4 Things You Should Know Before Investing/Trading cryptocurrencies: A blog about having a proper understanding of cryptocurrencies

Cryptocurrencies are one of the hottest topics in the world. More and more people are talking about them, but many still don't really understand what they are or what they do. This is where our blog comes in - to help you understand cryptocurrencies, their role in society and how you can make money with them.

This blog will explain some of the fundamental principles and concepts you should know before getting started with cryptocurrencies. This process is going to take a little time, but you can ensure that you don't miss out on this rare opportunity to invest in a future where a small group of people hold the power.

If you want to get involved in investing or trading cryptocurrencies, here are 4 things you should know:

1. Timing Is Everything

Digital assets can get very volatile with cryptocurrencies such as Bitcoin or Etherium. Here the market can fluctuate wildly with little notice. If you have digital assets, it's important to keep them safe by understanding the timing of when to invest and when to sell, so that their value doesn't plummet unexpectedly. Generally, crypto investors try to "buy the dip," meaning that they'll purchase more of an altcoin when its price falls. For example, if you see a certain coin that falls sharply to $5,000 but thinks the future potential of cryptocurrencies is low, you might want to buy it when it hits $6,000 instead of waiting for it to hit $10,000. These dips can be short-lived, and many investors try to take advantage of this opportunity to make a quick profit. This can be a risky strategy because if you purchase something during a dip, it's very likely that the price will rise again, leaving you with a loss. However, with Erium Exchange's Customer-Centric Platform our traders get full market exposure starting from rates to trends of the market where they can study the appropriate behaviour of the market and make an educated decision about the buying or selling of assets.

2. You Can Buy BTC With Old-Fashioned Money

Exchanges like Coinbase and Binance are geared towards new investors. They allow the traders to buy virtual currency with their debit card, credit card, and bank account. These exchanges require little verification and put you in touch with many cryptocurrencies that can be sold for USD or another fiat currency. This is great for new investors. However, if you want the most security and the ability to buy cryptocurrency in a variety of forms, plus a higher transaction speed, an exchange like Erium Exchange might be a better choice. Erium Exchange enables users to buy cryptocurrency using an ultra-secure payment method which grants full control to the individual for their Wallet App. Hence the user can get access to their assets when they need them most with the instant withdrawal accessibility.

3. Build an Investment Strategy:

Successful investors devise a Strategy for their cryptocurrency assets which puts them in a position where they know their next 5 moves so when the market fluctuates or rise they know how to capitalize on that opportunity. This can involve setting a limit order that means their Bitcoin will be automatically sold when prices hit a certain level. Crypto exchanges like Erium Exchange also allow you to organize your financial portfolio where all your assets will showcase in one place this helps you with convenience to see the performance and trend of each and every asset you own and make decisions according to that. Those that want to use cryptocurrencies as a payment method will want to use an exchange that allows users to buy and sell cryptocurrency. Using an exchange like Erium Exchange will allow you to trade cryptocurrency more easily than through an E-Wallet.

4. Watch Out for Scammers

Advertised returns are typically inflated for crypto investments. You might hear about a particular strategy that promises big returns from obscure crypto assets, but there’s no guarantee that it will actually come out to be true. Others make exaggerated claims about how the price of a certain coin will rise. Sadly, there are some dishonest crypto actors. Hundreds of millions of dollars have been lost to Ponzi schemes and exit scams. Such shallow ethics creates fear in the traders however, with Erium Exchange we provide highly secure multi-encrypted wallets with Password protection for sensitive data so every harmful attacker is authenticated if they try to breach the accounts. This gives our users the confidence to trade over our exchange and they trust our platforms with their assets.

Conclusion:

All these four points are essential for new or experienced traders/investors to know before you invest in the crypto market and its assets and here at Erium Exchange, we provide all of these solutions in one place. Our customer-centric platform is the perfect solution for the trader who wants to buy, sell and trade their assets with ease and As we said before timing is everything, we help you to always be on time with perfect timing.