5 TRADING TIPS FOR CRYPTO-NEWBIES

For several people, all the talk about cryptocurrency is quite confusing. The terminology looks strange, and they cannot relate/understand what all the fuss is. We have compiled a list of helpful information for any newcomer that is interested in crypto:

1. Invest what you can afford to lose.

It is the most important rule of any investment. It is the cardinal rule. It seems like a no-brainer, but a lot of people forget this simple rule. Do not invest any money that you cannot afford to lose. You could lose the money you have put in crypto to market dips or government policies.

If you start to consider investing any money that you cannot afford to lose, you should pause and re-evaluate your monetary situation.

2. Do not be motivated by greed to invest blindly.

As a coin grows and we start to see the profit, its easy to want to keep waiting for longer for it to get to a higher point. If you wait too long to get out at a higher point, you can lose your already earned profit or even a part of your original amount. It can make you prey to those who would exploit the fact that you are less-informed. A good investor does his/her research so that you are fully responsible for any outcomes.

3. Choose a relatively stable Altcoin.

Some altcoins end up losing value over a period. It often happens in an unusually short time. Whenever you hold an altcoin for the long term, you should be careful not to hold on to it for too long. You can find out the best altcoins for long term investments buy checking out their daily trading volumes.

4. Always learn from your mistakes.

As a newbie, you are going to make some mistakes, always try to evaluate the situation and discover why it happened. You should be able to learn from that experience and make fewer errors because you now know more than you previously did. Do not be discouraged by the losses because, in reality, they make you better.

5. Look out for obvious signs of a scam

Cryptocurrency is not a get rich quick scheme. Avoid schemes that tell you to invest a certain amount of money to get a certain amount of money back. Also, avoid pyramid schemes as they are not sustainable. According to Wikipedia,

Pyramid schemes are business models that recruit members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services. As recruiting multiplies, recruiting becomes quickly impossible, and most members are unable to profit; as such, pyramid schemes are often illegal.

An ICO that promises “guaranteed returns” on their investment is a scam. There are no guarantees in the crypto world.

This list is not exhaustive. Always do your research before you start to put your money in any cryptocurrency and use an exchange that you can trust, like Busha. You can buy crypto on Busha in 3 easy steps:

• Firstly, you open up an account on the Busha app or website.
• Secondly, fund your account with fiat
• Lastly, buy cryptocurrency and begin trading in minutes.