Coinmarket is a great place and a great vehicle for you that want to make some money and invest, but to do it in one place. Trading is the most common way to make money in the world of cryptocurrency. It is not easy to make money any other way than to trading. If you need to trade, or if you want to trade, you should keep certain things in mind to make sure you are successful and to make sure you do not lose a lot of money on your way.
Only invest what you can lose
The golden rule of all trading is that you cannot spend more than you have. That means that you cannot spend your time or your money on things that you cannot afford to lose the money on. Always put aside all the money that you have and all the money that you need for necessities first. If you have any money left over after you have put your necessities aside, you have something you can lose and something you can invest with. If you put aside a certain amount every month you can create something worth trading with and, with time, a nice portfolio.
Always pay attention to Bitcoin
Bitcoin is the biggest cryptocurrency and therefore the most important. Since Bitcoin is dominating the cryptocurrency world, the currency is also a nice indicator on how much risk the market is willing to take. Make sure you spend time watching Bitcoin so that you do not make a big push into a currency when the market is slowing down or the currencies are all declining in value.
There are over 2000 cryptocurrencies on the market. Many of these are very easy to access and to trade in. That said, many of these are not worth much and should be stayed away from. However, there are more cryptocurrency to invest in than just to invest in Bitcoin or Ethereum. You should create a portfolio that allows you to put your money into several currencies. In this way you can be better off in the long term. If one currency crashes you have money in other currencies that will even out that loss. If we all knew which currencies would crash beforehand, it would be very easy, however, we do not know that.
Do not be greedy
There is a saying that greed is good. Greed is not good when it comes to longer term strategies because you need to secure your profits while you have them. If a currency grows with 30% and you think it should go to 100%, sell some at 30% and recoup some profits and take your chances on the rest of the ride. It could be that it peaked at 30% and you would have received something, or that it peaks at 50% and you are following the cryptocurrency price back down.