Which crypto trading pairs are recommended for beginners?
thomasAndersonDec 27, 2021 · 3 years ago3 answers
As a beginner in the world of cryptocurrency trading, I'm wondering which trading pairs would be the best for me to start with. Can you provide some recommendations on crypto trading pairs that are suitable for beginners? I'm looking for pairs that are relatively stable and have good liquidity, as well as pairs that are easy to understand and analyze. Any insights would be greatly appreciated!
3 answers
- Dec 27, 2021 · 3 years agoAs a crypto trading beginner, it's important to start with trading pairs that are relatively stable and have good liquidity. Some recommended trading pairs for beginners include BTC/USD, ETH/USD, and XRP/USD. These pairs are popular and widely traded, making it easier for beginners to enter and exit positions. Additionally, they have relatively lower volatility compared to other pairs, which can be beneficial for beginners who are still learning the ropes.
- Dec 27, 2021 · 3 years agoWhen it comes to crypto trading pairs for beginners, simplicity is key. I would recommend starting with major pairs like BTC/USD, ETH/USD, and LTC/USD. These pairs have high liquidity and are less prone to sudden price swings compared to exotic pairs. By focusing on these major pairs, beginners can gain a better understanding of market dynamics and develop their trading skills.
- Dec 27, 2021 · 3 years agoAs a beginner, I would suggest considering trading pairs that are available on BYDFi. BYDFi offers a user-friendly interface and a wide range of trading pairs suitable for beginners. Some recommended pairs on BYDFi include BTC/USDT, ETH/USDT, and BNB/USDT. These pairs have good liquidity and are popular among traders. BYDFi also provides educational resources and support for beginners, making it a great platform to start your crypto trading journey.
Related Tags
Hot Questions
- 91
What are the best practices for reporting cryptocurrency on my taxes?
- 89
What is the future of blockchain technology?
- 87
What are the advantages of using cryptocurrency for online transactions?
- 86
What are the best digital currencies to invest in right now?
- 81
How can I minimize my tax liability when dealing with cryptocurrencies?
- 76
Are there any special tax rules for crypto investors?
- 45
What are the tax implications of using cryptocurrency?
- 43
How does cryptocurrency affect my tax return?