#TradeLessons

Crypto trading involves buying and selling digital currencies like Bitcoin (BTC) and Ethereum (ETH) on online platforms known as exchanges. These transactions occur on the blockchain, a decentralized ledger that ensures transparency and security.

Getting Started:

Choose a Reputable Exchange: Platforms like Binance, Coinbase, and Kraken are popular choices. Ensure the exchange supports your local currency and offers robust security features .

Set Up a Wallet: Store your crypto in a secure wallet. Hot wallets are online and convenient, while cold wallets are offline and offer enhanced security .

Start Small: Begin with a modest investment to familiarize yourself with the market dynamics. Many exchanges allow fractional purchases, enabling you to buy portions of expensive coins like Bitcoin .

Risk Management:

Diversify Your Portfolio: Avoid putting all funds into a single cryptocurrency. Spread investments across various assets to mitigate risk .

Use Stop-Loss Orders: Set predetermined price points to automatically sell your assets, limiting potential losses .

Implement the 1% Rule: Risk only a small percentage of your total capital on each trade to protect your overall investment.

Security Tips:

Enable Two-Factor Authentication (2FA): Adds an extra layer of protection to your accounts.

Beware of Phishing Scams: Avoid clicking on suspicious links or sharing personal information.

Secure Your Private Keys: Never share your private keys; losing them can result in irreversible loss of access to your funds .