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Have you heard of DCA or Dollar-Cost Average?
This approach is said to be ideal for beginners, those who want to minimize risk, those with a small tolerance for the market's high volatility, small investors, and long-term investors, like those wishing to have a retirment fund.
What is DCA about?
The idea is for you to invest the same amount of money regularly paced. For example, let´s say to have 50 USD spare cash each month. As soon as you cash your paycheck, you buy 50 USD worth of your crypto of preference. You do that every month.
How does it work?
Easy peasy. Today 1 Solana is worth USD 137. Your 50 USD buy 0.36 Sol.
When you get your paycheck in May, 1 Solana is 250 USD. Your 50 buy 0.2 Sol
In June Solana is 122. You buy 0.40.
By the end of June you have 0.96 Sol bought at an average price of USD 169.
What´s so great about that?, you may ask. After all, if I buy at 122 I would get 1.22 Sol.
You're absolutely right. But, do you know when the price will plumet? Do you know when it is likely to go up? Do you have the time to constantly monitor the market so you don't miss the jackpot? Do you have the time and willingness to read the news constantly to try and anticipate a major change? Would you know how some event might impact the crypto world? Are you willing to spend hours learning how to read candlestick charts? Are you emotionally prepared to see your investment lose a half of its value for weeks at a time? That's what traders and brokers do. They have huge earnings, but huge loses too.
So, you can't anticipate when Sol is going to be 1232and when 250. Imagine you see your favorite crypto going down for hours. You want to buy more, but what is the price you want to pay? 200? Ok, you buy at 200 and then it ends up going down to 122. What if you wait till it gets lower than that, and then rises rapidly to 250 before you can buy? Bitcoin reached 60,000 yesterday and stayed there for less than 2 hours. those things happen.
What Dollar Cost Average does for you is make sure in the long run you are not buying at the highest prices. This approach yields more modest gains in comparison with good trades , though.So it is up to you to decide whether it is for you or not. Do your own research. If you want to read more, this is a good place to start: https://bitpay.com/blog/dollar-cost-averaging-crypto/
If you found this information useful, please hit the Like button. Thanks!
#Write2Earn #beginners #Newbies #newmembers #Dollarcostaverage
This approach is said to be ideal for beginners, those who want to minimize risk, those with a small tolerance for the market's high volatility, small investors, and long-term investors, like those wishing to have a retirment fund.
What is DCA about?
The idea is for you to invest the same amount of money regularly paced. For example, let´s say to have 50 USD spare cash each month. As soon as you cash your paycheck, you buy 50 USD worth of your crypto of preference. You do that every month.
How does it work?
Easy peasy. Today 1 Solana is worth USD 137. Your 50 USD buy 0.36 Sol.
When you get your paycheck in May, 1 Solana is 250 USD. Your 50 buy 0.2 Sol
In June Solana is 122. You buy 0.40.
By the end of June you have 0.96 Sol bought at an average price of USD 169.
What´s so great about that?, you may ask. After all, if I buy at 122 I would get 1.22 Sol.
You're absolutely right. But, do you know when the price will plumet? Do you know when it is likely to go up? Do you have the time to constantly monitor the market so you don't miss the jackpot? Do you have the time and willingness to read the news constantly to try and anticipate a major change? Would you know how some event might impact the crypto world? Are you willing to spend hours learning how to read candlestick charts? Are you emotionally prepared to see your investment lose a half of its value for weeks at a time? That's what traders and brokers do. They have huge earnings, but huge loses too.
So, you can't anticipate when Sol is going to be 1232and when 250. Imagine you see your favorite crypto going down for hours. You want to buy more, but what is the price you want to pay? 200? Ok, you buy at 200 and then it ends up going down to 122. What if you wait till it gets lower than that, and then rises rapidly to 250 before you can buy? Bitcoin reached 60,000 yesterday and stayed there for less than 2 hours. those things happen.
What Dollar Cost Average does for you is make sure in the long run you are not buying at the highest prices. This approach yields more modest gains in comparison with good trades , though.So it is up to you to decide whether it is for you or not. Do your own research. If you want to read more, this is a good place to start: https://bitpay.com/blog/dollar-cost-averaging-crypto/
If you found this information useful, please hit the Like button. Thanks!
#Write2Earn #beginners #Newbies #newmembers #Dollarcostaverage
hello people.
I had 2 open positions on binance futures, with SL on both as open orders.
i just opened binance now, and my SL are removed by themselves, but I still have the positions opened.
when i try to put SL again, this error keeps showing up.
what to do now?
#Helppost #needhelp #error #sl #Newbies
I had 2 open positions on binance futures, with SL on both as open orders.
i just opened binance now, and my SL are removed by themselves, but I still have the positions opened.
when i try to put SL again, this error keeps showing up.
what to do now?
#Helppost #needhelp #error #sl #Newbies
Gm everyone 🤝
Gm everyone 🤝 Newbies in the house, drop every questions in comment.I have some minutes to spare this morning.#TrendingTopic #Newbies #Question
Mastering Wise Crypto Trading: Strategies for Success
Introduction:
Entering the dynamic world of cryptocurrency trading can be both thrilling and challenging. With the right strategies, however, you can navigate the volatility and make informed decisions. In this article, we'll explore key principles to help you trade wisely in the crypto market.
Educate Yourself:
Before diving into trading, invest time in understanding the basics of blockchain technology, various cryptocurrencies, and market trends. Knowledge is your most potent tool in making informed and strategic decisions.
Set Clear Goals and Risk Tolerance:
Define your trading goals and determine the level of risk you are comfortable with. Establishing clear objectives will guide your decisions and help you avoid impulsive moves driven by market fluctuations.
Diversify Your Portfolio:
Avoid putting all your eggs in one basket. Diversification helps mitigate risks associated with individual assets. Consider spreading your investments across different cryptocurrencies to balance potential gains and losses.
Keep Emotions in Check:
Emotions can cloud judgment and lead to irrational decisions. Develop a disciplined approach by setting predefined entry and exit points. Stick to your trading plan, and don't let fear or greed dictate your actions.
Stay Informed:
The crypto market is highly sensitive to news and developments. Stay updated on industry news, regulatory changes, and technological advancements that may impact the market. This knowledge will enhance your ability to anticipate trends.
Use Technical Analysis:
Technical analysis involves studying price charts and market indicators to predict future price movements. Learn basic technical analysis tools to identify trends, support, and resistance levels, empowering you to make more informed trading decisions.
Practice Risk Management:
Implement risk management strategies, such as setting stop-loss orders, to protect your capital. Only invest what you can afford to lose, and avoid making high-risk trades without thorough consideration.
Choose Reputable Exchanges:
Select well-established and reputable cryptocurrency exchanges. Research the security features, fees, and available trading pairs. Using trustworthy platforms reduces the risk of fraud and ensures a smoother trading experience.
Learn from Mistakes:
Every trader faces setbacks. Instead of dwelling on losses, view them as learning opportunities. Analyze what went wrong, adjust your strategy, and apply the lessons to improve future trades.
Start Small and Scale Gradually:
Begin with a modest investment and gradually increase your exposure as you gain experience. This approach allows you to learn the intricacies of the market without exposing yourself to significant risks.
Conclusion:
Successful crypto trading requires a combination of education, discipline, and strategic planning. By staying informed, managing risks, and adopting a disciplined approach, you can navigate the crypto market wisely and increase your chances of long-term success. Remember, patience and continuous learning are key elements in mastering the art of cryptocurrency trading.
Ty for your amazing support, to continue our jounrey to be miloners dont forgot to follow and tip the creator, stay tuned for the next post guys, Happy trading.
#tradewisley #Newbies #DYOR🟢.
$BTC $ETH $BNB
Entering the dynamic world of cryptocurrency trading can be both thrilling and challenging. With the right strategies, however, you can navigate the volatility and make informed decisions. In this article, we'll explore key principles to help you trade wisely in the crypto market.
Educate Yourself:
Before diving into trading, invest time in understanding the basics of blockchain technology, various cryptocurrencies, and market trends. Knowledge is your most potent tool in making informed and strategic decisions.
Set Clear Goals and Risk Tolerance:
Define your trading goals and determine the level of risk you are comfortable with. Establishing clear objectives will guide your decisions and help you avoid impulsive moves driven by market fluctuations.
Diversify Your Portfolio:
Avoid putting all your eggs in one basket. Diversification helps mitigate risks associated with individual assets. Consider spreading your investments across different cryptocurrencies to balance potential gains and losses.
Keep Emotions in Check:
Emotions can cloud judgment and lead to irrational decisions. Develop a disciplined approach by setting predefined entry and exit points. Stick to your trading plan, and don't let fear or greed dictate your actions.
Stay Informed:
The crypto market is highly sensitive to news and developments. Stay updated on industry news, regulatory changes, and technological advancements that may impact the market. This knowledge will enhance your ability to anticipate trends.
Use Technical Analysis:
Technical analysis involves studying price charts and market indicators to predict future price movements. Learn basic technical analysis tools to identify trends, support, and resistance levels, empowering you to make more informed trading decisions.
Practice Risk Management:
Implement risk management strategies, such as setting stop-loss orders, to protect your capital. Only invest what you can afford to lose, and avoid making high-risk trades without thorough consideration.
Choose Reputable Exchanges:
Select well-established and reputable cryptocurrency exchanges. Research the security features, fees, and available trading pairs. Using trustworthy platforms reduces the risk of fraud and ensures a smoother trading experience.
Learn from Mistakes:
Every trader faces setbacks. Instead of dwelling on losses, view them as learning opportunities. Analyze what went wrong, adjust your strategy, and apply the lessons to improve future trades.
Start Small and Scale Gradually:
Begin with a modest investment and gradually increase your exposure as you gain experience. This approach allows you to learn the intricacies of the market without exposing yourself to significant risks.
Conclusion:
Successful crypto trading requires a combination of education, discipline, and strategic planning. By staying informed, managing risks, and adopting a disciplined approach, you can navigate the crypto market wisely and increase your chances of long-term success. Remember, patience and continuous learning are key elements in mastering the art of cryptocurrency trading.
Ty for your amazing support, to continue our jounrey to be miloners dont forgot to follow and tip the creator, stay tuned for the next post guys, Happy trading.
#tradewisley #Newbies #DYOR🟢.
$BTC $ETH $BNB
I want Every Expert on Binance Give one Advice to Newbies.
#Newbies #Advice #ExpertOpinions #BTC #NFP
#Newbies #Advice #ExpertOpinions #BTC #NFP
New to Binance?
Here’s what to do first: KYC.
And here’s how 🔽
What is KYC?
‘Know Your Customer' (KYC) is a process where you verify your identity on Binance. It's like showing your ID to prove who you are.
How to Complete KYC on Binance:
Log into Binance: Go to your account.Find KYC Verification: Look for the verification section. Provide Information: Give your name, address, and date of birth. Submit Documents: Upload a photo of your ID (like a passport or driver's license) and a selfie.
Wait for Verification:
Binance will check your documents. It usually takes a few days.Why is KYC Important?Security: It helps keep your account safe from fraud.Legal: Binance follows laws to prevent illegal activities like money laundering.
🙌🏻 Merits of KYC:
- Increased Limits: Verified accounts can withdraw and trade more.
- Access to Services: Some Binance services need KYC.
- Security: Reduces the chance of identity theft.
☠️ Demerits of KYC:
- Privacy Concerns: You share personal info with Binance.
- Time-Consuming: It takes time to get verified.
- Possible Data Risk: If Binance gets hacked, your data might be at risk.
Remember, KYC is a key step to securely use Binance and access all its features.
#binance #kyc #Newbies
Here’s what to do first: KYC.
And here’s how 🔽
What is KYC?
‘Know Your Customer' (KYC) is a process where you verify your identity on Binance. It's like showing your ID to prove who you are.
How to Complete KYC on Binance:
Log into Binance: Go to your account.Find KYC Verification: Look for the verification section. Provide Information: Give your name, address, and date of birth. Submit Documents: Upload a photo of your ID (like a passport or driver's license) and a selfie.
Wait for Verification:
Binance will check your documents. It usually takes a few days.Why is KYC Important?Security: It helps keep your account safe from fraud.Legal: Binance follows laws to prevent illegal activities like money laundering.
🙌🏻 Merits of KYC:
- Increased Limits: Verified accounts can withdraw and trade more.
- Access to Services: Some Binance services need KYC.
- Security: Reduces the chance of identity theft.
☠️ Demerits of KYC:
- Privacy Concerns: You share personal info with Binance.
- Time-Consuming: It takes time to get verified.
- Possible Data Risk: If Binance gets hacked, your data might be at risk.
Remember, KYC is a key step to securely use Binance and access all its features.
#binance #kyc #Newbies
Tic Tac, Tic Tac, On March 18th at exactly 12:00 PM (UTC), Binance will kick off trading for ETHFI, and... I know, there's a lot of hype. This means that ETHer.fi will be listed on Binance at 12:00 PM (UTC) on March 18th.
HOW do you get it? You MUST wait until 12 PM (UTC). You cannot get it outside of Binance. Do not be scammed!
If you're part of the #Newbies crew, I know you're itching to buy the cryptocurrency as soon as it's out to sell it for a big profit! Woo-hoo! But hey, be cautious, mastering volatility is key.
Cryptocurrency launches are a big deal on your journey to mastering this type of investment. There will be anxiety... if you're on your phone, I wouldn't recommend trading. One wrong move of the finger or choosing the wrong option can lead to failure (and losing money). In the psychology of novice traders, losses hit harder than the wallet.
What's expected price at 12pm UTC ?
I've also been asked about the listing price for ETHFI on Binance. By correlating #AEVOTrading with the known data and knowing it was listed at $1, I could project that #ETHFI might list above $5... but remember, this is just a rough estimate, and the actual price can vary depending on various market factors at the time of launch.
HOW do you get it? You MUST wait until 12 PM (UTC). You cannot get it outside of Binance. Do not be scammed!
If you're part of the #Newbies crew, I know you're itching to buy the cryptocurrency as soon as it's out to sell it for a big profit! Woo-hoo! But hey, be cautious, mastering volatility is key.
Cryptocurrency launches are a big deal on your journey to mastering this type of investment. There will be anxiety... if you're on your phone, I wouldn't recommend trading. One wrong move of the finger or choosing the wrong option can lead to failure (and losing money). In the psychology of novice traders, losses hit harder than the wallet.
What's expected price at 12pm UTC ?
I've also been asked about the listing price for ETHFI on Binance. By correlating #AEVOTrading with the known data and knowing it was listed at $1, I could project that #ETHFI might list above $5... but remember, this is just a rough estimate, and the actual price can vary depending on various market factors at the time of launch.
LIVELocademiaCripto
--
Launchpool? It's done, bye bye #Launchpool
If you manually allocated $BNB and/or $FDUSD to the event, now 100% of your cryptocurrencies are in SPOT. You have BNB and/or FDUSD sitting in your spot wallet doing nothing. Both of them, you can allocate them to Binance Earn to put them to work and earn #PassiveIncome . Do it as soon as you read this, don't put it off for later!
You'll also have the brand new crypto #ETHFI in your spot wallet, which currently worths $ ZERO. That means right now, you can't sell it (or buy it). You can't do ANYTHING with it! Don't get nervous! Be patient!
🚀 On March 18th, at 12 PM (UTC), ETHFI will appear in the spot trading options, allowing you to trade. 🔥 That's when the cryptocurrency will have value, allowing you to sell (and also buy more).
If you manually allocated $BNB and/or $FDUSD to the event, now 100% of your cryptocurrencies are in SPOT. You have BNB and/or FDUSD sitting in your spot wallet doing nothing. Both of them, you can allocate them to Binance Earn to put them to work and earn #PassiveIncome . Do it as soon as you read this, don't put it off for later!
You'll also have the brand new crypto #ETHFI in your spot wallet, which currently worths $ ZERO. That means right now, you can't sell it (or buy it). You can't do ANYTHING with it! Don't get nervous! Be patient!
🚀 On March 18th, at 12 PM (UTC), ETHFI will appear in the spot trading options, allowing you to trade. 🔥 That's when the cryptocurrency will have value, allowing you to sell (and also buy more).
#Newbies HOW TO KNOW WHICH COIN TO INVEST
Straight to the point. Use 80 facts and 20% guts. There is no absolute “how” to know which coin to invest in.
But, there is hope. Be abreast with latest news and in which particular industry. Example, these days the use of Artificial Intelligence (Ai) seems to be on the rise. This means you may have to read news on which aspect of Ai seems to be patronised more. It spans from equipments, programming, games, projects and who uses automation and in what season? Researching on these could inform you which crypto coin is related to what you research on. Analyse yourself and use that 20% guts to buy your chosen coin and keep monitoring the news. You never know. He who dares, wins.
I will break this down in my subsequent posts. If you find this interesting, hit the follow button and ask any question on crypto in the comments below.
Bottomline, hold on to your assets and read current news before deciding to trade.$BTC i got my eyes on #SPELL/USDT
Straight to the point. Use 80 facts and 20% guts. There is no absolute “how” to know which coin to invest in.
But, there is hope. Be abreast with latest news and in which particular industry. Example, these days the use of Artificial Intelligence (Ai) seems to be on the rise. This means you may have to read news on which aspect of Ai seems to be patronised more. It spans from equipments, programming, games, projects and who uses automation and in what season? Researching on these could inform you which crypto coin is related to what you research on. Analyse yourself and use that 20% guts to buy your chosen coin and keep monitoring the news. You never know. He who dares, wins.
I will break this down in my subsequent posts. If you find this interesting, hit the follow button and ask any question on crypto in the comments below.
Bottomline, hold on to your assets and read current news before deciding to trade.$BTC i got my eyes on #SPELL/USDT
Finally Got accepted as a Binance feed Creator 😊 Thankyou Binance Feed Team 🥰
#Newbies #BinanceTournament #Binancefeed
#Newbies #BinanceTournament #Binancefeed
Stop learning the hard way. Get crypto knowledge first then trade. Or you will end up loosing and quitting
#Newbies
#Newbies
Crash course in Bitcoinology
Alright, listen up, you are surely one of the #Newbies ! If you're new to the crypto scene, it's high time you start paying homage to the OG of the game - Bitcoin. It's like learning the ABCs before you dive into Shakespeare, ya know what I mean? So buckle up, buttercup, 'cause we're about to take a crash course in Bitcoinology! 🚀
I'll give you a little statistics and history:
Whoa, $BTC was at $16,500 on January 1, 2023!Can you believe it? By January 1, 2024, $BTC had shot up to $42,000!Crazy, right? March 14, 2024, saw $BTC hitting $70,000.
What's the deal with $BTC being over $70,000?
Right now, there's about 19.6 million BTC out there. If we multiply that by 70,000, we get a whopping $1.372 trillion market cap for $BTC . That's some serious cash!
Is $1.4 trillion a lot?
With that value, Bitcoin becomes the eighth-largest asset in the world, even beating out silver ! If we split up all the $BTC among everyone on the planet, each person would get around $170. And if you wanted to spend that kind of money over 50 years, you'd have to fork out nearly $77 million every single day.
📊 So, what happened last time $BTC hit a new all-time high?
Back in December 2020, $BTC broke its previous ATH of $20,000, set three years earlier.
👉 22 days later, the price doubled.
👉 67 days later, it tripled.
Can you believe just last month we were partying over hitting $50,000?
Wild, huh?
WELCOME TO THE JUNGLE ! Crypto Jungle ! 🚀
___
#BTC #HotTrends
I'll give you a little statistics and history:
Whoa, $BTC was at $16,500 on January 1, 2023!Can you believe it? By January 1, 2024, $BTC had shot up to $42,000!Crazy, right? March 14, 2024, saw $BTC hitting $70,000.
What's the deal with $BTC being over $70,000?
Right now, there's about 19.6 million BTC out there. If we multiply that by 70,000, we get a whopping $1.372 trillion market cap for $BTC . That's some serious cash!
Is $1.4 trillion a lot?
With that value, Bitcoin becomes the eighth-largest asset in the world, even beating out silver ! If we split up all the $BTC among everyone on the planet, each person would get around $170. And if you wanted to spend that kind of money over 50 years, you'd have to fork out nearly $77 million every single day.
📊 So, what happened last time $BTC hit a new all-time high?
Back in December 2020, $BTC broke its previous ATH of $20,000, set three years earlier.
👉 22 days later, the price doubled.
👉 67 days later, it tripled.
Can you believe just last month we were partying over hitting $50,000?
Wild, huh?
WELCOME TO THE JUNGLE ! Crypto Jungle ! 🚀
___
#BTC #HotTrends
Hello Binance! I am a new trader. Do you have any suggestions on how I can grow my portfolio, what to learn, and how to become a consistent and profitable trader?
#Newbies #ProfitableTrade #EthereumInvestment
#Newbies #ProfitableTrade #EthereumInvestment
Retracement before the drop 💧, institutional volumes are massive, retracement to ~69k then we go to support 60k.
short term ; quick bull (retracement phase)
mid term : bear (position sizing average sells)
long term : bull (Retest at resistance)
Newbies : Do not fomo into the market
#PerspectiveIsEverything #Bitcoin❗️ #BitcoinHalvingTrends #Newbies #Write2Earrn
short term ; quick bull (retracement phase)
mid term : bear (position sizing average sells)
long term : bull (Retest at resistance)
Newbies : Do not fomo into the market
#PerspectiveIsEverything #Bitcoin❗️ #BitcoinHalvingTrends #Newbies #Write2Earrn
Hey, Newbies!
Have you been farming OMNI?
you still have time to get some free #OMNILAUNCHPOOL #newmembers #Newbies #write2earn🌐💹
Have you been farming OMNI?
you still have time to get some free #OMNILAUNCHPOOL #newmembers #Newbies #write2earn🌐💹
I never thought i could be this emotional, since your indictment by the US court I have lost the passion and zeal for crypto. I am just struggling to remain here. I wish I have the powers, I would have waved all the protocol. Meanwhile, I wish you safe vindication and a bright future. I love your person @#CZAndBinanceForLife . You will remain a great motivation and inspiration to me and all upcoming crypto investors #Newbies
To All new traders out there,
I know it is more often hesitative decision whether i should go for my first trade myself or wait. Please first things you should keep in your mind never give your money to someone you don't know personally. I know greed makes one to take such decisions but remember 99/100 are scammers.
It would be a lot more productive id you learn how to trade yourself. Basic concept of trading is at the end of each trade closed..you are on the profit side.
#Newbies #learntoearn
I know it is more often hesitative decision whether i should go for my first trade myself or wait. Please first things you should keep in your mind never give your money to someone you don't know personally. I know greed makes one to take such decisions but remember 99/100 are scammers.
It would be a lot more productive id you learn how to trade yourself. Basic concept of trading is at the end of each trade closed..you are on the profit side.
#Newbies #learntoearn
