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P.S: If you trade only the top coins by market cap (that is coins like Bitcoin and Ethereum and some from 3 - 10 on coinmarketcap), then the chances of losing everything overnight are slim (not impossible, but slim). Other cryptocurrencies are riskier (but can offer quick gains on a good day). In general, coins with lower market caps and volumes tend to offer a greater risk/reward.
Consider mitigating risks, hedging, learning some TA, and not “going long” with all your investable funds.
P.S: If you trade only the top coins by market cap (that is coins like Bitcoin and Ethereum and some from 3 - 10 on coinmarketcap), then the chances of losing everything overnight are slim (not impossible, but slim). Other cryptocurrencies are riskier (but can offer quick gains on a good day). In general, coins with lower market caps and volumes tend to offer a greater risk/reward.
No better way to welcome you to REKT CITY than to leverage altcoins, but some who dive deep into crypto culture will come along the temptation quickly. Common sense says don’t do this out of the gate, so here is your warning!
Cryptocurrency trading is a taxable event. If you don’t understand the tax implications of trading cryptocurrency tread very carefully. There are some nasty traps you could fall into when trading coins, if this sounds confusing, stick to SPOT
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