What factors do you consider before buying or selling crypto currencies?

[Caali]

When it comes to finding the best fiat to crypto exchange things are not all that easy. Many of the best crypto exchanges to buy digital currencies are only recently online. This means that they have had little time to get the word out about their services and products.

 

[Diddi01]

I am very careful when buying and selling cryptos. To buy crypto currencies, it is advisable to buy it when it is at it is lowest point on the chart so that when it goes up you will have huge amount of it. But that in itself is a risk because, what if the price never goes up again and keeps going down? Well you just have to be a little more patient.

 

[Profwriter]

The acceptability of the coin but the market is very dynamic because the rate at which coins appreciate is very high although it also depreciate with little or no notice. I think the best thing to do is to invest in many coins as possible.

 

[Debola]

Before you buy or sell crypto currencies, what are those factors you consider before finally deciding on whether or not to go ahead. I hope many members share so we can all be enlightened.

10 Things to Consider Before Investing in Digital Currencies

• How much you want to invest.
• Your risk tolerance.
• How you will store your digital assets.
• Where to buy digital currencies.
• The community behind the coin.
• The technology and its value.
• Where the digital currency is heading.
• The project's whitepaper.

 

[Olahab]

An important consideration for investors and traders is an exchange that offers with low and competitive trading fees. High trading fees can eat into your native currency deposit by taking off a percentage each time. This fee applies each time you buy, trade and sell a cryptocurrency.

 

[Tinaconcept]

Before buying or selling a coin in cryptocurrency trading I do check ratings of such coin from other people and as well check the chat if the coin has risen over some days. From the coin chat you can decide if to buy such coin or not but most importantly patient is key.

 

[Bookwormlux]

10 Things to Consider Before Investing in Digital Currencies

• How much you want to invest.
• Your risk tolerance.
• How you will store your digital assets.
• Where to buy digital currencies.
• The community behind the coin.
• The technology and its value.
• Where the digital currency is heading.
• The project's whitepaper.

Risk tolerance is what I have figured out to be most important to me. Before venturing into trading of any crypto currency, one has to ask himself if he would be ready to bear it whenever the coin crashes. Some don't put this in place that's why they panic sell.

 

[Lyrrex]

If it is a new coin obviously it won't have history but you just need to know more about the history and successful projects carried by the company behind it and of it is already existing coins check out the trade volume, market cap and price trend

 

[Sheyemanu]

Concerning this question, before buying any crypto coin, I always consider the rate at which people welcome the coin. No matter how new a coin is, some people will surely talk about it. Either positive or negative effect of the crypto coin. Then, whoch platform is selling the coin? Is it a legit platform? And the exchange rate.

 

[Olamide wealth]

What factors do you consider before buying or selling crypto currencies?​

 

[Nicklas22]

There are many factors to be considered before buying or selling cryptocurrency
One of the factors you have to consider before buying a Crytocurrency is your risk tolerance, where to buy cryptocurrency and how much you want to invest and so on.

 

[Klismannm12]

If you want to be a very good at reading cryptocurrencies for example me that isn't the trading of cryptocurrencies I don't usually buy when it is high that that I buy when it is at its lowest then I buy and what she tries and women's it rises high that I can be able to make at least 18% profit of it then I sell

 

[Olahab]

important consideration for investors and traders is an exchange that offers with low and competitive trading fees. High trading fees can eat into your native currency deposit by taking off a percentage each time. This fee applies each time you buy, trade and sell a cryptocurrency.

 

[Eodine]

I like to look at the trend of the coin that I am investing into before I invest to me the trend determines if there would be more rise than fall but sometimes I might be wrong but it works.

 

[Obaterof]

Cryptocurrency is known for funding illegal transactions. Yet legal businesses also accept cryptos for transactions. Cryptos offer speedy, low-cost money transfers. This makes using them for international money transfers popular. In fact, a $99 million litecoin (LTC) transaction took only two and a half minutes and cost the sender less than one dollar in transaction fees. Cryptos are free from authorities and can't be frozen. That's because only an owner with a private key to the wallet has access to the asset. Investors can also speculate in listed cryptocurrencies, betting on which ones will succeed and which ones will fail.

Post automatically merged: Feb 8, 2021

Cryptocurrency is known for funding illegal transactions. Yet legal businesses also accept cryptos for transactions. Cryptos offer speedy, low-cost money transfers. This makes using them for international money transfers popular. In fact, a $99 million litecoin (LTC) transaction took only two and a half minutes and cost the sender less than one dollar in transaction fees. Cryptos are free from authorities and can't be frozen. That's because only an owner with a private key to the wallet has access to the asset. Investors can also speculate in listed cryptocurrencies, betting on which ones will succeed and which ones will fail.

 

[Akinwale701]

Before you buy or sell crypto currencies, what are those factors you consider before finally deciding on whether or not to go ahead. I hope many members share so we can all be enlightened.

There are many things that I personally like to consider before trading Cryptocurrency... For buying, I ask myself what if this coin dumps in price after buying, that is gonna be loss to me, and also when I sell, I think, what if it pumps after selling it, although it has happened to me severally but it doesn't mean anyways.

 

[Kingsley]

This are factors to consider
1. We must consider the level of our understanding of cryptocurrencies
2. We must always follow expert advise
3. We must always study the trend
4 buy when it depreciate and sell when it appreciate.

 

[Bookwormlux]

Hi

There are many things that I personally like to consider before trading Cryptocurrency... For buying, I ask myself what if this coin dumps in price after buying, that is gonna be loss to me, and also when I sell, I think, what if it pumps after selling it, although it has happened to me severally but it doesn't mean anyways.

Though it is better to think long term so you do not bother about small drop in price or rise in price. With long term investment, you are only interested in making bountiful profit after a certain period of time.

 

[Davis]

You must make research on the coin before buying;Not all coin gas Future, some may vanish.You can also check the transaction fee, the rate at which it's accepted and i increase in value.

 

[Akinwale701]

Hi

Though it is better to think long term so you do not bother about small drop in price or rise in price. With long term investment, you are only interested in making bountiful profit after a certain period of time.

Yes this is more reason a lot of short time traders on bitcoin lose bountifully. I remember when a friend of mine who trades on Remitano told me he bought a coin of 1500$ but when he experienced a dip of like 20$, he was too scared to keep it, he had to sell at a loss... Some hours later, the coin rose High in the wallet of the person he sold it for.