The Cryptocurrency market has been expanding incredibly and is valued at 1.49 billion USD as of 2020. If it continues to boom at the same speed, it is expected to reach the $5 billion mark by 2030. Given the volatility of the Crypto coins, a Crypto trader can benefit from large price movements of different digital currencies every day. 1. Don’t hold altcoins too longAn altcoin is a digital currency that is not Bitcoin. Most altcoin prices are dependent on Bitcoin’s market price as they are considered a less expensive Bitcoin alternative. Since the market prices of Bitcoin and altcoin are relative, it is advised to not hold altcoins for too long. This is because Bitcoin prices are projected to continue rising in the coming years. The rising Bitcoin price will eventually drive down the prices of altcoin, which could lead to potential losses.2. Prepare for a volatile marketThe Cryptocurrency market is one of the most volatile markets worldwide. This is mainly because it is an unregulated market, which means no government or economic health of a country affects its price. The Crypto market has experienced extreme highs and lows in recent years. As a result, a beginner Crypto trader needs to be cautious when entering the market.3. Research about each digital tokenOver 6,000 digital currencies are floating in the Cryptocurrency market as of 2021. However, there are some digital currencies that are not as stable as others. Avoid getting into a rug pull by researching their backgrounds before investing. Read about when the token was launched, who or what backs it, historical price fluctuations, and future projections.4. Avoid FOMOFear of missing out (FOMO) has a strong existence in the Crypto market. Most beginner traders impulsively invest in Crypto because of FOMO. However, investing in an asset without proper research and a solid trading strategy is never advisable. When more buyers enter a trending market, prices increase even further. However, prices fall just as quickly because the highest price level is not the actual price point.5. Diversify your portfolio with different tokensIn Cryptocurrency trading, it is ideal to have a few tokens along with Bitcoin in your portfolio. This is to mitigate risks and maximise potential profits. Diversifying your portfolio will allow you to enjoy potential gains through altcoins whenever the price of Bitcoin falls.6. Buy the dip wiselyMost beginners tend to buy heavy quantities of a coin just because its prices are low or affordable. However, when you invest in Cryptocurrency, you should focus on the token’s market cap more than your affordability. It is ideal to have 10 $100 coins instead of having 1,000 $1 coins, provided the market cap and stability of the $100 coin is better. A market capitalisation of a digital currency could mean that it is a better investment.7. Set profit targets and use stop-loss ordersIdentify stop-loss levels for your trade to lock in potential profits and limit losses. Most traders set stop-loss orders at the purchase price so if prices fall lower than that level, the order is triggered. You may also set your profit targets the same way. For example, as soon as your token reaches your target price, go short to lock in your gains.8. Consider investing in common CryptocurrenciesMost traders buy and hold reputable Cryptocurrencies like Bitcoin and Ethereum long-term. One should consider holding these tokens because their prices tend to increase over time. Bitcoin is known for its high volatility. This is why experienced investors now prefer holding the token for at least 1 year to gain significant profits. 9. Focus on blue-chip tokensA blue-chip Crypto is stable and has a reasonably well market cap with high liquidity. The Cryptocurrency market, like any other market, includes penny coins, mid-cap tokens and blue chips. Blue-chip coins cost more but provide more liquidity and stability. Penny coins and mid-cap coins might look more tempting because of their low prices, but it is more ideal to invest in coins that contribute to the overall market sentiment. 10. Always keep an eye on Cryptocurrency news and global developmentsBe updated on the latest Cryptocurrency news in and outside your country. This is because some news affect market price fluctuation. Global developments also impact prices regardless of where you are trading from. For instance, the recent Facebook rebranding to the name Meta drove up the price of Decentraland MANA by 400% in 48 hours. Knowing news about Crypto and regular global changes can help you always stay ahead.#crypto #cryptocurrency!!! #cryptotips