Where do you recommend starting?

Hi, everybody. :slightly_smiling_face: Friends, I also want to start my way into the crypto industry. Here is only not know with what start, that would gradually and evenly delve into all the subtleties. I have 2 direction vectors:

  1. buy coins and hold with the hope of price growth.
  2. it is possible to trade.
    How and where did you start?
    And where do you recommend starting?
    Maybe there are links to good and understandable sources of information or something else. Thank you in advance)
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First u need to pay very close attention when u Google crypto currency know what is btc and how it all started thats the very first step I did ,then you think of getting your verification documents ready ,then think of buying btc on binance with your credit card is all a step at a tìme and u need read carefully to understand how to sell when to sell it and when to buy and other altcoins to follow

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Deep research first. Buy some coins or tokens, either for investing or for trading

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Hello @Berbat_off and hello community! :v:

Being in the crypto-space for about 3 years now, I think I might be able to help you a bit!:slight_smile:
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 can’t include the link here) just to find out what the most popular cryptocurrencies are. Being a beginner, it’s 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 “binance” could redirect you to a similar scam site, that has a minor difference in the link that you might not observe, e.g biñance - with a spanish “N”. 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 you’ll not lose it.
Also, I would really appreciate if you use my referral on Binance: 10893820 :slight_smile:

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 “trading volume”, “RSI” and “Moving Average” and you’ll find a lot of useful infos. Investopedia is a great learning site for these matters. You don’t 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 ‘trend’, is very important - if not the most important.
After you register on Binance or other similar exchanges, you’ll notice that there are charts included, where you’ll be able to add/remove indicators and play with different charting tools. It takes some time to get around, but it’s amazing. :slight_smile:

Trading

Being at the beginning I recommend you to go with “Spot Trading”:

…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 don’t 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 :v:

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

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Suggestions on platform for margin demo trading cus I’ve not been satisfied with ones I’ve come across. I
Can I add up?

Wonderful information available for you to start with

Thank you all so much for your advice and feedback!) I am from Russia and use a translator, so my messages may be strange)))

Yes, friend, you certainly painted well!) Thank you for the time spent on this, low bow) on Binance, I have already registered, passed verification, so sorry… :grimacing: and the signs are very informative, I will definitely take note!