When the COVID-19 pandemic hit, many people lost a significant amount of their investment portfolios. This was especially prevalent in the cryptocurrency space, with many coins losing up to 90% of their value. While the cryptocurrency markets have mostly bounced back since then, it’s still unlikely anyone will ever recover the money they lost due to the pandemic.

For those who want to prevent such events from occurring again, it’s important to learn from the mistakes of others. One of the most famous investment groups, Bridgewater Associates, stated in a recently published report that during the pandemic, retail investors lacked the knowledge needed to enter and exit the markets successfully.

According to the report, about 40% of retail investors traded during the pandemic without any formal training. This potentially dangerous practice cost them their investment capital. Without proper education, it’s almost impossible to pick the right times to enter and exit markets. This is why it is so important to study the habits of the pros – people who have been in the investment game for a while and have accumulated significant expertise.

With the recent spike in popularity of cryptocurrencies, more investors are looking for ways to get into the market. One of the best places to do that is the bityx exchange . This cryptocurrency exchange provides the tools an amateur investor needs to become a successful speculator. In this article, we’ll discuss the best way for crypto novices to get started trading Bitcoin, Ethereum, and other popular cryptocurrencies.

Create an account

One of the first things anyone new to the cryptocurrency space must do is open an account. Remember, you’re investing in a cryptocurrency, not a company or a product, so you must have money to invest. In the case of the Bityx exchange, users can easily create an account with only a few clicks of a button. Once the account is set up, users can log in and get to work. There’s no need to worry about resetting passwords or verifying emails – all accounts are incredibly secure.

Choose a cryptocurrency to invest in

Next, users must choose which cryptocurrency they want to invest in. At the time of writing, the most popular options are Bitcoin, Ethereum, and XRP. It is also possible to invest in other cryptocurrencies, but given the volatility of most cryptocurrencies, it is highly recommended to stick with the big three.

XRP is the native cryptocurrency of the Ripple network. It was designed to be a more stable alternative to Bitcoin and Ethereum, and it currently has a market cap of over $11 billion. If you choose XRP, be sure to check out its price in detail before you buy or sell any – otherwise, you might get disappointed if you choose a volatile cryptocurrency and it subsequently loses a large portion of its value.

If you’re new to cryptocurrencies, it’s always a good idea to begin with Bitcoin. Not only is it the most popular cryptocurrency, but its prices are relatively stable. If you’ve been paying attention to the news, you’ll know that Bitcoin was one of the best performing currencies during the pandemic. As a result, it has become immensely popular among investors – and that means it’s a good place to start for anyone new to the markets.

The ideal portfolio for beginners

Now that you have an account set up, you must choose an ICO (Initial Coin Offering) to invest in. An ICO is a type of fundraising that occurs when a company introduces a new cryptocurrency or coin to the market. It’s similar to a Initial Public Offering (IPO) on traditional stock markets, except that instead of selling shares to the public, an ICO sells a portion of a new cryptocurrency to the general public. To learn more, check out our blog post on ICOs and the best one to invest in – currently, the answer is Steem.

As the popularity of cryptocurrencies increases, more investors are looking for ways to diversify their holdings. If you’re looking for an alternative to traditional stock markets, you might want to check out the Bityx exchange. This platform allows investors to easily create a diverse portfolio of cryptocurrencies. With Bityx, an amateur investor can simply create a fictional character named Protagonist. He or she will then be tasked with creating a diverse portfolio of three to five cryptocurrencies. This portfolio will then be stored in a Mining Pool (a type of virtual wallet that acts as a repository for cryptographic coins). The user whose character you are controlling will then be able to watch the portfolio grow over time as you make trades – all without any previous experience in investing!

It’s important to note here that creating a diversified portfolio of cryptocurrencies is a fairly simple task on Bityx, but it can be quite challenging to determine which coins to include in the portfolio given the constant price changes and regulatory uncertainty in the space. As a result, it often leads new and experienced traders to overbuy or hold on to their investments during uncertain times in the hope that the price will rise. This is generally considered a dangerous practice, especially with cryptocurrencies, as prices can quickly turn against the user due to unexpected news events or government regulations that affect the price of a coin.

Watch the price of your chosen cryptocurrency change

After creating a diversified portfolio, the next step is to watch the price of your chosen cryptocurrencies change. Remember, this is uncharted territory for most people. It’s like watching a stock market stock and trying to guess whether or not it’s a good time to buy or sell. Most people have no idea how much they don’t know about investing. In the case of the Bityx exchange, this is made easier with the inclusion of Smart Charts that track the prices of various cryptocurrencies in real time. With Smart Charts, even experienced traders can easily understand the prices of cryptocurrencies and make better investment decisions.

Learn to read cryptocurrency news responsibly

Last but not least, let’s discuss the most important thing a person need to know before getting involved in the world of cryptocurrencies – how to read the news responsibly. In the vast majority of cases, the news articles related to cryptocurrencies are positive in tone, and that’s mostly because most people who are covered by the mainstream media are overly fearless of losing money. However, this doesn’t mean that all news articles regarding cryptocurrencies are positive – far from it! There have been countless cases where people have lost a significant amount of money due to various scams and fallacious rumors spread by irresponsible media outlets.

In the case of the Bityx exchange, all news articles are carefully curated by a member of the professional financial media team. As a result, users can rest assured that the information they are being provided with is credible and won’t lead them to lose significant amounts of money. Plus, there’s always the option to report any suspicious activity to the proper authorities.

Investment in cryptocurrencies is fairly high-risk, and that’s mainly because, as previously stated, it’s not easy to gain access to such a large audience of experienced and knowledgable traders willing to share their insights with you for free. However, if you’re looking for an easy and safe way to get involved in the world of cryptocurrencies without risking too much capital, the Bityx exchange is the perfect place for you to start. With this platform, you can easily create a diverse portfolio of three to five cryptocurrencies and then watch the prices of those cryptocurrencies change over time – all without risking too much capital. Plus, you can use the free practice account to familiarize yourself with the operations of the platform and get to work without any previous experience in investing!