Most people want to make more money than they already are making. There are several places to make more money than a salary. One of these places are in the stock market. However, the stock market is pretty full of people already and it does not move very much. There are spikes here and there, but not to the extent of what we see in cryptocurrency.
A lot of people are therefore drawn to crypto, in the hunt for bigger gains. There are many things to keep in mind when you buy and sell cryptocurrency. We will look at some of those things here. Make sure that you place safe and that you play smart when you are spending your time in the world of crypto, a place where your common stock-market-rationale will not always work.
Time is money
Cryptocurrency market is nothing like trading stocks in the stock market. When you buy and sell crypto you need to be aware of the prices and you need to pay attention. The stock market is only open 8 hours a day, while crypto can be traded around the clock. This means that there is so much movement in a day. You have to take this into account. When trading crypto you will get the feeling that things happening in a week might feel like months in the stock market, for this reason.
Your time is valuable. That is why you need to spend your time on currencies that are solid, liquid and have great future perspectives. You do this by focusing on currencies that are considered less risky.
Do not put all your eggs in one basket
All traders must have a strategy. The strategy must be clever and also easy to understand. One trading strategy is to keep your money in several currencies. You never know everything about a company so you could come into a situation where your investment fails. If you have several investments instead of just one, the combination of the many will help you when one of the currencies fails. This approach to investments helps you minimize risk while trying to find a good return.
Cryptocurrency market prices live on: https://coinmarket.no