In 2021, crypto users invested $30 billion in the crypto industry, which is more than throughout all previous years.
The Crypto Industry is booming, and the demand for cryptocurrency trading continues to grow.
However, there are still beginners in this field; and who knows – maybe the most popular New Year’s resolution for 2022 will be to start trading crypto! That’s why we’ve come up with the three best tips for crypto traders.
These tips will be actually useful, regardless of what your level of experience is. Let us start with the first one:
Develop your Strategy
You should never buy tokens just because the price is low. Unfortunately, there is a possibility of it never getting higher at all.
Try to look critically at the project. How many users does it have? What problems does it solve? Does it have any links with the industry? Avoid projects with hollow offers that they will never back up.
Set limits on how much you invest in a particular digital currency, and don’t be tempted to trade with more money than you can afford to lose.
Vary your Crypto
Diversification is the key here. Since cryptocurrency is unpredictable, the best way to get past uncertainties is to diversify. Spread your money out among different digital currencies.
In this case, you don’t risk being over-exposed if one of them falls rapidly in value – especially as the market prices of these investments are highly unstable.
In Crypto, you need to act fast; otherwise, you lose your money. But sometimes, it’s nearly impossible to do. For instance, implementing a Multi-Chain transaction could take a while.
This is often due to all these different bridges, fees, and swaps that are needed to place Multi-Chain transactions, or to trade ERC-20 tokens to BEP-20 – the process ends up being extremely expensive and time-consuming.
Fortunately, there are various platforms that enable trading across blockchains without wasting time and money. Though it’s still complicated to find the right one.
If you haven’t decided on what exchange to use, we’d recommend using the most comprehensive one.
One of the most ultimate solutions for beginners is Rubic. It has a simple and intuitive UI, that won’t take you long to grasp.
And if you are an experienced Crypto trader, you’ll possibly appreciate Rubic’s Multi-Chain Swap Protocol; with a huge amount of different assets available to swap between 7 blockchains.
Rubic is the most innovative project in the field; with a simple, working solution for transferring more than 10,500 tokens across Polygon, Ethereum, BSC, Avalanche, Moonriver, Fantom, and Solana – in one click! You can even, for example, easily swap $LINK to $CAKE or $BNB to $JOE.
With Rubic, you can definitely act fast, since it does all the complicated stuff for you; like searching for the right bridges and the lowest fees.
We hope these tips might help you to sustain yourself through the cryptocurrency market in the long run. Remember, all you need is strategy, diversification, as well as the right and fastest platform to trade on!