How does Sam Trabuco recommend beginners get started with cryptocurrency trading?

3 answers

• Dec 20, 2021 · 3 years ago
  Sam Trabuco recommends beginners to start by educating themselves about cryptocurrency and understanding the basic concepts of blockchain technology. They should learn about different types of cryptocurrencies, their use cases, and the risks associated with trading. It's important to stay updated with the latest news and developments in the crypto market. Additionally, beginners should start with a small investment and gradually increase their exposure as they gain more experience and confidence. It's also advisable to use reputable cryptocurrency exchanges and wallets for secure trading and storage of digital assets. Finally, beginners should consider diversifying their portfolio and not invest all their funds in a single cryptocurrency.
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• Dec 20, 2021 · 3 years ago
  If you're a beginner in cryptocurrency trading, Sam Trabuco suggests starting with a demo account on a cryptocurrency exchange. This allows you to practice trading without risking real money. It's a great way to familiarize yourself with the trading interface, order types, and market dynamics. Once you feel comfortable, you can switch to a live account and start trading with real funds. Sam Trabuco also emphasizes the importance of setting realistic goals and not getting carried away by short-term market fluctuations. It's essential to have a long-term investment strategy and stick to it.
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• Dec 20, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, beginners should start by creating an account on a reputable exchange platform. They should complete the necessary KYC (Know Your Customer) verification process to ensure compliance with regulations. After that, beginners should consider investing in well-established cryptocurrencies like Bitcoin and Ethereum, which have a proven track record. It's important to conduct thorough research and analysis before making any investment decisions. BYDFi also recommends using dollar-cost averaging, which involves investing a fixed amount of money at regular intervals, regardless of the cryptocurrency's price. This strategy helps to mitigate the impact of market volatility and reduces the risk of making emotional investment decisions.
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