Which forex pairs should beginners focus on when trading digital assets?

3 answers

• Nov 29, 2021 · 3 years ago
  As a beginner in trading digital assets, it's important to focus on forex pairs that have high liquidity and are commonly traded. Some popular forex pairs to consider are BTC/USD, ETH/USD, and XRP/USD. These pairs offer good trading opportunities and are widely supported by most cryptocurrency exchanges. By starting with these pairs, beginners can gain valuable experience and understanding of how forex trading works in the digital asset market.
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• Nov 29, 2021 · 3 years ago
  When it comes to trading digital assets, beginners should prioritize forex pairs that have a strong correlation with the digital assets they are interested in. For example, if you're trading Bitcoin, it would be wise to focus on forex pairs like BTC/USD or BTC/EUR. These pairs are directly influenced by the price movements of Bitcoin and can provide valuable insights for trading decisions. Remember to always do your research and stay updated on market trends to make informed trading choices.
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• Nov 29, 2021 · 3 years ago
  When trading digital assets, it's crucial to choose forex pairs that align with your trading strategy and risk tolerance. At BYDFi, we recommend beginners to focus on major forex pairs such as BTC/USD, ETH/USD, and LTC/USD. These pairs offer high liquidity and are less volatile compared to some other exotic pairs. By starting with major pairs, beginners can minimize risks and gain a better understanding of the market dynamics. Remember to always practice proper risk management and never invest more than you can afford to lose.
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