Key Safety Strategies for Crypto Trading:
Choose Trusted Exchanges: Use reputable platforms with high trading volume and strong security, such as Coinbase, Gemini, or Kraken, and complete KYC verification.
Secure Assets: Never keep large amounts on exchanges. Use cold storage (hardware wallets) for long-term holding and activate 2FA for all accounts.
Manage Risk:
Set stop-loss levels to automatically close positions and cap potential losses.
Never invest more than affordable.
Diversify investments; start with large-cap cryptos like Bitcoin and Ethereum.
Avoid Emotional Trading: Avoid FOMO (Fear of Missing Out) and panic-selling during dips.
Secure Setup: Avoid using public Wi-Fi for trading, use unique/strong passwords, and avoid storing seed phrases on devices.
Educate Yourself: Learn the basics of technical analysis, such as reading candlestick charts and understanding market trends.
Common Pitfalls to Avoid:
Avoid "get rich quick" schemes.
Avoid trading on high leverage without experience.
Pay attention to regulatory news.
