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Beginner with $300 USDT on Binance! What should I do now?

Binance

Cryptocoins Exchanges / Binance 18 Views

Howdy everyone,

I am utterly new to the world of cryptocurrencies and I'm about to receive my first $300 USDT in my Binance account. I want some steerage from the group as I'm feeling a bit overwhelmed.

The Plan / My Doubts:

  1. As soon as I have the $300 USDT, what do you advocate I do? Ought to I hold the cash in USDT simply in case, or should I instantly move it into one thing else?
  2. I need to begin with Bitcoin (BTC). Is it the best choice for a beginner? Are there another cryptocurrencies you think about more "beginner-friendly" or with better potential to start out with a small quantity?
  3. Timing the purchase: I see that BTC has dropped quite a bit or is at present in a correction (in comparison with its current highs). Ought to I benefit from the dip and buy my $300 now, or should I look forward to it to fall even further (perhaps to a selected help degree)? Do you advocate using DCA (Dollar-Value Averaging) with this quantity, shopping for little by little as the worth fluctuates?
  4. Once I purchase BTC, what should I do with it?
    • Choice A: Depart it on Binance (extra convenient, however individuals tell me it's not totally protected).
    • Choice B: Switch it to a scorching pockets like Blue Pockets or comparable. Is the transfer payment well worth the danger for less than $300?

Any basic advice for a newbie taking their first steps is welcome. Thanks prematurely!

submitted by /u/Thekingmasster
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