3 Important Considerations Before Trading Cryptocurrencies

cryptocurrency trading Nov 13, 2017

It's been a wild week in the world of cryptos with the failed SegWit2x effort taking Bitcoin up to 7950 and then down to 5900 at the time of this writing.

All of this volatility and media exposure has attracted a lot of new traders and investors in search of easy money.

If you're new to the Cryptocurrency space here are 3 important considerations before dipping your toes into the volatile waters.

 

1. Understand the fundamentals

Everyone has heard of Bitcoin, however, there are a plethora of independent and competing cryptocurrencies that are worth keeping an eye on.

The key is to know the instrument(s) you are trading. Just as in Forex and equities trading, understating the macro picture and more importantly, the sentiment of other traders is paramount in setting the proper trading context.

One site that you should bookmark is CoinMarketCap.

This site is a must reference to track the ongoing fluctuations in market cap and capital inflows.

I personally pay attention to the top...

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