How to start trading in 2023

While there are some people following news about blockchains since Satoshi posted his manifesto, they are still a minority. On the other hand, the majority of crypto enthusiasts follow the trends of the market. And for the market, crypto had become a trend in 2017 right when the BTC price has broken through the $1000 mark. From this point, various coins, altcoins, and stable coins start to be a part of daily financial reports.

Today people are still familiarizing themselves with the concepts of blockchain, decentralization, and crypto exchanges. Binance, Coinbase, and xbitcoin trading platform websites had become central hubs for the majority of transactions in the field. So it is a necessity to learn about all the workings of these services in order to start making money. Not from the physical works but from the valuable assets.

The importance of first steps

The starting kit should include a trustworthy site and a strategy. It would be a bold assumption for newcomers to have all the knowledge to pick up the place themselves. Exchanges mentioned at the end of the introduction would be enough for a beginner. Registration is pretty simple for anyone familiar with companies interacting with finances. Users must provide personal information, phone number, and bank account in order to deposit and withdraw money. The latter is not needed if only blockchain tokens are in the operations.

The strategy is another important component affecting the expected profits and the amount of effort needed. One of the approaches is long-term investments aiming not for the profits but the maintenance of the funds. More or less stable assets like Bitcoin, Ethereum, or USDT are a perfect match for it. They will maintain their worth as long as blockchain technology is relevant.

Another way to profit from crypto is active market trading. There you need trustworthy exchanges with as many tools as possible at their disposal. The decisions and responses should be lightning-fast from the client side and server side. Seconds are what matters here, the importance of the ability to close the deal at the right moment is immeasurable.

Dozens of tools at your disposal

Newcomers should familiarize themselves with the tools the market offers them. It will help to analyze market trends with the precision needed for thorough planning. Read the price graphs, compare them from different places and markets, combine them to make the correlations visible. Most of the top crypto exchanges have dozens of coins at offer, but only a handful of them are worth investing into:

• BTC
• ETH
• LTC
• DOGE
• BCH
• USDT
• ADA
• XRP
• XMR
• AVAX

They both work as short and long-term investment assets. But it does not take away the fact that this segment of the market is still highly volatile. These risks should be brought into the equation while calculating the expected profitability of the investment. And the most important takeaway for all the newcomers: try small to trade big! Only the experience lets expect traders play the market.