Bitcoin, Crypto currency, Blockchain

5 mistakes to avoid when trading crypto-currencies

In 2017, the so-called “year of the crypto-currencies”, has ensured that to interest more people for the virtual currencies have begun – finally, the Bitcoin was towards the end of last year, nearly 20,000 American dollars (for Info: at the beginning of 2017, the virtual currency stood at about 1,000 US dollars). But what you should take that into consideration when you put your money into a crypto-currency?

Error number 1: There is no broker comparison

All those who decide in the world of crypto-immerse currencies, should consider to start with the Offers of various brokers. It is not only the possible fees that can be demanded by the broker, but also the services provided. But who carries a broker comparison, such depotvergleich.com,, you should also take a look behind the Scenes and pursue the question of whether the Broker is regulated. Recommended are also providers that offer traders a free demo account. Subsequently you can’t try only strategies, but also with the surface of the Platform. Demo accounts are also interesting for professionals – there is hardly another possibility, if you want to safely introduce new strategies to the test.

Error number 2: Also on the Wallet comparison is omitted

For transactions, you need a so-called Wallet is a digital wallet. Who owns a virtual wallet, can buy crypto-currencies, store or ship and subsequently sell. The virtual wallet is loaded as Software on the PC down and installed. There are also providers that offer virtual wallet for your Smartphone or Tablet. Due to the fact that there are different providers, should be carried out in the run-up to necessarily a comparison.

Error number 3: panic selling due to price fluctuations

 

Who is with crypto currencies, you should be advance aware that the market is extremely volatile and also very sensitive. That is to say, price fluctuations are a given. It deals with the course of developments in the last 12 months, it quickly becomes clear that you really need nerves of steel. The value of the development once down, one should not sell his Coins, but keep calm. The fact is that High rates may provide high profits, but, of course, for high losses.

Error Number 4: No Information

Due to the fact that the market is extremely sensitive and therefore the details is not responding, you should deal with the current Trends, in conjunction with the crypto currencies. That is to say, who has invested his money in crypto currencies, which is good advice, if he deals with the topic and also the latest developments followed.

Error number 5: In the promising “Shit-Coin” to invest

Very high-pitched like a fancy name, extremely high chances of winning and no risk at all – at the end of a so-called Shit is here presented-Coin. Who wants to invest his money in a cryptocurrency, you should opt for an already – established currency such as Bitcoin, Litecoin, Ethereum or Ripple.

Also interesting: 5 popular errors new crypto investors

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