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.
My brother, a successful businessman with strong fundamentals in his field, recently entered the crypto market. He bought Ethereum at $2,700 two days ago when Bitcoin touched $98,000. However, as the market corrected and Ethereum dropped to $2,200, he sold his position due to the pressure of market volatility.
Now that $ETH has rebounded to $2,450, he's considering re-entering. I advised him to wait for Bitcoin to pull back further before making a new entry, as timing is critical in such volatile conditions.
1. $LUNC (Terra Classic): The original Terra (LUNA) coin, now called Terra Classic, after the crash in May 2022. Still traded, but highly volatile and mostly speculative.
2. $LUNA (Terra 2.0): Launched after the Terra crash. A new version of the network without the algorithmic stablecoin. It's separate from LUNC and trying to rebuild trust.
3. $BTTC (BitTorrent Chain): A TRON-based token powering the BitTorrent ecosystem. Used for decentralized file sharing, staking, and bridging assets between chains.#MarketRebound
*Turning Volatility into Opportunity: Spot Trading Success*
Today, I earned a profit of 263 USDT, which I successfully cashed out via P2P. Despite a challenging week in the market, I managed to consistently generate small profits through spot trading while maintaining my altcoin holdings. The market has been highly volatile, but I’ve adapted by trading strategically and securing profits on a daily basis.#ScalpingStrategy