Step by step: how to start getting involved in cryptocurrency without experience

What you need to know before your first deal

The cryptocurrency market has attracted millions of participants around the world, but many newcomers feel lost among the complex terminology and constant price fluctuations. How to start engaging with cryptocurrency correctly? This is the question that everyone who decides to try their hand in this field asks themselves.

Unlike traditional financial markets, the cryptocurrency space operates without interruption — 24/7, 365 days a year. This provides traders with extraordinary flexibility, but at the same time means constant volatility and changing conditions. The basic sequence is simple: you buy an asset, hoping its value will go up, or you sell, betting on a decline. However, the reality is much more nuanced.

Fundamental Basics for Beginners

How the trading system is structured

In the world of cryptocurrency, one can engage not only in buying assets. Traders open long positions (buying with the expectation of an increase) or short positions (selling with the expectation of a price drop). Some participants hold assets for months or years, while others enter and exit within minutes. The choice depends on individual risk tolerance and preferences regarding the pace of trading.

Trading occurs through trading pairs. For example, BTC/USDT means exchanging Bitcoin for Tether (, a stablecoin pegged to the US dollar). You can also trade cryptocurrencies against each other (ETH/BTC) or digital assets against traditional currencies (BTC/EUR).

At the time of writing, one bitcoin is priced around 92,175 euros in the BTC/EUR pair, while ether is trading at ~0.02285 BTC per unit. It is important to note: even small amounts are available for entry—you can start investing from 5 euros in bitcoin.

Private recommendation: platform selection

How to start engaging in cryptocurrency? The first step is to choose a reliable cryptocurrency platform. A quality exchange should have a proven reputation, robust security mechanisms, responsive support, and a clear operational history. Beginners are advised to start with centralized platforms instead of decentralized exchanges (DEX). Once you gain experience, you can explore more complex solutions.

The standard login process: registration with an email, setting a password, agreeing to the terms. Most platforms require identity verification procedures (KYC)—providing a passport, confirming the address, and other documents.

Practical steps to start trading

Account replenishment and entry strategy selection

After creating an account, you need to fund your balance. Centralized platforms allow deposits via bank transfers, payment systems, or credit cards. If you already have cryptocurrency, you can transfer it to the exchange, but—attention!—send assets to the correct addresses. Bitcoin goes to the Bitcoin address, Ethereum to the Ethereum address. An error is irreversible.

Regarding order types, traders use two main options:

Market order ensures immediate execution at the best available price. If the current highest bid from buyers for bitcoin is $100,000, and the lowest ask from sellers is $100,100, your market order to buy will be executed at $100,100. It's quick, but the price is unknown until execution.

A limit order allows you to set a precise price. If bitcoin is worth $100,000, but you want to buy at $98,000, you can place a limit order. If the price falls to your level, the trade will execute. If it does not fall, the order will remain unfulfilled. This gives you control over the price, but does not guarantee immediate execution.

Order Book: Why is it Needed

The order book is a dynamic register of all active buy and sell orders at a specific moment. It shows the volume at which people are willing to buy or sell at different price levels.

Bid ( buy orders are arranged from highest to lowest price—showing how much others are willing to pay. Ask )sell orders( are arranged from the lowest to the highest price—showing at what price people are willing to sell.

The difference between the highest bid and the lowest ask is called the spread. A wider spread indicates less liquidity, while a tighter spread is a sign of an active market.

Main Trading Strategies and Their Features

) Day trading: quick entries and exits

Day traders open and close positions within a single day, often relying on technical analysis. This strategy can be potentially profitable but is extremely stressful—it requires constant market monitoring, quick decisions, and significant time. Not recommended for beginners due to its complexity and emotional burden.

Swing trading: short and medium term

Swing traders catch price fluctuations over a time horizon ranging from a few days to a few months. Positions are held longer than in day trading, but shorter than in long-term investing. This is the optimal option for beginners, as it combines the potential for profit with a sensible balance of time and stress.

Scalping: microsecond trades

Scalpers operate on the smallest time intervals—minutes, seconds, even milliseconds. They aim to gain tiny profits from micro-price movements, often executing dozens of trades a day. It is also not recommended for beginners—it requires experience, psychological resilience, and often uses specialized technical indicators.

HODL: long-term position

In contrast to active strategies, long-term holding is a “buy and forget” strategy. Investors buy cryptocurrencies they believe in and hold them for months or years, waiting for the overall market to grow. This is the least stressful method and ideal for those who believe in the long-term potential of the assets and are willing to withstand short-term price fluctuations. Historically, bitcoin has shown significant returns to holders over multi-year periods.

Analytical Tools for Decision Making

Technical Analysis: Reading Charts

Technical analysis is the deliberate study of price charts, recognizing recurring patterns, and using indicators to predict potential movements.

Candlestick charts are a fundamental tool. Each candle represents a time period of ### hour, 1 day, 1 week, etc.( and consists of four key values:

• Opening )O(—first period price
• Maximum )H(—highest price of the period
• Minimum )L(—the lowest price of the period
• Closure )C(—the last price of the period

Support and Resistance are critical levels on the chart. Support is the price below which an asset rarely falls )demand zone(. Resistance is the price above which an asset rarely rises )supply zone(.

Popular indicators include trend lines, moving averages, Bollinger Bands, Ichimoku clouds, and Fibonacci levels. Each indicator helps to capture patterns and identify entry and exit points.

) Fundamental Analysis: Assessing True Value

Fundamental analysis evaluates cryptocurrency through the lens of its technology, team, practical application, and growth prospects. This approach includes:

• Technology analysis — code quality, security, scalability
• Project Roadmap — upcoming updates and features
• Development Team — experience and reputation
• Tokenomics — distribution, inflation, reward mechanisms
• On-chain metrics — number of active addresses, transaction volume, movement of large players

How to Manage Risks: A Reliable Foundation for Trading

Risk management is the heart of successful trading activities. Without it, even profitable strategies can lead to catastrophic losses.

Rule: do not trade with money you cannot afford to lose

This is the most important principle. Allocate only the portion of assets for cryptocurrency trading that, if lost, will not affect your financial well-being. Use advanced order types for protection:

• Stop-loss order automatically closes a position when a certain price is reached, limiting potential losses.
• Take-profit order locks in profits when the price reaches the desired level.

Exit strategy—plan A and plan B

Many traders enter positions with enthusiasm but forget about the exit. How to start trading cryptocurrency wisely? Always prepare an exit plan before entering. It's easy to get caught up in a bull market, but having clear benchmarks—where you take profits and where you take losses—is critical. Use limit orders to automate the process: set the maximum losses you are willing to tolerate and the desired price for profits. Plan your trades and stick to the plan.

Diversification: don't put all your eggs in one basket

Distribute capital among several assets. Do not invest 100% in one token. If you hold bitcoin, Ethereum, Solana, and other assets in reasonable proportions, a large loss on one asset won't destroy the entire portfolio. Periodically rebalance—sell assets that have risen significantly and buy those that have lagged to return to the original proportions.

Hedging: an advanced protection method

For those who already have experience, hedging is opening an opposite position in a related asset. For example, if you have bitcoin worth $100,000 and you are afraid of a decline, you can buy a put option, which gives you the right to sell bitcoin at a fixed price. If the price falls—you are protected. If it goes up—you only lose the premium for the option, but still profit from the underlying position.

Tools for Mastery Improvement

Keeping a trading journal helps track all transactions—not just the results but also the logic behind decisions, psychological state, and lessons learned. Over time, you will see patterns in your successes and mistakes, which will allow you to refine your methodology.

Every trader is unique. Instead of copying others, it is recommended to develop your own system tailored to your style, time frames, and risk tolerance. Refine it through observation and adaptation.

Key Findings

Cryptocurrency markets are extremely volatile and unpredictable, but they also offer significant opportunities. How to start engaging in cryptocurrency with the least risks? Focus on education, risk management, and discipline.

Keep learning continuously, stay updated on events in the crypto ecosystem, improve your skills, and adapt strategies as needed. Remember: no one becomes an expert overnight. Time, patience, and consistent experience are your best allies on the path to stable results in cryptocurrency trading.