Must-know knowledge for new entrants in the Cryptocurrency market

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2021-03-22 21:33:41

These days, it has swung a lot, so you can sit and write for you stories related to the chirping CryptoCurrency market in the past few years. For you to read and be able to ponder something, and that is the joy of the writer.

When the market heated up, gold kept breaking its peak, Bitcoin Therefore, to climb each floor of Landmark 81, when it reaches the top, no one knows. And for that reason, quite a few newcomers have inboxed for the BTA team to ask how?

BASIC POINTS TO NOTE IN THE LESSON

Before answering the seemingly simple but extremely difficult question. Yen Vai (HV) tell the lines of the previous history for you to imagine. (Hey Vai is my nickname – was the one who wrote this article)

(The sections below will have each note for newbies to learn the terms, where to read, you should consider reading the term to understand, then come back to read again, chew carefully. each part will help you shorten the learning time in this market)

In the period 2015-2016, Bitcoin went from $ 100-200 to $ 1200, and when the house talked about it, it jumped from $ 1200 back to $ 200 and stayed there 1-2 Years, the results are quite a few newcomers at that time swing …

A swing peak is a term that refers to you being bought at a high price, then the price suddenly plunges and you are swinging at that level for a long time.

In the period 2016-2017, Bitcoin in turn broke major milestones and moved towards the $ 20,000 zone. And you know, the media is talking continuously, there are hundreds of thousands of new people coming in. The good numbers are constantly being made by new players with “FOMO” without knowing it. In 2018, BTC plunged from 20k to nearly 3k … Again, continued to swing the top …

If you do not know FOMO, then read more: What is FOMO

And now that the world economic situation is unstable, Covid can cause the economy to recession, and the wealth of shelter is a chirping story being told: YELLOW, BITCOIN …

Stories or questions about should INVESTMENT BITCOIN Or not in a row is laid out, So HV as well as the BQT team BlogTienAo Compose the most complete and detailed article, please read and feel it.

First of all, you have to know where you are in the market wave cycle. I myself also predicted that I am entering the first phase of the UPTREND process, and this uptrend process may take 1-2 years …

Uptrend is a term referring to an uptrend in the market, once entering uptrend, the coins will have a breakthrough period, and when it increases, who knows.

So what should the newcomer Uptrend do?

Even if you are not Uptrend, new people want to enter the market, you need to know about: BASIC KNOWLEDGE, EXPERIENCE, and MANAGING FEELS for good.

Before going into detail each one, let’s take a look at some forms of investment, “doing business” in this market:

  1. Trade Coin (Buy low and sell high)
  2. Margin Trading / Futures
  3. Investment ICO, IEO (Buy at the price at the launch of the project)
  4. OTC (coin purchase and sale <> VND)
  5. Startup (build 1 coin / token project)
  6. MLM, PONZI (multilevel variable)

The above forms have their own articles that I will list and explain in the links below, you just need to read them to understand the concept and definition.

  1. What is View Trade Coin?
  2. What is watching ICO? What is IEO?
  3. What is OTC view?
  4. What is ponzi? What is hyip?
  5. See What is Margin Trading?

BASIC KNOWLEDGE

The basic knowledge that calculates it is also very broad, I can’t cover it all in this article. But for newbies, the most basic knowledge is to know how to buy & sell coins (BTC, ETH, USDT, ALTCOIN).

Only when you know how to buy and sell coins <> VND can you initially participate in this market. In many previous articles, we also talked about this a lot, which is to prepare wallets, VND money, …

But now just shorten 1 option only to save you from having to mess (Most new people with too many options will not know how).

See the concept: What is Altcoin?

Currently, for the convenience of trading coin, I recommend using 2 floors. That is Binance and Huobi. Because through their OTC portal, you can buy coins at the cheapest cost. From there it was very easy to switch to the floor.

What is View Binance? and what is Huobi?

I choose these 2 exchanges because these are the 2 with the largest volume in the world in the current Crypto array, and it has its own insurance fund in case of hacking. Note, if it is hacked by the exchange, it has insurance, and if you leave your account hacked, it’s your fault!

So what steps do you need to take?

# 1 Register for a Binance and Huobi account, register link here:

Use the email and phone number you’re using, and sign up, then verify your identity and enable 2fa (authenticator) security for your account. You can see the instructions in this article:

  • Instructions for registration, verification and security of a Binance account, see here
  • Instructions for registration, verification and security of Huobi account, see here

Important note: Please enable 2FA (Authenticator) security to make your account safe, do not let one day, your coin evolves, grows wings, then you cannot cry in time.

See what is Authenticator concept?

# 2 Practice buying and selling Coin to VND and vice versa

Once you have a Binance and Huobi account, you can choose 1 of 2. The markets and signals you usually see most are on Binance, so you can choose Binance to practice this step 2.

On Binance there is 1 item, that is called Binance P2P – This is the place for OTC transactions between people wishing to buy and sell. And want to join this market, you need to know this stage, so that when you need to buy, take profit, then sell.

For example, if you need to buy 1000 USDT, you will have to prepare about 23,200,000 in your bank account, and that account must have internetbanking or smsbanking to send money.

USDT, also known as Tether, is a virtual currency Stable Coin, listed in USD, See more What is USDT?

And for the sake of guidance, the Virtual Currency Blog has written in great detail about Binance P2P, you just need to see the instructions and slowly follow in the post: What is Binance P2P?

# 3 Practice basic trading coin on Binance

Remember, to take turns, clear steps one, then move on to the next step

This part we have edited by both article and video, you can see in turn:

So, if you finish all the steps, you already know a little bit about “TRADE COIN” and congratulate you, you will be in the next generation of swings!

Remember that this market is not as good as you think, in order to eat in this market, you also need a lot of combat experience that is probably only available when you enter this market for a while.

Our job now is to “go to the market”, choose a certain coin, you can get those signals from friends, or the community. BTA also has a small community where free signals are available, see here:

In addition, you can join other discussion channels to gain experience, also of BTA. That is:

In Vietnam, most of them use Telegram, you should know about it: What is Telegram?

After TRADE COIN for a while, you will draw your own experience. You will need to be more flexible and faster to be able to “catch up” with this market. You will see bitter endings like: it must have a tracking chip, every time I sell it increases, I buy it crashes …

Or luckily fast-paced, your job is simply to find a good GEM, buy and wait patiently for it XXX. In order to do that, you have to fluently move COIN between exchanges.

For example, there is a delicious row on the floor KUCOIN, Your job is to convert USDT to KUCOIN to be able to buy that item. Which floor is GEM on? Who knows now? The best way is to just register all the floors, you can refer to the list below:

1. Binance: https://CHK.com/go/binance
2. Huobi: https://CHK.com/go/huobi
3. Kucoin: https://CHK.com/go/kucoin
4. MXC: https://CHK.com/go/mxc
5. Bitmax: https://CHK.com/go/bitmax
6. Bibox: https://CHK.com/go/bibox
7. HOO: https://CHK.com/go/hoo
8. OKEX: https://CHK.com/go/okex
9. FTX: https://CHK.com/go/ftx
10. BIKI: https://CHK.com/go/biki

A bit more, right, but get used to it gradually …

So consider finishing the first step then, the pile of knowledge above, you are a newcomer, you will have to chew again and again very carefully, and those are the simplest ones. If even that simple and basic you can’t do it, it’s best not to think about entering this market anymore.

There is also a section in this basic knowledge section Fundamental Analysis, is what you’ll have to learn next. When you read the documentation on CHK, you will see coin introductions such as:

Those are the articles that we have synthesized, so that you can evaluate a certain project based on your basic analysis ability, then consider the project has potential or not before deciding to invest. .

There are knowledge that readers will not understand, if you do not understand or you google to find more, or you go to our facebook group to ask questions, other friends will be happy to help you.

Also, to know if 1 token / coin has a reasonable price? Then in addition to basic analysis, you will have to learn more Technical Analysis to find the right entry and exit points. Thereby reducing your risk when investing.

BlogTienAo has also cooperated with Saigontradecoin to open monthly class, you will learn 1 fundamental analysis and 7 technical analysis articles for $ 300. Specifically see here

There are 2 stories that I want to tell you for fun and fun before the end of today’s post:

Story 1:

There are 2 guys who trade coin, they are best friends, so of course invite each other to play.
One guy plays a hold and the other plays a day by day. Of course, the guy’s experience is higher than a hold.

He surfs every day showing off 10% profit every day and he shows it every day, the other guy looks and wishes but he just dares to hold.
One day uptrend comes, the coin flies to the roof …

In summary, the lucky surf a few dozen% of the original capital, and a hold, then x20-x50 the original capital …
(actual story in 2017)

Story 2:

As you know. in December 2017, we see btc moon, and 1/2018 alt moon (at this time btc collapses) .. (moon is a term referring to the coin’s rise, to the moon).

At the beginning of 2017, people used to play on the BTC-E exchange, at that time it was a boss. If compared to the beginning of 2017, it is already x10 cmnr… And of course there were quite a few people who were rocked when the market was excited. I remember it was ~ 2000-3000 $ 1 btc, up from the bottom 200 of 2016 …

At that moment, BTC-E collapsed … due to the investigation of money laundering by the FBI … As a result, ad got 150k-400k $ on it.

Luckily, by September, if admin correctly remembered, BTC-E opened again, the result was increased to $ 4,500. And how much pressure gradually dissipated, and immediately discharged … And missed the train when the end of the year BTC reached $ 20k.

At the beginning of 2017, selling 200-300 btc was very good … Every month, admin sold that much btc …

If you know beforehand and “forget” about 500 btc or 10000 ETH, you know … what will it be like now ?? !!!!

What is the conclusion of the two stories? Becoming a holder is very difficult, it is not easy to pack in a word holder, when going through this market, it is difficult to understand how difficult it is to be a holder … The GEM is delicious, and patient enough to HOLD it to a specific goal.

Fundamental Analysis

Most of the articles about the basic information of coin account for 70-80% of the basic knowledge, you have to mull it over a lot, sometimes read it over and over a dozen times to understand. Over each period, you reading the same article will draw other interesting knowledge.

And all of these articles are updated in the forum by BTA Cryptocurrencies on CHK.com

Learn Technical Analysis (PTKT)

The BTA found a page that has quite interesting videos, that is ptkt.trade – has most of the ptkt videos and capital emotion management as well as the basics of floor registration and floor use for newbies. Everyone can refer.

To be continued … BTA will update the Basic Analysis, Experience, and Emotion, as well as the Technical Analysis videos in this article … Each time we update it will be announced on CHK’s media channels such as Fanpage , Telegram Channel, and Twitter.



#Mustknow #knowledge #entrants #Cryptocurrency #market

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