Today many new people aim to join the cryptocurrency market and become owners of digital coins. Nothing is surprising in such a desire, for crypto investment and trading can bring significant profit in the short and long term. The key question that worries all beginner traders is what crypto asset to buy. In this article, will list the main things one should consider before deciding to buy cryptocurrencies.
Every successful trader has made their own mistakes in the past. Based on them, we composed the list of facts to look for before buying cryptocurrency:
- Check out who are the project’s founders and developers. Do they have a good reputation in the crypto industry?
- Check out media outlets: what is the news on the projects? Wasn’t it noticed in any scandal?
- Check out the project’s social networks and see if they are filled with the information. Is the community engaged?
Next, analyse the crypto asset itself:
- Is it traded on popular crypto platforms?
- What is its price, trade volume and market capitalisation?
- What underlies the asset, and what technology is it built on?
- How does the crypto chart look like? Find patterns and historical indicators.
The next step is to pick a reliable crypto exchange for buying cryptocurrency.
WhiteBIT is a centralised platform operating under European jurisdiction registered in Estonia. The exchange gained an excellent reputation and over 2 million clients. It provides over 400 pairs for trading and the option to purchase digital assets using real money. When you buy crypto, sell it or exchange it, you pay a fixed fee of 0,10%. The platform has an extensive community of users and a standalone resource for additional information such as guides on trading, crypto coins explained, new project reviews, and so much more interesting information – WhiteBIT Blog. It also reviews different trading strategies and helps understand crypto charts. Using the blog and the WhiteBIT exchange, you can study and practice simultaneously. WhiteBIT offers demo trading for those who want to receive enough skills and confidence in trading.