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Guide to joining the cryptocurrency market for beginners

Cryptocurrencies, also known as cryptocurrencies, are now known as an investment channel next to securities, gold, foreign currencies, with high price

Cryptocurrency overview – challenges and opportunities

Cryptocurrencies, also known as cryptocurrencies, are now known as an investment channel next to securities, gold, foreign currencies, with high price movement margins, known as a super-profitable but also extremely risky investment channel. When investing in cryptocurrencies you can double, triple even triple your 10 accounts but also split your capital in seconds.

Risks when new cryptocurrencies market participants

Volatility with such a terrible margin is due to the cryptocurrency market being a small-cap market. The possession of a small capitalization makes the market susceptible to manipulation by sharks. In addition, the cryptocurrency market has not existed long enough for new enters to the cryptocurrency market to have enough confidence that will easily lead to extreme panic. On the contrary, another department that has entered the market before is too confident and has un immortal belief in the market that will trigger the arrogant mentality and then despair when the price falls deeply.

The outrageous confidence of investors in the cryptocurrency market causes prices to rise relentlessly, which triggers the crowd's fear of missing out on opportunities (FOMO) that causes prices to continue to rise unsustainablely. And then, when the supply and demand imbalance occurred, investors panicked to sell off causing cryptocurrency prices to fall freely without any buying force.

Possible risks when entering the cryptocurrency market

In addition to the psychological risks of trading,new cryptocurrencies market participants may also experience other risks that can lead to loss of money such as:
  • Coin exchange has a problem:Storing coins on the exchange has never been a safe solution for new cryptocurrencies market participants. The reason is that the exchange can be hacked at any time and our assets can be threatened.
  • Deposit and withdrawal:if you have no experience in using Blockchain wallets, deposits of coins to the exchange or withdrawal of coins from the exchange to the wallet may be flawed. If you have the wrong wallet address, you will lose money without being able to get it back.
  • Scams:the profits of some multi-level projects based on cryptocurrency vapor can completely make you lose your whiteness. Or crooks can trick you into taking your money with some other tricks like activating greed with valuable rewards to trick you into depositing cryptocurrency into their wallets.

Is investing in the cryptocurrency market profitable?

Although the risk is quite a lot, we cannot deny the potential when investing coins. So do coin beginners have a word? The answer is yes if you participate in the right stage of market growth. Just at the right time you buy anything, beat anything win.

What new people need to prepare for entering the cryptocurrency market

Basic knowledge will definitely be indispensable, whether in investment or in everyday life. Equip yourself with cryptocurrency knowledge from basic to advanced. Without too much haste, the market is still there and gives us opportunities.

Psychological knowledge when entering the market

The cryptocurrency market is one of the markets that best express human feelings of greed and fear. Let's learn to think calmly, steadfastly not to be caught up in the crowd mentality.

Knowledge of coin information search

If you're new to the market, you feel too alone standing in the middle of a jungle of information, then look for a team you can trust. These teams will provide you with information clearly. However, this will not necessarily be valuable information, we need to soberly screen the information.

If you work hard, you can search for information on Twitter, Telegram of the team developing cryptocurrency projects, whitepaper research of projects through the official website.

Coin market cap is also one of the effective tools to help you find which coins are in trend. Trend keywords are very important in investing in cryptocurrencies. Trending coins will usually rise very quickly. We need to know which ecosystem coin(Ethereum,Defi, Polkadot Ecosystem, Binance Smart Chain,...) and which system is trending and will allocate capital to the top coins in that system.

The form of searching for information about these coins can be called a basic form of analysis in coin investment. Gaining reliable information about cryptocurrency projects is important, it gives us firm confidence to be able to invest in that project in the long run, ignore short-term market fluctuations and believe in its strong growth in the future.

Learn the tools when investing in the cryptocurrency market

To be able to deposit or transfer money in the Blockchain network, you need to equip yourself with the skills to use blockchain wallets. The most popular wallet types today are Trust wallet, Metamask wallet, MyetherWallet wallet,...

To be able to trade or cryptocurrency trading, you need to open an account at exchanges such as Binance, Okex, Huobi,.... After opening an account, you must verify your identity and set up security methods to be able to operate on the exchange more securely.

In addition to traditional coin exchanges, you should also learn more about Dapps applications such as brokers that allow you to swap, stake, provide liquidity of coins. Typically, brokers such as Uniswap, Shushiswap, Pancakeswap,...

In short, you need to have some skills in using a computer to be able to manipulate in the safest way, avoiding the risk of sending the wrong wallet or buying and selling the wrong coin,...

Equipped with basic technical analysis knowledge

Although we do not need to know too much about technical analysis, we should learn about Japanese candlesticks and candlestick patterns. Resistance support thresholds are important to be able to guard the trade for reasonable reasons. Learn basic technical analysis skills according to price action or use simple indicators such as RSI,MACD, Boligerband,... combined with finding information about coins (fundamental analysis) will help you avoid the risks when you are new to the cryptocurrency market.

Capital preparation and capital management skills

The mistake of most coin investors is to overheat down the money without looking at the risks that cause us to lose money. If you have learned your knowledge and are willing to invest, now you can learn About Remitano and deposit Vietnamese money into the platform.

Now you can choose to buy USDT to reserve a nice opportunity to buy other coins that you think are potential. Or if you are looking to invest in top coins like Bitcoin or Ethereum, you can also choose to buy Bitcoin on Remitano in Vietnamese currency or buy ETH in Vietnamese currency on Remitano.

Profited coin investment methods

Profitable coin investment methods are one of the most important factors for you to succeed in the cryptocurrency market. If there is a good method plus a plan to analyze the information correctly and always follow it. You will definitely become consistent with the coin you invest in and when the market booms, the coins you trust will not disappoint you.

Enter the market in the form of hodl coin

Hold coin or hold coin is one of the safest and highest ROI methods in virtual currency investment. This is a form of storing one or more potential coins in the long term to eat the big waves of the market.

To be able to hodl coins, you need to have faith in the coin of your choice and have a solid mentality. However, in order to have that belief, we need to spend time studying the information about that project carefully. From technology, community to development team,....This is how you apply the basic analysis of cryptocurrency co-projects that I mentioned above.

Enter the market by trade coin

The form of trade coin is the same as hodl coin, which differs only in the investor's time target. If the hodl coin we hold a coin for several months to a year, then with trade coins investors only buy and sell during the day or for as long as a few days.

Currently, trade coin investment methods have become very popular in various forms such as trade margin,perpeptual contract ,....This is the form of using financial leverage to trade Bitcoin, Ethereum and altcoins with small capital to maximize profits.

However, if you are new to the cryptocurrency market, it is not recommended to use the trade coin method using the financial leverage. Unless you have equipped yourself with solid technical analysis skills and a trading mentality with absolute discipline accompanied by capital management skills to minimize risks to margin accounts.

Profited coin investment method with trade coin

Trade coin is suitable for short-term investors and does not have too much confidence in the growth of the cryptocurrency market. These investors can completely short in search of profit when the market is controlled by the bear faction (downtrend).

New people's mistakes when entering the cryptocurrency market

It can be said that the cryptocurrency market is a financial market where many people make the most mistakes because it always creates an unsymistous emotion for those who enter this market.
  • Too hasty to think buying is to have words: in fact, it is difficult for us to buy but have profit unless buying at the right time and in the right demand area of the market. Therefore, we need to wait patiently for the market, not too hot to lead to wrong decisions.
  • GREED (too greedy) when the market rises, FEAR (fear) when the market falls: this makes it easy to buy bottom selling peaks.
  • Trade coins use too high leverage without understanding the risks and methods of capital management that lead to account fire.
  • Chicken backing: beware of trade signal groups and alarms, most likely you are being pushed by chickens. Unxy communities often seek to admit members (new cryptocurrencies market participants) to help them push up the price of junk coins, and these groups will profit from you.
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