How to Trade Crypto Responsibly
Trading responsibly should be your top priority when buying or selling crypto. Much of trading responsibly comes from proper planning. Creating a trading plan can help keep you accountable for your actions later on.
No matter how much you’re trading, it’s best practice to make sure you’re doing so responsibly. With simple tips and methods, you can reduce unnecessary risks and make sure you’re only trading what you can afford to lose.
1. Create a trading plan
-> The best way to not let your emotions interfere with your trading is to create a plan and stick to it. This way, sudden gains, losses, rumors, or FUD can’t disrupt your decision-making
2. Use stop-limit orders
-> You can easily use stop-limit orders on Binance for greater control over your trading. You can’t always be at a screen 24/7, and with crypto being so volatile, you can be left with unexpected losses.
3. Diversify your portfolio
-> You should cover portfolio diversification to reduce your risk. Holding just one or two assets in your portfolio tends to be riskier. As such, you can diversify your holdings by investing in different assets across multiple asset classes.