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Need to know: three essential tips for all cryptocurrency traders

Cryptocurrency is one of the most popular order to hit the market and economic operators can hardly contain their excitement.

From darkness to fame, for many of us it was a shred of wealth and wealth for the history of rags. In 2017, prices rose from a few cents on the dollar to almost $ 20,000. A year later, that price has halved. And while there are concerns about the growth that goes on, there are still many bulls asking for higher highs.

The opinion of Michael Novogratz on Criptovaluta

For example, billionaire Michael Novogratz claims that he could reach $ 20,000 by the second quarter of 2019.

However, before this happens, Novogratz explained that Bitcoin must overcome a key resistance level of $ 6,800. This will happen, he notes, shortly after the launch of the Fidelity Digital Assets Services programs, as well as the launch of Bakkt. Both launches should attract a significant amount of institutional investments. "There will be a case of institutional FOMO [fear of missing out]just like it was in the retail. "

However, before rushing to buy, consider these quick tips for all traders

Experts warn traders must be diligent and do their due diligence before investing.

In reality, many only recommend the purchase of Bitcoins from reliable sources. Otherwise, serious problems may arise, including the true potential for fraud and loss. Investors need to know how to buy directly from the best sources.

However, it is not always about when to buy.

It is also about knowing when to sell. In fact, many of us do not know when to sell.

Of course, it's hard to sell when your currency is skyrocketing, but you're selling too late, or not at all, and you can say goodbye to all the hard-earned money. We have all seen it happen.

Buying a stock is the easy part. Knowing when to sell and leave – this is the hard part. Traders are afraid to pull the trigger and sell because they fear what could happen.

How to say when to run

But to be honest, it's not a smart way to trade. One of my favorite ways to say when it's time to take my money and run is with technical tools like Bollinger Bands (2.20), MACD, RSI and Williams'% R. Or if the news starts to become bearish, it's a good time to go out. You can always buy back in pullbacks.

Protect your money with a wallet

Bitcoin and other digital currencies are digital. They will not sit in your wallet as a fiat. Instead, they will remain protected in a digital wallet.

That said, you need to make sure that you choose the right digital wallet. Otherwise, there's a good chance you'll never be able to access, use or sell your Bitcoin.

The difference between the various portfolios

Desk wallets refer to those found on Exodus.io and Jaxx.io for example. A desktop wallet is accessible from and lives on your personal computer.

Mobile wallets can be stored on the phone. Sites like Exodus.io and Coinomi.com are reliable programs to use.

Online wallets like Coinpayments.com and Jaxx.io are reliable. In this case, a third party stores your coins in the cloud and can protect them with multi-signature portfolios.

A cold wallet can help you maintain higher levels of security to protect your coins by storing them offline. Offline storage keeps your coins and data out of reach of potential hackers. This is probably one of the safest ways to protect your resources.

To ensure that traders can store and exchange their coins without any cyber security threat, they must choose one of the best portfolios.

When it comes to choosing a digital wallet, there are several factors to consider. Some of these include convenience, portability, security and accessibility. That's why we like the following portfolios.

The first three portfolios to store your Bitcoins

Ledger Nano S

Built by a French startup, Ledger Nano S is a hardware portfolio. Therefore, it offers users access to their currencies even when they do not have the Internet. This quality is what makes hardware portfolios so secure and popular with traders. Because it's small, Ledger Nano S is very portable.

It has no battery; therefore, it only starts if connected to a computer or mobile device. Furthermore, it has no adhesive that can prevent tampering. Instead, use cryptographic technique to verify the integrity of the instrument.

It has an OLED screen with two buttons on the side. These buttons are used to easily navigate the device. When initialized for the first time, it creates a backup key for the user and displays it on the screen. Traders can use this to access their wallet securely. In addition, this private key acts as a recovery key since it restores Bitcoins at any time.

MyEtherWallet

MyEtherWallet is a free and open source cryptographic wallet based on the web. It is also available as a smartphone app that facilitates the addition of custom coins. Although it is not a rigid wallet, it is incredibly secure with anti-phishing functionality. It also allows users to create portfolios supported by the Ethereum platform.

Since its release in July 2015, Ethereum has experienced rapid growth. Today it is second only to Bitcoin regarding market capitalization. MyEtherWallet offers considerable flexibility when it comes to storing ether tokens. It is a client-side interface that helps traders interact with the Ethereum blockchain.

While MyEtherWallet allows the creation of new portfolios in the user's web browser, the information is not stored on the MyEtherWallet servers. The user's computer saves all data. It's because MyEtherWallet is an online wallet. MyEtherWallet eliminates any vulnerability related to the prospects of saving funds online.

Edge Wallet

Launched in February this year, it is one of the newest soft wallets. Initially, the developers created it specifically for Bitcoin. But they had to rebrand it for security reasons. Today it is one of the safest portfolios, thanks to its integration with the Spaceshift technology. It's easy to use and supports multiple currencies including Bitcoin.

Edge is compatible with Android and iOS devices. It supports sending, receiving, storing and exchanging coins for a series of cryptocurrencies. It also facilitates the trading of ERC20 tokens. Since 2014, the Wallet team has worked tirelessly to create user-friendly security solutions for traders. Initially, they started with a Bitcoin wallet and a merchant database. But they went on to create a portfolio that now supports multiple currencies including LiteCoin, Monero, Ripple.

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