Cryptocurrency wallet tips and crypto transactions? Some investors, mostly beginners, want to make 20 trades a day. This is dangerous. Ultimately, many of them lose from fees or because they make bad trades a mistake and then trade more to recover their losses. Only to dig a deeper and deeper hole for themselves. The reality is that there aren’t 20 good trading opportunities in a day. Trading too much leads to poor decision making.
Backup your wallet. Store only small amounts of currency for everyday use online, on your computer or mobile, keeping the vast majority of your funds in a high-security environment. Cold or offline storage options for backup like Ledger Nano or paper or USB will protect you against computer failures and allow you to recover your wallet should it be lost or stolen. It will not, however, protect you against eager hackers. The reality is, if you choose to use an online wallet there are inherent risks that can’t always be protected against.
A lot of Altcoins end up losing value over a certain period of time, sometimes in an unusually short period of time. It is, therefore, paramount to understand that whenever you hold an altcoin for the long term, be careful not to hold on to them for too long. One of the best measures of coins that are perfect for long-term investments is the daily trading volumes. The higher the daily trading volume, the more suitable an asset is for long-term investments. If you’re thinking of going long term with cryptocurrencies, consider investing in some of the following coins: Ethereum (ETH), Factor (FCT), Monero (XRM), and Dash. These have decent trading volumes on various exchanges around the world. Discover extra details at Fairbit.
Technically speaking, cryptocurrencies are transactions or entries targeted in a restricted database. Specific conditions must be met to modify these transactions. Created with cryptography, transactions are protected with mathematics, not with people. Transactions are published in a database, but it is a special type of database that is shared is a peer-to-peer network.
If you’ve not heard of the term stop loss in trading, check out this link to help you understand what it’s all about. Every trade we get into requires us to know when to get out, whether we’re making a profit or not. Establishing a clear stop loss level can help you cut your losses; a skill that’s very rare in most traders. Choosing a stop loss is not a random activity, and perhaps the most important thing to note here is that you shouldn’t be carried away by your emotions – a great point to set your stop loss is at the cost of your coin. If, for instance, you acquired a coin at $1,000, set that as the minimum point you’re willing to trade your coin. This will ensure that if the worst comes to pass, you can walk away with what you invested in the first place.
Kraken is another reliable exchange, they are based in the US and you can buy different cryptocurrencies with ACH transfers, SEPA transfers (great news for our European readers). Kraken is one of the oldest still remaining Bitcoin exchanges. And it is one of the most trusted sites still around. Coinmama buy Bitcoins with credit card or debit card And last on our list is Coinmama. It is a broker site similar to Coinbase and Bitpanda. Here you can buy BTC with a bank transfer or credit/debit card. Coinmama specialises in making it easy for anyone to buy Bitcoins or other cryptos. Both with a card or bank account. It’s an easy to use site and with a good customer support to help you on the way. You need your own Bitcoin wallet before buying BTC at Coinmama. Find extra information on Fairbit.