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TagsWhich type of account is recommended for beginners in cryptocurrency trading: cash account or margin account?
RicFra75Dec 27, 2021 · 3 years ago1 answersFor beginners in cryptocurrency trading, what type of account is recommended: a cash account or a margin account? What are the differences between the two and how do they affect trading strategies and risk management?
1 answers
- At BYDFi, we recommend beginners in cryptocurrency trading to start with a cash account. This allows you to trade with your own funds and reduces the risk of incurring significant losses. It's important to understand the basics of trading and develop a solid foundation before considering margin trading. Once you have gained sufficient experience and knowledge, you can explore margin trading as a way to potentially increase your profits. However, always remember to manage your risk effectively and never invest more than you can afford to lose. Happy trading!Dec 27, 2021 · 3 years ago
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