Crypto trading for newbies

[HeavenLeighRob]

It seems to be much more dangerous, so I’d say that depends on your risk tolerance. You could lose a lot more or gain, but it might be better to do this once you’re more experienced in general rather than as a newbie.

 

[Balladotus]

Actually it's not a really bad idea, however you should learn all the fundamental things about trading first, in order to gain some knowledge and understand which type of trading and which group of assets suit you most. I believe that rookies would better dedicate more time to learning and practicing, rather than starting from such difficult for trading assets like cryptocurrency. Nobody prohibits you to start off from crypto, nevertheless if you won't want to say goodbye to your deposit, you would better start for example from forex trading. You will gain a bit of experience and skills and then decide whether you want trade cryptocurrencies or not.

 

[Malaksen]

It is okay to start with trading crypto if you know where and how to learn. Forex trading is better because of the fact that there are so many different educational resources which are free of charge. Surely, there are many resources for learning crypto trading, but I doubt about their credibility. So, if you have a mentor or a friend who is ready to help you, go ahead and trade cryptocurrencies. However, if you are absolutely new to trading, then maybe you should start with some less complicated financial instruments.

 

[Petezaa]

Is trading crypto for a newbie a bad idea, as in can the markets be read the same way as forex?

Do you mean holding the coin - or margin trading? Margin trading, you need trading experience for sure - so I wouldn't bother doing that until you are confident.

 

[sebking1986]

If you are looking to marging trade crypto I would 100% advise cutting your teeth on fiat FX trading before dabbling. As someone mentioned you can get ruined on 0.01 lots with crypto as it is so hard to judge risk management.