DYOR stands for "Do Your Own Research," and it is important while investing in crypto for several reasons:

Crypto is a highly volatile and speculative market: The value of cryptocurrencies can change rapidly, and the market is subject to sudden and drastic fluctuations. Therefore, it's essential to do your research and understand the risks involved before investing your money.

Crypto is a complex and technical field: Cryptocurrencies are built on complex technologies, such as blockchain, and understanding these technologies requires a significant amount of technical knowledge. Therefore, it's important to educate yourself on the subject to make informed decisions.

There are many scams and fraudulent projects: The lack of regulation in the crypto industry makes it a breeding ground for scams and fraudulent projects. By doing your research, you can identify potential scams and avoid losing your money.

No one can predict the market: While many people in the crypto industry make predictions about the market, no one can accurately predict the future. Therefore, it's important to do your research and make informed decisions based on your own analysis.

In summary, doing your own research before investing in crypto is crucial to minimize risks, avoid scams, and make informed decisions. It is an essential step for anyone interested in investing in cryptocurrencies. 

#feedfeverchallenge #Binance #dyor #tradesmokers

When #ElliottWave Theory is used to find entry points into #tradesmokers , the most obvious signal is the formation of an impulse movement from the point at which the trend reverses.

If an uptrend is involved, the entry into the position is made in one of the three impulse waves.

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It is best to wait until the first correction is complete after identifying the impulse wave, and then open a deal on the trend.

Two methods can be used in this case:

Conservative - an order to buy is opened after the correctional movement is completed, at the level of the end of the 5th wave. Through the beginning of the first and the end of the second wave a signal line is drawn, in case of return of the rate to which the transaction is closed. The repeated opening is made on the top of a new maximum after the correction of the signal line.

Moderate - the initial conditions for opening a deal are similar to the conservative method, but the buy order is placed at the level of the end of wave B. Further actions are similar - if necessary, the deal is closed, and the signal line is corrected.

Also, sometimes an aggressive method of entering a position is used, which consists in opening a deal after the signal line breakdown. It is believed that such an event indicates the beginning of the formation of a new impulse pattern.

Binance Launches New NFT Marketplace

Binance, the world's largest cryptocurrency exchange, has launched a new non-fungible token (NFT) marketplace. The marketplace, which is currently in beta, allows users to buy, sell, and trade NFTs.

The Binance NFT marketplace offers a wide variety of NFTs, including digital artworks, collectibles, and gaming items. Users can purchase NFTs with a variety of cryptocurrencies, including Binance Coin (BNB), Bitcoin (BTC), and Ethereum (ETH).

The Binance NFT marketplace is a significant development for the NFT ecosystem. Binance is one of the most popular cryptocurrency exchanges in the world, and its entry into the NFT market is likely to drive adoption of NFTs.

Here are some of the key features of the Binance NFT marketplace:

Wide variety of NFTs: The Binance NFT marketplace offers a wide variety of NFTs, including digital artworks, collectibles, and gaming items.

Multiple payment options: Users can purchase NFTs with a variety of cryptocurrencies, including Binance Coin (BNB), Bitcoin (BTC), and Ethereum (ETH).

Low fees: Binance charges low fees for NFT transactions.

Security: Binance is a reputable exchange with a strong track record of security.

The Binance NFT marketplace is a new and exciting development for the NFT ecosystem. If you are interested in buying, selling, or trading NFTs, the Binance NFT marketplace is a great place to start.

Here are some additional details about the Binance NFT marketplace:

Beta launch: The Binance NFT marketplace is currently in beta. This means that it is still under development and may not be fully functional.

Limited availability: The Binance NFT marketplace is currently only available to users in select countries.

Future plans: Binance has plans to expand the Binance NFT marketplace to more countries and to offer additional features and functionality.

#BinanceTournament #nftmarket #marketplace #tradesmokers

Introduction: Cryptocurrency trading can be exciting and profitable, but it also comes with risks. To help you succeed and protect your investment, it's crucial to manage risks properly. In this easy-to-understand guide, we'll provide you with simple tips to make successful cryptocurrency trades while keeping your risks in check.

Learn Before You Leap: Before you start trading cryptocurrencies, take the time to learn about the market, different cryptocurrencies, and how they work. Understand the basics and what factors affect their value. Stay updated with the latest news and developments in the crypto world. The more you know, the better decisions you can make.

Set Goals and Make a Plan: Decide what you want to achieve with your trading and create a plan. Are you looking for quick gains or long-term investments? Once you have a clear goal, develop a strategy that fits your objective. Consider things like when to buy and sell, how much risk you're comfortable with, and the timeframe you want to trade in. Having a plan will help you stay focused and avoid making rash decisions based on emotions.

Start Small and Diversify: When you're just starting, it's a good idea to invest a small portion of your money. This way, you can learn without risking too much. Also, don't put all your eggs in one basket. Invest in different cryptocurrencies instead of just one. This spreads your risk, so if one performs poorly, it won't hurt your entire investment.

Protect Yourself with Stop-Loss Orders: Using stop-loss orders is an important way to manage risk. A stop-loss order is like a safety net that automatically sells your cryptocurrency if the price drops to a certain level. By setting a stop-loss order, you limit your potential losses. Decide on a reasonable price point below your buying price to minimize your risk and protect your investment.

Weigh the Risks and Rewards: Before making a trade, consider the potential risks and rewards. Think about how likely it is that you'll make a profit versus the possibility of losing money. It's best to aim for trades where the potential reward outweighs the potential risk. This means you have a better chance of making money overall, even if some trades don't go as planned.

Use Charts to Make Informed Decisions: Charts and technical analysis can help you understand patterns and trends in cryptocurrency prices. Look at historical data and use tools and indicators to get insights into market trends. While it's not foolproof, analyzing charts can give you more information to make smarter trading decisions. Just remember to consider other factors as well.

Manage Your Portfolio: Be smart about how you allocate your money. Don't invest everything in one cryptocurrency. Set a limit on how much you're willing to invest in a single cryptocurrency to reduce your risk. Regularly review and adjust your portfolio to keep it balanced. Consider using a secure wallet to store your cryptocurrencies.

Keep Emotions in Check: Emotions can cloud your judgment and lead to poor decisions. Stay disciplined and don't let fear or excitement drive your trading choices. Stick to your plan and avoid making hasty decisions based on short-term price changes. Sometimes, taking a break during volatile periods can help you stay calm and make better decisions.

Conclusion: Successful cryptocurrency trading requires knowledge, planning, and risk management. By learning, setting goals, diversifying your investments, using stop-loss orders, assessing risks and rewards, analyzing charts, managing your portfolio wisely, and controlling your emotions, you can improve your chances of making profitable trades while minimizing risks. Just remember that cryptocurrency trading is volatile, and there are no guarantees. Always be cautious and make informed decisions.

#feedfeverchallenge #Binance #tradesmokers

Bitcoin Pizza Day

Bitcoin Pizza Day is a day when people celebrate the use of Bitcoin to buy a physical good or service. It happens every year on May 22.

In 2010, someone named Laszlo Hanyecz paid 10,000 Bitcoins for two pizzas from Papa John's. At the time, this was worth about $41. But now, those same 10,000 Bitcoins would be worth over $600 million!

Bitcoin Pizza Day is a reminder of how far Bitcoin has come since its early days. It's also a time for people to come together and celebrate their shared passion for Bitcoin.

There are many ways to celebrate Bitcoin Pizza Day. Some people like to go out to pizza places and pay with Bitcoin. Others like to hold pizza parties and learn more about Bitcoin. Still others like to donate to charities that accept Bitcoin.

No matter how you choose to celebrate Bitcoin Pizza Day, it's a day to remember the early days of Bitcoin and to celebrate the progress that has been made since then. It's also a day to come together as a community and to share our passion for Bitcoin.

#binancepizza #tradesmokers