The Cryptocurrency market has been expanding incredibly and is valued at 1.49 billion USD as of 2020. If it continues to boom at the same speed, it is expected to reach the $5 billion mark by 2030. Given the volatility of the Crypto coins, a Crypto trader can benefit from large price movements of different digital currencies every day. Investing in just one Cryptocurrency and hoping for great returns is not efficient. You need to know how, when, and what else to invest. To help you out, we have put together the 10 tips essential for Bitcoin and Crypto trading:

1. Don’t hold altcoins too long
An altcoin is a digital currency that is not Bitcoin. Most altcoin prices are dependent on Bitcoin’s market price as they are considered a less expensive Bitcoin alternative. Since the market prices of Bitcoin and altcoin are relative, it is advised to not hold altcoins for too long. This is because Bitcoin prices are projected to continue rising in the coming years. The rising Bitcoin price will eventually drive down the prices of altcoin, which could lead to potential losses.

2. Prepare for a volatile market
The Cryptocurrency market is one of the most volatile markets worldwide. This is mainly because it is an unregulated market, which means no government or economic health of a country affects its price. The Crypto market has experienced extreme highs and lows in recent years. As a result, a beginner Crypto trader needs to be cautious when entering the market.

3. R​esearch about each digital token
Over 6,000 digital currencies are floating in the Cryptocurrency market as of 2021. However, there are some digital currencies that are not as stable as others. Avoid getting into a rug pull by researching their backgrounds before investing. Read about when the token was launched, who or what backs it, historical price fluctuations, and future projections.

4 . Buy the dip wisely
Identify stop-loss levels for your trade to lock in potential profits and limit losses. Most traders set stop-loss orders at the purchase price so if prices fall lower than that level, the order is triggered. You may also set your profit targets the same way. For example, as soon as your token reaches your target price, go short to lock in your gains.

5. Consider investing in common Cryptocurrencies
Most traders buy and hold reputable Cryptocurrencies like Bitcoin and Ethereum long-term. One should consider holding these tokens because their prices tend to increase over time. Bitcoin is known for its high volatility. This is why experienced investors now prefer holding the token for at least 1 year to gain significant profits. 

6 . Always keep an eye on Cryptocurrency news and global developments
Be updated on the latest Cryptocurrency news in and outside your country. This is because some news affect market price fluctuation. Global developments also impact prices regardless of where you are trading from. For instance, the recent Facebook rebranding to the name Meta drove up the price of Decentraland MANA by 400% in 48 hours. Knowing news about Crypto and regular global changes can help you always stay ahead.