Attention all crypto traders! Have you ever stopped to wonder what kind of trader you are? In this post, we’re exploring the 5 most common types of crypto traders and the products that best suit their unique approaches.
Let’s find out which one you are:
🔸 Beginner trader: For those just starting their crypto journey, it’s important to choose products that are easy to understand and have lower risk. Consider starting with exchange-traded funds (ETFs) or index funds that track the price of a basket of cryptocurrencies.
🔸 Professional trader: With years of experience under their belts, professional traders often choose more complex derivatives like forward and inverse futures and cryptocurrency options. These products allow for a wider range of trading strategies and higher risk tolerance.
🔸 Algorithmic trader: These traders prefer a quantitative approach and rely on algorithmic trading strategies, bots, or AI software to make trades. For them, products like futures contracts and automated trading platforms are a good fit.
🔸 Hodler: If you’re a “diamond hand” trader who plans to hold onto your assets for years, consider a passive trading strategy with low-risk products like stablecoins or long-term investments in promising projects.
🔸 Enterprising trader: they are always on the hunt for new and promising projects. To capitalise on these opportunities, consider investing in initial coin offerings (ICOs) or token sales before they hit the open market.
No matter your type, use Bemnex for a safe and successful experience. Happy trading!