We wanted to talk about trading vs holding crypto. We get a lot of questions on this within the groups we admin/moderate on Facebook. So, let's get into it.
If you want to trade cryptocurrency you can use several online exchanges. Please keep in mind online exchanges come with a few risk. The major one is that your private keys for your crypto are not controlled by you. This means in the event of a hack or the exchange shutting down, you could lose all your crypto. If you're ok with this possibility, then trading could be for you! You want to determine a few things when trading, like risk tolerance, entry points and exit points for each coin, and daily and weekly goals. I won't get into too much strategy as each person is a little different.
This one is a little simpler. Just hold the coins. That's really it. Move them off the exchange and into a software or hardware wallet. Then use SafeLedger+ to backup the information on those wallets. This is a great strategy if you see long term potential in a coin, you want to keep a portion of your position in cold storage, or you want to keep your coins protected.