English 
فارسی (Persian) 
Türkçe (Turkish)
Where to start to enter the digital currency market is one of the first questions that may arise for any person who is interested in the world of digital currencies. The world of digital currencies is very dynamic and due to its rapid growth and great diversity, entering it requires knowledge and experience. In this article from the Crypto School of Farhad Moghadam Salimi, we will tell you step by step where to start to enter the digital currency market and what steps you should take to succeed in this path.
How to enter the digital currency market?
Entering the digital currency market requires knowledge and research. In order to get a better understanding of the market and understand where to start entering the digital currency market, you should first read about digital currencies and their underlying technologies such as blockchain. The first step to any successful investment is to understand exactly what market you are in and how to grow in it. But this is only the first step.
10 steps to enter the world of digital currency
In this section, we examine 10 important steps for a successful entry into the digital currency world:
Get information about digital currencies
Before you invest, you should first familiarize yourself with the basic principles and concepts of digital currencies and know where to start to enter the digital currency market. Digital currencies are actually a type of digital money that operates based on blockchain technology. Bitcoin and Ethereum are among the most famous digital currencies, but there are hundreds of other currencies, each of which has its own characteristics and uses. To get started, it is suggested that you read educational articles, videos and online courses such as Farhad Moghadam Salimi’s Crypto School courses.
Learning the fundamental analysis of digital currencies
Fundamental analysis helps you understand the true value of a digital currency based on various economic and social factors. By checking the projects related to digital currency and the teams behind them, you can make a smarter decision. Fundamental analysis is mostly used for long-term investments and allows you to make better choices among digital currencies.
Technical analysis training
Along with fundamental analysis, technical analysis training is one of the essential skills for success in the digital currency market. Technical analysis helps you predict the future behavior of the market by examining charts and price patterns. One of the useful resources in this field is the article on classic patterns of technical analysis and the introduction of its chart patterns, which you can use for a better understanding of chart patterns.
Choosing a digital currency exchange
One of the most important steps to find out where to start to enter the digital currency market is choosing a suitable digital currency exchange. Cryptocurrency exchanges are places where you can buy and sell your digital currencies. To choose a suitable exchange, you should pay attention to things like security, volume of transactions, fees and support for different currencies. Some of the reliable exchanges include Binance, Coinbase and Iranian FX exchange.
Specifying a digital currency watchlist
After familiarizing yourself with the market, you should put the currencies you intend to buy and follow in a watch list. Watchlist helps you better track your favorite currencies and monitor their price fluctuations. To prepare a watch list, choose currencies that have growth potential and good projects behind them.
Determining digital currency trading strategy
Determining a strategy for trading is one of the most important principles for success. Your strategy should be appropriate to your financial goals, risk tolerance, and the amount of time you intend to devote to trading. Some people prefer to trade short-term, while others may be interested in long-term investments. However, without a clear strategy, success is less likely.
Familiarity with various methods of ordering digital currency trade
In the world of digital currency trading, there are different ways to order. For example, you can use Limit, Market or Stop-Limit orders. Each of these methods will help you better manage your trades and use market fluctuations to your advantage.
Start trading digital currency in the demo account
One of the best ways to learn to trade without losing capital is to use a demo account. FX exchange, like many exchanges, provides the possibility of using a demo account where you can trade with virtual money and try your strategies. This allows you to hone your skills before entering the real market.
Start trading digital currency
After gaining experience and practicing on the demo account, it’s time to enter the real world and start trading with real capital. But always remember that entering the real market without having a detailed plan and proper strategy can be risky.
Preparation of trading journal
One of the important tools for every trader is to have a trading journal. In the transaction journal, all transactions, decisions and results are recorded. This will help you to identify your mistakes and improve your performance by reviewing past decisions.
How much capital is required to enter the digital currency market?
One of the important questions in people’s minds is how much capital is needed to enter the digital currency market. The truth is that the digital currency market does not have a limit on the amount of initial capital. But it is suggested to enter with small capital first and after gaining experience and confidence in your strategies, enter more capital.
What tools do we need to trade digital currencies?
You don’t need complicated tools to trade digital currencies. A smartphone or computer with an internet connection is enough. How to enter digital currency with a phone? Many exchanges have mobile applications that allow you to easily trade through your smartphone. Also, software and tools like TradingView can help you in technical analysis.
Important points you should know
- Always follow risk management in the digital currency market. Do not concentrate all your capital on one currency or one trade.
- Understanding fundamental and technical concepts is essential for success.
- If you need to transfer currencies, you can get more information on how to transfer digital currency from FX exchange to wallet.
Final summary
Entering the digital currency market may be challenging, but with proper training and knowledge of key points, you can succeed in this path. Many users ask the question, where to start to enter the digital currency market? You can enter this market by studying and researching continuously. Basically, by following the steps and strategies mentioned, you can become a successful trader and take advantage of the profitable opportunities of this market.
Frequently asked questions
Where to start to enter the digital currency market?
To get started, you must first gain enough knowledge and information about digital currencies and blockchain technology. Then, by learning fundamental and technical analysis and choosing a reliable exchange, you can enter this market.
How to enter the digital currency market?
To enter the digital currency market, you must first familiarize yourself with digital currencies and understand how the market works. Learning and acquiring knowledge from reliable sources such as Farhad Moghadam Salimi Crypto School can help you in this direction.
How much capital is required to enter the digital currency market?
There is no specific minimum capital to enter the digital currency market. You can start trading with small amounts like $100 or even less and over time, you can invest more capital as you gain experience.
