I’ve been trading crypto for over 8 years, and my advice to beginners is to focus on spot trading rather than futures trading.
Many crypto influencers suggest futures trading, but it’s risky and can quickly lead to big losses. If you don’t know how to manage risk properly, you can lose all your money, even if you’re making small profits in the short term. With futures, your account can get wiped out fast.
Spot trading is much safer. You buy and hold coins without the risk of losing everything. You can still make steady profits (like $30 to $80) over time without the fear of liquidation. Plus, you have a chance to recover if the market drops.
$XRP and XLM are both cryptocurrencies, but they serve different purposes:
- **$XRP **: Created by Ripple Labs, XRP is designed to facilitate fast and low-cost cross-border payments. Its primary use is in the financial industry to enhance transaction efficiency between different currencies and financial institutions.
- **$XLM **: Developed by the Stellar Development Foundation, XLM (Stellar Lumens) aims to improve cross-border transactions for individuals and institutions by providing a more accessible and inclusive financial infrastructure. It focuses on connecting banks, payment systems, and people in developing countries.
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A young, mobile-first population is driving this shift as crypto becomes an alternative to limited traditional banking. The gov’t is eyeing innovation with regulation.
Beginner's Tip: Stick to Spot Trading, Avoid Futures
I’ve been trading crypto for over 8 years, and here’s my honest advice for beginners:
Don’t jump into futures trading. It may look like a fast way to earn money, but it’s very risky. You can lose all your money quickly if you don’t know how to handle the ups and downs of the market—even if you make small profits at first.
Spot trading is much safer. You just buy and hold coins. You won’t lose everything in one move, and you can still earn steady profits (like $30 to $80) over time. Even if the market drops, you still have a chance to recover.
My simple advice: Start with spot trading. Pick strong, trusted coins. Grow slowly and safely. Stay away from futures trading if you're new—it’s not worth the risk.#EthereumTurns10 #BinanceSquareFamily #FOMCMeeting
$XRP and $XLM are both cryptocurrencies, but they are used for different things:
$XRP was made by Ripple. It helps banks and financial companies send money to each other quickly and cheaply, especially across countries.
xlm(Stellar) was made by the Stellar Foundation. It helps people and businesses—especially in developing countries—send money around the world in a simple and affordable way.#Xrp🔥🔥 #BinanceSquareFamily #XLM
In the last three days, despite a 10% to 15% decline in altcoins, I successfully managed to cash out a profit of 290 USDT through spot trading by leveraging market fluctuations. I’ve been consistently cashing out profits on a daily basis. You can name any specific date, and I’ll share the screenshot showing exactly how much I earned on that day—strictly through spot trading.#EthereumTurns10 #FOMCMeeting #ETHCorporateReserves #BinanceSquareFamily
FED UPDATE: No rate change! Fed keeps rates at 5.25-5.50%, as expected. Inflation still above 2% target, but they’re watching jobs & prices closely. Markets betting on a September cut (25-50 bps).#FOMCMeeting #EthereumTurns10