When I started in 2024 I had no idea what a limit order even was. If you are just starting on BYDFi here is the 1 min summary of what actually matters.
The Basics: You can open an accout with just an email and no kyc is required to start which is great for privacy. I usually just send USDT via TRC-20 because its cheap and fast.
Market vs Limit:
- Market: Buy now at the current price. Fast but you might get a slightly worse entry.
- Limit: You set the price. It only fills up if the market hits your target. Use this to save on feess and get better entries.
Mistakes I made:
Fomo: Buying at the top because I was scared of missing out.
Altcoin Overload: Buying 15 random coins at once. Most went to zero. Just stick to BTC or ETH until you learn the ropes.
Overtrading: The 0.1 percent fee adds up if you click buy and sell every 5 minutes.
Bottom line: Just try a small 20 dollar trade first. This exchage has been around for 6 years and is way easier for beginners than the bigger platforms that force you to upload 10 documents before you can even touch a chart.
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