How to Lose Money Quickly Crypto Day Trading
Crypto Day Trading
Over the past few years the idea of becoming a ‘crypto day trader’ has gained in popularity.
There are countless YouTube videos all claiming to teach viewers the “real secret” to the high-flying, trading lifestyle. How you can spend an hour or two in front of your laptop every day and pocket upwards of $500 in profit on a daily basis.
Before we look at the validity of such a claim, let us look at the facts.
Cryptocurrency is a tradable asset, and it shares a lot of its characteristics with traditional trading markets such as Forex and stocks.
It is possible to make high returns from trading cryptocurrency, but there are high risks attached as well.
If you don’t know what you’re doing, you can easily lose all your money very quickly.
The lack of Government regulation in the crypto market also removes many of the so-called fail-safes that are present in other forms of trading and gambling.
Many refer to crypto trading as the wild west of the investment world, and to a certain degree they are right, but besides the slow creep of Governmental regulation, we also see many exchanges taking steps to regulate themselves.
One case in point is European exchange ETERBASE, known as the first regulation-compliant cryptocurrency exchange in Europe. Be it data protection, AML, KYC, GDPR, they have it covered, and this is looking like the way forward for any exchange that wishes to be taken seriously.
Many crypto exchanges, including some of the more popular platforms such as RightBTC offer beginners guides intended to help those new to the world of crypto trading get started in the right way.
Take advantage of these official guides, as they are usually more reliable than the stuff you’ll find from self-proclaimed successful traders on YouTube.
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