EN In the past few years, Trade Cryptocurrencies in Thailand has become widely known With many people interested in both digital assets and investments, resulting in crypto investment. There is rapid growth in Thailand. It is expected that in the future there will be even more growth because there are still many supporting factors such as the growth of technology and government acceptance. It is considered the heart of the growth of Cryptocurrency market This article will help you get to know the basics of cryptocurrency trading and investing.
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Overview of crypto
Even though many people think that Cryptocurrency market and the future of cryptocurrencies It is just a dream and a prediction. Unable to sustain in the long term Just like coins that have failed in the past. But that's because those coins are not as transparent as major cryptocurrencies like Bitcoin and Ethereum, even though their prices have dropped somewhat. But it was able to recover and reach new highs in 2024, with a total market value of over 2 trillion US dollars. which has become more widely accepted by institutions and retail investors
· Trends and market changes for crypto in 2024
1) Cryptocurrency market trends in Thailand Financial institutions and companies There is increasing acceptance of digital coins. Some financial institutions have started investing in cryptocurrencies and crypto exchanges. This adds credibility and stability to the market.
2) The Rise of DeFi Decentralized finance (DeFi) has exploded in popularity. It provides traditional financial services such as lending and blockchain-based trading.
3) Development of NFTs, Non-Fungible Tokens
4) Central banks or CBDCs have begun to emerge that central banks from around the world are interested in and are starting to test currencies through CBDC to modernize their own countries' currencies. Safe and internationally accepted
· Investment advice regarding cryptocurrencies Best Crypto Apps and Coins
In 2024, investors should study the Crypto trading website Popular applications and coins Because that means all of your investment can be lost if you choose the wrong investment in the wrong coin. Popular cryptocurrencies in Thailand 2024 consists of
1) Bitcoin (BTC) is a Store of Value digital coin that has been accepted by investors around the world. Importantly, there was only $21 million.
2) Ethereum (ETH), a Smart Contract digital coin with the second largest value size. which has been proven throughout the past ten years Able to endure and receive continuous development.
3) Binance Coin (BNB) Value Transfer coins can currently be used to pay fees on the Binance exchange and buy goods and services from various stores instead of cash.
4) Solana (SOL) is a coin that is classified as Defi (Decentralized), which is decentralized money distribution. without going through a middleman
5) Cardano (ADA) is a type of blockchain. Proof-of-Stack with ADA as the main transaction coin. which is spent as a fee to perform Smart Contract transactions on the network
Choosing a platform to trade on
As the trend of crypto trading becomes more popular. Fraud and scams among investors have also increased. Investors should choose the platform that suits them. Being safe and reliable is important. Here we will introduce Crypto trading guide and The best cryptocurrency trading website in Thailand 2024 consists of
6) KuCoin, one of the cryptocurrency trading service providers. There are as many as 50 million users from around the world. Suitable for all types of investors. Especially investors who are starting to trade. Because there are simple, uncomplicated commands and functions, along with a community that provides advice or studies. More than 30 knowledge locations
7) Kraken, another broker from the United States, is recognized by investors around the world as a highly secure application and is the only exchange that has never been hacked.
8) Coinbase is a platform with a lot of functionality. Especially the Thai trading manual function menu. That will make everyone able to understand trading and increase trading knowledge.
Investment strategy
A cryptocurrency investment strategy consists of two main parts: short-term trading and long-term trading. which investors must rely on Crypto trading guide and the following factors are factors in choosing to buy digital coins. It mainly relies on buying and selling popular cryptocurrency coins in Thailand. Because it has high liquidity and market value and is popular with investors from around the world. The trading strategies can be divided as follows:
Short-term trading includes:
- Day trading is suitable for investors with expertise. Focus on making profits in a short period of time. Don't hold it for another day. Most rely on technical charts to analyze price fluctuations and trade during the night. Because it is daytime in America and Europe. resulting in high liquidity
Long-term trading consists of
- Looking at the fundamentals It is similar to trading stocks based on a good company budget. But for crypto, considering the ability and demand of the coin in the market is the main factor. Especially coins that are popular to trade and are accepted internationally.
- buying and holding Investors must be able to analyze the long-term trend of a coin's value. Then there will be an opportunity to make a high profit. Because buying and holding Most rely on confidence in the technology related to that coin. that in the future it will be able to create enormous value for investors
- Buying average or DCA due to the high volatility of crypto coins Buying on average will help keep costs low. Because it is an average of the same purchases every month, which may have some low prices. Some are alternately high. But overall the average must be lower than the current price, etc.
Tips for short-term trading of cryptocurrencies
- Coin safety and transparency: Investors should check the origin of their coins, the number of coins traded, and the security of the platform from hackers, especially in Short-term crypto trading.
- Market Capitalization: The price of a coin multiplied by the total number of coins in circulation. Consider price fluctuations, especially if there are coins that are locked and may be released to the market in the future. This may affect short-term trading.
- Liquidity and trading volume: Liquidity and trading volume should be related, which is important for short-term strategies.
- Trading Costs and Fees: Consider the costs of trading digital coins. To help make decisions Tips for buying crypto Will be useful.
3.2 Invest in long-term crypto in Thailand or Buy and Hold
It involves purchasing and holding an asset for a period of months or years. Focusing on the structure of coins that have strong fundamentals and have long-term growth potential and are supported by various currencies, such as Stablecoin Such as Tether(USDT) and MakerDAO (DAI) etc.
Risk management
To reduce the risk of investing in crypto and to keep the portfolio flexible. In addition to diversifying risk, you should know how to use Stop-Loss to limit losses in the event that the price drops to an unacceptable level. Managing risk in crypto investing in Thailand There are quite a few. To allow you to fully understand the crypto market and the assets you invest in to reduce the risk of making imprudent decisions.
Digital wallet and security
- Type of wallet There are currently two main types: Hot Wallet, a digital wallet that connects to the internet, and Cold Wallet, a digital wallet that doesn't connect to the internet.
- It's best to choose a digital wallet that has strict security measures, such as two-factor authentication. High level of encryption and support for any cryptocurrency you want to store.
- Investors should choose a Crypto Wallet provider that is popular and reputable. Because you will have more confidence and safety. You can see popular cryptocurrency wallets in Thailand. More at Popular Crypto Wallets
How to store digital assets safely
- Create a strong, unique password for any account.
- Enable two-factor authentication.
- Store Seed Phrase Safely
- Avoid connecting your wallet to unsecured internet.
- Keep up to date with security updates.
- Be aware of common scam tactics such as phishing scams and impersonation.
Conclusion: The future of cryptocurrencies in Thailand
Although the growth of cryptocurrencies in Thailand looks promising, But there are still many uncertainties and challenges regarding the use of blockchain technology and cryptocurrencies. Including the problem of inequality in access to information. State governance that must be properly managed Because many parties are still concerned about the impact that this may have on the financial system in the country. The Stock Exchange and the Bank of Thailand must closely monitor and supervise digital currencies in the country.
Future crypto strategies
- Choose to invest in crypto that is environmentally friendly This may be a sustainable investment in the future.
- Invest in DeFi projects in the form of decentralized finance (DeFi), which is an important trend in the crypto market.
- Choose to invest in non-fungibles (NFTs) because they are gaining popularity and have the potential to generate high returns.
- Choose to invest in Metaverse, a virtual reality asset powered by blockchain that has the potential to revolutionize the way we live and work.
However, investors should study and gain knowledge from Crypto Trading Guide Before investing every time They may choose to invest in popular core coins rather than focusing on unknown coins. And most importantly, be careful of being hacked or deceived into your personal information to the point of causing damage.
FAQ (Frequently Asked Questions About Cryptocurrency Trading)
1. What is Cryptocurrency?
Cryptocurrency is a digital currency that uses blockchain technology to conduct transactions. High security And money can be transferred between people without having to go through an intermediary such as a bank. Popular examples of cryptocurrencies include Bitcoin and Ethereum.
2. What do I need to do to start trading cryptocurrencies?
You can start trading cryptocurrencies by signing up for an account on a reliable trading platform such as KuCoin, Kraken or Coinbase, then funding the account. and start trading the desired crypto coins
3. What should you consider when choosing a crypto coin for investment?
Choosing a crypto coin should consider factors such as market capitalization, popularity, technology behind it, development team and wide adoption. Interesting coins to invest in in 2024 include Bitcoin, Ethereum, Binance Coin, Solana, and Cardano.
4. What are the ways to hedge your risk in crypto trading?
Hedging crypto trading can be done by diversifying your investments across multiple coins, setting Stop-Loss to limit losses. and regularly studying and following news about the crypto market
5. What types of digital wallets are there? And how should you choose to use it?
There are two main types of digital wallets: Hot Wallets (wallets connected to the internet) and Cold Wallets (wallets not connected to the internet). It is best to choose a wallet with strong security measures such as peer-to-peer authentication. two factors and data encryption
6. What are the advantages of investing in crypto for the long term?
Investing in crypto for the long term has advantages such as: Long-term value growth and creating stable returns Investors can choose to invest in coins with strong fundamentals and growth potential, such as Bitcoin and Ethereum, to generate future profits.
