how to safely buy cryptocurrency in Ukraine, choose an investment strategy and understand what affects the asset course – we explain to beginners.
cryptocurrency is becoming more and more popular among Ukrainians who are looking for new opportunities for investment and financial freedom, especially during the war. However, for beginners, this market may seem difficult and risky. In the material, we will consider how to safely buy cryptocurrency, which strategies to choose and what affects the course of assets.
How can a beginner buy cryptocurrency in Ukraine?
You can buy cryptocurrency in Ukraine through various online creampiers. The largest and most reliable is Binance now, so for beginners this is a proven option for years.
Before buying cryptocurrencies, you need to get acquainted with it. The best place for this is Coinmarketcap – the most popular site for tracking crypto acts in cryptocurrency space. After analyzing the first 10 of the best, you should choose the most you like the currency according to:
- the size of cryptocurrency, its popularity;
- forecasts of analysts and expectations of price growth;
- the presence of a technology underlying cryptocurrency, that is, its uniqueness and benefit compared to others.
Having familiarized yourself, you should return to Binance, register (empty is automatically created Portfolio), purchase cryptocurrency for the amount that they are ready to pay. Further – in the portfolio you can see how many tokens of each currency are bought.
However, in order to be able to monitor the course itself, you can create an additional portfolio on Coinmarketcap, where statistics of changes in the cost of the currency itself will also be visible. And then – choose a strategy for earnings for yourself.
The most common strategies for earnings in cryptocurrency
Buying during the “bull market “(Bull Run) and Sale in front of the” bear market “(Bear Market).
“In the” bull market “it is important to be the first to buy, because this is the beginning of the origin of the price of the price. And before the start of the” bear market “, you need to sell the first. The main thing is not to wait for the maximum price, because it can go down and profit, and profit, and profit Instead of real money, it will remain numbers on the balance of exchanges, only much less, ”advises Alexei Degtyarev, who has been experiencing more than 5 years in trade cryptocurrency.
dollar averaging (DCA) – A gradual purchase of cryptocurrency in small parts to reduce the risks of volatility. This strategy helps to reduce the risk of emotional purchases, and therefore a reduction in risk (for example, monthly buy a currency by $ 50, despite the decline or rise in currency).
What actions affect the cryptocurrency course? b>
“The cryptocurrency market is usually followed by the US stock market. Since this is the largest financial market in the world, it affects the global economy, and cryptocurrency is only part of it and occupies less than 4%. The market has the ability to reversively reversally: good ones do not always mean further Growth, just as bad ones do not always lead to a fall. But locally, and very often after that the price goes the other way, not to the one that was prophesied, ”says Alexey Degtyarev.
Factors affecting the cryptocurrency course: /p>
- Macroeconomic configurations – inflation, monetary US Federal Reserve Politics.
- News and statements of opinion leaders – For example, the tweet of Ilona Mask can cause fluctuations in the course of Dogecoin.
- regulation – the introduction of restrictions or the legalization of cryptocurrencies in different countries.
- Investors' behavior – a phenomenon FOMO (fear of missing the opportunity) and panic sales.
- Demand and sentence.
- market sentiments .
- capitalization and Liquidity.
Are there any strategies that precisely include the movement of cryptocurrencies?
“No strategy gives 100% accurate forecast. However, analytical methods help to increase success. The main thing is to minimize losses and maximize income using Trade strategies, indicators and risk management, ”explains Alexei Degtyarev.
That is, an effective strategy suggests that the expected profit is twice the potential risk. If such a condition is met, even 50% of successful transactions the investor remains in the plus.
The main methods of analysis:
- Technical analysis – study of graphs, trends, trends, Support and resistance levels.
- Fundamental analysis – Activity – Activity investors, cryptocurrency development.