Important advice for beginners in trading or investing on Binance:
Start learning before you start with money.
Detailed advice:
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 the demo account (Testnet): Try trading without real money first until you learn how the platform works.
4. Beware of leverage: Do not use it as a beginner, as it amplifies both profits and losses, and can lead to significant losses.
5. Secure your account well: Enable two-factor authentication (2FA) and do not share your login information with anyone.
6. Don’t chase peaks (FOMO): Don’t buy just because "everyone is buying." Follow a plan and strategy, and do not act emotionally.
7. Invest in learning first: Follow free courses on YouTube, and read from reliable sources. Binance itself offers the Binance Academy.
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