7 Important Things to Trade Bitcoin on Indodax that Must Be Understood
Hello Indodax Member. For those of you novice traders who trade bitcoin or other crypto assets, but are still not profitable?
In fact, other people benefit every day. How come? You need to understand the things below. Anything that must be considered while trading in order to remain profitable?
Here are 7 important things about trading crypto assets that must be understood.
Indodax Members Need to Understand the Crypto Asset Market
You certainly need to understand and study the market about crypto assets. You can learn from experts to learn about these crypto assets. You’re wrong, if you think you don’t need to study the crypto asset market.
Each investment product or commodity exchange has different risks. Likewise with crypto assets, such as bitcoin. If you make a wrong move, you can lose all the money you invested.
There are many references from experts and it is spread on the internet. In addition to the matter of risk, you can learn many things, such as sentiment that makes crypto assets go up or down, price predictions and others.
The Importance of Understanding Blockchain
Once you understand what crypto assets are, it’s also important to understand what a blockchain is. It is intended that you do not feel cheated or feel cheated by the city or platform where you are trading.
Blockchain is a database with a decentralized system. In the financial sector, blockchain systems such as digital financial records can be accessed by all users. The difference, on the blockchain, its users do not need central or central approval or third parties.
In fact, the blockchain is driven by various parties connected in that network. For example like bitcoin transactions. So, bitcoin is recorded in the ‘cash book’ which adopts the blockchain system. With this technology, transactions will be safer and not easily broken into.
Selective When searching for information
Lots of references about bitcoin and crypto assets circulating on the internet. However, not all of it is true. There are many websites that cannot be held responsible for the contents of the article. Therefore, novice traders must understand the sources or references that are read.
You can do your own research before you see recommendations from experts. After you know the right way from the right source, then you can trade.
Choose a Clear Platform
The beginner’s mistake is not to see or research investment or trading platforms. When you see ads or hear information about trading platforms such as crypto assets, make sure they are correct. Ensure that the website or platform is recognized internationally and by the Indonesian government. It’s important that your money doesn’t just disappear. Because there are so many false investment / trading platforms nowadays.
One of the recognized and safe crypto asset trading / investment platforms is Indodax.com.
Indodax has obtained a permit from the Commodity Futures Trading Regulatory Agency (BAPPEBTI). Indodax became the first crypto asset marketplace company in Indonesia to get two international certifications. Two ISOs received by INDODAX at the same time are 9001: 2015 and 27001: 2013. With the recognition of the Indonesian government and the international standard they have received, this indicates that Indodax is a trusted crypto asset investment platform company.
Even though the price of crypto assets such as Bitcoin can be worth hundreds of millions of rupiah per coin, transactions in Indodax make it possible to start from 10 thousand rupiah, making many Indonesians interested in this trade and become full-time livelihoods. Indodax is dedicated to members and prospective members to transact crypto assets using Rupiah with the best, fastest, easiest and most secure system. For tips on choosing an exchange, let’s click here.
Controlling Emotions When Making Decisions
When trading or trading on Indodax, you will see a chart of crypto asset price movements. After you invest some money or a deposit, your feelings or emotions begin to react to seeing the movement of the chart.
There is a sense of regret if we look at the graph increasing or decreasing. Then, we rashly buy crypto assets with emotion and without monitoring its movements, without technical and fundamental.
In fact, when the graph goes down, you panic and get scared. Then withdraw your money from the crypto asset. In fact, a few minutes after you pulled it back up.
Things like this should be remembered by novice traders or investors. This does not only happen on the Indodax platform or crypto assets. But it also happens on other trading platforms.
So, think clearly and discard emotions are things that need to be held when trading or investing. If you experience a loss, believe all work has risks. Don’t despair, keep calm and observe price movements well.
Invest in Different Crypto Assets
At Indodax, there are many types of crypto assets. Not only the popular ones like bitcoin and Ethereum. Indodax trades more than 60 crypto assets. If you want to become a business-centered trader, you need to invest your money in different crypto assets. So when one token is decreasing, there is another token whose graph is up. Then, you still profit.
It’s legitimate if you invest all your money in one token. However, you have a higher risk than investing in various types of crypto assets. Because you only ‘bet’ your money on one asset.
Don’t Expect Instant Wealth
Many beginner traders who expect to get rich quick from trading on Indodax. Remember! There is no wealth that can be achieved in an instant way. All requires a process. Many novice traders who get bored never profit. There are many who are already lucky, but feel fortunately a little until they stop in the middle of the road just like that. This happens because they hope to get rich instantly through trading.
For that, you need to instill the thought that wealth will come gradually. You need to appreciate the learning process and understanding of crypto asset trading.
Well, that’s 7 ways that must be understood by Indodax members, especially for novice traders. Hopefully it can provide inspiration for the members.
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