Minimum:
Don't need over $500 to trade on Binance. I started with $9 (USDT) approximately ~ Ksh. 1170. Current $ rate is ~Ksh.129. The minimum amount you can trade on Binance is $1. You heard that right! ...$1 to place a trade.
Fees:
Spot fee which I recommend for beginners to stick to is 0.1%. Assume your $9 starting capital. You fees will be $0.009 equivalent to 1.1 Ksh. Your balance will be $8.99 available to trade with.
Strategy:
Have a solid strategy behind every trade. Don't find out the hard way like most of us did. SL is your savior. Without SL, a slight slip below your margin level=liquidation. #ZEC to the moon, wild chase without SL might lead you to a red line. Trading without a plan=90% lose.
Tricks:
1. Stick to spot
2. Stick to the big boys in the house: #BTC, #ETH, #LTE.
3. Forget about x100 dream in 3 days. 5-10% profit p.m is good enough. Your $9 today, then $10, then $12, then $14 and..... Is good 👍. Slow is fast! Not my word though...
Takeaway:
Not so big capital to hit the road. Patience will pay you handsomely.
What do you have to say about your beginner experience? How much was your capital on Binance? Did it take off ✈️ or it became school fees?
Share with us 👇 here.
#Binance #CryptoKenya #beginner #Trading #BTC