Research about the habits of new and expert cryptocurrency traders shows some significant differences in the ways they act.
What Happened: New crypto traders are prone to trading much more than their expert counterparts, according to research shared with Benzinga by BDC Consulting.
More precisely, expert traders want to trade two to three times per day, while beginners tend to trade every time they get the chance.
See Also: HOW TO TRADE CRYPTOCURRENCY
Another major difference is that while beginners chase quick profits, experienced traders strive to ensure predictability and focus on risk reduction rather than profitability. Both beginners and experienced crypto traders understand that cybersecurity is a critical part of their activity and often use specialized solutions to protect their digital assets.
The research showed that the habits of traders were only related to their level of experience and that where do they geographically reside had no meaningful influence on how they traded.
See Also: BEST CRYPTOCURRENCY TRADING COURSES
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!