As KuCoin celebrates the 3rd anniversary of futures worldwide with a special campaign, it highlights in 4 steps what all crypto users should pay attention to when trading on exchanges.

Cryptocurrencies, which have become the focus of investors by the end of 2020, are also attracting a lot of attention in our country. While Turkey is one of the world’s leading countries in the use and adaptation of cryptocurrencies; It also reveals the interest of many investors in this field in our country. While in a bull cycle many investors can profit from almost all cryptocurrencies, it can be difficult to make a profit when entering a bear market. Regardless of the market conditions, there are certain things that investors should pay attention to when investing in cryptocurrencies.

Preparing to celebrate its 5th anniversary this year, KuCoin continues to organize campaigns that provide opportunities to its users in various fields, starting with a secure infrastructure of the exchange and taking into account the technological adaptation in which the market is developing rapidly. It is just as sensitive to accurately informing its users as it is to the campaigns. In this sense, KuCoin describes the 4 steps that users should pay attention to when trading cryptocurrency markets:

1. Determine the right amount to invest

If an investor wants to invest in the cryptocurrency market or any other world market, he must first determine the amount that he will invest and make sure that there is an amount that will not adversely affect the investor in case of a complete loss of this amount.

Many investors can invest all of their savings in assets or borrow even more with the expectation of high returns. However, taking such steps can lead to a loss of money with a sudden fluctuation in the market. For this reason, the investor should always invest with an amount that will not get himself into trouble.

2. Research the cryptocurrency and its project

Besides determining the amount to invest, one of the most important things is to research the cryptocurrency to be invested. Investors can invest in projects they’ve heard of but have no idea about. The steps taken in this way can sometimes hurt the investors with the project having already completed its upward movement and/or an adverse development occurring later in the project. At present, it is very important for investors to research that cryptocurrency before investing in any cryptocurrency so that the investor can make their own investment decision according to their own profile.

Nowadays, with the increasing adoption of cryptocurrency, many scams have appeared in projects. The way to distinguish these projects is to thoroughly examine the project. The investor has to consider a lot of data such as the vision and mission of the cryptocurrency project, founders, technical article, development steps, partnership studies.

By looking at the exchange collaborations, it is possible to get an idea of ​​the infrastructure and reliability of the projects. At present, KuCoin can provide funds to the projects it chooses by considering many criteria for the development and development of the ecosystem, or it can support the promotion and advertising activities of the projects with the “Safeguard Program”.

In addition, he should monitor the current news flow in the market and investigate whether there is a positive or negative news flow about the cryptocurrency he wants to invest, and if possible, he should create an investment strategy by mixing this information with technical analysis.

3. Set a strategy

One of the most difficult parts of the job for investors determining how much to invest and what cryptocurrency to invest in is to be able to trade by controlling their emotions.

The most important premise for managing emotions while investing is to start and end with a strategy. The investor must correctly determine how much he will invest and determine the entry and exit strategy for the cryptocurrency he will invest. If you don’t invest in line with a particular strategy, it’s possible to panic and sell on any declines or get into a FOMO during a rise and fail to close the position in time. For this reason, the investor must determine in advance where to take the position, where to stop the loss and where to take profit.

4. Pay attention to selection and security criteria for exchanges

With the rapid development of the cryptocurrency market, many investors have a hard time choosing an exchange. It is necessary to ensure that the invested exchange has a secure infrastructure and provides uninterrupted service. Founded in 2017, KuCoin Exchange provides uninterrupted service in more than 200 countries around the world, as well as safely storing investors’ assets thanks to its insurance fund.

Moreover, the diversity of cryptocurrencies and product diversity in the cryptocurrency exchange to be traded provide various alternatives for the investors and enhance your experience in the cryptocurrency industry. It is very important to conduct your trades securely on an exchange where you can access gems projects and specialize in project listings.

KuCoin, which allows its investors to trade with more than 700 cryptocurrencies, offers a wide world to its investors by listing gem projects that can be traded with confidence. KuCoin is the world’s largest altcoin exchange that allows you to experience the widest range of cryptocurrencies with not only cryptocurrency trading, but also staking, mining pools, smart trading bots, NFT marketplace and much more.

Source: (BYZHA) – Beyaz News Agency