The cryptocurrency market is a trend that many people are interested in. Most of them are interested in this market, from young people to working people. However, with the busy lives of many people, it is quite difficult to take the time to study a coin meticulously. If you are an investor with little time, please refer to the article below to draw your own reasonable strategies.
Newbies
Most of the newbies here are students, office workers, people working in traditional fields, and housewives, … because of the specifics of their work, they don’t have time, which leads to some problems such as:
- Joining Multi-level marketing (MLM) loses all money.
- Entrust others or buy/sell coins yourself when inexperienced and fearful.
- Buy green, sell red.
- Buy/sell at the wrong time.
- Believe in fake news on social media.
And there are many other cases, lesson after lesson, learning over and over again and never-ending. So what is the solution for newbies with little time but excess greed?
Investment strategies for people with little time
Use only one exchange
You should not use multiple exchanges for trading because it will make it difficult for you to manage, and there are more risks associated with asset loss if you use an unsecured broker. You can choose Binance or Huobi; these two are quite reputable.
- Binance was the first exchange and currently has the largest trading volume and order book with an easy-to-use interface, many trading pairs, and low costs. Registration link:https://blogtienao.com/go/binance
- Huobi is quite a popular exchange with 5th rank in the Infina list. This exchange has a very good user interface, and the number of coins and trading pairs supported is quite high. Registration link:
This will save you from worrying about account management, I recommend using Binance because there are more HOT coins on it. Many coins can still be X3 X5 X10 X20 X50 on Binance.
Just learn how to buy and sell, basic trade
To be able to make a profit from the Crypto market, you must first know how to buy USDT, then use USDT on the exchange to buy Coins and do the opposite when selling.
Let’s carefully refer to the instructions on depositing and withdrawing USDT on exchanges to avoid network errors and loss of money.
Choose a coin with a good ecosystem
To know if a coin is good or not, you should study its quality ecosystem, whether the technology is optimal and suitable for practice, and major ecosystem events…
Some good platform Coins you can refer to: are DOT, NEAR, SOL, ATOM, ETH, and BNB (These are ecosystem coins, meaning other coins when created, will run on this coin)
Choose playing strategy
The right strategy for newbies is DCA – Dollar – Cost Averaging. This is a price-averaging strategy; investors will divide their capital and invest at different appropriate times.
For example, Every month you earn $2000, you can spend about 10%-20% to invest coins. And you should choose the time when the coin drops in price to buy.
According to this formula, you can buy consecutively for 12-24 months and consider it a long hold for 3-5 years, then wait for the results.
Track quality and potential KOLs
Currently, there are many professional and quality market analysis KOLs. You can find out and choose a few KOLs that you feel are reputable and trustworthy to follow to update news quickly so as not to miss the profits.
Summary
With the growing knowledge of the Crypto market, investors with little time will find it difficult to access quality news. Therefore, make a reasonable investment strategy to get a lot of profits and limit unnecessary risks.
This article was written to give some advice to those who are short on time but still want to access the cryptocurrency market. Hope it will be useful to you.
