After learning the basics of cryptocurrencies in the first article, it's time to get practical. This article guides you step by step towards starting your first trading experience with confidence and security — whether you are a complete beginner or have some background.
1. Define your trading goal
Before you start, ask yourself:
Do I want to achieve quick profits?
Or is my goal long-term investment?
How much money can I risk?
Clarity of goal makes it easier for you to choose the strategy, platform, and type of currencies you will trade.
2. Choose a reliable trading platform
Trading platforms are the gateway through which you buy and sell currencies. Here are the selection criteria:
✅ Reputation and licenses
✅ Ease of use for beginners
✅ Low fees
✅ Good technical support
✅ Available currency options
Globally popular platforms: Binance, Kraken, Coinbase
Arabic platforms or those supporting Arabic users: Rain, BitOasis
Note: Always ensure to enable two-factor authentication (2FA) to protect your account.
3. Open a digital wallet
Although some platforms provide internal wallets, it is preferable to use an external wallet to store your funds securely away from potential risks like platform hacking.
Hot Wallets: like MetaMask or Trust Wallet — convenient but more prone to hacking.
Cold Wallets: like Ledger or Trezor — more secure as they are not connected to the internet.
4. Make your first purchase
Start with a small amount to experiment with the platform and understand how to execute orders.
You will often buy the currency against the dollar or through stablecoins (like USDT or USDC).
📝 Tip: Don't invest all your capital at once. Use the dollar-cost averaging (DCA) technique — buying small amounts at regular intervals.
5. Get to know the trading interface
Before you hit the "BUY" button, know the following:
Current Price (Market Price)
Market Order: Buy at the current price immediately
Limit Order: Buy at a price you set
Available balance
Leverage: Don't use it as a beginner!
6. Track your performance and record every trade
Use a simple table or tools like CoinTracking or CoinMarketCap Portfolio to track:
Entry date
Purchase price
Profit or loss percentage
Reason for entry and exit
This will improve your decisions over time and prevent you from repeating the same mistakes.
Common mistakes to avoid:
❌ Entering just because "everyone is talking about the currency"
❌ Buying at a high price due to excitement (FOMO)
❌ Not having an exit plan (Take Profit / Stop Loss)
❌ Trading emotionally during a downturn
❌ Using high leverage without experience
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Summary:
Starting to trade cryptocurrencies does not require a lot of money, but it requires a lot of wisdom. Don't rush profits, and focus on learning and safe experimentation. In the next article, we will take you to the next level: technical analysis vs. fundamental analysis — how to read the market?
