Introduction

As one of the newest investment markets, cryptocurrency trading is daunting and confusing for many people. Whether you’re new to investing in general or a seasoned investor who is new to cryptocurrency, everybody can benefit from the tips we have gathered below. There you’ll find five distinct tips that should help your performance as a beginner crypto trader.

If you are a beginner, you should find an exchange that you know and trust so that your transactions process properly. There are many exchanges out there, so you want to find the best exchange to trade cryptocurrency on, and use them to see what they look like and what they do.

1. Have A Motive

Before you try to enter a trade, you should figure out why. Every trader wants to make some money, of course, but having clear goals allows you to set conditions where you’ll take profit or abandon the trade. There’s nothing worse than rushing into a trade, getting caught up in price movements, and having no idea where you should sell.

What you must understand is that most price movement in the cryptocurrency market is controlled by whales. Those are investors who own thousands, or hundreds of thousands, of cryptocurrency assets and make large-scale trades. If they sell a lot, the cryptocurrency price falls. If they buy a lot, the cryptocurrency price rises. Needless to say, most of these whales are the best of the best and are waiting for beginners like you to throw more money into the market, so they can try and take it.

2. Use Stop Losses

The subject of stop losses divides many traders, especially where hype and long-term holding are celebrated like in the cryptocurrency market. If you’re day-trading or short-term holding, you should use stop losses.

You need to know when you get out of every trade and, by setting a stop loss, you mitigate risk and do that automatically. To try and avoid losses altogether, try to buy a crypto that is experiencing a price rise and then set your stop loss at the cost of your buy-in. That way, you can back out of the trade without losing any money.

As we alluded to in the first point, you should also have a maximum price point in mind where you want to sell. If you get to that point, and there are no obvious signs of increasing interest in the coin, you should sell. Greed leads many inexperienced traders into bad trades while the pros take profits wherever they can.

3. Tame The FOMO

FOMO, or Fear Of Missing Out, is where you become aware of an experience that somebody is having and you want to join it, even if it’s too late. In the context of cryptocurrency trading, this would be buying an asset that has popped with the expectation that the price will rise even further. Will it? Maybe. Is it a sure thing? Absolutely not!

Cryptocurrencies, especially those with very small market caps, have experienced run-ups that can bag traders more than 100% gain, sometimes even 1,000%. You should remember that those situations are rare and that they leave many other traders holding the bag.

4. Understand Underlying Assets

Cryptocurrency isn’t just money slapped into a screen, each crypto asset may or may not have underlying technologies and other assets tied to them. The gold and silver of the crypto world have such use-cases. Bitcoin is relative to fiat currency and was made with the idea of becoming legal tender, which it has for many companies. Ether, on the other hand, is used to power and support the world’s largest blockchain technology – Ethereum. The price movements of these two market leaders affect other coins too.

Know the underlying asset behind the cryptocurrency by reading their white paper before investing. You should also make sure the crypto has an active dev team behind them and a community that holds them to account, to avoid being scammed.

5. Aim High & Diversify

For our last tip, you should understand that many cryptocurrencies have a very low market cap. While that makes it easy to scoop many of them up, it doesn’t guarantee a solid investment. Like with the stock market, a higher market cap actually indicates a more favorable investment and growth potential.

You should also diversify your investments due to the unpredictability and volatility inherent to the cryptocurrency market. You don’t want to lose your entire investment in one swinging price movement. When you’re diversified, you won’t lose as much in individual instances of volatility.

There are multiple ways that you can make your very first investment in Bitcoin. Buying BTC with cash is one easy method of investing in Bitcoin safely. If you sign up for online exchanges, you can also buy Bitcoin with your debit card with very little stress.

In some cases, paying with cash can be more convenient than buying over the internet. More and more businesses and individuals are opening up to accepting Bitcoin as a legitimate payment method around the world. Often termed as digital gold, BTC continues to wow the global economy with its soaring value. If you want to know how to use cash to buy Bitcoin, read on

Here are a few ways to buy Bitcoins with cash easily

1. NakitCoins

NakitCoins is a fast-growing crypto cashpoint broker based in Turkey that allows you to buy Bitcoin with cash, cards, or Neosurf cash vouchers. Here is how to buy Bitcoins with cash in Turkey. Simply visit the broker’s agencies in Turkey, make your payment, and receive Bitcoins in your wallet.

2. Bitcoin ATM (BATM)

How to get Bitcoin with cash using Bitcoin ATM

Bitcoin ATMs (BATMs) were introduced to allow people to buy Bitcoin in-person securely. These devices accept cash payment to send BTC to your specified wallet address. Bitcoin ATMs are an easy way to trade crypto 24/7. The last few years have seen more Bitcoin ATMs enter the cryptocurrency industry.

While BATMs are becoming more and more popular by the day, you may still find it difficult to locate one. The simplest technique to discover the nearest BATM is to use CoinATMRadar services or CoinFlip (for U.S. customers).

Visiting these sites will allow you to learn more about the exact location of the nearest Bitcoin ATM, the fees charged, any identity verification requirements, and other essential information.

Coin ATM Radar will also provide you the contact details of the BATM operator. Just remember to keep your wallet address handy when visiting a BATM to buy Bitcoin with cash. While these machines are often installed in public places, you may want to watch out for suspicious people who may try to rob you.

3. Cash Deposit at the Bank

World-acclaimed peer-to-peer Bitcoin exchanges such as Paxful and LocalBitcoins guarantee users a vast range of payment options including by cash deposit at a bank. All you have to do is to create your user account, get verified, and connect with interested sellers who accept cash deposits as a means of payment.

Here is where to buy Bitcoin in the USA with cash:

In the United States, Liberty X and BitQuick make it possible for people to buy Bitcoin via a bank deposit. Wall of Coins also offers similar services to customers in the UK, USA, Australia, Germany, and Canada among other regions.

How do I buy Bitcoin with a cash deposit?

You can ask the seller to provide their bank account details. Visit the relevant banking institution to complete the deposit via a teller. Bank deposit is a secure payment method because both parties can maintain their privacy. However, one major downside to this method is that bank deposits are slower than in-person purchases.

Like face-to-face Bitcoin trades, you should exercise extra care not to lose your money to scammers. Always use an escrow service to ensure that you receive the correct number of bitcoins after making the deposit. Keep your receipt and use that as your proof of payment if a dispute arises.

How much money do you spend on entertainment every month?

According to the Bureau of Labor Statistics, the average household spends over $2000 a month on entertainment. If the average household has 4 people in it, that means each of them spend over $500 a month.

You can stretch your entertainment budget much further if you’re willing to tweak a few of your habits and behaviors. It doesn’t require anything rash, just a bit of rearrangement.

Start With Internet Access

Internet access is the core of every household. We need it for work and school. We use it to pay our bills and keep in contact with our loved ones and acquaintances. We can book appointments or go shopping online. Even our electronics need the internet to remain up to date.

Most of our entertainment is bundled up in the internet. Gamers use it to play online. People use it to stream music, movies, run apps and catch up on their favorite television shows. And major cable channels, like HBO, are offering internet-only subscription services.

It’s unsurprising, then, that you’re probably spending well over a hundred dollars a month on the internet. But how is your internet service?

You can save money on your bill by finding an internet provider that gives you fast internet for a good price. In most areas there are usually two or three major providers. In order to compete with each other, they will offer coupons and deals to new customers. Comparison pricing is a great way to save money on your entertainment budget.

The Right Way to Comparison Shop

Normally you would go with whoever offers you the cheapest price, but we’re not recommending that strategy for your internet service. Instead, you need to go with whoever has the best price for the fastest connection.

Figure out what your family’s habits are first. Do you have gamers in the house? Do you use Netflix or Hulu? Do you frequently use social media? The answers to these questions will tell you how fast you need your internet to be.

Gamers and people who stream need faster internet than people who simply use their computers to pay bills or browse social media. This is especially true for people who play games online like World of Warcraft. It’s graphics heavy and requires a great connection. If the internet fails a lot of progress can be lost.

After you figure that out, you can start searching for internet providers who have the connection speed you’re looking for. Expect to pay a little bit more for faster internet. But don’t freak out. Compare that price to the performance: what you’re experiencing now versus what you will experience. You’ll find that it’s worth a few dollars more.

Once you find some good candidates, you can begin looking for coupons and deals for new customers. There are several Verizon FiOS promos being offered as well as promos for other ISPs. Pick at least two so that you can compare them side by side with your current provider.

What to Do Before You Make Your Move

Here are a few questions you should get answered before you decide to pick a different internet service provider:

• Is my connection private, or will I be sharing it with other people? Most people don’t know this, but they can tell you you’re getting one speed, but it will slow down significantly if you’re sharing it with other households. This causes your connection to crash and makes it impossible to stream or update anything.
• Do you have certain websites automatically blocked? Some ISPs will block websites that you may visit frequently. Find out if you can still visit these sites before you sign up with them.
• How long do I have before I can cancel your service without being charged? There should be a period of time where you can try out the service, like 15 or 30 days. If you don’t like the provider you can return their equipment without being charged.
• How long is the price being offered good for? If you use a coupon code or get a bundle, you may be locked into a contract. Find out how long the price quoted is good for, and how much you’ll have to pay after that period ends.

You can get the answers to these questions either through the provider’s website, or by talking to a customer service agent.

Don’t make a hasty decision. Talk things over with your household before switching ISPs. And don’t sign up for deals without knowing what you’re getting into. The purpose of getting better internet is to enjoy it. You won’t do that if you’re in a contract with a company that you hate.