Hello people,
BrandTand team here! Today we're giving you some tips that might be useful if you're only starting to endulge in the crypto currency world. Feel free to post your own thoughts and experiences.
Most important thing to look out for BEFORE you start is - Don't invest money you can't afford to lose.
TIP #1: Handling your money
Having a proper wallet is the key - otherwise, all the hard earned money might get stolen or lost.
There are few different types of wallets you can use;
Online wallet - is defined as a web service that allows you to store money in a virtual account.
Pros: Convenient
Cons: Least safe way of keeping your crypto money - websites with online wallets are often breached/hacked [1]Paper wallet - is a physical document containing a redeemable code for single use (there is an option for multiple use but this is strongly discouraged), meaning this option works fully offline
Pros: Very safe, since it is offline, so there is no chance of hacking
Cons: If the paper somehow gets lost, so does all of your crypto moneyHardware wallet - lets you store your private key in a secure hardware drive.
Pros: Immune to viruses, also offline
Cons: You have to invest money and buy the drive.
Ledger wallet je preporuka - treba mi vaš mail za isplatu affiliate programa.
We recommend using either paper or hardware wallet, as they are the most secure option with minimal risk.
Give this site a try:
https://www.myetherwallet.com/ - They offer both online and paper wallet - great site for beginners as it is easy to use.
TIP #2: Using graphs and tools
Most of the time, we use this website:
https://www.tradingview.com/
Although it may look hard and confusing at first, graphs and tools are there to help you.
General rule of thumb is - the more complex the graph is, the more you can get out of it and plan your next move accordingly.
Second most important rule is - When you analyze your graph, make sure you use the graph for your individual exchange.
Third - Candle sticks charts are (in our opinion) best way to analyze the graph. Learn how to read candle sticks charts -
Pay attention to the trade volume for the coin - The higher the volume, the safer it is to trade that particular coin.
Trading view is free, and therefore very recommendend for beginners - it also has a social platform that can be used to earn.
Coinigy is one of the best trading tools, especially since it offers a mobile app. That way, you don't have to be on your computer whole day, but can still be updated.
Fee is $15 per month, but they offer a free trial (one month).
TIP #3 Join the community and learn
Beauty of internet is the constant stream of information you can find for free.
If you are reading this, you have probably already joined Steemit. Good call!
Read, comment, share your own thoughts and stay humble!
Here are also few links we found useful:
https://en.bitcoin.it/wiki/Main_Page - Crypto related Wikipedia, very useful for beginners
https://bitcointalk.org/ - Our favorite forum to get started.
https://coinmarketcap.com/ - This site is a must + it has a "social" category, so you can pay attention to news regarding crypto currencies.
Some of Youtubers:
Chris Dunn: He has his own courses on the topic of crypto trading, but also uploads videos on YT (https://www.youtube.com/user/chrisdunntv)
He offers a lot of solid advice, check him out.
Ameer Rosic - My personal favorite, he covers different topics and frequently does Q&A.
(https://www.youtube.com/user/AmeerRosic)
Hope you find some of these tips useful. Comment if you have any questions, suggestions and/or criticism.
Thank you for reading,
BrandTand Team!
REFERENCES:
[1]https://thehackernews.com/2017/09/hacking-bitcoin-wallets.html
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