1. Understand the field well
Never invest in something you don't understand.
Read about blockchain and types of currencies (like: Bitcoin, Ethereum, BNB).
Follow market news and cryptocurrency analysis sites like CoinMarketCap or CoinGecko.
💸 2. Invest what you can afford to lose
The cryptocurrency market is very volatile.
Don't use money allocated for essential needs (like rent, food, or debts).
📈 3. Start with small amounts
Don't start with large amounts.
Try a demo platform first if possible, or invest a small portion and learn from the experience.
🔐 4. Choose a reliable and secure platform
Like Binance, Coinbase, Kraken, and others.
Check the security level and reputation of the platform, and enable two-factor authentication (2FA).
🧠 5. Learn analysis
There are two types of analysis:
- Technical Analysis: by studying charts.
- Fundamental Analysis: by understanding the project, its team, and its technology.
Don't rely solely on the 'hype' or social media recommendations.
⏱️ 6. Define your strategy
Are you a day trader (Short Term)? Or a long-term investor (HODL)?
Have a clear plan: When to buy? When to sell? What is your profit target? What is your maximum loss?
📉 7. Don't be influenced by emotions
Don't buy just because everyone is talking about a certain currency (FOMO).
Don't sell out of panic (FUD).
Make decisions rationally, not emotionally.
🧾 8. Keep track of taxes and laws in your country
In some countries, trading cryptocurrencies is subject to taxes or even illegal.
Make sure you know the legal situation in your country.
🧠 9. Learn from your mistakes
Write notes about your previous trades.
Analyze your mistakes to improve over time
🔄 10. Stay updated
Follow trustworthy channels and sources.
Join educational communities like Reddit, Twitter, and Telegram (but beware of scammers).
#BNBATH #itter Crypto, and Telegram (but be wary of scammers).