Thank you to everyone who subscribed and left comments under the previous articles. Today, I want to give a few recommendations for those who are just starting their journey in the world of cryptocurrencies.
Bitcoin as a symbol of great opportunities, but also great risks.
For many beginner traders, #Bitcoin is something amazing, cool, embodying the possibilities of large earnings. The price increase over the past couple of months inspires, and many strive to get their share of the profits. However, it is worth remembering: to earn on Bitcoin, especially for beginners, you need to approach it consciously.
Options:
1. Having $50 and using high leverage (30-100x), you can trade Bitcoin futures, but this is an extremely risky path that often ends in capital loss.
2. With the same $50, start with a lower leverage, for example, x2. After understanding the mechanics of trading and gaining confidence in your actions, you can try to increase the leverage to x5 or x10.
3. Having a larger capital (from $1000 to $10,000), trading opportunities expand, but without a competent approach, the risk remains high.
The essence is that to work with Bitcoin, a starting capital is needed that will allow you to earn a decent profit. In the spot market, you can buy an asset and hold it in anticipation of growth, but this is a long-term strategy that requires patience.
Alternative assets: less risk to start.
For beginners with a small budget, there are other options. Besides Bitcoin, there are more affordable altcoins, such as $PEPE, $DOGE, $NEIRO, $LINK, and others. These assets are cheaper and allow you to understand the principles of how the market works. Moreover, their volatility can provide opportunities to earn without using high leverage.
It is important to understand that these are not 'magic' coins that guarantee income, but simply more accessible tools that allow beginners with a small capital to start with minimal risks and accumulate experience.
Common mistakes of beginners: striving for quick earnings.
Often, beginners come to the market with a small capital and immediately seek to trade futures, hoping for quick and large profits using high leverage. Yes, some manage to enter successfully, and the market brings profits. But in most cases, such a strategy leads to position liquidation, and the trader is left with nothing. Disappointment arises, and the exchange is perceived as the cause of losses.
My advice is not to strive for quick earnings. First, calculate how much you earn per hour at your main job. Divide your monthly salary by the number of working days and set a goal — how much you want to earn per day from cryptocurrency. For a beginner trader, $10-20 a day is a good result. This will help avoid excessive risks and develop a calm, rational approach to trading.
Conclusion: a rational approach to risk and capital management.
Try to focus on small but stable successes, starting with small amounts. Gradually develop and study the market: news, trends, candlestick patterns, and indicators. Learn the functionality of the platform and how to use the main tools.
And most importantly — approach cryptocurrency trading with a cool head. Good luck on your path to stable income!
