Investment Tips to Avoid Losses in Bitcoin Market
- Use an exchange, not a broker. You’ll save money on fees. For example, buy and sell with GDAX and not Coinbase.
- When you buy/sell via an exchange, try to use limit orders (try not to use market orders). Limit orders generally have the lowest fees, market orders generally have higher fees. On GDAX, limit orders are free as long as they don’t fill immediately (meanwhile, market orders result in a .3% fee, that is better than the 1.4% Coinbase charges, but not as good as 0%… especially if you are day trading).
3.If you are going long, consider dollar cost averaging. No better way to avoid making a poorly timed trade than to dollar cost average (buying incrementally instead of all at once and thereby buying an asset at its “average” price over time).
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