Hello @Berbat_off and hello community!
Being in the crypto-space for about 3 years now, I think I might be able to help you a bit!
Below I wrote a few guidance steps that you might find useful.
Finding your favorite coins:
First of all, you might want to take a look at Coinmarketcap (google it, I canāt include the link here) just to find out what the most popular cryptocurrencies are. Being a beginner, itās highly not recommended to invest in coins that are lower than the top 100; but as rule of thumb, investing in the coins closest to the first place (BTC) is the safest place to start, but will probably bring you the lowest ROI (return on investment), since a lot of money is already in those projects.
Make sure to look for the projects with great teams, that really solve some issues in the real world. The community behind the project is also very important, this are the guys that will add value to the coin, that will invest in the project, e.g the Trust community - growing and expanding every day.
Choosing an exchange:
Binance is definitely the most popular exchange and perhaps the most safe one, also having a vast variety of coins and supporting a lot of countries around the world. Since I can not include a link, you must find the safe site yourself! - I wrote safe because there are a lot of scam sites out there. Searching on Google for ābinanceā could redirect you to a similar scam site, that has a minor difference in the link that you might not observe, e.g biƱance - with a spanish āNā. Beware, a lot of people got fooled by this methods of scamming.
It is highly recommended that once you are on the right site you bookmark it, so youāll not lose it.
Also, I would really appreciate if you use my referral on Binance: 10893820
Indicators
Being myself a Technical Analyst (TA) geek, I highly recommend you to first learn about a couple of simple indicators before doing your first investment. Just google for ātrading volumeā, āRSIā and āMoving Averageā and youāll find a lot of useful infos. Investopedia is a great learning site for these matters. You donāt have to become a TA expert, just learn the basics, e.g increasing/decreasing volume, when the market is overbought/oversold, importance of moving averages. Also, the price action itself, the ātrendā, is very important - if not the most important.
After you register on Binance or other similar exchanges, youāll notice that there are charts included, where youāll be able to add/remove indicators and play with different charting tools. It takes some time to get around, but itās amazing.
Trading
Being at the beginning I recommend you to go with āSpot Tradingā:
ā¦since the other methods (Margin, Futures) involve money lending - which is not safe for a beginner. The crypto space is very, very volatile, much more than the traditional markets, so a +10% overnight is something quite usual here. Just donāt go all-in from the first trade; start with small amounts of money until you find your way around.
Future Steps
After you have seen how the market works (it takes at least 2-3 months, so take your time), you might want to start learning about smaller cap coins, Futures & Margin trading, more charting tools (definitely Fibonacci retracement) where and how to safely store your assets, which asset goes where (different blockchains) etc. Just take your time, this market can be life changing if you approach it the right way.
Community
I have a small request for the readers out there: please make sure to like this reply, so that other beginners can see it; it might really help them! Thank you!
Trade safe,
Aezakmi