Bitcoin is the first cryptocurrency in the world to develop an environment full of instruments and services that allow users to make transactions, send secure payments, ekrona trading financially and endless activities that allow to visualize the digital market.
With its security protocol it is much more reliable and responds to all the problems that the crypto community has faced in the last decade.
Elements to choose a cryptocurrency correctly
There are several important elements to take into account. The main ones are:
- Usability. That can be marketed in various “Exchange”
- Mining power. That it has a high mining power.
- Website and browser open to the public. That the information of the number of coins, exchanges, mining power, equipment that supports it, is public and visible to all.
- Application. That it is not “one more currency” to “buy cheap and sell expensive”. That has a specific use or a specific solution in the cryptocurrency ecosystem.
- Limited production. That it has a finite number of coins to exist, and that the total amount to be produced and the current number in circulation are transparent.
How to go from an ordinary user to a crypto-master?
Learning how to move in the realm of trading operations can be difficult, but there are many experts and resources available online with which anyone can learn how to trade cryptocurrencies.
The first thing you should keep in mind is that bitcoin markets or the markets of any cryptocurrency are very different from the average stock market trade or the waters that Forex traders navigate.
In fact, many people will tell you that traditional technical analysis will never be accurate when it comes to digital currency markets.
However, there are those who use technical analysis frequently for day trading operations, making a living, and predicting short-term movements in prices that we all know.
It is important to previously evaluate the possible risk profile that the investor has before making any listing action.
Some of the tips that can help us make the right decisions as far as cryptocurrency exchange is concerned, are the following:
- The exchange platform must be secure
- Create a Wallet
- Don’t invest more than the money you’re willing to lose
- Always prepare and analyze the market before investing
- Start with secure currencies like Bitcoin
- Never provide your information be suspicious
If you are just starting out in the world of cryptocurrency investing, it is advisable to start small. There are many cryptocurrencies, but the most popular and followed, of which you can find more information, is Bitcoin.
That is why we recommend that you start investing in Bitcoins: in addition to being the most popular, it is the one with the highest capitalization, greater security and liquidity. Many investors already talk about Bitcoin as a safe haven and even a substitute for fiat money.
Technical analysis fundamental piece
An individual who possesses a lot of knowledge about technical analysis, and also follows very closely what is said on the streets, could still be terribly wrong in his predictions.
Cryptocurrencies such as bitcoin can often deceive traders, and throw overboard all this knowledge obtained on the streets and related to technical analysis.
Traders extremely skilled at technical analysis can lose everything in a matter of minutes. So make sure it’s a true shoulder-head-shoulder pattern or a true uptrend signal.
To achieve effective technical analysis, it is important to make daily habits, including collecting the greatest amount of daily information regarding news and financial indicators of the traditional economy, as well as the behaviors of the markets and their corporate leaders.
We know that the financial world is somewhat complicated, not only the traditional market leads to a thorough analysis of the indicators that affect its ups or downs in certain periods of time, where the backs of this market are hit without prior notice.
The cryptocurrency market is even more complex from the analytical point of view because its only support is the opinions and support given by its followers to the various digital currencies, their changes are subject to many more variables even more vulnerable than those of the traditional market. The main thing to be a crypto master is to be informed, prepare, anticipate possible situations that violate the values of cryptocurrencies.