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chirinemannai

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  1. Here are a few points that summarize some of the risks involved in trading Litecoin:

    As with Bitcoin, there is little historical valuation range or comparable cryptocurrencies. Basically, it is difficult to answer a question about how to assess fair value.
    Changes in international capital controls may reduce cryptocurrency demand. Countries like China have laws protecting capital outflows; therefore, money is pumped into unregulated cryptocurrencies - to avoid such capital controls. Any change in laws relating to capital outflows may weaken demand.
    It is disorganized and, therefore, some may consider it too risky. However, this is personal. At the end of the day, it's just a coin.
    It is a commodity-like currency in nature; therefore, it is subject to market fluctuations, such as demand and supply. However, this should be a positive risk for traders dealing with commodities.


  2. Litecoin can be used and spent on a long list of merchandise with different types of merchants. The first step in making this easier is to download the Litecoin portfolio, which will then allow you to buy Litecoins from the exchange, which you can then use to purchase goods and services using Litecoins.


  3. It is important to do some research before starting trading. Here are some things to check before making your first trade.

    Reputation - The best way to know the reputation of the trading platform is to search through reviews of individual users and sites from the same well-known domain. You can ask any questions you may have in the forums
    Fees - Most trading platforms must have fee-related information on their websites. Before you join, make sure you understand the deposit, transaction and withdrawal fees. Fees may vary greatly depending on the platform you are using.


    Payment Methods - What are the payment or shipping methods available on the platform? Coins and Bitcoin only? Credit and debit card? Bank ext? PayPal? If there are limited payment options on the exchange, it may not be right for you to use them especially if you want to buy bitcoin for the first time.

    Remember that buying cryptocurrencies using a credit card will always require identity verification and comes at an additional price as there is a higher risk of fraud and higher transaction and processing fees. Buying cryptocurrency via wire transfer will take much longer since banks take too long.


    Verification Requirements - The vast majority of Bitcoin trading platforms in the world require some kind of identity verification in order to make deposits and withdrawals or increase the withdrawal limit. Some platforms will allow you to stay anonymous. Although verification, which may take up to a few days, may seem like a pain to the user, it protects the exchange from all kinds of fraud and money laundering.
    Geographic restrictions - Some functions offered to users can only be accessed from some countries. Make sure that the platform you want to join allows full access to all the tools and functions of the platform in the country where you currently live.For our explanation, we have chosen for you the digital currency trading platforms that support the countries: UAE, Saudi Arabia, Kuwait, Qatar, Oman, Egypt, Algeria, Tunisia, Morocco. While some Arab countries remain excluded from dealing in these platforms and the solution remains the centralized cryptocurrency trading platforms that support all over the world.


    Exchange Rate - Different platforms have different rates. You will be amazed at how much you can save if you buy. It is not uncommon for prices to fluctuate by up to 10% and even more so in some cases.

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  4. The most important thing to remember before you start trading is that there is a chance to completely lose your investment. Cryptocurrency markets are very volatile, and although some people have made a lot of money, many people have lost their money as well. You should never trade in any amount that you cannot lose. How you handle your losses will determine your success as a trader. Here are some important tips - never try to recover your losses by investing more. This is an emotional investment and often causes a lot of people to lose.

    FUD:
    A common term used in both the real world and the world of forex trading. This means fear, uncertainty and misinformation. “FUD” is when people or organizations try to get people not to invest in an asset by telling them they will lose all their money (or something similar). They usually say things like “it's a scam” or “it will crash”.

    You should always do your research before jumping to any conclusions or decisions. Use Google to see if the information you hear is correct.

    The FOMO:
    Fear of missing something, or Fear of missing out, abbreviated as FoMO, is a general condition that motivates people to want to be in fear of missing an event they are not involved in.

    It's one of the biggest (and most expensive) mistakes people make when trading cryptocurrencies.

    You seem to be trading cryptocurrencies… and even though they are at their highest peak (all the time) you buy them anyway, hoping they will continue to rise. The so-called PUMP also sometimes, do, and at other times (most often)…. Fall free and you and your wallet also fall, pain !! Frustration !! Regret !!!.

    Following these feelings will not work better for you to rely on a special strategy and good analysis.

    Persuasion:
    One of the things to consider before you start trading is that you should never be affected by the opinions of others. Remember that you are not the only person who wants to profit from cryptocurrency trading. Be wary of the YouTubers you are watching and listening to. They are often paid by currency projects to promote their digital currency.

    This may increase the price in the short term but may end up falling in the long term. So, always do your research first. If you have read our guide so far, you should now understand well what cryptocurrency trading is, the difference between short-term and long-term trading, and things you need to be careful about. Guess what? It's time to learn how to trade cryptocurrencies!

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  5. Have you ever heard the word “HODL”? Well, if you don't, we'll assume you're completely new to cryptocurrency space! No, it's not a word you'll find in the dictionary, but you'll definitely find it in crypto forums and chat groups for digital currencies! “HODL” is a slang word that means keeping a cryptocurrency for a long term rather than selling it. Long-term cryptocurrency trading usually means keeping one currency for one year or more.

    The idea is that although there is always volatility, the price should increase substantially in the long run. A great example is the lucky investors who bought Bitcoin in 2011 when it was only $ 0.35. If they stick to it until late 2017, they can sell their coins for almost $ 20,000 each! That's more than 57 thousand times the initial capital!

    Advantages:
    One of the main advantages of long-term currency trading is that it is easy and requires little time. You don't need to understand complex charts or graphs because you are simply looking to keep your digital currency in the long run. Unlike short-term trading, where you need to spend a long time checking the prices of cryptocurrencies, you can do so at your leisure.

    It's simple, once you buy your currency, you don't need to do anything other than wait! Another good advantage of long term currency trading is that you don't need a lot of money to get started. You can buy small amounts whenever you have some reserve money, and let it grow over a long period of time. This also allows you to avoid the pressures of market volatility, as you don't have to worry about short-term price movements.

    Defects:
    One disadvantage of long term currency trading is that you may miss a good opportunity for quick short term gains. Sometimes the value of currencies rises very quickly, just to fall straight down; the short-term trader notes this and can make a quick profit.

    Another disadvantage is that since you don't spend time analyzing the market (such as a short-term trader), you may miss some bad news. If bad news comes out that could affect the price of the cryptocurrency (such as laws and penalties), the price may fall and never rise again. So, just make sure you are familiar with new cryptocurrency news to avoid this happening. Now that you know some of the advantages and disadvantages of both short and long term currency trading, let's take a look at some of the things you need to be careful about before you start.



  6. Bitcoin certainly attracts the attention of law enforcement agencies, tax authorities and legal regulators. What they are trying to understand is how cryptocurrencies fit existing frameworks. How legal Bitcoin activities are depends on who you are, where you live and what you do with them. Basically, the answer for most countries is simple: if you don't spend your Bitcoin currencies on anything illegal, you don't violate any laws.

    Bitcoin has been around for some time now, so most governments have had time to decide on their legitimacy. As of September 2017, Bitcoin is only illegal in Vietnam, Iceland, Bolivia, Ecuador, Kyrgyzstan and Bangladesh. Some other countries have not taken an official position on the issue, while Thailand and Russia initially banned all cryptocurrencies, but retreated shortly after. More recently, Russian authorities have officially recognized Bitcoin and all other cryptocurrencies in order to combat illicit transactions (Vedomosti).
    Protection risks

    It is worth noting that while the identity requirements imposed by most stock exchanges and the preservation of their users are established, these services do not provide the same level of protection as banks. For example, if a stock exchange goes bankrupt or is stolen by hackers, the insurance of users' funds is often very limited or nonexistent at all. This was the case with the failed Chinese stock exchange MTGox, which formally filed for bankruptcy protection and admitted an irrevocable loss of 75,000 from Bitcoin to its customers. Since Bitcoin has no legal status as a currency in most parts of the world, authorities are usually unsure of how to handle thefts. There have been cases of larger exchanges replacing the money of their clients after the theft of the exchange itself, but at this stage of Bitcoin development, they are not legally obliged to do so.

    Furthermore, if the theft of cryptocurrencies occurs because of a security breach or password error by the user, there is no guaranteed way to get the money back. Some banks even refuse to work with money obtained through cryptocurrency transactions because of regulatory uncertainty.
     
     
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  7. When it comes to the economy, the price of supply and demand pays market prices. This principle also applies to the foreign exchange market.

    When the currency is bought, the demand for it increases, which pays the price up. Similarly, every time a currency is sold, the supply increases, resulting in a lower price. The impact of every purchase and sale in the Forex market is directly proportional to the size of the transaction for each transaction.

    Most of the news and economic events happening around the world have an impact on the markets. Therefore, understanding what drives the price is your key to becoming a good forex trader.
     

  8. Ten years after the 2008 financial crisis, people have not forgotten how weak the international banking system is. We cannot be quite sure but perhaps this is one of the reasons for the creation of a decentralized cryptocurrency like Bitcoin.

    Cryptocurrencies still have a long way to go, but they certainly represent a viable alternative to the traditional monetary system. Such an alternative economic network could bring financial independence and certainly have the potential to create a better society to move forward.

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