In trading or investing on Binance:
Start learning before you start with money.
Advice breakdown:
1. Learn the basics: Understand what trading is and the difference between investing and day trading. Read about cryptocurrencies, market analysis (fundamental and technical), and how the platform works.
2. Start with a small amount: Do not invest more than you can afford to lose. The market is volatile, and losses are possible, especially at the beginning.
3. Use a demo account: Try trading without real money first to learn how the platform works.
4. Be cautious with leverage: Do not use it as a beginner, as it amplifies both gains and losses, and can cause significant losses.
5. Secure your account well: Enable two-factor authentication (2FA) and do not share your login information with anyone.
6. Do not chase peaks (FOMO): Do not buy just because 'everyone is buying'. Follow a plan and strategy, and do not act on emotion.
7. Invest in learning first: Follow free courses on YouTube and read from reliable sources. Binance itself offers the Binance Academy.