How can you reduce the risk of crypto?
the best thing you can do to help reduce risks is research.
First of all, the best thing you can do to help reduce risks is research. Taking time into research and understanding the mechanisms will greatly reduce the risks of unnecessary losses. Youtube and some mediums are a good place to start researching.
In addition, utillizing appropriate applications can also help to minimize such risks. Let’s look at what is the most secure app for cryptocurrency:
Binance - A centralized exchange which is secure and acknowledged globally. The app includes various products for users to use
Metamask - A secured DeFi wallet provider which is accepted worldwide. Metamask also supports various chains
Uniswap - A decentralized exchange which is an innovation leader and can be regarded as one of the most popular DEX in the world. Uniswap regularly revs up its products and can catch up to the trend quickly
Arken Finance - A decentralized exchange aggregator with fully equipped trading tools for users. This includes real-time price chart and its “Best rate engine 3.0” giving best rate for users when swapping tokens. Additionally, Arken also offers “Stop-Limit for AMM” which allows users to set a condition to place a Limit-Order when the token reaches a specific stop price. This feature could greatly minimize the risks associated with volatility of the crypto market
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To sum up, the right tools, the right mindset and knowledge could greatly increase the chance to prevail in this market. Traders are advised to always keep up to the current situation in the cryptoworld as it is ever changing.
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