Tasks in the field of blockchain demand high technical knowledge and skills, which can be useful in investing and trading in crypto platforms. On the other hand, starting a crypto trading career is different – even though it’s not as complex as compared to the jobs in blockchain, there is still a lot that you have to learn and understand, such as cryptocurrency concepts, tips, and techniques. The thing that separates the jobs between blockchain businesses and crypto trading jobs relies on your skills.
To be a valuable asset in the field of blockchain, you must possess a technical background and have knowledge of computer programming. Meanwhile, in a crypto trading career, what you must possess is knowledge about trading along with a short experience.
Engaging in Cryptocurrency solely affects your investments, so it’s important that you should be aware and prepared to handle the cryptocurrency risks before investing. On the other hand, since trading affects your investments, all the profits that you earn would land on your account if all things just go right. Even though you are interested in engaging in blockchain tasks, you can still do crypto trading in order to increase your earnings.
In this article, we’ll tackle all about crypto trading careers and how to start one!
How to start a crypto trading career?
Before you fully invest everything that you have to be a crypto trader, remember that there are some important things that you need to master. Being a crypto trader means having full knowledge about cryptocurrency and trading. So, if you have experience in trading stocks, you probably need just a little more information and practice. But if it’s your first time, prepare yourself as there is a lot to learn!
What you need to take note of and understand is that compared to stocks and financial assets, the Cryptocurrency market has a volatile nature, which means the values of the digital coins could go up and down. As the crypto market is still developing, you should be prepared how to handle this volatility as you can never be so sure about your speculations and where your hard-earned funds will take you.
Once you have knowledge about the basics of cryptocurrency, you can start planning about trading or investing. To start a crypto trading career, we’ve compiled the three easy steps that you should follow:
- Open an account in a crypto trading platform
Even though you’ve done extensive research and read articles, you cannot fully learn how to trade cryptos without hands-on experience. The most effective way to learn to trade is to get out and explore the field. With this, you must complete the first step – open an account in any crypto exchange to understand how the field works.
With the various crypto trading platforms such as Bitcoin up, it can be tricky which one to choose and start your career with. The best thing to do in this case is to read up on various resources about the different crypto platforms – online, talking to an expert, joining crypto communities online, or reading reviews.
After creating an account, the second step includes preparing some documents in order to complete the KYC reporting requirements, which is important in the blockchain to get verified. If you are a beginner, you can start with crypto exchanges that provide you with the option to buy cryptocurrencies through a fiat currency. After completing the first two steps, you may start to complete the KYC process. Remember to enable two-factor authentication for an added layer of security.
- Purchase Cryptocurrencies
Newbie investors are highly recommended not to invest huge amounts of money right away. This mindset applies to everything that you want to do: observing, learning the basics, and mastering the basics. You may start buying a small amount of Cryptocurrency that you wouldn’t mind losing. With this, the ideal choice for you to try is Bitcoin, as it stands as the most promising cryptocurrency of the moment. Other good choices include Ethereum and Ripple.
You can read more tips here:
- Stay Updated
After purchasing your first Cryptocurrency, you are now ready to earn profit from it! After your investment, make sure to stay updated and observe the price movements. As mentioned, the crypto market has a highly fluctuating nature, so it’s important that you know how to study price charts in order to take advantage of the rising value of your cryptocurrency on time. There are various ways to keep updated by subscribing to trusted news sources that deliver the latest crypto news.
To have a successful career, make sure to avoid committing the common mistakes that new investors make, such as selling coins for a lesser price after seeing the value fluctuating in the wrong direction. Make sure to read some tips on how to have a successful career to avoid losing your hard-earned funds!