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As humans we tend to learn from our mistakes and move further. However there are a few mistakes which investors of the cryptocurrency market keep repeating and that results in them making losses. This article will highlight some of those mistakes and point out things you can do to avoid them, for our new investors, we would also be guiding you to get started on your investment journey and have prepared a complete walkthrough on how you can get started.
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Are You Making These Mistakes While Investing In The Cryptocurrency Market? Time To STOP NOW
As humans we tend to learn from our mistakes and move further. However there are a few mistakes which investors of the cryptocurrency market keep repeating and that results in them making losses. This article will highlight some of those mistakes and point out things you can do to avoid them, for our new investors, we would also be guiding you to get started on your investment journey and have prepared a complete walkthrough on how you can get started.
The cryptocurrency market is soaring and coins like Bitcoin, Ethereum , Litecoin have been the highlights of this bull run. If you are now wondering why “Litecoin Buy Canada” might be trending on your search engine then its mainly because everyone wants to get a piece of the current bull run and make a quick buck.
FIRSTLY, LETS START WITH A FEW MISTAKES WHICH CAN BE AVOIDED WHILE TRADING IN THE CRYPTOCURRENCY MARKET. 1) Always trade in a well known exchange : Cryptocurrency trades are susceptible to a lot of scams and these scammers take advantage of innocent investors by luring them with lucrative schemes. New investors more often than not fall prey to such scams and end up losing all of their money. It is extremely important to trade in a well known exchange (like Netcoins) which secures your funds and at the same time helps you execute your trades.
2) Never share your log in details : This is something most investors know and yet their details are leaked which causes their accounts to be hacked and all their funds are stolen. Store your log in details in a physical form(piece of paper or a diary) and keep it in a secure location. Most investors tend to store these details on their phone and that should strictly be avoided to keep it away from hackers.
3) Store your cryptocurrency in a Cold wallet : Cold wallets are physical storage devices which are specifically used to store the cryptocurrencies you own. These cold wallets ensure that your cryptocurrencies are far from the reach of any hackers. You can transfer your coins into any cold wallet and keep it in a safe and secure place and access it whenever you wish to sell your holdings.
HOW DO I GET STARTED WITH EXECUTING MY FIRST TRADE? For investors looking for a less volatile option, they can invest in stable coins like Tether. If you are someone who would want to know “How to buy Tether in Canada” or if you want to trade in regular cryptocurrencies then all you need to do is follow these instructions.
Firstly, you would need to log on to the Netcoins website, Netcoins is one of the most famous brokers in Canada and offers a safe and secure platform for investors to trade their cryptocurrency. Secondly, you would need to create an account and fill in the required details and lastly, you need to transfer money into your wallet and begin trading. SOURCE CREDIT : https://medium.com/@netcoinscanada/are-you-making-these-mistakes-while-investing-in-the-cryptocurrency-market-time-to-stop-now-c1ed849cc13b
