatile, which means they can either make big profits or make big losses.
It is important to be patient and not make emotional decisions.