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

Binance

Cryptocoins Exchanges / Binance 48 Views

Good day everybody,

I am utterly new to the world of cryptocurrencies and I am about to obtain 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've the $300 USDT, what do you advocate I do? Ought to I hold the money in USDT just in case, or should I instantly move it into one thing else?
  2. I need to start with Bitcoin (BTC). Is it the best choice for a newbie? Are there another cryptocurrencies you think about more "beginner-friendly" or with higher potential to start out with a small amount?
  3. Timing the purchase: I see that BTC has dropped quite a bit or is at present in a correction (compared to its current highs). Ought to I reap the benefits of the dip and purchase my $300 now, or should I look forward to it to fall even further (maybe to a selected help degree)? Do you advocate using DCA (Greenback-Value Averaging) with this quantity, shopping for little by little as the worth fluctuates?
  4. As soon as I buy BTC, what should I do with it?
    • Choice A: Depart it on Binance (extra handy, but individuals inform me it's not completely protected).
    • Choice B: Transfer it to a scorching pockets like Blue Wallet or comparable. Is the switch charge well worth the danger for less than $300?

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

submitted by /u/Thekingmasster
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