What kind of market is the cryptocurrency space?
This is for the newcomers to the space. The cryptocurrency market is different from the stock market; cryptocurrencies can be traded 24 hours a day, year-round without breaks. You can trade contracts and use leverage, with leverage ratios ranging from 1x to 125x. Here, it is not recommended for beginners to trade contracts because cryptocurrencies have no price limits; even with a low leverage of 5x, a 20% fluctuation can lead to liquidation, wiping out your account balance.
As someone who has been trading in the cryptocurrency space for almost two years, I suggest beginners stick to spot trading, and only buy leading cryptocurrencies like Bitcoin, Ethereum, and Binance Coin. Don't listen to others talking about how much a certain altcoin has risen and rush to buy altcoins; most altcoins are headed towards zero.
Cryptocurrencies also have many shortcomings; even if you hold Bitcoin, it does not generate any interest annually. Unlike stocks, which provide dividends each year. This is why Buffett says that cryptocurrency is a kind of poison, and he never touches such assets.
For young people, the cryptocurrency market is a place full of risks and opportunities. For most people, the risks far outweigh the opportunities, and you might not wait until the day you make a profit before falling early on. So I also advise those who want to make a big splash in this circle to invest a little pocket money to play around; even if you lose, it doesn't matter.
The cryptocurrency market has not been performing well in the last two months; the vast majority of traders are in a state of loss, with very few making profits. We are currently in a bear market, and it is not yet the right time to buy cryptocurrencies. Buying now is undoubtedly handing over to institutions.
The cryptocurrency market is a zero-sum game; the money you earn is the money someone else loses, and the price of cryptocurrencies only depends on how much later participants are willing to pay.
If you are still anxious about what cryptocurrencies to get into right now, or if you're feeling down about missing out or being stuck in a bad position, stop overthinking! Chat room speed
