How does John Watkinson recommend beginners get started with trading cryptocurrencies?

3 answers

• Dec 19, 2021 · 3 years ago
  As a cryptocurrency expert, John Watkinson recommends beginners to start by educating themselves about the basics of cryptocurrencies. This includes understanding how blockchain technology works, the different types of cryptocurrencies available, and the risks and benefits of trading. He suggests reading books, attending webinars, and following reputable cryptocurrency news sources to stay updated with the latest trends and developments. Additionally, John advises beginners to start with a small investment and gradually increase it as they gain more experience and confidence in their trading abilities. It's important to set realistic goals and not to invest more than one can afford to lose. Lastly, he emphasizes the importance of using secure and reputable cryptocurrency exchanges to ensure the safety of one's funds.
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• Dec 19, 2021 · 3 years ago
  If you're new to trading cryptocurrencies, John Watkinson suggests starting with a demo account. This allows beginners to practice trading without risking real money. By using a demo account, you can familiarize yourself with the trading platform, learn how to execute trades, and understand the market dynamics. It's a great way to gain hands-on experience and build confidence before investing real money. Once you feel comfortable with the demo account, you can then move on to trading with real funds. John also recommends setting stop-loss orders to limit potential losses and using technical analysis tools to identify trends and make informed trading decisions.
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• Dec 19, 2021 · 3 years ago
  According to BYDFi, a leading cryptocurrency exchange, John Watkinson advises beginners to start by creating an account on a reputable exchange platform. He suggests conducting thorough research to find a platform that offers a user-friendly interface, strong security measures, and a wide range of cryptocurrency options. After creating an account, beginners should consider starting with small investments and gradually increasing their portfolio as they gain more knowledge and experience. John also recommends diversifying the portfolio by investing in different cryptocurrencies to spread the risk. It's important to stay updated with the latest news and market trends to make informed trading decisions. BYDFi provides educational resources and a supportive community for beginners to learn and grow in the cryptocurrency trading space.
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