Three important steps for those who have just started investing in cryptocurrencies:
1. Study the market:
- Before investing, study the basics of cryptocurrencies, blockchain, and how exchanges and digital wallets work.
- Research the main cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), as well as smaller projects. Evaluate the history, purpose, and use of these currencies.
- Be aware of the risks and volatility of the market.
2. Choose a reliable exchange and create an account:
- Select a reliable and secure trading platform that has good reviews and offers customer support.
- Check the costs, such as transaction and withdrawal fees, and the variety of cryptocurrencies available.
- Complete the identity verification required by the platform to ensure the security of the account.
3. Define a budget and investment strategy:
- Invest only what you can afford to lose, due to the high volatility of the market. - Set clear goals (short, medium or long term) and define the initial amount to be invested.
- Consider strategies such as DCA (Dollar-Cost Averaging), which consists of investing fixed amounts regularly, reducing the impact of volatility.
These steps will help you start more safely and avoid common silly mistakes at the beginning.
