crypto trading malaysia mistakes

 Crypto trading is risky if you don’t have proper crypto trading knowledge. The cryptocurrency market is experiencing a rapid increase in popularity, with greater public acceptance and growing global awareness of the financial opportunities digital currency provides. Last year, for the first time in history, the combined market capitalization of all cryptocurrencies surpassed $3 trillion.

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If you are also interested in crypto trading then you should avoid these most popular mistakes of cryptocurrency trading.

  1. Buying high and selling low- Like any investment, cryptocurrency is a bit risky. It is volatile in nature & its price fluctuates every single day, so use caution when trading this commodity. One well-timed trade could make you a fortune, but one miscalculated trade could also lose a lot. Always be patient while buying & selling cryptocurrencies.
  2. Lack of basics of market analysis- There are a certain set of practices that are required for trading. When you're investing in crypto, it's important to be aware of price charts. You want to invest in the most lucrative projects, which means you need to understand price charts. Also, you need to understand certain indicators for a profitable trade.
  3. Following various opinions blindly- Do you follow various opinions for crypto trading/investing? Instead of following various social media opinions, always follow legit sources of information. Always invest by yourself before investing in any cryptocurrencies. You can also follow a couple of online websites for cryptoanalysis.
  4. Investing money you cannot afford to lose- It's important to invest only an amount you are comfortable losing. Don’t borrow huge money to invest in cryptocurrencies. Always remember that crypto is volatile and those who have seen huge gains typically have seen huge losses as well.
  5. Avoid Security- There are 10,000+crypto influencers on all social media platforms. Beware of the scammers on YouTube, Instagram, Twitter, Facebook, etc. Especially on Telegram, you’ll also find a lot of fake ‘admin’. Also, make sure to invest in a trusted crypto exchange app and manage your passwords, OTP safely.

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