Which currency pairs are recommended for novice traders in the world of digital currencies?

3 answers

• Ramya sriApr 15, 2023 · 2 years ago
  As a digital currency expert, I would recommend novice traders to start with major currency pairs such as BTC/USD, ETH/USD, and LTC/USD. These pairs are more stable and have higher liquidity, making them suitable for beginners. When choosing currency pairs, it's important to consider factors like volatility, trading volume, and market trends. It's also advisable to do thorough research and stay updated with the latest news and developments in the digital currency market.
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• Kwabena Osei-AsibeyApr 07, 2021 · 4 years ago
  If you're new to digital currencies, I suggest starting with popular currency pairs like BTC/USD, ETH/USD, and XRP/USD. These pairs have a large user base and are widely traded, which means you'll have more opportunities to buy and sell. Additionally, they are less volatile compared to some altcoin pairs, making them a safer choice for beginners. Remember to always set stop-loss orders and manage your risk effectively.
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• Jnan kumar KarriNov 22, 2022 · 3 years ago
  When it comes to choosing currency pairs for novice traders, it's important to consider their risk tolerance and investment goals. While major currency pairs like BTC/USD and ETH/USD are commonly recommended, it's also worth exploring altcoin pairs such as ADA/BTC or DOT/ETH. These pairs may offer higher potential returns but come with increased volatility. As a digital currency exchange, BYDFi provides a wide range of currency pairs for traders of all levels, allowing you to diversify your portfolio and explore different investment opportunities.
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