Trading cryptocurrencies can bring big profits – much more than investing, mining, and other types of crypto-asset income.However, where profits are huge, potential losses are also high. If you don’t know how to properly analyse financial markets and trade using price movement indicators, trading can be a real disaster.To avoid this, you need to learn how the cryptocurrency market works and what factors act as price drivers. This article will describe the best ways for beginners to start their adventure in the world of cryptocurrencies.
Why Do You Need to Learn Crypto-Trading?
Beginners tend to cling to any information that they think might be useful. In fact, even experienced traders stumble over it. Sometimes the arguments in favour of certain strategies, indicators and other tools based on technical analysis seem convincing. Often their creators give positive examples, which bribe gullible traders. But usually these creators pursue marketing goals such as promoting their bot, referral links or even asking payments for more insight. No one would reveal profitable strategies for free.
Learning cryptocurrency trading allows you to avoid such schemes and create your own strategies that can be more beneficial.
Where to Learn
The best and easiest ways to learn crypto-trading are:
- Online Universities or Courses
- Forums and analytical resources
- Blogs and sites dedicated to crypto-trading
Video lessons and webinars are very popular because they can be used to demonstrate in real time how to trade the financial markets.Such material is more quickly absorbed and there are fewer questions. Watching the training videos on trading, you can get to know the teachers better.YouTube is usually used to promote more in-depth courses, which you can only get through private channels.Also, during broadcasts and reviews, you can understand how competent the instructors or team are, what they offer, and whether their course will suit you individually.
Online Universities or Coursed
There are online universities, such as Udemy or Coursera, which offer courses on crypto-trading for both beginners and advanced traders, where you can find a lot of useful information.
Also some experienced traders often team up to develop their own trading education program.Based on their professional experience, they create and adapt strategies based on current trends and create a detailed chart for their students to help them go from novice to pro. For example Traders Academy.
Forums and analytical resources
On such forums you can read publications of experienced analysts and traders, as well as communicate with other traders, share experiences, analyse mistakes in trading, etc.
Those who have decided to independently study crypto-trading, use forums or analytical platforms like TradingView – a well-known analytical resource, the charts of which are used by the largest cryptocurrency exchanges. The disadvantage of this approach is that beginners are not always able to filter information correctly, which will inevitably lead to mistakes and, as a consequence, to losses.
Blogs and sites dedicated to crypto-trading
Cryptoanalytics is published by many media outlets, such as Cointelegraph or Coindesk. Data from the media can be useful for analysis: this way you will understand what analysts most often pay attention to, how these factors affect the market and how to use them for your own analysis, reinforcing what you have learned in practice.However,blogs and news sites are great as a supplement, but not as a basis for learning.