How to Trade Crypto for Beginners

What is Crypto Trading?

Crypto trading is the activity of selling and buying digital currency assets available on the cryptocurrency market whose goal is to get maximum profit.

Cryptocurrency is currently chosen as an asset for trading because of its high fluctuations.

For those who are doing it for the first time, you must know how to trade crypto for beginners correctly so that they can move smoothly.

The first thing that needs to be prepared for Indonesian crypto trading, you need an available crypto trading application. The facilities they provide will make it safer for you to enter the global crypto market.

Crypto Market Close What Time?

The crypto market has never closed. Unlike the stock market, which has a set schedule, the crypto market is open around the clock. That's what keeps the transaction going. Moreover, the crypto market has users all over the world, so transactions are never empty.

You are also free to enter the crypto market at any time, so it doesn't interfere with main activities such as work. You are very likely to enter the crypto market on weekends.

However, in order not to miss important moments, you need to follow cryptocurrency news on the internet. That way, you can make the right decisions regarding your trading activities.

How to Trade Crypto for Beginners?

Those of you who are curious about trading crypto for the first time, must first know how to trade crypto for beginners below. That way you will understand what to prepare before entering the crypto market.

#1. Choose a legal crypto trading application

The important way to trade crypto for beginners is to choose a legal application. The legal intent here is that the application has obtained legal permission from BAPPEBTI.

Even though there are many advertisements circulating on the internet, these trading applications are not necessarily legal. To check, usually the application will display the BAPPEBTI logo on the website and the front of the application.

After that you need to register. Follow the procedure given by the application. Your account is usually active within 24 hours.

#2. Pay attention to the terms of the deposit

Those of you who are beginners can really start trading crypto with cheap capital. For that you need to check the terms of the deposit first.

There are applications where the deposit requirements are cheap, there are those that are moderate. Of course an application with easy deposit requirements that is suitable for beginners like you.

This minimum deposit differs from the fee per transaction. You also need to check how much the transaction fee for each application is.

#3. Choose a coin or crypto token that you are happy with

There are thousands of crypto coins or tokens that you can choose to gain cash. However, you still need to be selective in choosing it.

For example, you choose the cryptocurrency that is traded the most or is the cheapest in price. The criteria is up to you, as long as the coins and tokens are legal in Indonesia.

#4. Make a purchase transaction first

The next way to trade crypto for beginners is to make purchases on coins or tokens that you like. Purchases are made with capital that has been deposited.

It doesn't matter if you want to start with small capital. Later you can increase the capital over time.

#5. Learn technical analysis to make the right decisions

Technical analysis is needed for trading. This analysis helps you chart the price movement of the selected coin or token.

Indeed, at the beginning it is rather difficult to learn because there are many terms that you may not understand. Try reading an article on how to analyze cryptocurrency to get initial shadows.

#6. Perform regular monitoring

You don't need to enter the crypto market every day, but you still have to monitor it. The reason is because the cryptocurrency market is very dynamic. Sometimes it is difficult to predict what will happen in the future. For that you should not pass to do monitoring.